Is IB Order Cancel really slow?

A

ajax_g

A friend of mine trades with InteractiveBrokers.com. She is quite happy with it apart from the Cancel-order process.

Yesterday she tried to cancel 3 orders. It took several minutes to get the RED light-Order Cancelled. In one case she waited 11 minutes.

All those orders were for very liquid stocks. So said she.

Does anyone else have the same problem in general not only yesterday?
Is the IB CANCEL-order slow?

ajax
 
I read some posts from other persons and they talk about problems they have/had with their brokers/trading firms.

I don't understand why my question does not comply with the rules here.

I just wanted to know the opinion of other IB users about the Cancel-order process.

They can confirm it or deny it.

What kind of questions can we post here? How can we ask other people if they face the same problem as we?

Please give some guidance.

Thanks
 
the cancels are not slow. once an order is red it is cancelled. it remains on the screen for a little while after it is cancelled for info purposes.

the IB manual on the web site explains this.
 
No problems with cancels unless there are technical problems. Otherwise less than one second is the norm to ecns, a bit longer to the NYSE and options exchanges.

If I have an order not cancelling after 30 seconds, there's a problem and I call it in.
 
version77,

no they were normal LIMIT orders.

In one case it took 11 minutes to have the actual CANCEL, i.e. color change from MAGENTA to RED (which is the most critical part).

Can someone give some more info?

thanks
 
I wish I could give more info. I am about to start trading with
Ib when my check gets to IB and clears. They hold the checks
for 10 days. But I would assume that a limit order should
cancel within seconds. Eleven minutes sounds like a Datek
or E*Trade type of nightmare. I have never heard anyone
complain about a trade like this before about IB and I have
been reading almost all of the IB threads for quite awhile.

IB did have problem a few days ago where the whole system
went down for a good part of the day. From what I have read,
it doesn't happen very often. Maybe this was the day your
friend couldn't cancel her order the way it should of been
cancelled.

:(
 
Cancels work in milliseconds for me at IB unless NYSE or certain routes, then its seconds. I wouldn't worry about the problem being IB's. And Stops are working fine.
 
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