A few items to respond to: 1. The message 'OK thanks guys' was sent just before the next post and should have been posted before MRWSM's message, but he beat me to it... 2. MRSWM: I made a mistake in the post, "12:42 today" in first paragraph refers to 4/14. Well seen... I try to only use limit orders with Freetrade. They do work well, unfortunately they take a while to post to the "review order" screen. Indeed Freetrade is not for scalpers, quick in and out does not work when the feedback of the trades placed is somewhat lethargic. I'd say Freetrade is very good for swing trading. Though if you ever had to get out quick and you used a market order you would be asking for it, as per previous comments in this post. Also stop loss orders that turn to market orders are routinely filled 1 to 4 basis points further out than the stop. 3. Setharb. I would agree with your comment but indeed I have not yet wanted to open a futures account. With the proper discipline and keeping enough funds in the account relative to position size it could be ok. I would like expose myself to a direct access platform first. 4. Murray; I did refer the problem to Freetrade and I was surprised by their reply. Since I mentioned that this issue would be referred to the SEC they must have taken this seriously. I received back an email with detailed information about the next block trade and an adjustment on both trades mentioned in this post by 1 basis point. Their reply goes a long way towards my keeping the account open although I will not do the quick trading I was doing in this account. I will do this in a direct access account. Everybody thanks for the posts and replies.
OK but a stop limit may not let you out of the postion at all in a fast moving market. If the stop is hit and the market keeps dropping right past the stop price, the limit order created by the stop order will not be in a postion to be filled.