interactive brokers

Discussion in 'Online Brokers' started by yossup, Apr 2, 2014.

  1. yossup

    yossup Member

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    Does anyone here use interactive brokers? I see a lot of traders recommend it due to the cheap commissions but when I tried out the desktop platform, it looked so confusing. How do you guys feel about the platform??
     
  2. canoe

    canoe Active Member

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    Interactive Brokers is primarily used by traders since the fees are so cheap when trading small to decent sized trades. They have a per-share fee structure so if you're a mega bank that's buying millions of shares, obviously IB is not the place to go for those types of trades. If you're a budding day or swing trader though, IB has a very good fee structure and platform.
     
  3. crimsonghost747

    crimsonghost747 Senior Investor

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    I use them. I agree that TWS looks very confusing at first, too confusing in fact. But it's highly customisable so you can add things that you need and take off things you don't want to see. It's quite a powerful tool in the long run, allowing you to change things such as the limit price in open orders with a single click etc. Still too confusing but you get used to it.
     
  4. wanderingwildman

    wanderingwildman Well-Known Member

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    My understanding in the main advantage of interactive brokers is the pricing structure. However, this comes with the added trouble of navigating through the whole system. I suppose you get what you pay for.
     
  5. Hansen

    Hansen Member

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    It's not for beginners or people who haven't dealt with them before. It's not very user friendly. That being said once you get the hang of it it's a powerful tool to say the least.
     
  6. pot_star

    pot_star Member

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    Interactive brockers are very helpful. Yes, it's not so user friendly but once you get to familiarize yourself to the system, it would be very easy and quick for you to transact anything. One plus side of it is it's cheap commision fees. If you don't have time to learn the system, then I guess you won't have enough time to research on your stocks too. Might as well not engage in any trading yet if you're not that commited to it. There a plenty of tutorial videos online that can hep you anyway.
     
  7. crimsonghost747

    crimsonghost747 Senior Investor

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    Very good points.
    Also I'd like to add that while it's certainly a lot more complicated than some other brokers tools, it's not exactly rocket science either. Play around with it for 1h and you will have figured out the most important functions.
     
  8. dariel2323

    dariel2323 Well-Known Member

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    Low prices and other benefits, but you also have their problems. Example navigation is sometimes slow and confusing. Personally, I prefer other services.
     
  9. komodo

    komodo Member

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    I've used IB and yes, their platform takes some getting used to even if you've traded professionally as I have in the past. But their fills are among the fastest and best priced, and the transparency is great.
     

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