FishbackJ,
Thanks, but don't let the article totally dissuade you from putting funds into what could be a profitable account. Heck, I'm about to try an IB account myself. It just pays to be cautious, is all I'm saying (and to be cognizant of the true value, and problems, of SIPC).
I suppose brokerage diversification is as worthy an objective as asset diversification. I would certainly feel safer putting the greater percentage of my assets in what would qualify as a "T-Bill" sort of brokerage firm, rather than putting everything into a smaller entity. Not to preclude the smaller entity, but just to be cautious about how much to invest in it.
I recall I almost put funds into MB Trading long ago, when it was just starting out. I hesitated, perhaps improperly, and finally put a little bit into ABWatley. Later, since the systems were pretty much the same, I moved that little bit over to CyberTrader, in large measure because of the sense of security afforded by its new parent, Schwab.
Best regards,
Gary Korn |
