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Thanks Andrew for the feedback. Much appreciated.
My main reason to switch is to trade more markets and faster. The
lower commisions of IB are an incentive, I guess. If their
execution is good, then I don't anticipate any problems. I don't
want to save a few buck on commissions, but cost me much more money
on the execution end.
I think I will open a small account with IB next month, and make the
complete transition once I get familiar with their system.
SJ
--- In equismetastock@xxxxxxxxxxxxxxx, "Andrew Tomlinson"
<andrew_tomlinson@xxxx> wrote:
>
> SJ
>
> I use IB as one of my brokers. In my experience, their execution is
> excellent. They also seem to have better access to shares to
borrow than any
> other discount broker. My reservation (and why I don't use them
more) is
> that I find their software interface complicated and confusing. I
am
> reasonably careful about entering orders, but I have had more
mistakes with
> IB than any other broker (not their errors - just a confusing
interface). If
> you want to use them I recommend going through the online manual,
although
> it is enormous - otherwise you may find you are making assumptions
that are
> incorrect - e.g., be clear if your stop orders on electronic
futures are
> active in the overnight sessions or not.
>
> They also provided some incorrect gain/loss reporting which they
did not
> correct, and were aggressive in denying the problem until I proved
it to
> them.
>
> All in all, great execution, great product reach, no hand-holding,
confusing
> order interface and caveat emptor. A professional execution
platform,
> nothing more.
>
> For most of my stock and stock option execution I use
OptionsXpress -
> excellent order interface, great analytics (IB is not good for
analytics)
> and free intraday charts through prophet.
>
> Andrew
>
>
> -----Original Message-----
> From: fuminator [mailto:no_reply@xxxxxxxxxxxxxxx]
> Sent: Tuesday, July 27, 2004 11:45 AM
> To: equismetastock@xxxxxxxxxxxxxxx
> Subject: [EquisMetaStock Group] Question about broker. Anyone use
IB?
>
>
> Hello,
>
> Just want a honest opinion from anyone using IB as their broker,
and
> how do you like their trade execution? I'm currently using
> TDWaterhouse, and I like this service very much, but it is does
not
> offer different types of trading except for stocks and options in
US.
>
> Besides, I want to scale into my positions a little at a time, and
I
> find that IB's transaction cost to be favorable in this type of
> situation. I want a solid broker with excellent execution.
That's
> all I'm looking for. Thanks.
>
> SJ
>
>
>
>
>
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