Backup trading account

Discussions about brokerage firms for futures, stocks and other tradeable instruments.
Post Reply
jgh2020
Full Member
Full Member
Posts: 20
Joined: Wed Jan 02, 2008 6:31 pm

Backup trading account

Post by jgh2020 » Sun Jan 30, 2011 9:06 pm

I just opened a new account with Interactive Brokers. IB suggests to maintain "alternative trading arrangements in the event IB trading system is unavailable". How many traders out there have a "backup" trading account at a different broker in case something like this happens?

rhc
Roundtable Knight
Roundtable Knight
Posts: 464
Joined: Tue Nov 18, 2008 8:46 pm
Location: Oz

Post by rhc » Mon Jan 31, 2011 5:23 pm

I suppose the ideal situation would be to have;
1) a backup trading account (as IB suggests)
2) a backup computer/laptop
3) a backup copy of Blox on the backup computer/laptop
4) a backup internet service provider

Personally, all I have is item 2)

Moto moto
Roundtable Knight
Roundtable Knight
Posts: 427
Joined: Mon Jun 01, 2009 4:12 am
Location: once again in the UK

Post by Moto moto » Tue Feb 01, 2011 12:00 am

additionally as all good disaster recovery processes should cover - dont forget to actually test it.
After the recent floods here in Australia, there were a few brokers whose backups worked perfectly and others were lacking.
Otherwise its like forgetting to fuel up the getaway car and ruining a perfect plan.

Post Reply