My main trading platform is TradeStation. But I also have ThinkorSwim and Interactive Brokers as back ups for their combined long list of short-able stocks. Here is the review on Tradestion and here is the one on Thinkorswim. Today, it is about Interactive Brokers. Interactive Brokers has been rated 4.5 out of 5 by Barrons’ a few years in a row, which the highest score. TradeStation , Interactive Brokers and ThinkorSwim always tie for the first place most of the time.
- IB is a very powerful trading platform for major trading instruments such as Futures, Forex and Stocks. When coupled with Ninja Trader, I believe it will be a killer platform for system trading.
- Due to its super low commissions, it is a very viable platform for high frequency trading.
- IB is an all-you-can-eat buffet type of broker that you can use to trade anything in any major markets around the world.
- IB has pretty low margin rates.
- The trading platform is reliable most of the time.
- IB has a huge list of shortable stocks.
- IB’s charting is sub standard compared with TradeStation and Thinkorswim. But you can use ESignal to make up for this shortcoming.
- Sub standard customer service. It might be due to their super low commissions. I give Thinkorswim 3 thumbs up (one borrowed from my hubby) for her outstanding customer service.
- You will need to pay data fees. It is cheaper than TradeStation though.
- The software might take you sometime to get used to.
In conclusion, I like Interactive Brokers a lot. Trading E-Mini and Forex one day has always been on my mind. So I might move to IB completely one day.
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