IB Stop loss not working in Hong Kong Stock Market

Discussion in 'Retail Brokers' started by DirectTrader, Nov 24, 2010.

  1. IB is my backup broker now and I haven't really traded with it for the last year. I submitted two stop limit orders this month but they all failed miserably. I don't know if this problem persists for a long time or just happen recently. I have asked IB. One week passed. They still didn't give me any response. :(

    Here's what happened. I created a buy order of an HK stock with a stop limit attached. The buy order was executed. The price went up and I changed the stop price several time. Finally the stop price was adjusted to .69 (limit price .64). In other words once the price reached .69, a sell order of .64 would be sent to the market.

    The price dropped to .69. At that time the price was still struggling at between .68 and .69. But my stop loss was just stuck doing nothing. I had to submit a market sell order instead to exit manually. At that time I was exited at a much worse price. :mad:

    But when I played with it in paper trading account, the stop loss order works flawlessly. So there is something wrong when you really submit it to the market.

    It never happened to my local brokers. Their stop loss orders are very reliable and never fail (I submitted a lot of orders daily and not single one failed). I submitted two stop loss orders and none works. I still get no response from IB for a week. :(

    There are several bugs that I have reported in the past few months. None has been fixed so far.
     
  2. Roark

    Roark

    Who is your primary broker for the HK market? I've been looking for a replacement for IB.
     
  3. Hello. What are your needs or criteria?

    IB is still your best choice if you want to trade many worldwide products on one account.

    As far as commission go, commission is negotiable for most local brokerage. I have opened accounts in several local brokerage although I don't use all of them. The stock commission is around 0.03% - 0.05%. If you trade like 10m per month, commission can be much cheaper and this "much cheaper" commission applies to all of your stock trades this month rather than a specific value tier only.

    PM me if you want to know more details.