IB direct order routing/Tradestation brokers

[nasduck]

Hi:

I've been studying trading using eSignal. Now I'm about ready to start, I've opened an Interactive Brokers Universal account. I'd like to route orders direct to an ECN, but eSignal won't do that. It only supports Smart order routing. That claims to get the best execution from whoever is offering it, but...

I read on another forum (for what it's worth) that order routing systems like Smart appear to sometimes route preferentially to a specific broker, or at least to inspect their quotes first, and for whatever reason, that appears to sometimes result in executions away from the best price. So:

1) Does anyone have experience of this?

2) If I use a different software platform like TradeStation (that supports direct order routing) with my IB account, can I be confident that the order won't still get automatically Smart routed (or possibly slightly delayed by the Smart order processing system) when it arrives at IB?

3) Opinions please, on Tradestation as brokers for NASDAQ Level 2 day trading (using their software).

Thanks!

 

[timaru69]

What makes you think that you cant route directly to ECN via using esignal/IB?

 

[nasduck]

Order routing choices just don't appear to be available on eSignal. There's no 'routing' dropdown list on the eSignal Trade window, I can't find that option in the custom order ticket designer either (or an option to toggle choice of routes), and when I gave up looking and asked Signal tech support, they confirmed (just yesterday) that it will only do Smart routing.

 

[Trader333]

If you use IB you can use an Excel spreadsheet to place orders via their API and route them where you wish. I played around with doing this a few years back and know that it was possible but I haven't checked recently.


Paul

 

[timaru69]

You can enter orders directly into TWS (IB platform) so they route to ARCA etc

 

[nasduck]

Thanks Paul - seems like a workaround may be too slow for what I want to do, and even then, I don't know whether it may be possible that IB's system will Smart route it anyway. I just waiting for their answer on that.

Any views or experience of Tradestation as direct access brokers please?