IB Market Order and MidPrice Order Fills Are BAD

I have never prtended to be a professionel, and have never worked with finance. I have read a couple og books, and have a half YouTube MBA full of holes as a Swiss Cheese
 
I'm using IBKR API and have no issue (at least for now) with the speed. What I care about most is the fill quality. I'm hoping to see whether IB Algo orders can help. Or have to resort to other venues for such. Just to emphasize, API user with goal of fill quality within a reasonable time period such as 5 second to 30 seconds (?). I just want to have fill quality comparable with TD if I continue to stay in IB (net of commission fees).

I thought that's not too much to ask for IB, considering it's catering to 'traders'
 
It does not solve your problem with IB, but maybe it can help

*USB operates its own ATS, which had a 15,7 percent market share in May, according to Bloomberg Intelligence it is the largest dark pool, with a market share 3 percent higher than its main competitor Sigma X2, run by Goldman Sach*

I have seen that some Prop Firms offer retail traders to interduce them to their Bank/Broker.
I think Bright Trading can interduce you to Goldman. Bright use REDI and REALTICK.
Some other Prop Firms offers similar relations for Portfolio Margin Accounts *It is your own account so no split*.
 
An other Prop Firm that offers a Retail Portfolio Margin Account is AVATAR SECURITIES LLC.
They clear though Bank of America, ICBC and Wedbush and offer a varity of order routes

I hope you will get some help from IB
 
For example AVTAR SECURITIES web mentions some routes like Credit Swiss. I know that Crossfinder and Credit Swiss is dead now, but it was one of the biggest. So, mybee it has been replaced with something good
 
So Crossfinder or CSFB is no longer supported by IB API (algo)? It's still listed on their API doc, along with Jefferies. Are those gone also? Hard to believe such a bad documentation
 
Alaric Securities said:
Indeed, IB is a java platform. A "screen" trader surely needs faster OE system, preferably with very flexible hot keys. When you link those HotKeys to a number of routes, or even better - to SMART routes, your chances of better execution improve drastically.
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With hotkey set up and a suite of algo tools, you "surely" do not need a faster OE system. My background is from the market making side and speed and reliability to entry is not an issue when entering orders manually. Human reaction time is 200-250ms and our order entry is no impediment to execution quality. Your other statements are also way off as the "ultra professionals" as you call them will not only use CTCI but also take in to consideration firms that are well capitalized, financially strong, pay institutional interest rates, have large stock books, etc.

The mid-point match is not a marketable order so depending on what you are trading, along with size, speed/quality of execution will vary. Since it aims to match orders mid-market and thus do not expect immediate executions. Others mentioned you can use the 3rd party algos or work with the various variants of IBSMART(speed, price, cost, etc) or if passive resting orders, you can try IBDARK which continues to grow (over 200 million shares in Dec) with mark outs (price difference in time of the trade and NBBO are very favorable: 1, 10, 30, 60, 300, 600 seconds with respective mark outs in bps of .871, .684, .704, .796, 1.119, 1.458).
 
largib said:
I'm using IBKR API and have no issue (at least for now) with the speed. What I care about most is the fill quality. I'm hoping to see whether IB Algo orders can help. Or have to resort to other venues for such. Just to emphasize, API user with goal of fill quality within a reasonable time period such as 5 second to 30 seconds (?). I just want to have fill quality comparable with TD if I continue to stay in IB (net of commission fees).

I thought that's not too much to ask for IB, considering it's catering to 'traders'
More...

try using ib gateway
 
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