why are there no other brokers compete directly with IB?

tonyf said:
You may want to look into institutional if you havr more than 1m AUM and pay more than 1k in commission per week.
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Not at that level AUM wise yet. Comms though, I probably qualify.
 
def said:
Running a global brokerage is a huge undertaking. Anyone can route an order but there are serious costs involved - not just on the routing side but increasingly legal and compliance as well as operations (corp actions, stock loan, settlement), treasury, regulations and financial reporting which differ and often contradict each other from jurisdiction to jurisdiction - especially in regards to how client money is handled. Then there is treasury, client service, tech support, languages, financial audits, software updates and maintenance. Street wide testing, Contract updates, Data re-distribution and more. Frankly, it isn't as simple as it seems. And don't forget capital requirements which are critical. What many may not know is that a large number of brokers utilize our services to route into their foreign markets as we can do it at a much cheaper cost relative to them doing it themselves. We are unique in that we have been doing this a long time, have been fortunate to have great stability with senior management and personnel and have the ability to think long term.
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Yes, IBKR IS the reason I have been successful in this business. I recall having a four digit account number in 1998. This company (in particular: tp) changed my life and I am forever grateful.

It is not as "personal today" as its inevitable that their growth will result in some issues but when you take a step or two back and reflect on what they have accomplished.....well it is incredible. Many of the personnel are still the same (incl Def who I believe has been with IB for over 30 years) and they still care and understand what is important to us traders/investors.

The biggest risk to my business is actually something happening to IBKR (ie tp selling the company- who is 76 this year) and a new ownership group taking it in another direction.

A true pioneer in this industry.
 
mskl said:
Yes, IBKR IS the reason I have been successful in this business. I recall having a four digit account number in 1998. This company (in particular: tp) changed my life and I am forever grateful.

It is not as "personal today" as its inevitable that their growth will result in some issues but when you take a step or two back and reflect on what they have accomplished.....well it is incredible. Many of the personnel are still the same (incl Def who I believe has been with IB for over 30 years) and they still care and understand what is important to us traders/investors.

The biggest risk to my business is actually something happening to IBKR (ie tp selling the company- who is 76 this year) and a new ownership group taking it in another direction.

A true pioneer in this industry.
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what are you doing that IB is the reason for your success?
 
Could I make $$ with a different broker today? yes - but a fraction of (maybe 60%??).

It's a combination of many things (access/fees/data/API etc). I'd rather not be too specific but there are a couple things that are very important to my trading that no other broker has.

These things likely don't matter to most.....
 
mskl said:
Could I make $$ with a different broker today? yes - but a fraction of (maybe 60%??).

It's a combination of many things (access/fees/data/API etc). I'd rather not be too specific but there are a couple things that are very important to my trading that no other broker has.

These things likely don't matter to most.....[/QUOTE

which data provider do you use?
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