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I re I really don't know where the orders are executing. All I do know is my limit orders have hit my price several times and I have yet to receive a fill on exit with Firstrade. They are ITM butterfly spreads on the NDX if that makes any difference.

I'm not entirely sure where Firstrade sends orders to be executed. I know that they clear through Apex, with Citadel being the main dealer apparently. Also they list 5 exchanges, including CBOE.

Oh by the way, I forgot to mention in my last post that Firstrade are also a zero commission broker for stocks, options, funds etc. So PFOF is their main source of income, which I believe directly impacts fills for retail customers.

Thank you for your input, very interesting points you make here. I have only been with two options brokers so far, Tastytrade and Firstrade. Both use Apex for clearing trades. I had the same difficulty getting orders filled at mid on Tastytrade, and I only ever had one trade fill on exit for a...

I am trading options, not futures.

Yes I accept that point. But sometimes there is nothing wrong with trading at the bid/ask. These fluctuate a lot as well with my strategy. But mid price is a cheaper way of trading, not to mention I was able to fill at mid on entry a few times. Firstrade has never filled me at mid on exit, in...

Is that good or bad?

When I was with Tastytrade I had the same trouble getting orders to fill, especially at the mid price. Both Firstrade and Tastytrade clear through Apex. I'm seeing a pattern here.

Firstrade also has a $1 million 'firm limit'. Which means that any position established for more than $1 million in credit will not be accepted.

I see. And is a floor broker detrimental in some way to a retail client?

I'm not sure how to check orders on the CBOE, Robert. I wasn't aware of that. Liquidity shouldn't be an issue, as I'm trading mostly ATM butterflies at the moment.

Thanks Robert. I realise that with ITM options the role of the market maker is particularly important. However in the case of one of my positions it is actually ATM. The butterfly spread I have open is the 18375/18400/18425 strikes. I opened this spread for a debit of 0.40 with one contract, so...

I read your answer in my previous post. No I did not ignore it. I'm struggling to understand how it is that no matter how many times I alter my limit price, my order on FT simply do not fill. There is more to it I'm sure. Especially since these positions are fluctuating in and out of profit.

I recently opened an account with Firstrade and began trading mostly option index spreads, for capital efficiency. I mostly aim for mid price on entry and exit, and while I have had a few NDX and SPX trades fills at mid price on entry, I have yet to be able to exit a single position using mid...

Fellow options traders. I have been trading options for some time now with mixed results. My current brokerage is Firstrade. I like to mostly trade around mid price for entry and exit, because it is simply cheaper. However with Firstrade I am finding it difficult to achieve fills at mid price...

Ok, I'll give you that one. At least you have a sense of humour haha

Well I'm afraid my strategies involve trading ITM options utilising spread trades. So clearly Tastytrade have been a let down for me with their unreasonable attitude. I wonder how many other people have had their accounts shut down with them. After reading online, quite a few apparently. Next...

For a company that promotes option trading as their flagship, don't you find it incredibly dumb?? As a previous poster mentioned, why not just block these trades if they are not permitted. Instead of sending a tantrum email. Not very professional. All options carry some risk, and assignment risk...

And indeed that was exactly my intention. So my fill on entry was 74.99, and on exit it was 73.35. So it's quite incredible that after precisely ONE profitable trade, Tastytrade cease to do business with me. Despite what others may say, I find that extremely suspicious. Ulterior motives springs...

Another self-proclaimed expert then, are we? Do you seriously think that just because you come in here with carefully constructed insult, that you think is so highly intelligent and makes you look smart (it doesn't) that you have some kind of authority in trading? Frankly, when I have a trade...