I am debating between using Lightspeed trading or Interactive brokers. Does anyone have a recomendation on which to use?
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Lightspeed trading or Interactive brokers.
I am debating between using Lightspeed trading or Interactive brokers. Does anyone have a recomendation on which to use?
I have never used Lightspeed, but I do have an Interactive Brokers account. I love their low commissions, and I've never had a problem with their platform. I definitely recommend them.
I could not use Interactive Brokers for their .005 per share pricing. To buy 4 thousand shares of KO would cost me 20.00 with them. With scottrade it would be 6 dollars. Notice they don't compare their price to scottrade.
I love Interactive Brokers, very versatile and you can integrate third party software (MS Excel, Ninjatrader, etc.) unlike Scottrade. I used Ninjatrader with IB as my day trading platform and I was extremely satisfied with execution speeds and data feed. You also have access versatility with TWS workstation, Web Trader, or just IB gateway. Did I mention you get to open a sim account too?
As far as commissions I don't even notice it or pay attention to it because it is seems infinitesimal. I think taxes are worse, I think. I talk about not paying attention too much to commissions in my book unless you're trading a very small account; I talk about Interactive Brokers too.
One last thing: One feature I love the most is I can execute some trades before or after regular trading hours--huge bonus. I mean if I had owned Netflix I would most likely have been stopped out before that 25% plunge after hours.
