Direct access broker with GTC stops

Discussion in 'Retail Brokers' started by bhds, Jun 28, 2005.

  1. bhds

    bhds

    Any direct access brokers that have trailing/protective stops that are GTC? Other than intraday only.
    I was with datek/ameritrade for the last 6 years. Opened an account with MBT because of the lower fees and all the different order types. Did not realize that all the protective/trailing stops are only good for the day. Have to call in order to carry overnight?
    Is that standard with all the direct access brokers?
     
  2. Steve_IB

    Steve_IB Interactive Brokers

  3. bhds

    bhds

    Thanks Steve. I'm researching it.
     
  4. Bowgett

    Bowgett

    Check Fidelity. I moved from Datek/Ameritrade to them.
     
  5. MBT-Steve

    MBT-Steve ET Sponsor

    BHDS,

    Good news for you. We have GTC orders now but they are in beta. We have been testing for a little while and I expect them to go into production in the very near future. Please feel free to msg me if you have any questions.

    Regards,

    Steve
     
  6. Who doesn't? If your on a direct access system you should have the ability to place stop GTC orders. Mine does!
     
  7. OptionsXpress has GTC that is good until canceled and not some arbitrary number of bewitching days.

    They also have varieties of stops, trailing stops, contigent orders, OCO, etc.

    A contingent order is an option order triggered by price action of the underlying. One can specify a range of trading hours, bid ask last (not good idea) but not option price as a market order is created when triggered. This is a GTC, or until option expiration, order.
     
  8. MR.NBBO

    MR.NBBO

    QUOTE]Quote from MBT-Steve:

    BHDS,

    Good news for you. We have GTC orders now but they are in beta. We have been testing for a little while and I expect them to go into production in the very near future. Please feel free to msg me if you have any questions.

    Regards,

    Steve
    [/QUOTE]

    GTC Is a most basic order type, THIS IS ANOTHER REASON why MB has lost my business. You've been advertising "GTC coming soon" for a year. Get it done. I like MB, but get moving.

    MB is Very slow to institute change....and GTC isn't the only thing.
    Name a broker that doesn't offer GTC.

    Don't mean to harp, Steve, but now is your chance to go after IB, as they are DEFINATELY falling in quality across all aspects. You'll really have to step up to the plate to do it, though.
     
  9. zdreg

    zdreg



    GTC Is a most basic order type, THIS IS ANOTHER REASON why MB has lost my business. You've been advertising "GTC coming soon" for a year. Get it done. I like MB, but get moving.

    MB is Very slow to institute change....and GTC isn't the only thing.
    Name a broker that doesn't offer GTC.

    Don't mean to harp, Steve, but now is your chance to go after IB, as they are DEFINATELY falling in quality across all aspects. You'll really have to step up to the plate to do it, though.
    [/QUOTE]




    thx

    my favorite is ameritrade which doesn't
    offer opening only orders. that way they can get payment for order flow.
     
    #10     Jul 6, 2005