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Vitaly,
I've been with Interactive Brokers for about 1 1/2 years now--ever since
they went retail. I've done between 400 and 500 trades with them. They're
not perfect; I've had two minor glitches where an order never made it to an
exchange. They're bare bones. And they are very fast.
I trade futures and equities, with an occaisional option spread or straddle.
It's a direct access system, so you set/choose your exchanges and routing.
I stuck with ECN's for very fast executions, except where I was forced to
route to an NYSE or AMEX specialist. Trading on ECNs or the minis on
GLOBEX2, I'll execute in a second or less. Faster than I can say "function
key" or "mouse click."
Equities are 1 penny per share, with a $1 min. NO fees or ticket charges.
That's a flat rate. Of course, if you trade 5000 shares forty times per
day, then the price is not very competitive. But 2000 shares or fewer, it's
hard to beat.
I have no affiliation with Interactive Brokers. In fact, I'd prefer that
hoardes of people don't go to them because I like the speed and the access
without getting bogged down with all those people. On the other hand, I
love the competition for some of the other higher priced brokers which don't
offer any greater benefit or service.
Just my 2 cents.
Dave Nadeau
Fort Collins, CO
-----Original Message-----
From: owner-metastock@xxxxxxxxxxxxx
[mailto:owner-metastock@xxxxxxxxxxxxx]On Behalf Of Vitaly Larichev
Sent: Friday, February 02, 2001 3:16 PM
To: Metastock List
Subject: Anybody else having problem with Preferred's proprietory
trading software?
Hi,
It's about my nerve-racking experience with PreferredTrade brokerage's
software compared to which "anything else is too slow" as it claims on
its Web site; in fact it's much slower than trading through IE browser.
Like, to get the main trading window after logging in takes 80-90 sec, to
refresh data, get a response to a command - 15 sec minimum if at all. It
makes a mockery of the very idea of fast trading.
The support group at Preferred tried to do its best helping me, but
eventually gave up, saying that indeed they have 5 - 6 customers with a
similar problem.
I am puzzled, nothing fancy in my PC: 166 MMX Pentium, 64 Mb RAM,
20Gig HD, Win98 and cable Internet. I didn't have any problems for some
(!) time after installing their early version 3.0. Did I upgrade something
on my PC, or did they at their end that messed up everything, I don't have
any idea. Networking gurus, or anybody with PC common sense - any
thoughts? I am to decide if to move to other broker. Also, any
recommendations on similar bare-bone brokerages: just equities, good
executions, less than $15/trade (on-line) commissions? Not too popular
- I hate to live through growing pains of popular businesses.
Other than this, I like Preferred - good handling of the account, fast
executions, convenient software (if works) ... But thiiiiiissssss ....!!!!!
Thanks a lot.
Cheers, Vitaly
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