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NLD1888

New member
I am still new with WWI & have been trading stocks via IB for about 2 years. I used to trade via eTrade but have switched to IB as its commission costs is lower. (used to be 0.5 cents/share but has increased slightly by passing some of the exchange fee to its customers since Sep 1st). Although I don't trade other instruments, I understand that IB charges the lowest fee for futures, options, and FX as well. The only shortfall from IB is its charting software being lousy and so is the data feed (can have bad data).

I think it will be informative to share with others some of the other brokers & what are their pros/cons.

Broker: Interactive Brokers
Instrument: Shares, Futures, Forex, Options
Pros: Low Commission costs, one account to trade all instruments
Cons: Poor charting & data-feed

NLD
 

in4ex

New member
... I understand that IB charges the lowest fee for futures, options, and FX as well. The only shortfall from IB is its charting software being lousy and so is the data feed (can have bad data).
I think it will be informative to share with others some of the other brokers & what are their pros/cons.
NLD
Agreed: cheap, charting sucks, data is different, Customer Service expects you to know what you are doing!

I use IB for years now. Both for equities, options and forex; never for futures...yet. I would look into Infinity for futures only because they offer a DOM platform.

IB is the cheapest you can get to that of a wholesale price. You can only do better by trading with a Prop Firm...but then you have to qualify as a Prop Trader!

I maintain a TDameritrade account only because they purchased ThinkOrSwim, but I only keep the very irregular trades over there.
Sites like Etrade/TD/Scott are for those seeking all the gadgets they think they need to trade. IB is more for raw traders who do not use all the gadgets...those in Hedge Funds and Portfolio Management.

DATA: know that IB does NOT use or provide "tick" data...actual data. They provide mili-second snapshot images of the trade data...this is how they reduce a cost.

CHART: it's really built for those in more institutional level, those trading portfolios

FOREX: you really need to pay attention to this.............If you make a trade in any forex pair, EURUSD, USDCAD, etc.,.........IB DOES NOT convert the position back into USD. This means you must close out the position in that left over pair! So if you have a gain....say in EURUSD....you now have EURs in the account! And that position must be converted to USD and you will pay for that!

PAPER TRADING: they do offer paper trading.
 

fgender

New member
I agree with all the positive and negative about IB. I would like to add they are quite reliable. I never had bigger problems.

And the mobile app is quite usable. I can even trade option spreads!
 

e-partner

New member
Excs me... In my opinion. ArmadaMarkets is one of the best foreign Brokers. They have European Regulation! =)))
Wish great Profits! )))
 

WarEagle

New member
IB is a great option for beginners since they let you trade pretty much anything for a low cost. In my experience, trading costs are one of the things most new traders never consider but they directly affect your bottom line. I had an account with IB for many years although I have moved elsewhere now for a lower commission but I still recommend IB.
 

init77

New member
Well you can get a proper data feed (e.g. iqfeed, kinetick, etc.) and use a 3rd party software like ninja trader or multicharts. And execute your trades trough IB
 

kay021975

New member
Tradestreaming is a great podcast with great interviews. This is a link:

to a show about a site ,

that legitimately and thoroughly rates brokers. You can listen right now at the site, read the transcript or download the podcast.
 

rixi

Member
Nothing so valuable and the post is almost 3 - 4 years old dude.. what makes you feel bumping it right in the middle of 2017!
 
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