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??
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.
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.
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.
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.
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.
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.
Low prices and other benefits, but you also have their problems. Example navigation is sometimes slow and confusing. Personally, I prefer other services.
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.
From what I understand, interactive brokers is not too user-friendly. But on FreshForex where I trade, the platform is easy to navigate and understand. In addition, education materials are available to lead you. Support is equally available in the form of Live Chat, email, tickets and phone calls to address any concerns you may have.
