IB for life
I love Interactive Brokers. Their platform is stable and the commissions are fair. I have been profitable using them as compared to other brokerages. I was losing more money to the boutique shops over time just through commissions. I can also scale in and out frequently into positions without having to worry about commissions eating into everything.
In the beginning, IB's platform may be hard to digest but if you take the time to learn it, its pretty good. The best feature they have is the shortable indicator. I can see what stocks are easy to borrow and I don't have to go through the hassle to find out things. As for the customer service, I have had no problems. I have never complained about anything even if my fill was bad. They have been straight forward and direct with me. If you are contacting them for other reasons rather than trading or opening account privileges, I can understand why they are annoyed. They do have higher minimum requirements when it comes to opening accounts and getting certain trading privileges so be aware of that.
Executions are fast and great. The platform is stable. Good shortable indicator but borrows are not perfect. Borrows are better than most boutique shops. Higher net worth clients have more access to borrows (pre-borrows) through Portfolio Margin.
On the downside, the Level 2 and charts are very weak. Even OTC and Pink quotes are limited or non-existent on Level 2. The login process can be a little annoying too with the special added security but I understand why. I also wish they could simplify the order entry box too. They should look at Lightspeed or Das or Realtick as examples.
In an ideal world for me, I think IB has a great execution platform with fair commissions but they need the Level 2 detail of Etrade Pro and the simple charts of TOS.
4.5 out of 5.0 stars. It just needs some minor refinements.
This review is the subjective opinion of an Investimonials member and not of Investimonials LLC
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