[BlowFish]

Good advice Harlequin. It should be noted that IB does not have a great reputation for being that prompt answering the phone. I have not had that issue calling the European Desk. Mind you can't remember the last time I needed to call, years ago. On the plus side they have a European, USA, & Asian dealing desk and offices in may cities.

How often do you call your broker? If you think that is something you might do a good test is to call them at a few 'awkward' times (just after the open, after news etc.) and see how long it takes to get through. Of course you can bet your bottom dollar that the one time you do need to close a trade by phone it will be just after a surprise 2% interest rate reduction.

[Harlequin]

Originally Posted by BlowFish »

It should be noted that IB does not have a great reputation for being that prompt answering the phone. I have not had that issue calling the European Desk. Mind you can't remember the last time I needed to call, years ago. On the plus side they have a European, USA, & Asian dealing desk and offices in may cities.

How often do you call your broker? If you think that is something you might do a good test is to call them at a few 'awkward' times (just after the open, after news etc.) and see how long it takes to get through. Of course you can bet your bottom dollar that the one time you do need to close a trade by phone it will be just after a surprise 2% interest rate reduction.

Probably called about 5 times in the last 3 years, never had a problem getting through and found them very helpful. Last time was last week, TWS locked up on me after I sent a buy market on FTSE futures, the order just sat there as sent and acknowledged but not filled, called IB and they confirmed the price of the fill in less than a minute of me picking up the 'phone. Restarted TWS and all was well.

[Trader333]

I also use IB which has been as good as I need so far for Emini trading.


Paul

[BlowFish]

Originally Posted by Harlequin »

Probably called about 5 times in the last 3 years, never had a problem getting through and found them very helpful. Last time was last week, TWS locked up on me after I sent a buy market on FTSE futures, the order just sat there as sent and acknowledged but not filled, called IB and they confirmed the price of the fill in less than a minute of me picking up the 'phone. Restarted TWS and all was well.

Ahh but that was the European desk I'd wager I wonder if the US desk is better nowadays? Last time I called I couldn't remember my security word <doh>. For things financial i try to pick extra secure account information. So secure I don't remember!!

I should re-iterate I think they are great broker, which is why they are my primary.

[cnbcaddict]

I use Insignia futures, mainly becuase of the free platform that they give you to trade with and get quotes with. Initially the platform cost can ruin most traders budget. I have been with them for over 2 years with no problems.

[diablo272]

Originally Posted by Harlequin »

If you have a large account size consider cutting out the introducing broker and go direct to a FCM for lower commissions.

This is a new idea to me, and I have a couple questions:

1. How large of an account are we talking, roughly?
2. Why are the commissions lower? Because they're doing more volume due to the larger accounts? How much lower are the commissions, roughly?

Thanks.

[TraderJean]

Originally Posted by diablo272 »

This is a new idea to me, and I have a couple questions:

1. How large of an account are we talking, roughly?
2. Why are the commissions lower? Because they're doing more volume due to the larger accounts? How much lower are the commissions, roughly?

Thanks.

I use Infinity an IB, because of their service. I have a personal broker Tom Duffy. He's just great. The best I've ever had. The way I see it you hope to never need a broker, but when you do need help you want someone who will get you out of trouble. Saving a few pennies by going direct wouldn't really be saving all that much in the long run. And my rate is already low enough that the commissions aren't a factor.


yours in trading,

TraderJean

[diablo272]

So if I had an account with an FCM, I wouldn't have a representative at the firm? Who would I contact if I were to have a problem? How would I open the account in the first place?