Any reviews for Interactive Brokers for Indian Markets?

Hi, guys,

I was wondering if any of you could give me your review on trading stocks, F&O through Interactive Brokers. They are very popular in the US and their infrastructure is very robust and reliable particularly their desktop software which comes free of cost with the account. I would like to know does it remain when trading in Indian Markets.

The reason is I really like their desktop software which is way better than Pi(Don’t know why zerodha made such a pathetic software) and I can’t find any other. If you could suggest me some that would be highly appreciated.

Thanks!

zerodhas kite is good than others since it works in all platforms i have tried traditional brokers softwares its more pathetic !!

Not really! IT misses key features & functionalities that are especially required for day traders!. Zerodha Kite is not at all suitable for day trading. Their execution time is really slow and it usually the latency is kinda low which may not be noticeable however, makes a big difference when it comes to day trading.

I really hope they are working on a really great software as of currently no such softwares exist that can compete with the US trading softwares. It really is a good opporutnity.

Please explain this

The biggest drawback I would say with IBKR is they don’t credit the funds in the trading account in real time. You need to NEFT or IMPS the money to your trading account and IB credits this money after a minimum of 3 hrs and sometimes max 5 hrs. This alone is such a deal breaker.

Well, that makes sense but I am willing to make a trade-off there as IBKR’s software is too good of a proposition. @nithin can you please give an update on the software you guys have been working on with an international reputed firm you mentioned in April.

Thanks!

IBKR is good if you are an NRI/OCI where you can avoid all hurdles and tax complications for futures/options/ETFs and stocks.

IBKR have massive info, if you want to be professional over the time, I recommend it

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Thanks!! You use IBKR regularly?