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Hi Johan,
I have three accounts with IB. They are great, except you get NO interest
of any kind on your money, therefore if you don't intend to invest the
majority of your funds, maybe there might be some other brokerage paying
interest you might consider.
If you need psychological or any YES man working for you, then it's No
Good, as you are warned before you open account that you should know all
about how to place the orders that you want, because it is YOU who, in
effect, place your orders and then send them on to the market makers.
At 1 cent per share on stocks for the first 500 shares, then 0.5
cents/share for quantities above 500. Futures contracts are very low also
- I believe around $1.50 -- but you can read all of that stuff at their
site.
If you want to "be on your own", then this is the place. If you
learn to use the "Hot Keys" for the various functions, then I
understand that the market action is almost instantaneous and suitable
for "day trading".
Their "HELP" works best with e-mails, and at times is a bit
slow in responding, to counter that there is 24 hour help. You might be
talking to Hong Kong, after our markets closed (I did!), but somewhere in
the world there is an IB brokerage that will try to answer your
questions. You can tell that they are NOT over staffed, but I
believe its adequate. I had trouble with Stop orders, then I found
out that stops are a two price operation. The trigger price then the
Active price. So should you use stops, then be warned, study them closely
before you use them.
If you have other questions, give me a shout. As for me, IB is
GREAT!
Regards,
Hal
At 11:40 PM 8/15/01 +0000, you wrote:
Hello,
I'm looking for a broker in the U.S.
Has anyone experience with "Interactive Brokers"?
Any advice or suggestion is welcome.
Best regards,
Johan
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