As much as it ticks me off to lose 10 ES points at the close due to IB downtime, I'd still rather save a guaranteed amount each day in commissions. I'm going the backup broker route to solve my problem (I've always had for stocks, why not futures with all the crazy leverage). IB is stable 99.9% of the time, it's that .01% that really stands out sometimes.
IB Downtime
- Thread starter Cdntrader
- Start date
To be honest, today IB really ticked me off big time. I was stuck in a position in NQ and could not exit. I was charged $30 to exit the trade over the phone. I was short so I probably made more than I would have, because I'm sure I would have exited sooner but thats not the point. The point is if this happens much more I'm just not going to trade with IB at all. I like IB's API, commissions, etc. but I don't like feeling hung out to dry, especially in this type of market.
I've never had these problems with my other broker and they are very accessible over the phone if need be.
I've never had these problems with my other broker and they are very accessible over the phone if need be.
Wait a sec. I thought the $30 charge didn't apply if you were placing an order due to technical problems.
Get that charge canceled if it shows up on your statement.
http://www.interactivebrokers.com/html/retailAccount/other_fees.html
*Telephone orders are only allowed for closing orders, and the stated fee is in addition to all regular commission fees. Fees will be waived in the case of IB technology problems.
Get that charge canceled if it shows up on your statement.
http://www.interactivebrokers.com/html/retailAccount/other_fees.html
*Telephone orders are only allowed for closing orders, and the stated fee is in addition to all regular commission fees. Fees will be waived in the case of IB technology problems.
Globex is having some problems lately, don't be too quick to blame only IB for it. Here's the latest update:
Globex Update
July 30 -- Updated Information
Globex system maintenance on July 27 appears to have stabilized the affected exchange interfaces. So far this week, we have not observed the problem described in the original notice (see below). We still recommend caution, however, during afternoon trading on high-volume days.
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July 25 -- Original Notice
Over the past several days, Globex has experienced a volume-related problem that affects the exchange's ability to process orders. We have observed that the problem generally occurs on high-volume days between 13:30 and 15:45 CT (Chicago time).
Problem Description
Our physical connection is not affected, and we are sending orders to Globex as usual. When the problem occurs, the exchange does not acknowledge or work them in a timely fashion. This results in orders being "stuck" in a Transmitting or TransmittingPC state. When this happens, Globex is not able to cancel the orders until they are acknowledged. In the case of MKT orders, it is not possible to cancel the order and fills may occur many minutes after the order is submitted.
Problem Mitigation
Globex has three types of electronic exchange interface, and this problem is affecting all users of one interface. The exchange is working to stabilize the affected interface and will be performing extensive maintenance on July 27.
In addition, we are working to complete development and certification on one of the unaffected interfaces as a permanent solution. This will not be complete, however, in the short term.
Recommendation
Until further notice, we strongly suggest that all traders use extreme caution when placing orders for Globex products during the times noted above (13:30 - 15:45 CT). Especially avoid MKT orders during this time if you would be adversely affected by a delay in order acceptance and filling.
Globex Update
July 30 -- Updated Information
Globex system maintenance on July 27 appears to have stabilized the affected exchange interfaces. So far this week, we have not observed the problem described in the original notice (see below). We still recommend caution, however, during afternoon trading on high-volume days.
--------------------------------------------------------------------------------
July 25 -- Original Notice
Over the past several days, Globex has experienced a volume-related problem that affects the exchange's ability to process orders. We have observed that the problem generally occurs on high-volume days between 13:30 and 15:45 CT (Chicago time).
Problem Description
Our physical connection is not affected, and we are sending orders to Globex as usual. When the problem occurs, the exchange does not acknowledge or work them in a timely fashion. This results in orders being "stuck" in a Transmitting or TransmittingPC state. When this happens, Globex is not able to cancel the orders until they are acknowledged. In the case of MKT orders, it is not possible to cancel the order and fills may occur many minutes after the order is submitted.
Problem Mitigation
Globex has three types of electronic exchange interface, and this problem is affecting all users of one interface. The exchange is working to stabilize the affected interface and will be performing extensive maintenance on July 27.
In addition, we are working to complete development and certification on one of the unaffected interfaces as a permanent solution. This will not be complete, however, in the short term.
Recommendation
Until further notice, we strongly suggest that all traders use extreme caution when placing orders for Globex products during the times noted above (13:30 - 15:45 CT). Especially avoid MKT orders during this time if you would be adversely affected by a delay in order acceptance and filling.
Anyone having connection problems this morning? I've been knocked off 3x. It reconnects right away but it's unnerving nevertheless.
