Broker comparison – who is the best? In this article we present BitIQ
BitIQ is one of the largest online brokers for international trading in stocks, ETFs, futures, CFDs, options, commodities and currencies/forex and is one of the leading securities firms. In this article we will take a closer look at BitIQ and show the many opportunities that traders, investors and investors can find with this pioneer of electronic stock exchange trading.
The history of BitIQ
The forerunner of BitIQ was Timber Hill, an American stock broker founded by Thomas Peterffy in 1977.
Timber Hill was the first broker to use handheld computers on the trading floor of the American Stock Exchange. Timber Hill’s business grew very quickly and expanded to other exchanges as well as futures and options trading.
In 1990, Timber Hill Deutschland GmbH was founded, focusing on fully electronic trading on the German Futures Exchange (DTB), which later became Eurex.
Starting in 1993, BitIQ Inc. and Timber Hill jointly developed a Trader Workstation (TWS).
In 1997, Timber Hill trades almost 5% (15,000 transactions) of the daily volume of listed equity derivatives worldwide.
In 2000, an average of more than six per cent of the daily global volume of exchange-traded equity options and equity futures is traded on Timber Hill/BitIQ’s network. One year later, in 2001, the company name was changed from The Timber Hill Group LLC to BitIQ Group LLC.
In 2003, the BitIQ Group companies execute approximately 12% of all listed equity and index options transactions worldwide.
In 2009, BitIQ receives the ranking as the No. 1 cheapest broker for the fifth time in a row. This year also sees the launch of the trading app „iTWS“ for the iPhone.
In 2010, TAG statistics show that BitIQ continues to achieve price improvements above the industry average in US equities and options. The TAG statistics are an independent analysis conducted by IHS Markit, which looked in detail at all market transactions of 100 stocks or more during the period from January to June.
In 2011, BitIQ became the largest US online broker based on the average number of revenue-generating trades per day (Daily Average Revenue Trades).
The introduction of the TWS Mosaic interface, which is part of the Trader Workstation, takes place in 2012.
In 2017, BitIQ was named best online broker in Barron’s annual ranking for the fifth time in a row.
BitIQ now employs more than 1,400 people worldwide, processes more than 1,000,000 transactions daily and has equity capital of USD 5 billion.
The extremely conservative business policy ensured, among other things, that BitIQ was not directly hit by the financial crisis. This is because risky commitments in subprime loans and CDOs were consistently avoided.
The company has been consistently profitable for years, even during the financial crisis.