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"Gary Fritz" <fritz@xxxxxxxx> wrote
> And it turns out there's an even worse problem. IB apparently gets
> their low commissions by having ZERO human involvement in the order
> process.
Well, what would you think HOW they safe the cost to give you real low comish -
by having the normal stuff sitting around as every brokearge but playing cards
as you deal electronic ?
> I started to worry about this and asked the IB rep if there was
> a voice order desk to use in case the system goes down & you need to exit
> a trade. She apparently couldn't be bothered to answer with a simple
> "yes" or "no," but told me to go read the website.
the answer is a clear NO - I learned it with them the hard way
> Here is what I gleaned from their website. I sent this message to
> the IB rep with expressions of disbelief, asking if this was really
> the way they operated. That was last week, and she hasn't replied to deny
> it, so I assume it must be correct.
it is - TH is a big market maker around the world on lots of exchanges in lots of
markets with lots of products - they give this access away basicly as a side
product of their main job: market making - my experience with them clearly
shows that they have NO real interest to push that product PROFESSIONALY
I checked with them ystd again - they dont do STOPS on minis - so its a clear
NO GO still
> So I definitely will not be opening an account with IB. I still like the
> IB order tool, and I may possibly go with one of IB's licensees (with
> higher commissions but better support), but definitely not through IB
> directly.
>
> Gary
Gary just open another acc with another broker - cant be that difficult and you
need a backup anyway.
I have LIND ONLINE, LEO, normal phone lines, toll free lines whatever - Am I
safe - still not...but safer :-)))
EARL wrote
> .. the
> margin doesn't bother me, but I wouldn't for a moment open an account in a
> brokerage with no back door
yes, thats their problem
> or an inability to trade contracts other than the S&P.
>
> Earl
THey offer a LIMITED (thats limited to e-mini) product on their web with cheap
comish - they have FULL access offer for bigger accs (that was not discussed
here). Thats the thing I used last year and it was NO good due to lots of tech
and human problems on their side.
rgds hans
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