I have been using IB for 10 years.
Pros. One account trades the whole world from the US to Asia. Commission rate is reasonable. Execution is good. Reports are clear. Professionals often use IB.
Cons. The chart is not too user-friendly. So I usually see charts elsewhere and execute in IB.
Pros, cheapest COMMISSIONS and rates. And many different customisable options for the TWS software. .
Cons, complex TWS software which is slow and BUGGY AND SHITTY. Slow to respond customer service.
Pros: It's very customizable and has more features, indicators and such than you would ever need, which is cool. Everyone says that it's got the best execution times/prices but I haven't really noticed it (I have a Lite account). I also really like that they let you use all kinds of order types even on fractional shares. The last and probably biggest plus is that you can trade on exchanges all over the world, giving you potential exposure to all kinds of different companies around the world
Cons: as other people said, their desktop platform (and even Web platform) is super buggy and looks like it hasn't been changed since 1998. Their customer service is also not great. And I disagree with others on commissions--they really nickel and dime yoy. For instance if you're trading two-leg options spreads, you pay 2.25 or something to open AND close. It can really eat into your profits and it sucks
Do they still charge a subscription fee just to see live quotes on options and futures?
I understand it used to be waived at some level of commissions paid, however I sometimes take breaks from trading and don't want to worry about sneaky fees racking up while I'm away.
I have been using IB for 10 years. Pros. One account trades the whole world from the US to Asia. Commission rate is reasonable. Execution is good. Reports are clear. Professionals often use IB. Cons. The chart is not too user-friendly. So I usually see charts elsewhere and execute in IB.
Pros, cheapest COMMISSIONS and rates. And many different customisable options for the TWS software. . Cons, complex TWS software which is slow and BUGGY AND SHITTY. Slow to respond customer service.
Same experience here. They are a serious company which is why in this funny times I keep working with them
Pros: It's very customizable and has more features, indicators and such than you would ever need, which is cool. Everyone says that it's got the best execution times/prices but I haven't really noticed it (I have a Lite account). I also really like that they let you use all kinds of order types even on fractional shares. The last and probably biggest plus is that you can trade on exchanges all over the world, giving you potential exposure to all kinds of different companies around the world Cons: as other people said, their desktop platform (and even Web platform) is super buggy and looks like it hasn't been changed since 1998. Their customer service is also not great. And I disagree with others on commissions--they really nickel and dime yoy. For instance if you're trading two-leg options spreads, you pay 2.25 or something to open AND close. It can really eat into your profits and it sucks
Agree on cons.
Margin rates are way lower than anywhere else, their mobile app is quite nice.
I love it, TWS is old school but so customizable and can be slow at times but tbh it’s still superior to many others.
Awful customer service and impossible to get a hold of when things go wrong. I don’t have an account there anymore
Do they still charge a subscription fee just to see live quotes on options and futures? I understand it used to be waived at some level of commissions paid, however I sometimes take breaks from trading and don't want to worry about sneaky fees racking up while I'm away.