Best brokerages for active algorithmic trading

kroxobor said:
What's average speed of orders execution with your brokers? Any FX brokers which offer execution of CFDs within 100 ms? Most brokers I checked execute orders within 350-1200 ms bad which is too slow..
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Not as fast as I would like. I buy Google Cloud and AWS servers to be as close to their servers as possible and it makes a big difference. I still miss many opportunities and working with a broker colocated in Equinix would be a big help.
 
TrailerParkTed said:
I don’t think anyone will provide you less than 4 or 5 mills? Wish you the best, my goal is reducing volume because I can’t keep up with smart HFTs like you!
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Honestly, I would be happy with 8-10 mils at this point. If I keep growing I plan to register as a broker dealer. I've talked to Wedbush and they can offer 2-3 mils for clearing only which would be incredible. Its also nice to have less middlemen that might try to reverse engineer your strategy. Its a big investment though and I'm not ready at this time, but looking forward to that day if it ever comes.
 
Tradestation, Ameritrade, only taking liquidity.

Are you sure your strategy doesn't depend on commission free trades? I don't think you can get commission free with algo focused brokers?
 
Alpaca is a great place to start, but its poorly suited for my needs. When I tried it before they sold all their orders to Wolverine. Of every execution venue I've ever sent orders to, Wolverine was the worst. When taking liquidity I have hundreds of trades where the price was filled outside the NBBO even when the market didn't change for 10 seconds after the trade. I also only received fills on my limit orders when the price moved against me, on literally thousands of trades. However, alpaca has since started sending orders to Citadel. Not exactly a prime execution venue but quite better than Wolverine. I was told by a sales rep that they would allow you to route your own orders, but after creating an account with them I found out this is still in the works and cannot be done at this time.

So alpaca does meet all of my other criteria, but the order routing and execution quality are not workable for me.
 
algorithmic_rhythms said:
Of every execution venue I've ever sent orders to, Wolverine was the worst. When taking liquidity I have hundreds of trades where the price was filled outside the NBBO even when the market didn't change for 10 seconds after the trade.
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Were you taking more shares than were on NBBO? Otherwise that sounds blatantly illegal. Report them to FINRA with your records.
 
algorithmic_rhythms said:
Alpaca is a great place to start, but its poorly suited for my needs. When I tried it before they sold all their orders to Wolverine. Of every execution venue I've ever sent orders to, Wolverine was the worst. When taking liquidity I have hundreds of trades where the price was filled outside the NBBO even when the market didn't change for 10 seconds after the trade. I also only received fills on my limit orders when the price moved against me, on literally thousands of trades. However, alpaca has since started sending orders to Citadel. Not exactly a prime execution venue but quite better than Wolverine. I was told by a sales rep that they would allow you to route your own orders, but after creating an account with them I found out this is still in the works and cannot be done at this time.

So alpaca does meet all of my other criteria, but the order routing and execution quality are not workable for me.
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And what are the other criteria?
 
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