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I've been using Interactive Brokers for at least 6 months and have had no
problems other than an occasional software/data disconnect...probably due to
my miserably slow dial up connection They supply you with trading software
which is much quicker than java based trading and is easy to use. Their
datafeed is said to be one of the fastest and I would agree, although they
apparently bunch up identical trades to save bandwidth. I haven't had to
reach them by phone very often, but when I had to there wasn't much of a
wait. Stock commissions are very low up to about 2000 shares. After than
it's cheaper to have another account, as I do, with Ameritrade, with a one
price fits all policy( $10.99 for any size trade).
I also use them to trade the E-mini, $2.40 commission each way, and the
commodity and stock accounts are combined into a single account. E-mini
fills are very quick. A few years ago they had a reputation for being a
cheap and fast broker if you didn't need support, which apparently was
really difficult to reach. They seem to have fixed that problem before I
opened an account and I can't say anything bad about it now.
A good place to find comments about Interactive Brokers, and others, is
www.elitetrader.com. You can also see them rated by % of favorable comments
(84% favorable as of today).
Good luck,
John
----- Original Message -----
From: "Adrian Michel" <michel@xxxxxxxxxxx>
To: <omega-list@xxxxxxxxxx>
Sent: Friday, January 16, 2004 6:30 AM
Subject: Help choosing an online broker
> Hi everybody,
>
> My current broker is making major changes to their communications
protocols
> and this has renedered my automatic trading software unusable - I wrote my
> trading software by reverse-engineering some of their proprietary and
> undocumented protocols.
>
> Anybody has any suggestions for a good online broker that has low
> commissions, fast execution, good customer service and very importantly, a
> public and well documented trading/quotes API for automated trading?
>
> I came across Trade Wall Street, an online broker, which seems to be a
> decent one. They charge $6 one way commission across the board and they
> offer a direct access API to their systems, but could not find references
on
> the web about them. Anybody on this forum has used them?
>
> Any help would be much appreciated.
>
> Thanks
>
> Adrian
>
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