many old prior posts on this forum have bashed cyber and reported numerous software problems with them. Since i am thinking of switching from IB to cyber, i just wanted to make sure the cyber software bugs have all been worked out. Since i mostly scalp trade high volume Nasdaq stocks, the level II order routing is a must for me and IB's level II order routing ability is very limited... Past comments from this forum also mentioned cyber's smart automated ordering and cyberxchange was too slow for execution or did not execute at all. Is it better to route your order manually via Island, Arca, SOES rather than using their automated system? your comments please thank you.. larry
Sometimes the smart order routing will get hung up , not as much now as before mainly because of super soes. I used the Cyberx platform , with level II quotes enabled all you had to do was click the market maker or ecn and transmit your order. I was always happy with the execution speed I received at Cyber , it was the commission that made me open an account at Ib and Mb trading. In a fast market however I would suggest you route directly.
I personally just use redi. It defaults to soes/snet I think. It takes about 2 seconds max to sweep the book to where your limit is. I am not a fast stotock trader though. I find it to be best so far for cyber. I use island or redi to offer.
Cyberâs past is not really indicative of where they are today. The stability and resource issues that had plagued their software have been virtually eliminated. One of the more significant features of their software is true free-floating window breakout without parental constraint. ( For multi-monitor users.) An IB to Cyber comparison in regards to support and commissions is as follows: Cyber has direct and fast client support. IB does not. Depending on size and frequency of trades, Cyberâs commissions actually fall below the .01 cent/share level. As far as execution, consider assigning their hot keys to an X-Keys tactile switch interface and build your own joystick controller. After all, itâs just a video game, isn't it?