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Looking for another platform for day trading.

Posted on 5/2/24 at 1:13 pm
Posted by BCreed1
Alabama
Member since Jan 2024
1229 posts
Posted on 5/2/24 at 1:13 pm
When I was with TOS, my day trade account had 4 times the purchasing power.

Just looking for suggestions.
Posted by Iowa Golfer
Heaven
Member since Dec 2013
10230 posts
Posted on 5/2/24 at 5:18 pm to
Interactive Brokers is the most sophisticated platform retail traders can get.

I don't really trade, but when I sell a large position I like that I can route it to dark pools so I don't impact my trade price.

At some point it would be nice if we could get legal access to contracts for difference, as opposed to having to hedge with single stock futures, but it is what it is right now. At least in the USA, unless that's changed and I'm unaware of it.

Their margin rates are really good. I have portfolio margin between various accounts, and I negotiated that down to 4.3%, which is smoking in the present climate. I think a retail trader can get to 6.1% depending on portfolio size. That makes a difference if you short a short. I know someone on here told me one time I was full of bologna becuase the cost to carry that trade was too expensive, but I think I'll believe my own experiences rather than a text book definition and explanation.

It's ala carte, so you pay for feeds, various market depths, etc.

Again, in my view, it's the best platform a retail trader / investor can get. It's not really designed for an inexperienced trader. It's not as unsophisticated as TOS as an example, which isn't a very good platform at all, for reasons I'm not going to take the time to type out.

It works well for me becuase I hedge between various assets classes. It can and will work for a trader also. Again, I'm not really a trader, although by some definitions, not accurate, I am.

LINK
This post was edited on 5/2/24 at 5:20 pm
Posted by bovine1
Walnut Ridge,AR via Tallulah,LA
Member since Dec 2004
1282 posts
Posted on 5/2/24 at 8:56 pm to
It's been awhile since I traded but I really liked Interactive Brokers. Best platform for my tastes and I liked their book trader algorithm.
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