Broker and Platform comparison: Interactive Brokers and Tradestation

Comparison of stock brokers and their platforms for active traders. I've been using both Tradestation and Interactive Brokers for over a year and this is my take on the two of them.

Category:

Education

Tags:

• stocks
• stock broker
• online brokers
• active traders
• charts
• technical analysis
• charting
• wall street
• financial markets

[moscarellimichele]

Hey thanks for taking the time to review these. Have a question, since Interactive brokers has a per share limit which is like $1 per 200 shares, what happens if you don't want to trade 200 shares, what if you want to trade less? Thanks in advance! :D

[Howardv]

@moscarellimichele They charge $1 minimum commission per trade. so whether you buy 1 share or 200, it's $1.

[chris6004]

Thank you for your kind information on this video.

About data feed IB to TradeStation: Which 3 part program are you using ? I did it with Dynastore and now I'm looking for a new solution.

For you kindly help I send you my thanks.

[Howardv]

@chris6004 Not sure what you mean. I traded with both. Each has their own data feed. Equities with Tradestation and futures with IB. I have now dropped Tradestation and place all my trades with IB. Currently, I'm using e-signal, but evaluating other platforms and data feeds. I haven't found a perfect combo yet.

[skk7963]

In IB also, we need to subscribe for different market data and pay for it. Eg: index options etc etc

[Howardv]

@skk7963 Correct. Lots of things aren't free, such as market depth data. But at least it's nice to get the subscriptions to the futures exchanges for free. That can really add up quickly at other brokers.

[nadzorka2929]

Remember these losers can be sitting and watching your screen as if it were theirs! I have had windows pulled out of my hand as i was moving them and then this hacker/criminal would start clicking on things in front of me then open word pad in front of me and type HEHEHEHE STOP ME! This is not abnormal these days most children do this every day to people and is a felony including people that follow your computer around to different servers and so forth it's stalking for starters!!

[nadzorka2929]

Don't be afraid to contact the FBI rather have your lawyers contact them over any computer related issue!!

[nadzorka2929]

One of the third things you want to do is have specific lawyers for your trading and and IT person and investigator to deal with the kind of threats that will are around this kind of work! Anyone that doesn't think their watched sometime or other are fooling themselves! All it takes is someone to see you with something nice then your stalked specially your computer then they find out you trade and that is that!!

[nadzorka2929]

Another goal is to become a member of the exchanges you want to trade with and get your own access just like the big boy's do! The internet is a horrible way to get access specially since everyone thinks their allowed to follow your computer around and break into it then laugh at you over it! I have already had a 20yo child break into my computer and make a smiley face with a charting tool in my live account and calls himself the sleepless watch keeper and dare me to stop him!!

[nadzorka2929]

What people need to work for is building a large account and my preference trading the DJIA and one of your first goals should be getting your account to six figures so you can make 1/2% to 1% size trades which means your making 20-40 contract trades (($500 to $1000)) and every single point is $500-$1000 so you don't need to make more than 5 or so point trades at a time ((In the morning)) and then your on auto pilot and trading is what you always wanted it to be!!

[nadzorka2929]

@moscarellimichele Once your settled in trading the market, meaning you find a place where your trades open and close the way you want and your not being manipulated ((which is 80% of trading not making successful trades 20%)) and you build your account to the point you can make larger trades you will gladly pay your broker a healthy commission! If you find an honest broker that allows you to trade successfully they deserve to get paid for that wonderful act!!

[sundancekid122]

can you feed tradestation data from interactive brokers somehow? I love how you can put multiple charts on tradestation at once.

[mjcongleton1]

Thanks for taking the time to make this video.

[GBOTAlgoTrading]

For an IB autotrading platform Google:

G-BOT Algorithmic Trading - Project and Platform

it allows to trade with one click directly on charts, and also purely automated trading

(also see our channel)

[cjacobs537]

Hey, what do you suggest if all I want are level II quotes. I only have about 7,000 in the market and use Fidelity. Thanks in advance.