Are there brokers that do not apply price caps?

[Maverick2608]

When a stock moves a lot quickly, Interactive Brokers' price caps prohibit me from trading.

But since the stock continues to trade, somebody are allowed to trade.

Are there brokers that do not apply price caps?

 

[Robert Morse]

Can you provide a simple example? Are you trying to buy or sell stock with a limit more than 10% through last sale?

 

[Fain]

When a stock moves a lot quickly, Interactive Brokers' price caps prohibit me from trading.

But since the stock continues to trade, somebody are allowed to trade.

Are there brokers that do not apply price caps?

every broker has to have some pre-trade control measures in place to stop shitty executions. Some differ in how they achieve compliance

 

[TrailerParkTed]

Can you provide a simple example? Are you trying to buy or sell stock with a limit more than 10% through last sale?

On some razor floats like the Hong Kong IPOs they can have the bid and ask exceeding 10% during high volatility. If you bought at $17 and a short attack or sellers come, the bid can be $14x$17. Market orders are good if you want out, limits can cost a second a trader can’t afford. The same goes for chasing a stock up like the old HKD.

 

[poopy]

When a stock moves a lot quickly, Interactive Brokers' price caps prohibit me from trading.

But since the stock continues to trade, somebody are allowed to trade.

Are there brokers that do not apply price caps?

Do you mean to prevent fat finger? % off last trade or % beyond NBBO?

 

[getthatintoya]

Do you mean to prevent fat finger? % off last trade or % beyond NBBO?

Neither, happened to me on Monday with xjo options. Theoretical mid price would be 19 pts so I put an order in to buy at 18 and they kicked me backed down to 16 capped. MM was not on screen and I was trying to close a way otm call option. No trades for that day had happened.
F**kers won't let retail trade any type of options in the first half hour after market opens as well on any day.
Any of you successful gurus want a challenge come trade in the land of OZ were everyday you go into the ring with one hand tied behind your back.

 

[qlai]

Retail brokers must implement these caps, so no for you. But a prop firm which is also a broker, for example, can implement whatever rules their compliance department is willing to live with. That’s why you can see trades going through.