Why I left Interactive Brokers?

EDIT:
My new broker (Alaric) provided me with a beautiful discount.
Using my code: JESSE or with the following link you get up to 35% of on your commissions.
(I do not even have that deal)

I have been trading for 2 years on Interactive Brokers and these are the reasons why I finally left the broker.
#interactivebrokers #trading #trader #daytrading #daytrader

[RoseSmith-vg]

I'm 54 and my wife and I are VERY worried about our future, gas and food prices rising daily. We have had our savings dwindle with the cost of living into the stratosphere, and we are finding it impossible to replace them. We can get by, but can't seem to get ahead. My condolences to anyone retiring in this crisis, 30 years nonstop just for a crooked system to take all you worked for...

[myquestionaskingaccount]

So to sum this up:
1. Its too slow for you
2. You dont check your emails

[johto]

So, it was basically your fault by not checking your email. Brah.

[jakestanbro]

You should start the video by explaining that you made your own mistakes, instead of waiting till the last 30 seconds to say that.

[NormalHuman]

I guess this broker is not for traders, but rather for long term investors, who want an access to a wide range of securities. But the problem with not moving the orders when migrating from UK entity to Ireland entity is embarrassing, it should be their responsibility to make their best to at least inform you via email

[bufordmaddogtannen]

You left because it was slow and shorting HTB stocks had limitations. Fair points.
All the other issues were self-inflicted because you could not be bothered to read emails.
Use filters, they can flag important emails for you.
Also you moved to a Bulgarian broker? I hope it works out OK for you.

[ShaferHart]

For non US nor any other major Western country's citizens IB is the most trusted broker you can be on. All the others based out of the bahamas and cayman islands (lol) don't even come close in terms of protections.

[tomspeed]

On the delisting of the CFD, this is most likely your failure as well. It is called knowing your positions. Keep up with news of stock your trading or have in your portfolio. I am sure the news was already out before the stock and CFD was actually halted. Your other complaint about your orders, open orders. Your mistake as well. Do you really think a broker is allowed to open orders for you on a new account number with a new entity. This is basically like moving bank. Like your move from ING to Saxo. Yes positions can be moved but certainly not open orders

[jonsmith]

I don't chart on IB but I daytrade with it, I find it plenty fast enough, my executions are seamless and immediate. I have seldom had no inventory on what I short. I think that part of your problem may have been horsepower. I have a very powerful trading computer and a 600mbps connection. I have traded with a slower laptop on poorer connection and yes its slow but that is an easy fix. I don't get any junk emails, I check my notification in the morning while I build my watchlists and its easy. I can't say whether they are best/worst or otherwise but most the "problems" you seemed to have could easily been remedied.

[braddeicide]

I had the exact same experience with verifying documents. They want documents, but won't tell you when they lose them. You need to call them over, and over, and over, constantly checking in on them and confirming receipt of documents because they won't reach out. I'd say their poor communication is responsible for 95% of their support workload.

[JoeyBlogs]

I will say that they appear to have fixed the application timeout issue on the web app. Now it asks you if you wish to continue, rather than just logging you out automatically.

[aurinator]

Another advantage of Interactive Brokers is their Margin rates, and being able to withdraw margined cash to your bank, essentially functioning as secured loans without having to go through a bank and almost always at considerably better rates even too from my experience.

[theoherro]

Great content, videos like this and insight from an expert helps.

[fabianstoll]

Day trading without live data? European Union is not Europe.

[saeeduchiha]

First, Brexit is something that happens usually once a life time. So, I wouldn't rule out IBKR over that glitch even though they should have tried to avoid such issue.
Second, my email management is really my responsibility, not IBKR. If my email is clutter and I can't pay attention to their notifications, I should have used a separate email, or a filter on my email, or double checked the notifications settings on IBKR TWS.
One thing I came out with was the video you mentioned in your video and that was helpful. I did watch it and it improved my IBKR TWS experience. Thanks for that.

[JoeyBlogs]

The phone and windows app are way to complicated to use. The web platform is OK. I've never had problems with order speed though.

[kylieprice]

I can feel your frustration. They won't let me trade. I have phoned them several times stating I want to trade directional and options with a cash account. They keep saying it's my liquidity and I need to look at my financial information and reapply. When I asked what's wrong with it because I'm showing plenty of security They say sorry I can't tell you that you need to change and reapply. So... frustrating! Do you or anyone reading this post have a suggestion who I can trade American stocks EFT'S from Australia without all this hassle?

[dru]

So what are you using here in Europe? I can't really find much I need to get into options trading but cant find much other than IBKRs

[radoslawbodys]

Not sure what your problem with Interactive Brokers really is, other than slow execution, which seems to be the only potentially legit argument in your video (although it seems most people with high-speed broadband connection and high-spec machines do not experience this problem either). Out of your three bad experiences; the first one was your f*up, because *you didn't know you were trading a company that was to be de-listed (I personally think this in itself disqualifies you from talking about trading publicly); the other two were Brexit-related matters, which have affected many companies in various industries and were outside of their control.

[guy]

Lol... it was your fault all along.. I have been with IB for 5 years. I love it