The drawback is that they are no frills and you have to use their software which is not web
browser based. Their software gives you a quote screen with realtime updates and point and
click trading. You can make a trade with 2 mouse clicks (this can lead to inadvertant trades,
but is good for speed). The executions are within seconds usually. Options will sometimes take
a minute, but can be instant. Portfolio values are updated every minute. They send daily trade
statements by email only and only keep the last 20 days on their website. They do send a
monthly statement. I dread doing taxes next year. You can trade from 8 to 8 and choose your
exchange or have your order automatically routed to the exchange with the best price. I have
been able to contact them by phone more easily than any of my other brokers. However, they
discourage you from placing trades by phone and charge $30 for this service. (they may only
let you close positions by phone, but I'm not sure of this.)

The biggest problem is that their software doesn't always connect rapidly and will occasionly
quit on you. Sometimes I've found that the trade won't go through on the first attempt, but
always does on the second. Occasionally this has led to double executions.

I have used etrade, ab watley, datek, and edreyfus as well. I would say that their service
problems are on par with the problems I've had with these other brokers, their executions
are faster, and the costs are much less of course. If you are an active trader without big
bucks, you will save a bundle by using Interactive Brokers. It's definitely worth the minor
nuisances of the system.

Note: They have recently improved their data feeds and I've had very few problems lately 6/00.