Alternative to IB / more user-friendly

Hi there,

Well, after some weeks using both brokers I would maintain both :wink:
I think that in general, TD is better. Better interface, quicker, cheaper :wink: etc… But… there is always a “but”

TD: (+ and -)

The (+):

  • Cheap, 0$ in all the transactions I did. Just one they took 0.12 $ because something related with the SEC… Nothing related with TD.
  • Cheap in options: 0.65 $ for 1 option. Really cheap.
  • Web interface less “nice” than IB but quicker and more useful… I prefer the functionality over the cosmetics…
  • Thinkorswim software… my good… years light better than Trade Workstation! Launching, using, etc…
  • They promise me a gift of 600$ for passing my portfolio there. I think the offer is still running. This money will cover all the fees for withdraw or small fees I’ll have with them.

The (-):

  • Withdraw money is really expensive but more or less like others. It’s 25$ for each withdraw. Since I don’t plan to withdraw any money I don’t care but if you want to take money every month…hummmm…
  • Only USD as currency! You cannot wire CHF or EUR… :frowning:
  • Only US Market. For me is OK because the European companies I have they are available in ADR, so I don’t pay the stupid taxes of France or Switzerland :wink: and I buy them in USD.
  • No interest in USD not used in your account… or really small. No interest in short positions neither. Any payment for lending stocks. I don’t know if the lend our positions, I think not, but I’m not sure. In IB you have money for all those concepts. Not too much but some.

Why I’ll maintain IB?: Because the multicurrency system at IB, because I’d like to have more than one broker just in case and because the changing, deposit currency of IB. I send the money to IB, exchange to USD and with ACH (Free) I send the money to TD.

Regards.

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