Best Thread Interactive Brokers

[nine]

A tech question for IB.

Once upon a time our TWS connected to our home server (HK in my case) and from the home server to the other server farms. Now, our TWS's connect directly to the data farms that we are getting data from - so I typically have connections to HK, to the US for forex and to the US for globex data.

Is it only data that comes direct or do our orders go direct. Put another way, are our orders routed through our home servers or do they go direct to the one closest to the exchange?

 

[bennie83]

Can anyone tell me how much the data feed is for the FTSE future (LIFFE) with Interactive Brokers? Also, what is the approx round turn commission? I just can't get a straight answer from them direct, I have spoken to about 5 different reps each giving me conflicting prices and information. cheers.

 

[Adamus]

I pay the data feed but can't remember and would have to login to find out. I'll tell you later next time I'm on my account management webpage. It's not a lot.

Commission is £3.40 round-turn.

 

[bennie83]

Cheers ahardy, please do let me know the data fee when you get a chance, regards

 

[Zito]

Bennie, this was discussed just 3 pages back.

The data feed costs 5 EUR per month - Euronext Data Bundle- Level 1

The RT commission for a FTSE contract is 2.06 GBP if you choose unbudled scheme, 3.4 GBP if you choose bundled.

 

[bennie83]

Bennie, this was discussed just 3 pages back.

The data feed costs 5 EUR per month - Euronext Data Bundle- Level 1

The RT commission for a FTSE contract is 2.06 GBP if you choose unbudled scheme, 3.4 GBP if you choose bundled.

level 2 data, considerably more I guess?

 

[nine]

A tech question for IB.

Once upon a time our TWS connected to our home server (HK in my case) and from the home server to the other server farms. Now, our TWS's connect directly to the data farms that we are getting data from - so I typically have connections to HK, to the US for forex and to the US for globex data.

Is it only data that comes direct or do our orders go direct. Put another way, are our orders routed through our home servers or do they go direct to the one closest to the exchange?

IB. Any chance of an answer?

 

[bennie83]

IB. Any chance of an answer?

I've no doubt there are many traders who love IB. However, from my experience the customer service is shocking (by the way I'm not normally one to complain!). A simple question is never answered properly. In fact, I made 5 separate phone calls and spoke to 5 different people...all I wanted to know was which data feed I would need for a specific contract. I got 5 different answers! To top it off, some of them had the cheek to tell me to go and look on their website (probably because they didn't know), rather than them tell me direct over the telephone, but this was the whole point of me calling! I also asked for a commission quote on the FTSE 100 Future contract and I kid you not they did not understand what I was talking about. I had to try and explain what this contract was for several minutes. I just don't think they are trained or something. It ended up with a rep getting shirty with me, for no reason. It should not be like this and indeed I've experienced nothing else like this with any other broker. In fact all other brokers are knowledgable and go out of their way to help you. So this is why I end up asking the questions on this forum rather than trying to get an answer from IB.

In summary, I so want to like IB because its easy, commissions are quite good, its good for international traders like me. However, two things in particular I just can't force myself to accept. Firstly, as explained above I can never get a proper answer. Secondly, the platform seems so outdated compared with the competition. I found it quite nasty if I'm honest. I do not want to deter anyone because ultimately its a personal choice and I'm sure many traders can live with IB's traits, but I just don't think I can. Good luck everyone.

 

[Hittfeld]

.....
However, two things in particular I just can't force myself to accept. Firstly, as explained above I can never get a proper answer. Secondly, the platform seems so outdated compared with the competition. I found it quite nasty if I'm honest. I do not want to deter anyone because ultimately its a personal choice and I'm sure many traders can live with IB's traits, but I just don't think I can. Good luck everyone.

Bennie,

I never experienced such bad customer service, but maybe that`s because I usually speak to ZUG (CH) center. Always competent, knowledgeable and friendly.

Regarding their platform: Many traders not only like it, they absolutely love it!

All the best

Hittfeld

 

[bennie83]

Bennie,

I never experienced such bad customer service, but maybe that`s because I usually speak to ZUG (CH) center. Always competent, knowledgeable and friendly.

Regarding their platform: Many traders not only like it, they absolutely love it!

All the best

Hittfeld

Hi Hittfeld,

Like I said, IB must be doing something right. But its all about personal experience. Maybe it would help if I had a direct contact, someone who I could rely on at IB. I am trying to force myself to like them for the reasons I mention before, so please could you tell me what you love about the platform? I am willing to revisit it and give it another go. I must be crazy!?

Cheers

 

[Phil Mibbutz]

Hi Hittfeld,

Like I said, IB must be doing something right. But its all about personal experience. Maybe it would help if I had a direct contact, someone who I could rely on at IB. I am trying to force myself to like them for the reasons I mention before, so please could you tell me what you love about the platform? I am willing to revisit it and give it another go. I must be crazy!?

Cheers

I'm with you on this one, bennie. IB never seem to give simple answers to simple questions, and their website(s) and platform are a confused mess. (All IMO, of course.)

 

[nine]

IB are fine if you know what you are doing.

Commissions and low level sh it e are covered very well on their website. Its just that people are too lazy to look. TWS is fine as an intermediate platform. If you want decent charting and easy order handling for a low cost try adding SierraChart to the mix - I wouldn't run on TWS by itself.

I asked the structure question here because I wondered if IB still read this thread but apparently at some stage they stopped. No problem, I'll just ask someone in IB directly.

 

[goodtyneguy]

I asked the structure question here because I wondered if IB still read this thread but apparently at some stage they stopped. No problem, I'll just ask someone in IB directly.

They've been here recently and spotted my post above No. 1340 see here http://www.trade2win.com/boards/brokerages/18051-sipp-product-interactive-brokers-7.html

They are friendly.... just not SIPP friendly.

 

[Zito]

Bennie,

Euronext Data Bundle- Level 2 costs 37 EUR for your information.

As far as custommer support is concerned, I've never had a problem with them and all my questions were answered properly. That's to say, I've never had to call them up. I usually enter a ticket in Account management section of my account. I remember asking them what data subscription I need to trade FTSE 100 futures and they replied correctly. Also, they solved my problem with the backfill for FTSE futures which I mentioned on previous pages here. So, I'm pretty satisfied with them.
The platform is stable and I really love it. What I love about it are hot keys which you can define. I'm using these keys to enter orders. Ctrl+S sells a contract in an instant, for example. And you can define hot keys for almost anything regarding order entries/cancellations.
The platform may not be as good for options traders, but I'm not that far for the time being.
And like "nine" mentioned, I'm also using TWS in connection with SierraChart.

 

[wiseass]

i also use TWS + sierra charts > 2 years now. no complaints from me!

 

[bennie83]

i also use TWS + sierra charts > 2 years now. no complaints from me!

no no no IB, they've only gone and done it again. After positive posts by IB fans I thought I'd give them another try, so I emailed them a specific question. What do I get in return? A general/faceless reply of approx 500 words which had been copied and pasted from their website, which simply skirted around my enquiry. The message started: 'Per our web site...' then came the cut and paste job, there was no Dear Mr..., no proper answer. So yet again, I am none the wiser. WTF IB!? Seriously, its laughable really. By the way, as I'm searching for a broker I sent the same email to other brokers and all of their responses were personalised, clear and to the point...ALL of them. Well, there you go, I think I can draw my own conclusions.

 

[Phil Mibbutz]

no no no IB, they've only gone and done it again. After positive posts by IB fans I thought I'd give them another try, so I emailed them a specific question. What do I get in return? A general/faceless reply of approx 500 words which had been copied and pasted from their website, which simply skirted around my enquiry. The message started: 'Per our web site...' then came the cut and paste job, there was no Dear Mr..., no proper answer. So yet again, I am none the wiser. WTF IB!? Seriously, its laughable really. By the way, as I'm searching for a broker I sent the same email to other brokers and all of their responses were personalised, clear and to the point...ALL of them. Well, there you go, I think I can draw my own conclusions.

Well, I am surprised.











































Not.

 

[peto]

no no no IB, they've only gone and done it again. After positive posts by IB fans I thought I'd give them another try, so I emailed them a specific question. What do I get in return? A general/faceless reply of approx 500 words which had been copied and pasted from their website, which simply skirted around my enquiry. The message started: 'Per our web site...' then came the cut and paste job, there was no Dear Mr..., no proper answer. So yet again, I am none the wiser. WTF IB!? Seriously, its laughable really. By the way, as I'm searching for a broker I sent the same email to other brokers and all of their responses were personalised, clear and to the point...ALL of them. Well, there you go, I think I can draw my own conclusions.

Unlike many other brokers, and in order to keep their costs down and therefore offer competitive comms, IB have a very comprehensive website. The answer to you question could have been researched there, and has been answered at least twice on this thread already. IB don't do hand-holding. If that's what you need you might have to pay a little more elsewhere.

 

[bennie83]

Unlike many other brokers, and in order to keep their costs down and therefore offer competitive comms, IB have a very comprehensive website. The answer to you question could have been researched there, and has been answered at least twice on this thread already. IB don't do hand-holding. If that's what you need you might have to pay a little more elsewhere.

Sorry Peto, but hand holding is not what I'm after and you will not be aware of my specific questions to IB. Therefore, you are not in the position to say my question has been answered.

 

[nine]

Sorry Peto, but hand holding is not what I'm after and you will not be aware of my specific questions to IB. Therefore, you are not in the position to say my question has been answered.

I read your post.

You are after hand holding. You want them to tell you something that is clearly set out on the web-site.

So. You fail the intelligence test and should definitely not become an IB customer.