Why IB?

[maxima]

What is advantage of using IB over Openecry ? (or Mirus). Just a summary of pros and cons.

Does anyone have experience with both?

Thank you

 

[dcraig1]

Disclaimer - I only have experience with IB.

Plus for IB:

1. Range of markets - probably the best there is for a retail broker.

2. Good commish.

3. Universal account - stocks, options, futures, bonds, fx all from same account held in whatever major currency you choose.

4. API cross platform.

5. Financially stable with conservative margining policies.

6. Generally reliable

 

[maxima]

I have found out that IB can be connected to NinjaTrader. I understand that cost of that is around 50 dollars a month.. Will anyone recommend that or shall I go with IB own software?

 

[nine]

Also look at zeroline trader and bracket trader for order entry

SierraChart for charting and order entry

 

[maxima]

Can anyone explain IB commission. I almost have opened Mirus account but have looked into IB unbundled fees and now get confused!

I was told by everyone here that if I trade 1 FTSE 100 Future contract on I will pay £1.70 per side.

Now.. I have looked into unbundled rates on IB site.


- IB execution fee = £0.55
- IB clearing fee = £0.20
- IB currying fee = £0.05
- LIFFE exchange fee for Z future = £0.28
Total: £1.08

Can anyone please confirm that my calculations are correct nad if yes why anyone will be willing to pay 1.70?

 

[BerkshireBull]

I have found out that IB can be connected to NinjaTrader. I understand that cost of that is around 50 dollars a month.. Will anyone recommend that or shall I go with IB own software?

Yes. NinjaTrader can connect to IB. Ninja do a range of licensing costs depending on how many accounts you need to connect too. I think the basic, single connection cost is $50 per month.

Trading Platform. NINJATRADER. Purchase a Subscription.

I've actually bought the lifetime, multi-broker license, as I have two connections to MBTrading, Collective2 & Gain Capital.

Regards, Gary

 

[maxima]

Thanks Gary... I found that IB platform a bit less articulated less safe and more complex than necessary for novice than NT... Also NT supports C# :clap:

 

[maxima]

Update on IB

called and they confirmed that cost per contract per side will be 1.08 if use unbundled fess and dont take open position overnight.

woohoo!!