Critique of IBKR

Which platform do you guys use the most frequently?
I tried the browser-based, pro tradestation. They are all horrible! The user interface looks like from the 90’s or maybe still is and cumbersome to use. Super bloated software not to mention the constant disconnection issues. So bad… Swissquote sucks too, but it at least works…

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Client portal and IBKR Mobile.

Hmm, it was supposed to be eliminated in October 2021.

Web Client Portal and IBKR Mobile (Pro App) :slightly_smiling_face:

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web client portal is for amateur trader at best. A lot of standard features are missing, option chain is a joke, trade history is missing or not complete. I am just in awe.

TD Ameritrade beats IB by 1000 miles.

yea, but it’s not on the same level as TD Ameritrade or Fidelity or Schwab. A lot of simple features are simply incomplete or missing.

Most people on this forum just buy ETF shares for as cheap as possible and hold forever so IBKR is still best suited for that.

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That’s true. I trade a lot of options and IB is not made for that. But it’s cheap, so it’s good. I was just shocked to see the user interface. I was expecting something better considering the well-known name. :smiley:

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Sure. Remind me what is their fee for exchanging 10k CHF to USD?

Everything was already checked and discussed dozen of times.

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Traders Workstation is used by profis and it has tons of features, although not the most nicest UI experience, I admit.

So your platform preference is solely based on currency exchange fees? How often do you do that?
That’s a bit far-fetched.

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Every time you want to invest your earnings?

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Ok, that’s a different investment style. I trade actively, so it’s a different story.
IB is perfect for people who invest and forget. I give you that. The UI still sucks. That’s a fact.

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Then you are not going to make a lot of friends here :laughing:. Common knowledge is that most people or hedge funds can’t beat the market so if you want to bet that you are this extraordinary person able to do that go ahead but this is not the general consensus on a FI(RE) forum :grin:.

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I’m not trying to beat the market. I trade options to hedge against risks and lower my cost basis and sometimes for income or for fun. I didn’t judge or question other people’s investment style or decisions. I only judged the UI and user experience of IBKR. That’s it.

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TWS. It’s by far the best and it has lots of nice and useful tools and features, e.g. the rebalancing tool, etc. It is much easier to buy several things at once on the web GUI you have to search for the title you want to buy then fill out some stuff and order and then repeat until you bought everything. I think the web client is a PITA. TWS is basically like an Excel sheet you enter your stuff and hit the button and all orders are out. With the rebalancing tool it calculates automatically what it needs to buy according to your allocation and you can create all orders with one click. Much more convenient.

Unlike the common believe there are some active traders on this forum, like me, and I feel exactly the same. I often find myself on other websites/apps researching, charting, filtering etc. because IBKR just sucks. I understand that TWS is so powerful and being used by serious professionals but cannot understand how it is not improved in a more user friendly way for retail investors until now.

I also tried to find an alternative but unfortunately without success. The most I could do is searching for how-to videos on YouTube for TWS. Thanks that you bring it up here and wish someone could come up with an alternative or some constructive reply about how to deal with it.

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Does it help?

What for?

It’s good to have different opinions as long as our discussion stays on a civilized track.

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Is this a joke or are you being salty?

Being sarcastic or is that a serious question? :joy:

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@Bili Glad to see someone is on the same page. I understand that not everyone is a sophisticated trader. As I work in the financial industry and in the investment area, this is my bread and butter. It’s natural for me to trade and stay actively in the markets.

TWS has such a horrible UI, I used to see this in the 90’s. IBRK is reluctant to change the layout, it tells me that they aren’t willing to upgrade their software which is bummer. The whole thing is bloated and you have to tweak and customize the heck out of it for it to be usable.

Have you used thinkorswim? The difference is night and day.

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