Interactive Brokers is hands down the best broker out there. I have tried many of them and they failed to meet my guidelines. They are inflexible, bothersome platform, app problems, can’t trade where I want, high commissions and a number of other reasons. Just to name a few I have used that I experienced these problems with.
OptionsHouse Inflexible, meaning, I couldn’t trade anywhere in the world. Everytime I leave the US for more than 6 months, they freeze my account and say I need to be in US territory to trade. Annoying. And their app wasn’t the best.
SogoTrade Just all around horrible. From lack of support to awful entry to whatever you can name. I couldn’t deal with them.
OptionsXpress Better among the lot but also wasn’t for me.
This is why I like interactive brokers.
The is by far what a lot of day traders look for because when making so many orders, you want to make sure a lot of your earnings are not going into the brokers pocket. With my average trade costing me less than $2, you can’t beat that kind of pricing.
I can literary trade anywhere I have internet without worrying. There are no restrictions in terms of your location and IP address. Interactive brokers is a global company and cover the globe. I love this. For a happtrader like myself who loves to trade while seeing the world, this is perhaps the number one reason for me.
Easy to use app
90% of my trades are through the app. I literary move my fingers on my phone to make money. I can be anywhere with a reception, I log into the encrypted app and bam, I am trading.
The margin rates are wonderful. Less than 2%. You can borrow a good amount without worrying too much because you make it in no time.
I like to know where my money is. I like that you can easily link third party apps into interactive brokers account management and track your money in real time. I have my interactive brokers account linked with mint for example so that I can keep up with things on the go.
They have the fastest order execution I have yet to experience with their smart ordering system. I simple love it. When I place an order, it reaches the price I want, boom, it’s gone. Easy and simple.
Among other great reasons why I would choose them any day, these are my favorite. Which broker do you use and why?