My orders do in fact get added to market, as I can watch them get added to the currently existing liquidity in the DOM. They just stop filling after a certain point. I would think it’s just the stock, but the fact that other accounts can still trade it normally is what’s raising the red flag. I’m still trying to register with the SEC which is a pain in the ass, but if I still have this issue afterwards idk how I would handle it. Would calling my broker do any good?
Can a broker intentionally not fill your orders?
- Thread starter bmoney
- Start date
Yes calling your broker will help. If you see your orders being added to the level 2 then the problem likely lies with the market maker. Someone earlier said Tradestation routes most orders to Virtu. Virtu is known for providing bad fills. Often times what they are displaying on the level 2 is what you get, no hidden liquidity. Are the orders you’re entering market or limit orders? Are you trading equities or ETFs? Are you looking at the level 2 specifically for Virtu to make sure there are shares on the bid/ask within your limit price?
They are likely rejecting your orders due to a lack of liquidity. Your trades may be too large and will move the market. If your trades are >2% of the average daily volume of the underlying and you are entering market orders, try switching your orders to limit orders with a conservative limit price at or above the ask. If you’re trading equities, usually your broker will be able to either sweep the dark pools for dark liquidity or setup an algorithm such as VWAP, TWAP, or percentage of volume to chunk into the position over time. Not ideal for scalping. If it’s an etf then your broker would need to contact the market maker who can utilize the creation/redemption process to execute trades without moving the market. Sometimes switching brokers will help. TD Ameritrade is usually pretty good for the active trader.
I am manual. My account value isn’t yet high enough to automate it and have maximum returns, as my manual trading allows me to break rules and make more money as I can recognize certain nuances
I trade equities with limit orders. The liquidity on the dom is rather high on it, but I haven’t checked with virtu level 2. I was unaware I could do that. My volume on it is rather high, however. I have used TD in the past and switched cause their order execution with slow, cause of their poor access to HTB stocks, and cause the price ladder wasn’t as good. Is there any other brokers that would work?
What’s an example of a trade that did not execute? Ticker symbol and quantity
No, according to tradestation. I had asked them that question and I was told that my account would be the same
It’s stupid i know because there were days of 1500 to 2000 round trips when I was in my twenties. Dropping to 50 or less is the most profitable for me.
Yes you should definitely confront your broker. If you see orders in other accounts are getting filled except this one account, then this is definitely an issue that you need to bring it up to your broker. They can't just pick and choose which accounts to execute orders and which ones they ignore. That's against their fiduciary duties and security laws. If all of the orders meet the NBBO and all requirements then they should all get filled.