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How often do you switch brokers?
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How often do you switch brokers?

  #1 (permalink)
Site Administrator
Manta, Ecuador
 
Futures Experience: Advanced
Platform: My own custom solution
Favorite Futures: E-mini ES S&P 500
 
Big Mike's Avatar
 
Posts: 46,237 since Jun 2009
Thanks: 29,349 given, 83,135 received

How often do you switch brokers?

New poll on forum homepage, please vote there and discuss here.

Mike

Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.

Need help?
1) Stop changing things. No new indicators, charts, or methods. Be consistent with what is in front of you first.
2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses.
3) Set goals for yourself to reach daily. Make them about how you trade, not how much money you make.
4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance.
5) Where to start as a trader? Watch this webinar and read this thread for hundreds of questions and answers.
6)
Help using the forum? Watch this video to learn general tips on using the site.

If you want
to support our community, become an Elite Member.

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  #2 (permalink)
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  #3 (permalink)
Student Of The Markets
New York
 
Futures Experience: Intermediate
Platform: Sierra Charts, TOS
Favorite Futures: E-mini S&P 500
 
Posts: 753 since Aug 2010
Thanks: 448 given, 433 received


I was with Velocity for over a year and they were my 2nd broker in the 3 years I have been trading. I had no data feed connections problems or customer service problems. It wasn't until PFG fiasco that I decided to find out more about my broker and when I found information on an executive with felony charges as listed Case Summary that I decided to make a change. It seems like a coin toss when making the decision with what broker fits my needs and who I felt the safest with. I had decided on Mirus, and Dorman for clearing who I had with my first broker, but time will tell on my satisfaction with them.

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The following user says Thank You to itrade2win for this post:
 
  #4 (permalink)
Elite Member
Dartmouth NS
 
Futures Experience: Intermediate
Platform: MC, MC.Net, NT, TWS
Broker/Data: IB / IQFeed / Kids
Favorite Futures: Forex, stocks
 
bnichols's Avatar
 
Posts: 638 since Feb 2010
Thanks: 64 given, 459 received

My sons use brokers that cater to would-be currency traders with smaller accounts. While I've shunned them mostly from middle aged stodginess (I like one-stop shopping) have to admit some of the perks (including tick data back to the Stone Age) may convince me to open a currency trading account with them.

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  #5 (permalink)
Elite Member
Philadelphia
 
Futures Experience: None
Platform: corded black telephone
Favorite Futures: ticker tape
 
Itchymoku's Avatar
 
Posts: 2,891 since Apr 2012
Thanks: 1,678 given, 3,615 received

Hey, I like the Idea of polls, but do you also have a section that shows all of the polls?

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  #6 (permalink)
Student Of The Markets
New York
 
Futures Experience: Intermediate
Platform: Sierra Charts, TOS
Favorite Futures: E-mini S&P 500
 
Posts: 753 since Aug 2010
Thanks: 448 given, 433 received


Itchymoku View Post
Hey, I like the Idea of polls, but do you also have a section that shows all of the polls?

Go to the community section at the tabs on top and click on "Trading Polls"

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The following 2 users say Thank You to itrade2win for this post:
 
  #7 (permalink)
Membership Revoked
Ontario, Canada
 
Futures Experience: None
Platform: NT
Broker/Data: IB
Favorite Futures: gold
 
dario1's Avatar
 
Posts: 405 since Jan 2012
Thanks: 62 given, 52 received

How often do you switch brokers?


I try to stay with the one (big and strong like IB) and focus more on trading

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  #8 (permalink)
Trading Apprentice
Paris, France
 
Futures Experience: Advanced
Platform: Tradestation, MultiCharts, TWS, ButtonTrader
Broker/Data: IB
Favorite Futures: ES, EUR/USD, Oil, Gold, Stocks
 
NoBias's Avatar
 
Posts: 16 since Feb 2011
Thanks: 1 given, 13 received

When I initially started trading intra day I used Tradestation and Infinity Futures [Introducing Broker to Transact].
After a few negative experiences with TS and platform connectivity issues with Infinity I quickly switched to Interactive Brokers.

IB has remained my Primary intra day Broker. I see no reason to switch. Slightly higher commissions are a price I gladly pay to protect my capital, access multiple markets and instruments with the flexibility the portfolio margin acct provides.

I do believe in Capital Diversification as I do Asset Allocation/Diversification, and distribute my swing, longer term positions and investments across multiple brokers/banks [US and European] to eliminate "concentration" risk for lack of a better term.
[we can never completely guard against systemic risk, but we can attempt to mitigate the exposure]

I trust no one, nor no financial institution 100%. [not even IB]

I do not use 2nd tier brokerage's or Banks.

First hint of trouble in a financial institution, I will transfer funds out, ask questions later...

Capital preservation is my highest priority.


Last edited by NoBias; August 23rd, 2012 at 11:26 AM.
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  #9 (permalink)
Site Administrator
Manta, Ecuador
 
Futures Experience: Advanced
Platform: My own custom solution
Favorite Futures: E-mini ES S&P 500
 
Big Mike's Avatar
 
Posts: 46,237 since Jun 2009
Thanks: 29,349 given, 83,135 received

Poll closed, results:

Please register on futures.io to view futures trading content such as post attachment(s), image(s), and screenshot(s).


Mike

Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.

Need help?
1) Stop changing things. No new indicators, charts, or methods. Be consistent with what is in front of you first.
2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses.
3) Set goals for yourself to reach daily. Make them about how you trade, not how much money you make.
4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance.
5) Where to start as a trader? Watch this webinar and read this thread for hundreds of questions and answers.
6)
Help using the forum? Watch this video to learn general tips on using the site.

If you want
to support our community, become an Elite Member.

Reply With Quote

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