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Backup trading account
Posted: Sun Jan 30, 2011 9:06 pm
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?
Posted: Mon Jan 31, 2011 5:23 pm
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)
Posted: Tue Feb 01, 2011 12:00 am
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.