Jump to content

Welcome to the new Traders Laboratory! Please bear with us as we finish the migration over the next few days. If you find any issues, want to leave feedback, get in touch with us, or offer suggestions please post to the Support forum here.

  • Welcome Guests

    Welcome. You are currently viewing the forum as a guest which does not give you access to all the great features at Traders Laboratory such as interacting with members, access to all forums, downloading attachments, and eligibility to win free giveaways. Registration is fast, simple and absolutely free. Create a FREE Traders Laboratory account here.

stock.trader

Beginning trader needs imput: IB or TradeStation

Recommended Posts

Hello,

 

I am just starting out as a trader, having spent several years watching from the sidelines. Currently, my broker is charging a per-trade commission; I'd like to switch to a reliable broker that charges on a per-share commission. I have searched for a per-share broker and have narrowed it down to two possibilities:

 

Interactive Brokers

TradeStation

 

I have heard a lot about IB insofar as its poor charts, lack of time and sales updates, etc. So, I will be using 3rd party chart software and datafeed. I have also heard that customer service is sometimes lacking.

 

From what I have found about TradeStation, they have decent charts and are great for those who want to test a strategy or automate their trading. I only trade stocks, and only trade manually, so the automated features of TradeStation aren't too important for my trading.

 

What I need from a broker is maximum extended hours flexibility (ie pre and after market), reliability, and most importantly a per-share commission structure.

 

Has anyone at Trader's Laboratory had any experiences with either IB or TradeStation that they would be willing to share and thus help me decide between the two.

 

Any thoughts on this would really be appreciated.

 

--Ian

Share this post


Link to post
Share on other sites
Guest TRex

I used IB exclusively for stocks before I dumped equities for futures and my experience with IB was excellent. However, this was before they went public. Their customer service suffers as a result of giving ultra competetive commissions, but if you can live with that, they are the best at what they do.

Share this post


Link to post
Share on other sites

<<otherwise I would use IB>>

 

if you only trade futures and stocks and not options -- what is the advantage of IB over TS? I very rarely have problems with filling order at the bid/ask price for futures. IB clearly has something special in options with their Timber Hill subsidiary -- but what do you get at IB for futures that you don't get with TS?

 

I have used Tradestation for years and would recommend it highly as it is a truly amazing piece of software for active traders. I was on the professional buyside at a firm with a $10 million annual IT budget and we used institutional grade software including ILX/Bridge/Bloomberg/Factset/Advent -- and Tradestation has more useful functionality than all of those --- though I do wish they could do something with Factset to integrate that.

 

One thing I don't like is that you cannot trade european futures on TS -- though you can get the data feeds through Eurex.

Share this post


Link to post
Share on other sites

I leave opinions on the logistics and features to others.

 

If you are going to put money at risk you should however make sure to learn about the "account risk" issues. What insurance does your broker offer for your account size? What additional insurance does your broker offer for futures accounts (if you trade futures). I suggest you call your broker and ask these questions. If you decide on a publicly traded broker, it is a good idea to request that they send you their standard disclosures for your files.

 

Good luck

Share this post


Link to post
Share on other sites

If you do enough trades to pay for the platform, do tradestation. I have been with them for years and find them more than adequate. The commissions are excellent and the platform is stable. Data is above average.

Share this post


Link to post
Share on other sites

commision wise, both, IB and Tradestation are good, and close thogether. That should not be a factor.

The biggest factor for sure is the Platform. TradeStation is sadi to be the best, and IBs charting is the worst.

 

I am using an IB account but with Sierra Charts, feeded by my IB account.

The only reason I am with IB is, becaseu its the only broker I found, which alows me to trade Futures, shares and FOREX from the same account.

With TradeStation, I would need to open 3 different accounts, and fund all of them separatelly.

I heard, that many people have a 5000$ TradeStation account, just to use their Platform for free (you have to make some minimum round turns to have it for free), but they have their trading account elsewhere.

 

So if you are trading shares only, I would go with TradeStation. They have a nice "Radarscreen" a market scanner higly cusomizable, and all the other features you want.

IBs charting is ridiculous bad, mostly useless, but has the advantage, that you can use it with many 3rd party Platforms. But also IBs order entry system is not as nice as many others. IB has a DOM, they call it Book Trader, but it is strange to use, I do not like it. (I use IBs TWS with button trader as order entry, and Sierra Charts for charting)

 

So with IB I use 3 different Software, which in TradeStation you have all in one.

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.


  • Topics

  • Posts

    • BMY Bristol-Myers Squibb stock, nice top of range breakout at https://stockconsultant.com/?BMY
    • ENTA Enanta Pharmaceuticals stock watch, pullback to 7.26 double support area with high trade quality at https://stockconsultant.com/?ENTA
    • MWA Mueller Water Products stock watch, pullback to 24.85 support area with bullish indicators at https://stockconsultant.com/?MWA
    • META stock watch, with some good buying at the 626.2 triple support area at https://stockconsultant.com/?META
    • Date: 10th March 2025.   SNP500 Hits a 6-Month Low: Trade Policy & Recession Fears Weigh on Market`s.   The SNP500 completes a 3-week decline and falls to its lowest price since September 2024. The price continues to remain under pressure from President Trump’s trade policy. In addition to this, investors are becoming increasingly cautious about a potential US recession. SNP500 - Trade Policy and The Federal Reserve’s View On The Economy The US Non-Farm Employment data on Friday read lower than what analysts were expecting. However, the data does not yet indicate a recession. Investors are increasingly showing a lower risk appetite and cautiousness due to Trump’s trade policy on China, Mexico and Canada. The NFP Change read 151,000, 8,000 lower than predictions and the Unemployment Rate rose to 4.1%. The poor price movement is more driven by comments from the US President. Yesterday evening on Fox News, the US President addressed concerns about a potential US recession, advising the economy will undergo ‘a period of transition.’ However, some see this as a subtle warning of a short economic downturn. Though the Chairman of the Federal Reserve is taking a different tone and looking to reassure the market.     Mr Jerome Powell advises the FOMC is not expecting or worried about a US recession. ‘The US economy remains in a strong position despite heightened uncertainty,’ Powell stated at a University of Chicago event. He also said that sentiment readings have been a reliable tool for predicting consumption growth in recent years. ‘There is no need to rush, we are in a good position to wait for more clarity,’ was his answer to questions about interest rates. On the one hand, the SNP500 may witness support from the positive comments from the Fed regarding the economy. He also clarified that certain economic indicators are not predicting a recession regardless of the lower figures. However, the comments on interest rates and keeping them unchanged for a longer period can pressure the price of the index. Will The SNP500 Continue Declining? The FedWatch tool indicated a 92% chance of a pause in this month’s Fed Rate Decision, but the figure has risen to 97%. If the possibility of a rate cut continues to be unlikely in the near future, the SNP500 may continue to remain under pressure. Currently, the VIX, an index used as an indication of risk, is trading more than 4.00% higher. For this reason, the VIX continues to indicate a poor performance in the short-term. Asian and European indices are trading lower this morning as are US indices. As a result, the performance of the global stock market shows a ‘risk off’ sentiment. SNP500 - Technical Analysis The price of the SNP500 is currently trading 0.73% lower and gains bearish momentum as the European market opens. In the 2-hour timeframe, the price is trading below the main Moving Averages and VWAP. The index also remains within the ‘sell’ zone of the RSI and MACD. On the 3-minute chart, the price remains below the 200-bar SMA and sell signals may continue to materialize for as long as the price remains below this level.     Key Takeaways: The SNP500 has declined for three consecutive weeks, hitting its lowest level since September 2024. The main cause of pressure is from Trump’s trade policies and recession concerns. Weaker-than-expected US employment data raised caution. However, the Fed reassured markets, stating there is no imminent recession and no rush to adjust interest rates. The FedWatch tool now shows a 97% chance of a rate pause, reducing hopes for near-term cuts. Technical indicators suggest continued bearish momentum, with the index trading below key moving averages and remaining in the sell zone on RSI. Always trade with strict risk management. Your capital is the single most important aspect of your trading business.   Please note that times displayed based on local time zone and are from time of writing this report.   Click HERE to access the full HFM Economic calendar.   Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding of how markets work. Click HERE to register for FREE!   Click HERE to READ more Market news.   Michalis Efthymiou HFMarkets   Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in Leveraged Products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.
×
×
  • Create New...

Important Information

By using this site, you agree to our Terms of Use.