IB and Patsystems

Discussion in 'Trading' started by Redart11, Aug 21, 2001.

  1. Redart11


    Does IB have what is called Patsystems?I am waiting to
    hear back from IB.If so,does it work well?
  2. Turok


    Patsystems is a competitor to IB.

  3. Redart11


    I thought Patsystems was a trading system?How do they
    compete with IB?
  4. tntneo

    tntneo Moderator

    patsystem is the software. IB use its own software. Patsystem is available at several brokers.
    I have tried a simulated mode of patsystems. It seems complete. But you know what ? despite all the comments about IB's interface [not all justified imho] I like IB's direct approach better.

    However, I must say that I understand more IB's interface and ways since I trade almost only futures. IB does this well. I had more complaints when I was trading stocks. Anyway, there are many threads with pros and cons on the subject in this forum.

    if you want to trade futures I can't see how you would not love IB. if you trade NYSE I think you gonna like it too. If you trade Nasdaq, pros and cons are more balanced.
  5. Redart11


    I want to trade the e-minis.I need to be able to get in and out fast.I would rather concentrate on the charts,instead
    of filling out a trade order.Is IB as fast as Patsystem
    seems to be? thanks
  6. Turok


    >I thought Patsystems was a trading
    >system?How do they compete with IB?

    The same way Realtick competes with say, Cybertrader.

  7. tntneo

    tntneo Moderator

    I can't really compare since I used only IB. I can share my experience though.
    It is really fast. 1 or 2 seconds for fills. cancels very and order changes fast too. stop orders very good too.
    hotkeys make orders, size and price selection very fast.
  8. Turok


    >Is IB as fast as Patsystem
    >seems to be? thanks

    Don't know how fast Patsystems seem to be.

    I get my IB fills in an average of less than one second.

  9. tymjr


    I have access to and use both. Pat has a number of features that IB's platform does not. If your interests are strictly the ES or NQ, though, then IB will get the job done.
  10. RE: Fast fills at IB...

    That's incredible! Are you talking about listed securities here? If so, I really have to review my trading because over on the NYSE, I'm *not* getting fills anywhere that fast. Or are you talking about Island and the other ECN's?
    #10     Aug 21, 2001