I have a newbie question regarding how basket order is handled. Let's say you use a basket order to submit 1000 limit orders on 1000 equity symbols before the market open, but your available fund only allows say 30 or 40 open positions. Will the broker deduct your buying power based on order submitted?? In this case the entire basket order would be rejected. Or will the broker deduct your BP only after your order is actually executed? In this case the first 30 or 40 orders will be executed and the excessive orders will be rejected after the BP is maxed out. Is there a standard way to handle basket orders? Or is this broker dependent? If it's broker dependent, can someone comment on how each broker(IB, Genesis, Sterling..) handles basket orders?