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Interactive Brokers

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www.interactivebroke..
Category: Brokers
Successful traders and investors understand that superior technology and lower trading costs can result in greater returns. For 32 years the IB Group has been building electronic access trading technology that delivers real advantages.
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Displaying 1-10 of 175 Total Reviews
Low cost. Good execution.
I've been using IB for over 6 months. It took me at least 5 months to get used to the platform. I tried the classic interface, booktrader and charttrader. Everybody knows IB customer service is not good. When I tried calling them, I usually have to be put on hold for quite a while. I didn't have to call the trade desk so my guess is that line should pick up a lot faster since that's more time sensitive but I don't have any experience with that. I emailed them 2x for support and 1st time I received a reply with the solution i was looking for. The 2nd time I asked about a problem I was having with booktrader and i never received a reply back. After a few months, I finally tried a 3rd party front end DOM instead of using booktrader.

I don't know why some people say IB is expensive because after trying other brokers, Scottrade, ETrade, TDA/TOS and Tradestation, IB is actually cheaper for me overall. I also compared IB with Tradestation side by side for a while and I thought IB execution was better at least with my limited experience.

Overall if you like TWS or find a way around it like me, I think IB is a good broker for us retail traders.

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Excellent for the pro trader
One of the best decisions I have made in my short trading career was to open an account with IB because it lets me trade everything without having multiple accounts. Yes, the pricing could be better, but you pay for this convenience to trade crude futures, penny stocks, and FOREX from one platform. I would recommend this for all traders, i hope this review helps.

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IconTrading45 Colorado Springs, CO

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Pretty good choice for the seasoned trader
IB is cheap and fast. Not so user friendly but really good value if you know how to use it.

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Ok for OPTIONS
i use them for options. And its great. But only issue is the way they caluclate margins i dont understand it at all . one time i was taken out of a one side of spread which I thought was very odd. I felt i was with in the margin requirements.

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Good for multiple accounts
This is the best broker if you want to trade everything from one master account. You can trade futures, forex, stocks, everything under the sun. The margins are higher, and yes the customer service is going to be like calling your cable company, but the value is that you dont need to open a ton of different accounts. Make sure you ask them about real-time data for futures because they like to start you with filtered data, but you can pay for real-time very easy too.

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EminiJeff Minneapolis, MN

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The best broker
Excellent commissions. Excellent execution. Good customer service. Powerful platform. Excellent margin rates. Wide variety of products.

What else can you ask?

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too expensive and horrible service
IB is great for someone who wants everything under one roof, but you pay a steep price for that convenience.

You will pay higher margins, higher commissions, and need more money in your account if you open and account with IB.

I started trading with IB, but later closed my account and moved my accounts to brokers who focused on equities, futures, and forex.

You can trade everything with IB, but serious traders should go to brokers who can provide better fees, margins, and service IMHO.

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SemiTrader13 Mesa, AZ

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A company in my book is measured by its customer service
I would give 5/5 on all areas of dealing with IB, except customer service. When problems appear it is how good a company resolves them that is the measure of the suitability of their offering. I have been trying to transfer my money out of the arrangement for more than 2 years and with the exception of one example have been unable to do this. The banking dept can't sort it out, I have made 2 formal complaints which in general received the same response; ignore the points I made and provide platitudes along with a suggestion that I should consider a full service broker. What because I want to draw my own money out of the account?

I need to tell you that I am an international client the system may work flawlessly within the USA, but IB do not seem to understand international banking systems. They should seriously consider refusing international clients.

I even accepted their advice and now simply wish to close my account, can I? No it seems as they cannot get my funds into my legal bank account. Is this inability theft?

Oh and don't try and get them to accept that anything is their responsibility, each failed transfer costs me $20, Even when the transfer is checked by Customer Service, it is not their responsibilty so a refund is out of the question.

Very bad historical and ongoing experience

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Good broker
Best broker that allows direct market access.

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Great borrows low fees
Have not had any problems getting borrows with these guys, great support and low fees. Minimum to open an account is a little high, but if you have the capital go with them.

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Displaying 1-10 of 175 Total Reviews
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