After a 45 minute phone call with IB API support today, I had the temporary stroke of genius that I need to move my trading away from IB. I had an order that was rejected and they blamed MC. After digging into the log file, the problem was with IB, not MC. This is an ongoing theme.
Between the constant bugs in their constant software updates and commissions that are quite insane for heavy intraday traders, it's time to change.
My first option is TS. I compared 250 live trades executed on TS and 250 live trades executed on IB for execution and slippage. They are essentially the same. At TS's $11.98/roundtrip for trades, their commissions make the choice a no brainer unless you need futures in the same account.
The downside is there is no broker plug-in for MCx64 and TS. I've been working with Andrew at RT Soft to develop a plugin for TS that works with MCx64, however it appears the hold up is with MC and not him. He does have a working version for the 32 bit platform, however I'm concerned with the memory cap.
The second option I'm looking at is MB Trading, now TradeKing. MC has native support for them and at $4.99 flat rate for stock trades, the commissions are very attractive. I haven't heard of anyone in using them and I would like to evaluate their execution before switching over.
Any other brokers for stocks/options that you are using and happy with?
Alternatives to Interactive Brokers for Stocks/Options
Re: Alternatives to Interactive Brokers for Stocks/Options
That's nothing...wait till you deal with their API.After digging into the log file, the problem was with IB, not MC. This is an ongoing theme.
Look....IB is the McDonalds of brokers.....you get what you pay for.
In terms of alternatives, you've got TD Ameritrade and Options Express...but I don't believe MC has a plug-in for them.