Are IB losing the plot?

This is a discussion on Are IB losing the plot? within the Brokerages forums, part of the Commercial category; BBB, Fair point about your friends. I believe that things have improved since then but I know that history, however ...

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Old Feb 14, 2004, 10:55pm   #16
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BBB,

Fair point about your friends. I believe that things have improved since then but I know that history, however far back, does affect decision making. For example, I wont consider buying a Ford car based on bad experiences I had as far back as1988.

I can only speak for how I have found things but if things went wrong then I would also say so as I have recently done with regard to my current level II data supplier.



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Old Feb 14, 2004, 11:05pm   #17
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Do you know of any other brokers that provide accounts in different currencies? The only ones I know are futures brokers, not NASDAQ brokers.
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Old Feb 14, 2004, 11:11pm   #18
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Unfortunately not for the Nasdaq which is what I trade.


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Old Feb 15, 2004, 9:50am   #19
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Paul, one of the reasons you rate IB is the ability to hold your trading capital in GBP with them.

I guess if you're not going to hedge a USD currency holding this makes a lot of sense. But that option aside, how specifically does the GBP a/c work with IB?

Does the currency conversion get applied at each open/close of a trade - i.e. dynamically, at the time of the trade?
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Old Feb 15, 2004, 12:17pm   #20
 
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Bramble:
The gbp balance is held intact as the margin for a dollar trade, and will show the same after a round turn. The profit or loss from that trade is recorded and held in usd's; until you choose to convert it back to gbp at their own reasonable conversion rates.

Obviously your usd balance is added to your available margin. Same is true for transactions in other currencies, e.g. trading the estx50 will result in a euro balance as well.

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Old Feb 15, 2004, 1:00pm   #21
 
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JonnyT started this thread I had a fill this month that I couldn't find on the Globex time and Sales record that was 17 points slippage. I since tightened my Stop Limit orders to make absolutely sure I cannot recieve such a bad fill for an exit.

Luckilly the trade was still a good one.

I haven't complained after trying for a month to get IB to accept liability for cancelling a order and not replacing it when I sent a modified order. This happened twice in one week with TWS 815.3 and has not happened since I downgraded.

They just kept telling me that there standard terms and conditions say they have no liability for anything...

I've thought about the FSA but I have no viable alternative for the way I trade via API.

So I guess for now I have to accept them for warts and all and code my apps to avoid any shananigans.

Is it true Tradestation can only trade on the close of a bar? when I want to use stop limits?

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Old Feb 15, 2004, 2:35pm   #22
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JonnyT,

Quote:
Is it true Tradestation can only trade on the close of a bar? when I want to use stop limits?
Yes that is my understanding of how TS works but it may have changed since.

Also it may be worth speaking to BBB about the issue you have with IB and the orders you placed as he was discussing a similar issue which I understand was resolved (eventually).


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Old Feb 15, 2004, 6:43pm   #23
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What does OTC stocks stand for?????

i've changed the default now to 'LAST' & will NOT try it out on Tuesday, but if i'm unfortunate & the stop gets hit then hopefully it should trigger.

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Old Feb 15, 2004, 7:05pm   #24
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over The Counter
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Old Feb 15, 2004, 7:54pm   #25
 
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tonie - remember to save the settings as well. And there is also the option of having your stop working outside of regular market hours.
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Old Feb 15, 2004, 10:07pm   #26
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JonnyT -

Was that a spread you were trading?

To my knowledge, this is the only way a broker can legitimately fill you at a price that wasn't printed.

e.g. You are spreading A v B, and looking for a a spread of 50. The broker fills you at 120 for A leg and 70 for B. You realise B never traded at 70. Doesn't matter - as long as you have the spread of 50 their back is covered - but would you care, as your interested in the spread value, not the legs.

If it's not a spread trade then you have a ligit' issue.
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Old Feb 15, 2004, 11:18pm   #27
 
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JonnyT started this thread I wasn't trading a spread...

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Old Feb 20, 2004, 4:52pm   #28
 
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EUR/USD, I've been robbed
I just nicked 21 points on the break down thru 1.26 when my very close stop was triggered. Nice
I tried to re-enter with a sell Stoplimit at 1.2660 when it was 1.2658/9. Market went above 1.2660 but IB didn't fill the order. Nothing happened. No error. No message. It just faded away. Nothing in Pending, Executions ....nothing.
What's all that about?
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Old Feb 20, 2004, 9:29pm   #29
 
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JonnyT started this thread Was the status green on TWS? Thats means native on Globex.

If not the order was lost.

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Old Feb 20, 2004, 9:53pm   #30
 
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Not with you there. Can you explain?
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