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I dont use IB so I don't have the answers to these questions. But I would ask them what kind of backup trading systems do they have. The broker I use has three. If one system goes down, the others pick up without a hitch. They aren't even located in the same part of the country. I was able to reach a human voice at my brokerage the morning of 9/11 and they explained what exactly was going on at the exchanges.
I'd ask if they have ever been down, while the market really moving? Can there trading systems handle large sudden volumes spikes?
I've had a trade execute (stop) outside of the day's trading range on the Chicago exchange. (talk about slippage!). Anyway, my broker, when presented the facts, reinstated the shares prior to the next morning's open.
I'd ask about their back office support, ie. if the accounting on a trade gets messed up, is there some one to work with you?
I'd also ask about tax accounting support. What do they have and what are the options.
Kevin Campbell
In a message dated 7/12/03 4:36:38 PM Central Daylight Time, jcasavant@xxxxxxxxxxx writes:
Bob and every one else who responded,
Thank you all for your input. It sounds like IB is worth a try.
Regards,
Jayson
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