IB liquidity providers will screw you

K

Kicking

they execute marketable limit orders when it is convenient for them, you would think it's electronic execution a la CME but NO I guess quotes are not always executable, they turn off auto execution, and execute your order when the market is coming back against you in a flash. No better than FXCM especially when you consider how stops are triggered. I think I am done with them, sorry IB, I will look at OANDA for FX
 
Quote from Kicking:

they execute marketable limit orders when it is convenient for them, you would think it's electronic execution a la CME but NO I guess quotes are not always executable, they turn off auto execution, and execute your order when the market is coming back against you in a flash. No better than FXCM especially when you consider how stops are triggered. I think I am done with them, sorry IB, I will look at OANDA for FX
More...

Sorry but that's complete hogwash. What you see on the screen is what you get. it is completely electronic. We've got three of the largest banks making markets and they honor their quotes. It's possible that you sent an order and they were updating their markets the instant your order was sent. if in doubt, send a request to CS and ask them to look at their audit trails. if in the remote and extremely unlikely chance what you state is true, I do not think we'd allow them to participate on our platform.

We've put a great deal of effort into this product and are confident that product is going to be amongst the best available to the retail and professional trader.
 
this is not hogwash . so far I had not had any real problem either ( the way stop trigger is a problem) but execution on LMT and MKT orders had been great, same as on the CME , that's why it's misleading becauise apparently it's not fully automatic. I sent a marketable limit order on an econ. news release and saw my order going green , it was still marketable for a few seconds as the futures popped up. The market went up 15 pips and through my limit with no execution, a few seconds later the market retraced and that's when my order was executed INSTANTLY this time. This trade would have been a loser anyway although I would probably have been able to exit at a better price had i received a fill on the way up but I am really pissed off by the way my order was executed. The bottom line is that you cannot trust these MM's, one day this kind of sh*t will really hurt
and please don't post here to tell me not to trade econ. numbers
 
Thanks.

So if say Euro dollar is 50/53 just before a figure is announced and you want to trade the figure is this strategy sensible......

Have a sell limit order ready at 42 and a buy limit at 60. If you want to go short when the figure is announced you hit the sell at 42 order and you will be filled between 42 and 50 if you are quick enough to trade before it goes through 42? If you are too slow then nothing will be done? If you hit sell at 42 when it is still 50 bid then you are filled at 50?

Sorry if this sounds thick but not used IB for fx before.
 
Ok I've seen that happen but when I looked at the tick trail left in button trader it was clear in my particular case (maybe not yours) that the quotes had been moved/cancelled in multi pip leaps - basically what bank dealers do in a fast market. In fairness the quotes are generally very stable and I am much happier using a market order than I would be in the futures.

WRT to getting filled at the limit this happens a lot in e.g. HSI and after looking closely at what went down in T&S and Marketdelta in the cases I looked at it was due to me being last in the que with the fill at the limit being caused by the market pulling back.

Not saying you are making it up or not having a genuine problem its just that I have felt there was something wrong in the same way, but when I have checked this particular issue it has proved to be the market rather than IB. Not the same for other issues.
 
You must log in or register to reply here.
Back
Top