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Old 12-03-2010, 16:55
dwt dwt is offline
Level 1 Lasers Member
 
Join Date: Mar 2010
Posts: 2
Default A great broker

I've been a customer of IB for about 10 years, and have had a uniformly positive experience over that time. If you combine an account there with NinjaTrader you get a world class platform with great flexibility, easily pre-set size and stop / TP values, and one click on-chart trading capability.

Withdrawals happen same day (if before 14:00 ET) without fail, resulting in my high Customer Service rating. It's a bit spottier if you want to interact with a human (though that's been vastly improved over the years).

Unique to IB (I think) is the ability to trade stocks, options, futures, and forex all out of the same account.

If there are downsides to IB, they are:
- max leverage is 40:1 (which has never bothered me)
- relatively low (15Mil, I think) max trade size (I hope that bothers me one of these days!)
- inscrutible forex accounting. They leave P/L of trades in your non-base currency in that currency, never clearing it. (e.g. a JPY balance as a result of USDJPY trading) You must make a "closing" trade to get things back into your account's base currency. This becomes a hassle at tax time.

All in all, I'd highly recommend Interactive Brokers.
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