Backup trading account

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Backup trading account

Post by jgh2020 »

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?

Roundtable Knight
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Location: Oz

Post by rhc »

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
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Post by Moto moto »

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.

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