IB fails to execute marketable orders

C

ccooper

I sat in front of TWS for >45 minutes after trading opened on Sunday, watching my very marketable order to close a position unable to execute. Initially I had a limit order to buy which was about 12 pips *above* the market, and it would not execute. I tried putting in a market order, but that didn't help. I watched for the next 45 minutes as the market traded up to and through my limit price, still no execution. Finally, for some obscure reason, the trade executed at my limit price when the quoted ask was 2-3 pips below my limit price.

I'm also trying to close a position in another pair. For the last 30 minutes the market has been below my bid, and it still won't execute. IB tech support is unable on Sunday until 6:30, so no help there. As I watch at this moment, the orders, for some unknown reason, are finally executing.

Very frustrating, and very expensive.
 
Quote from ccooper:

GLOBEX doesn't have the pairs or the liquidity that I require.
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With all due respect...doesn't seem like IB has the liquidity either. Nothing worse then watching a winning trade turn into an ugly loser.
 
Quote from mschey:

With all due respect...doesn't seem like IB has the liquidity either. Nothing worse then watching a winning trade turn into an ugly loser.
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True, and a good point. It's off to Currenex for me, as soon as possible.
 
Quote from Trader KGB:

Currenex serves the retail market?
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No, they don't. IB's spreads were just about as good as Currenex, at least in the pairs that I trade most frequently, so I have stayed with them even as my size increased. But what good are decent spreads if you can't get executed?
 
Globex has more than sufficient liquidity to trade. With Globex, when you get a quote, you get a fill, immediately. With cash, even if you get filled, you might not get a report for a while. Why bother with that hassle?
 
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