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You know, Interactive Brokers has its own set of problems, specially when you use it with ninja trader... And their customer service is not acceptable. So you have to consider that.
As far as the account statements, ninja and other brokers have this info within their platform which can be exported to excel, even transact lets you do that, something I do for record keeping and statistics. I encourage everyone to do the same. So i guess its really not an issue for me, i just check the statements for accuracy....
I also hate to say this, but its better to check yourself instead of asking the IB such as mirus or amp about stuff like this, bc some of them have no idea what their talking about, sad but true....
For example, you want to contact velocity for ninja/TT fix if you have questions, since thats who they clear through. Same with zenfire, you want to contact either RCG or Dorman, not mirus.
Can you help answer these questions from other members on NexusFi?
Thanks Sam. Opened the IB account today, and the more I look at what they have available - from order types to reporting to documentation / webinars - the more impressed I am. Will probably move to ButtonTrader at some point, though plan to start with TWS to become proficient with the core execution platform first.
I've just opened my account with IB and so don't have a track record to report on, though my experience with that process has been good. Will be curious to see if that lasts.
A call to customer support (same line for new and current clients) was answered quickly, and the rep was a former floor trader who took as much time as needed to answer my questions.
Chat sessions to answer other questions were answered within a couple of minutes, and the info provided was on point.
Started and finished the account application this morning, sent a wire at 3:30 Eastern time. The account has already been approved and the wire has already arrived. I'm impressed that a wire sent that late in the day was credited to my account that evening. When I sent a wire to Mirus (clearing through Dorman) last week at the same time of day, it didn't hit my account until 2 pm Eastern time the next day. Not a big issue, but IB's timing was a nice surprise.
Their reporting and risk management tools look very strong. Can customize reports and export them in a variety of formats, including XML - very useful for pushing the data further on my end.
Ninja's trade log is accurate only for orders executed through Ninja. With Mirus, RTrader does provide a nice alternative - it grabs order history from a server, so the history is complete for orders whether executed with RTrader or not. But either way, Mirus made it clear that the statements are the only true record of trades - the Ninja or RTrader logs mean nothing in the event of a dispute. Without execution times, statements have limited use.
And although I like Ninja's performance stats, the fact that a monthly fee is required to be able to enter bracket orders is ridiculous. That doesn't qualify as 'Advanced Trade Management' in my book. No matter, though - since Ninja keeps OCO orders on the local workstation and not the server, it presents unacceptable risk even with the monthly fee.
Yes, I've found that Mirus staff don't seem to know much about any of the trading tools they offer other than Ninja. Even got some questions and attitude about why would I want to run Strategy Runner when I asked about it, despite the fact that it's listed as a platform option on their site. I'm not seeing much benefit to using an IB at all, would rather open an account directly with an FCM. Don't need the hand-holding that some IBs say differentiates them from the larger firms.
