Author Topic: I am done with Interactive Brokers! (2019 update: I am back to IB)  (Read 14018 times)

d29

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Re: I am done with Interactive Brokers! (2019 update: I am back to IB)
« Reply #40 on: March 16, 2020, 11:03:28 PM »
I have the same issue on Android. It happened twice this week right after the market opened and it got solved in minutes, so no big deal.


orthopa

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Re: I am done with Interactive Brokers! (2019 update: I am back to IB)
« Reply #41 on: May 09, 2020, 04:04:48 PM »
Im growing tired of my broker and have grown out of it for lack of better words. Was orginally tradeking, now Ally but their interface and platform really only useful if you want a very basic set up and their execution and options are brutal. Time to upgrade. I usually carry a little bit of margin and have a little now at Ally. Any issues you think moving an individual account to IB with prexisting margin? No penny stocks.

Thnaks

stahleyp

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Re: I am done with Interactive Brokers! (2019 update: I am back to IB)
« Reply #42 on: May 09, 2020, 04:19:37 PM »
If you use margin, IB is a no-brainer.

The platform can take a little bit to get used to (and a long time if you really get into the weeds). If you have less than $100,000 IB isn't as great of a deal but it's better than it used to be for smaller accounts. Though I'm not sure how quickly they are to do a margin call vs competitors.

On the pro account, margin hits a high of 1.55% (as of right now) vs 7.75% on ally. 
« Last Edit: May 09, 2020, 04:22:30 PM by stahleyp »
Paul

Gregmal

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Re: I am done with Interactive Brokers! (2019 update: I am back to IB)
« Reply #43 on: May 09, 2020, 04:28:39 PM »
Yea margin rates are the only reason I use IBKR. I have begun migrating some of my smaller cap names out though. Its a total waste of time for anything $500M market cap or under. Their margin requirements are awful for those. But if you can find $1B+ideas, its a beautiful thing.

given2invest

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Re: I am done with Interactive Brokers! (2019 update: I am back to IB)
« Reply #44 on: May 09, 2020, 05:15:02 PM »
IB Margin is total shit for really anything deemed "risky" whether it's energy or biotech or sub 500m market cap. 

NoCalledStrikes

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Re: I am done with Interactive Brokers! (2019 update: I am back to IB)
« Reply #45 on: May 09, 2020, 05:42:06 PM »
The only time I am happy using IB is when purchasing non-U.S. stocks where the value of access to those stocks is greater than the pain of their platform.  Otherwise, for every potentially great feature in IB like easier tendering there is an offsetting flaw like out of date online help, commissions that add up quickly on low priced stocks ($1 to buy $10,000 of a $50 stock, but $25 to buy $10,000 of a $2 stock), features that vary across platforms, and a general attitude of "we think you need us more than we need you."  Basically the only trades I do at IB are those that I can't do elsewhere.

TrashIsCash

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Re: I am done with Interactive Brokers! (2019 update: I am back to IB)
« Reply #46 on: May 20, 2020, 01:07:09 PM »
Thanks for posting this.  I am a private individual and trade very infrequently.  I do buy small and micro caps though, both in the US and domestically.  I value simplicity and ease of use.  What platform do you recommend?  Thanks!

bskptkl

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Re: I am done with Interactive Brokers! (2019 update: I am back to IB)
« Reply #47 on: May 20, 2020, 08:12:13 PM »
Thanks for posting this.  I am a private individual and trade very infrequently.  I do buy small and micro caps though, both in the US and domestically.  I value simplicity and ease of use.  What platform do you recommend?  Thanks!
I'd start with Schwab - free commish, otc stocks are generally fine.
Maybe IB if you trade many foreign stocks.