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Why can't you use myBroker as you are currently doing? myBroker is direct access. 
Skim
Thanks for the quick reply.
My understanding was that MyBroker (MB) was an 'ordinary' broker (though very good) and that a Direct Access broker filled you almost instantaneously.
When I trade with MB and buy just 200 shares in a liquid stock it can take a minute or two to get filled, in several tranches - eg 120 fill, 60 fill, balance 20 filled.
I assume (wrongly?) that an order for five times thst amount would get filled immediately in most cases, and that is why daytraders have to use Direct Access.
Am I misunderstanding Direct Access?
Darren
Thanks for the quick reply.
My understanding was that MyBroker (MB) was an 'ordinary' broker (though very good) and that a Direct Access broker filled you almost instantaneously.
When I trade with MB and buy just 200 shares in a liquid stock it can take a minute or two to get filled, in several tranches - eg 120 fill, 60 fill, balance 20 filled.
I assume (wrongly?) that an order for five times thst amount would get filled immediately in most cases, and that is why daytraders have to use Direct Access.
Am I misunderstanding Direct Access?
Darren
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Not sure - I don't as a rule trade US stocks, so I'm not au fait with the fill times, although it will of course depend on which stock you're trading. Even with direct access, not everything gets filled immediately. I watched Alan Farley trade using direct access, and he was filled in batches too.
Perhaps one of the clever guys will know more.
I had a root around a year ago to find day trading possibilities of US stocks in an ISA wrapper, and the best I could come up with at that time was myBroker.
Perhaps one of the clever guys will know more.
I had a root around a year ago to find day trading possibilities of US stocks in an ISA wrapper, and the best I could come up with at that time was myBroker.
talkpanerai
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Hi,
I am very new to this Forum. I want to know if there are any Direct Access Trading Brokers in U.K trading FTSE on Level 11.
Regards.
I am very new to this Forum. I want to know if there are any Direct Access Trading Brokers in U.K trading FTSE on Level 11.
Regards.
try www.etrade.co.uk to trade direct access CFD's
competitive rates
competitive rates
CityTrader
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GNI whose Touch is then rebranded through a few other member firms ( such as First Equity, etc, etc) or IG's L2 system ( not their Internet dealing system)
Don't look for the cheapest deal, remember, you get what you pay for....
Don't look for the cheapest deal, remember, you get what you pay for....
talkpanerai said:
Scripophilist
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mybroker is direct access the reason it is taking time to get filled is that you are placing your order at a limit price on the order book so you have to wait for it to be filled.
CityTrader
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Skimbleshanks said:
Not sure I qualify as one of the clever guys, but I possibly know more about direct access and UK stocks. The reason your fill may not be instantaneous is that your order may be bigger than the size showing on the book - i.e even though a stock is showing (say) 123.5-124 there may only be 115 shares on the offer, so if you come in to pay 124 for 2,000 you would get an immediate fill in 115, and barring any hidden or tranche orders, the price showing would now be 124 bid for 1885 - i.e the balance of your order. If you have Level 2 access you'll be able to see the depth of the market
Wayno
p.s who is Alan Farley???
