Support Board
Date/Time: Mon, 25 Nov 2024 09:26:05 +0000
Post From: Your experiences with Interactive Brokers
| [2020-02-05 16:48:28] |
| User753624 - Posts: 23 |
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I use the SC Denali feed for data and Interactive Brokers as my broker/ECN. Data through IB isn't much cheaper and has a reputation of being low quality so the Denali feed was a must for me. That combination has been solid (I've been using both for about 3 months or so) and it wasn't hard to setup at all. I was initially a bit apprehensive to use IB since the SC's page about them cautions against it, but I was more comfortable using them as a clearing firm than some of the smaller ones so I decided to go with them. I predominantly scalp and have been happy with the fill quality and speed of execution through IB. That being said, I am not a large trader yet so I don't know if things like slippage will become more of an issue with them when trading bigger positions, but I highly doubt it will be much of an issue. I also considered Dorman (which I have heard lots of good things about) but decided I'd rather go with IB since they're substantially larger (CFTC's financial data shows that their adjusted net capital is over $5 billion, making them one of the biggest clearing firms out there https://www.cftc.gov/MarketReports/financialfcmdata/index.htm). The kind people who I spoke to at Dorman were also less clear on the phone when I asked whether they would be able to function as both a broker and clearing firm. I considered AMP as well but found my interactions with them to be completely off-putting and didn't feel like I could trust funding an account with them (and reading reviews online about them didn't inspire much confidence). Tradovate was another company that I thought about but decided against because I didn't want to use an introducing broker. All in all, I think IB is a good option since they have reasonable commissions, an enormous user base which gives them the ability to continually update their technology, and they require a larger margin per contract. And, so far, my real world experience hasn't made me second-guess that choice at all. |