Interactive Brokers

Interactive Brokers

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1 review

Listed in Options Brokers

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Interactive Brokers Group serves investors who interact with world markets. It performs trade order management, execution, and portfolio management services through its Interactive Brokers subsidiaries and electronic market-maker Timber Hill. The group provides access to about 100 electronic exchanges and trading centers worldwide, executing nearly one million trades per day in stocks, options, futures, foreign exchange instruments, bonds, and mutual funds. It caters to institutional and experienced individual investors.

Interactive Brokers Group and its affiliates’ equity capital exceeds $4.8 billion. They are the largest US electronic broker based on daily average revenue trades executing 407,000 trades per day.

July 13, 2015

There are so many problems with this broker; it’s hard to know where to start. I’ll create a list of the issues I have had there:

1. Their option quotes can be off, and they do not work when the market is closed.

2. Their Net Liquid in their software never matches their statements. During the live markets your account balance can be drastically wrong which can lead to buying power issues.

3. During live markets the P/L shown in their software is always wrong. You never know how much money you really have. You cannot tell if you are making or losing money.

4. The Greeks can be totally off in their software too.

5. Their software uses faulty algorithms for Portfolio Margin accounts. Some times they will increase your buying power to reduce risk, especially on expiration day.

6. Constant software issues. Their software at times will not display MID prices. Their quote panel always opens up strangely configured. It won’t keep it’s layout. It’s very easy to reverse trades and send them in backwards because their design is so bad.

For a broker with so many clients and years in the business, they do not show any integrity. Their software is buggy and designed by programmers, not traders. That is what they told me on the phone.

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