Monday, 7 November 2011

Interactive Brokers - First Impressions

I finally got around to setting up my new brokerage account and ended up going with Interactive Brokers. I just couldnt go past the number of currencies / markets I could trade in coupled with the amazingly low costs.

The biggest downside so far has been the time required to set the account up. From starting my application to getting all my certified documents sent through and approved and funding my accounts it is a 1 - 2 week process (not the few days they suggest).

I'm not completely sure how to use the interface just yet however it does not appear to be as user friendly as my old Commsec account. Hopefully this is because it has extra functionality as opposed to being an archaic system. I will post updates as I become more familiar on how to trade with this software. Now the big decission is what to buy with my first trade!