DislikedI sure hope the talk here recently about inaccuracies is incorrect but after seeing my account value from yesterday & today after the up move in corn today has me scratching my head a bit. My account is about 95% corn related & even with the decent move higher today, the account value didn't move up a bit from yesterday. This I haven't noticed until today. Looking @ the financials of the company, nothing to brag about & insiders continue to sell. Sure would hate to have to move as they have the lowest commission costs but now I'm not sure I trust...Ignored
You raise a good point though with the poor financials and insider selling. I'd read about the rating downgrade and drop in client DAT previously, but today was the first time this year I'd looked at their financials and when you combine all the information it doesn't paint a very reassuring picture. Unfortunately, Peterffy is a market insider who has testified before the U.S. Senate against banking regulations -- not exactly the kind of leadership you want to see if you're concerned about client-focused business ethics. If you start to notice serious irregularities with your account, don't wait until it's too late to jump ship.
That said, I doubt any brokerage is any more trustworthy than another. Businesses are only as trustworthy as the laws and regulations that force them to be, particularly in the financial sector, but even the best of companies are subject to human error. The only defence is to keep good records and verify all transactions personally. The stock portfolio I actively manage (forty times larger than my IB portfolio) is with Questrade, and over the years I've found several errors (all minor, all human error, nothing malicious) so you should never allow yourself to become complacent.
As far as I'm aware, here in Canada there are only three realistic choices: Oanda, which is purely FOREX and nothign else; Questrade, the only option for stocks, etc. held in RRSP, RIF, and TFSA accounts (and physical metals, interestingly), but they don't offer commodities and their FOREX commission is anywhere from double to quadruple the rates of Interactive Brokers; and Interactive Brokers whose services you're obviously already aware of. Since I trade futures I don't have a choice but to stick with Interactive Brokers for the time being for day/swing trading. Hopefully you have more choices where you live in case you do decide to go with someone else.
I'm curious: Why do you focus on corn? Are you or your family farmers or is there some other reason you've made this your focus?
You can always make money tomorrow provided you don't lose it today.