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Owen,
Every electronic connection to the markets will go down sometime. In fact,
every market itself will go down sometime. From my own experience and posts
that I've read from others all over the net, IB is down very little. Some
brokers take your order electronically and transfer it. IB is direct. Most
fills happen almost instantly. Their TWS software is very simple, very
intuitive.
When IB has an outage, the TWS begins to reconnect at once. As soon as the
connection is available, it is automatically made. Their TWS may be down
(just an off the top of my head guesstimate) once a week avg. for a few
seconds to perhaps 5 minutes. I follow/trade the mkts all day almost every
day. In 2001, I remember a day that they were down several hours but nothing
like that in recent months. They constantly improve the service/software.
I've read about well known brokers that are up/down like a yo-yo. Not
IB..not even 2 years ago.
I have never needed another broker for the things IB trades. (I trade
grains with another broker, for example). They do have a phone desk manned
with licensed brokers if you need to close a trade due to system outage.
I have a healthy fear of electronic failure but the real danger is a full
service futures broker who charges big $ and lets the contract price move
thru your stop 3 X before getting you out $500 away from your stop!!!
IB trades every electronic market in the world, I think. Unless you trade
pit traded commodities, you won't need another broker. $1 per 100 shares of
stock, $1 contract for options, $2.40 per contract for futures. You may
want to spend some time on their web site. It should answer every question
you have.
In any event, I wish you good trading.
Bob
----- Original Message -----
From: "Owen Davies" <owen5819@xxxxxxxxxxxx>
To: <Metastockusers@xxxxxxxxxxxxxxx>
Sent: Tuesday, October 29, 2002 10:44 AM
Subject: Re: [Metastockusers] QCharts or eSignal for RT data?
> Among other comments, Bob Palfreeman wrote:
>
> > To me, the best deal anywhere is Interactive Brokers as broker ...
>
> Bob, I'm still trying to figure out how reliable they are. How
> long have you been using them? Have you ever run into a case
> where the link to the floor was down and you needed another
> broker to execute a trade? If so, how often does it happen?
>
> IB really appeals to me, but I'd prefer not to have to deal with
> multiple brokers, to say nothing of funding more than one account.
>
> Thanks.
>
> Owen Davies
>
>
>
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>
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>
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