IB now forcing traders to cross spread in OTCBB stocks

Discussion in 'Interactive Brokers' started by Shadetree42, Oct 5, 2017.

  1. typical ET

    ask a question, get crickets.
     
    #51     Nov 6, 2017
  2. truetype

    truetype

    Maybe because your "question" was a request for someone else to do your homework.
     
    #52     Nov 6, 2017
  3. Daal

    Daal

    I have noticed that IB's OTC order execution has changed materially in the last few weeks. When I route orders in stocks like GBTC, IB will use ArcaEdge instead of NITE like they used to. Furthermore they will implement almost no price limits or rerouting, as a result, you can get filled at some pretty ridiculous prices if you use an aggresively priced limit order or a market order. I have gotten screwed quite a few times so far. I'm used to using aggresively priced limit orders and that agression can come in handy because you dont have to keep updating the price in the order form. Except now you actually get filled at those prices, like 50% of the time. So if I stock is at .29 (.2890 bid .2950 offered), if you send an order for .32, you might actually get filled at .32!
    This happened to me yesterday

    Be very careful with this new routing system
     
    #53     Nov 30, 2017
    MoreLeverage likes this.