IB executions speeds - what's yours for LMT vs MKT?

Discussion in 'Order Execution' started by KCalhoun, Nov 15, 2008.

  1. KCalhoun


    Hi -

    I just opened up another live account w/IB and am finding that order execution speeds via smart LMT orders are taking 15-20 seconds to confirm fills, on average (which is far too slow for daytrading), using TWS. Even 100-share MKT orders for liquid stocks have taken at least 10-15 seconds per fill.

    I'd used cyber for years, til schwab bought them, and am accustomed to getting confirmations/fills within 2-4 seconds max (on smart/isld fills).

    Even trading in my fidelity sep using browser based limit orders I get trade confirmations always within 5 seconds max.

    So maybe I'm doing something wrong -- what's your experience using IB for execution/fill speeds? 15-20+ seconds is too much of a delay, for confirmations for pro daytrading. Particularly if I want to scale up. Kind of reminds me of when I was trading w/datek in the late 90s; we had to wait 60 seconds for fills.

    Any suggestions? In talking w/IB they asked if they were lmt vs mkt orders, but even for mkt orders on liquid stocks it's taking at least 15 seconds to fill. I'm probably missing something, as I know that no trading firm would take 15+ seconds for direct access fills on liquid market orders. It's fine for swing trading, but if I want to do more direct-access trading with 1-5K size for scalps, I need fills within 5 seconds of course.

    I'd like to use IB for daytrading, but not if I have to wait 15+ seconds per side for trade confirmations/fills. Any tips?


  2. No way.
    I use LMT and MKT orders through
    TWS/smart and 5 sec. is MAX fill time.
    Usually 2 - 4 secs. is more like it.
    I'd say check your system/connection.
  3. In trading futures on TSE and SGX it's impossible to tell the exact time as it's less than 1 second. My best guess would be 0.2 to 0.5 seconds.
  4. Klamath


    Most of the time I get the first confirmation in in less than a half a second in my live IB account. My IB simulator account takes maybe 10 seconds most of the time.
  5. virtually instant...check your bandwidth and speed.
  6. moo


    15 sec fills are bullshit. Almost always the fill time is less 1 sec.
  7. On a market order, I blink and the order is filled. Limit orders sometimes get executed about 1/2 second before my display shows the price has been reached.
  8. Is there anyone not using the browser based version of TWS that I.B recommends. Im assuming since they recommend it that its the faster option but that may account for the differences. Just a thought.
  9. BullTrade


    IBDirect Or IB? IBDirects Razortrader is by far the best free trading software I have used. Havent tried IB
  10. .5 seconds is WAY WAY WAY too long.

    you guys are getting fucked.
    #10     Nov 20, 2008