Very well done, Interactive Brokers !

[dont]

Had problems earlier, but it was my internet connection not IB. Have to admit considering the market they have done well.

 

[osorico]

Ummm... assuming IB did everything YOU pay them to do, with no hitches, why is that reason to applaud, give accolades, or even start this thread?

3 cheers for doing what you are paid to do! Hip hip hooray for mediocrity!

Osorico

 

[local_crusher]

I read here now about the stop orders issue. Ok on that.

I use only limit and marketable limit orders transmitted via API.

 

[JackR]

Quote from osorico:
Ummm... assuming IB did everything YOU pay them to do, with no hitches, why is that reason to applaud, give accolades, or even start this thread?Osorico

Did you read and understand the original post? It said:
Everybody can complain, but nobody seems to give credit, where it is due:...

If I were to use your logic I'd never praise any broker because I pay them all.

Jack

 

[shortie]

Quote from JackR:

IB simulates both those for Island. See:
http://individuals.interactivebroke...php?exch=island&showcategories=&ib_entity=llc
Then click on the heavy black bar labeled "Order Types".

Jack

thank you, Jack!

I looked at other major exchanges: GTT and Conditional orders are always simulated by IB. So, basically, it is not 100% safe to place GTT orders and assume that they always expire as set because IB can lose connection.

what i don't understand is why the exchange does not cancel all orders submitted by IB once the connection to IB is lost?

 

[fbell50]

I'm a happy with IB, but TWS failed to send me about a dozen quantity change acknowledgements through out the day. I could see them reflected in TWS, but never received the open order and order status events via the API.

Has anyone else ever had a similar experience?

 

[aPismoClam]

Quote from local_crusher:

Everybody can complain, but nobody seems to give credit, where it is due:

IB was (is) rock solid for me during the recent market turmoil.

Both market data and trading did not suffer from complications, except one or two "could not value contract at this time", which I know well from past years.

I see the situation has much improved, compared to past volume spikes.

IB apparently has their marketing angle covered by employing shills to beat their tom-toms on trading message boards.

From the moment I first encountered those morons years ago until this very day I still say they're a whorehouse.

I tooled up a market-making application on their API last year and watched how some bot internally screwed with my markets (the quotes weren't shown to the public, as it was a "Trading Olympiad") in order to force unwanted fills.

Not only are they paper thin and as frail as a potato chip, they're two-bit hustlers as well.

 

[Gringinho]

I agree with the original poster - IB is very solid during volatile markets.

 

[Robert Weinstein]

maybe you could call me cheap (I am) but I trade with IB for the commissions. I just havnt found a way to even come close with anyone else.

I also use TS for charting and scanning and I have had one problem after another for the last couple of weeks with "loading".

IB has worked out well. their PnL sucks ass on TWS but I am willing to deal with that when my costs are hundreds of dollars less per month.

 

[JackR]

Quote from shortie:
why the exchange does not cancel all orders submitted by IB once the connection to IB is lost?

Almost all the standing orders (native to the exchange) are supposed to get you in or out at or near a limit. They will trigger when IB is down. If they are there to get you flat they are exposure limiting orders.

Consider automatic cancellation on comm failure:
1) Connection lost for how long before cancellation?
2) Does IB notify customer when this happens?
3) Does the exchange advise IB of the status of the orders when comm returns?
4) Does IB automatically reinstate order when connection returns if there was a cancellation?
5) If cancellation is automatic on comm failure should IB place the order elsewhere?
6) What if the failure is one way (IB to exchange or exchange to IB)

You can see there are pros and cons and further questions with any answer.

I for one would like to know that in the event of a failure at IB or a comm failure my exchange native resting order will go off. Win or lose I know where I am or will be.

Jack