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Brokers and commissions

Kim

By Kim
in General Board

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Kim
Kim

I want to talk today about commissions. Lets assume that you buy a straddle for $2 ($1 each option). I have an account with IB (Interactive Brokers) and pay 0.70 per contract. So for me to do a round

Gary
Gary

I came across this thread and learned of a new resource that I hadn't heard of before - the SEC 606 report. Brokers are required to publish this report, which explains their execution practices and st

Stanislav
Stanislav

@Javier, First of all I use latest BETA version of ONE as I found it works better than a release version (for example I had a trouble placing VIX trades from ONE v1 - needed to switch to IB chains for

Posted Images

Ringandpinion Hero Member

Ringandpinion

Posted
Posted

That sets the "chart" or long period.  Then you adjust the individual candles/bars to the short time frame.  I usually keep a 1Year/1Day and a 1Day/1Minute chart up so that when I pick a stock in the watchlist I get both charts.

SureTrader Advanced Member

SureTrader

Posted
Posted

FYI. Etrade sent this message today. Maybe the same with the brokers too.

" Because the market is currently pricing in heightened uncertainty, E*TRADE will be increasing our base margin maintenance requirement (house margin requirement) from 25% to 30%, beginning Monday, October 19, 2020. "

anand331 Hero Member

anand331

Posted
Posted

Tradier is experiencing issues. My closing order is getting rejected with "Object reference not set to an instance of an object" error. Tradehawk flashed a message that there is an issue with Tradier. Just heads up.

rasar Hero Member

rasar

Posted
Posted
1 minute ago, anand331 said:

Tradier is experiencing issues. My closing order is getting rejected with "Object reference not set to an instance of an object" error. Tradehawk flashed a message that there is an issue with Tradier. Just heads up.

Yees. The website also isn't showing any dashboard values.

image.png

rasar Hero Member

rasar

Posted
Posted
Just now, anand331 said:

Must have been a new release :(

Made a quick phone call and they admitted they were working on the issue.

The freqency of these issues makes me wonder if I should, as I had planned, move more of my money to Tradier. At present I only have a small position with them, so I'm not too concerned. Had the majority of my trades been on Tradier, I'd be a lot more agitated.

CJ912 Hero Member

CJ912

Posted
Posted
Just now, rasar said:

Made a quick phone call and they admitted they were working on the issue.

The freqency of these issues makes me wonder if I should, as I had planned, move more of my money to Tradier. At present I only have a small position with them, so I'm not too concerned. Had the majority of my trades been on Tradier, I'd be a lot more agitated.

Since I have moved the bulk of my trades to tradier , I have not experienced any serious issues. I have had issues with Tradehawk (especially their mobile app) but not so much with Tradier

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Ringandpinion Hero Member

Ringandpinion

Posted
Posted

@CJ912Aren't Tradehawk and Tradier kind of the same outfit, like TDA and TOS?  I'm thinking of refunding my account with IB.  They'll think I'm psychotic, this will be the 3rd time in 4 years I've moved my cash in and out.  @rasarI'd like a backup too, at least if one platform is down you can hedge on the other if it is an emergency.  I'm just not sure if IB is the choice.  They lowered their minimum deposit at some point, it used to be higher, so they could be running at the edge of their capabilities too.  Sooner or later though, I'm going to have to quit over thinking it and just set up an account somewhere other than TOS.

CJ912 Hero Member

CJ912

Posted
Posted

Is anyone else experiencing issues with ONE/Tradier? Take the below as an example:

image.png

These are positions in USO, AMD and BA. Obviously a 1.78% move is not a -595.75SD move for AMD.....

 

(yes I did realize that I jinxed myself with my posts above here)

VCTX Jr.Member

VCTX

Posted
Posted

I saw the forum for analysis tools, but I'm not finding any posts anywhere on the relative merits of various brokerages. I'm with etrade and getting the sense that the tools it offers are somewhat lacking compared to some of the other brokerages that seem to be popular here (mainly IB and ToS). if there's a discussion of this somewhere I'd appreciate a pointer; otherwise, is anyone else happy using etrade's analysis tools to evaluate SO type strategies? Perhaps I'm missing something in the platform.

  • 5 weeks later...
rasar Hero Member

rasar

Posted
Posted

Tradier has begun acting flaky again. The website randomly freezes, then comes back with a zero balance, or logs you out. Logging in works for a few minutes, then the Account Balance and Buying Power on top of the screen keep changing in real time between some value and zero.

I guess that's what one gets for "free" trades.

rasar Hero Member

rasar

Posted
Posted
22 minutes ago, J Carter said:

seeing the same on my end @rasar . You using Tradehawk or just Tradier (I'm Tradehawk). Frustrating but at least there are no urgent trades that I need in or out of for the rest of the day.  I wonder if any of my GTC orders will fill if the prices are hit???

I'm just using the Tradier Dash website. It's ridiculously frsutrating being blind to my positions and trades.

Javier Hero Member

Javier

Posted
Posted

Do You know if They come up soon?. I am sending trades through One, and receive no feedback, so I don't know if received (one or several times what it is worst), executed ... This is absolutely unacceptable, especially on Friday.

Next labor day I will close my account, I'd rather pay commissions (never thought I would say so).

Peeyotch Hero Member

Peeyotch

Posted
Posted
2 minutes ago, Javier said:

 

Next labor day I will close my account, I'd rather pay commissions (never thought I would say so).

I've said before in this thread, I consider the commissions I pay to be insurance. To this point, IB has never let me down. That's not to say it never will, but I know they pride themselves on maintaining a stable platform. These new commission free brokers are more like tech companies that do brokerage. As I work in the tech industry as a software developer, I would NEVER trust my account to one of these companies. 

  • Upvote 1
Javier Hero Member

Javier

Posted
Posted
1 minute ago, Peeyotch said:

I've said before in this thread, I consider the commissions I pay to be insurance. To this point, IB has never let me down. That's not to say it never will, but I know they pride themselves on maintaining a stable platform. These new commission free brokers are more like tech companies that do brokerage. As I work in the tech industry as a software developer, I would NEVER trust my account to one of these companies. 

Fully agree, just testing with a small capital, gross is in IB, and lesson learned. I only have a few positions open in Tradier. Could You imagine if I had dozens open and any end of Week and Month You are not aware of what is happening (BTW, They e-mailed me a few hours ago that I have positions expiring Today, that I am not aware of) You never end learning in this World. 🙂

rasar Hero Member

rasar

Posted
Posted
30 minutes ago, Bull3t007 said:

Same here, still need to close MDT shorts. Hopefully fixed soon.

Call them - they will execute the trades for you.(980) 272-3880

  • Thanks 1
Gen88 Advanced Member

Gen88

Posted
Posted
4 hours ago, Peeyotch said:

I've said before in this thread, I consider the commissions I pay to be insurance. To this point, IB has never let me down. That's not to say it never will, but I know they pride themselves on maintaining a stable platform. These new commission free brokers are more like tech companies that do brokerage. As I work in the tech industry as a software developer, I would NEVER trust my account to one of these companies. 

What’s your experience with their customer service? Do they have email support and their estimated response time? 

Peeyotch Hero Member

Peeyotch

Posted
Posted
1 hour ago, Gen88 said:

What’s your experience with their customer service? Do they have email support and their estimated response time? 

They have support through email and secure messaging on their customer portal, and it has worked well the couple of times I've had to use it. Questions were answered reasonably promptly. More important to me is the time I had to call the trading desk when my internet and mobile data went down during a storm on expiration Friday. They were a bit brusque, but they were very efficient and did exactly what I asked them to do. That's been some years now, I can't say what it's like today. Maybe someone else has more recent experience with their trading desk.  

Gen88 Advanced Member

Gen88

Posted
Posted

Thanks. Appreciate the feedback. I was  on the fence with IB before due to the customer service. Currently I’m trying to get a backup broker as I have tradier.

  • 2 weeks later...
Ringandpinion Hero Member

Ringandpinion

Posted
Posted

11/9 and 9/15, I'm still wondering if it is due to all the new accounts or if that is just BS chatter.  But TOS going down several times recently is why I looked for another broker in case one went down I could at least hedge in an emergency.

kl11 Jr.Member

kl11

Posted
Posted

IMPORTANT: Due to a technical issue clients may be unable to connect through our web, mobile, and desktop trading platforms. We are working to address the issue.

kl11 Jr.Member

kl11

Posted
Posted

doesn't look good..

INTERACTIVE BROKERS SAYS IT HAS EXPERIENCED A SIGNIFICANT FAILURE IN MULTIPLE SEGMENTS OF A DATA STORAGE SYSTEM
INTERACTIVE BROKERS SAYS ASKED VENDOR FOR ANALYSIS AND RECOVERY, IS REROUTING TO BACKUP RECOVERY CENTERS

mccoyb53 Hero Member

mccoyb53

Posted
Posted
27 minutes ago, mccoyb53 said:

I have had issues today but have been able to log in after logging out again. Have been able to place trades as well.

Using mobile app I was able to close a few trades today. I am in Europe though.

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