Interactive Brokers

This is a discussion on Interactive Brokers within the Brokerages forums, part of the Commercial category; Bennie, this was discussed just 3 pages back. The data feed costs 5 EUR per month - Euronext Data Bundle- ...

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Old Jun 3, 2009, 8:33am   #1345
Joined Oct 2007
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.
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Old Jun 3, 2009, 8:42am   #1346
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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?
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Old Jun 3, 2009, 9:46am   #1347
 
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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?
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Old Jun 3, 2009, 11:19am   #1348
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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.
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Old Jun 3, 2009, 1:19pm   #1349
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.....
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
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Old Jun 3, 2009, 1:31pm   #1350
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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
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Old Jun 3, 2009, 9:13pm   #1351
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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.)
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Old Jun 3, 2009, 10:22pm   #1352
 
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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.

Last edited by nine; Jun 3, 2009 at 10:31pm.
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