Interactive Brokers Execution & General Feedback

L

Lazyj

Hello,

I'm thinking about transferring my day trading account to Interactive Brokers but I have heard mixed feedback regarding the execution on trades. Mainly breakout type trades.

I know a lot of factors may be involved in the types of fills you get such as your size. I dont trade big size as I'm still fairly new that is why I'm thinking about switching to the IB per share tier pricing. But can anyone that has experience with Interactive Brokers let me know if you had/have any issues with getting good fills on breakout type patterns. Do you get filled? Are the fills way over your bid compared to other companies. How is the speed of their platform?

Any other feedback on their platform and the company would be appreciated as well.

Thanks
 
You didn't mention the products that you trade.

I am not sure about bad fills at IBKR. They have very good price improvement statistics.

So far, most fills are way over my bid with every broker I have been.

The platform has a very clunky UI. But, I have seen some really very nifty and very pro customizations by knowledgable traders who learned to become proficient. No other platform can be molded to so many styles of trading......a field of gopher holes for the newbie.
 
Thanks for the feedback d08. I know getting filled at bid is hard but I'm more concerned if the fills at IB were "any worse" compared to any other brokers out there. For example, if anyone had used IB and a different broker in the past and noticed the fills were "worse" in terms of fills or not getting filled when using a stop limit at IB.

I was told by some head traders at a trading room to not switch because the execution was really slow and getting good fills were extremely hard at IB on breakout trades. But then talked to a couple of regular traders in rooms and they mentioned they were okay with IB's execution. So just want to get more people opinions on it.

thanks

d08 said:
Close to impossible getting filled at bid during a breakout. Best experience has been routing to IEX.
More...
 
Perhaps before it was worse, I'm pretty satisfied with the fills, you will get bad fills on breakouts but not because of IB - the market often jumps so fast nowadays that it skips cents even on tight spread, very liquid instruments.
 
d08 said:
Close to impossible getting filled at bid during a breakout. Best experience has been routing to IEX.
More...

What kind of stocks in terms of daily volume are you trading on IEX? What type of orders are you using? I've long wanted to test fills there.
 
STP/MKT. I'm currently running a comparison vs SMART and it's consistently coming out on top, even when taking the higher commis. into account.
Not stocks, high liq ETFs.
 
d08 said:
STP/MKT. I'm currently running a comparison vs SMART and it's consistently coming out on top, even when taking the higher commis. into account.
Not stocks, high liq ETFs.
More...

Gotcha, thanks. I suspected that would be the case, although I'm not as sure when it comes to less liquid stocks. Are your stop orders triggering reliably? That's prevented me from testing on IEX - orders routed there wouldn't trigger some fraction of the time and after a lot of back and forth with IB it never got resolved.
 
d08 said:
Close to impossible getting filled at bid during a breakout. Best experience has been routing to IEX.
More...
why should you get filled on a breakout if the quote is moving away from you?
 
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