IB vs. OEC who has faster fills

Discussion in 'Retail Brokers' started by Solid Mom, Nov 14, 2008.

  1. Hello,

    I have accounts at both but haven't done much with the IB account. At OEC I like their platform better, as it is more intuitive. But sometimes at OEC my orders aren't filled as soon as the price first hits where I have my order. I guess there is some kind of cue line, and I'm not first in line. Who is first? Where am I in line on OEC, and would I move up in line more quickly with a different broker?

    I appreciate how helpful folks at ET have been.

    Mom
     
  2. depending on what market you are trading, you cant really expect to be filled as soon as price hits your orders. There's usually a bunch of orders in line before you. If you want to be filled as soon as price hits your order, use a MIT order.
     
  3. moarla

    moarla

    who do you think has more money to buy the best lines and infrastructure?
    OEC is a mini broker compared to IB.
    I use IB and have very fast fills, use only market orders
     
  4. Interesting, because if I search for IB, i'm sure to find thread after thread about how they messed up. Of course OEC has problems every now and again, but not like IB.

    What you are talking about (market orders) and what the OP are talking about(limit orders) are different things.

    So are you saying if I put and order to buy the ES at 884 and price is at 886, and it comes down to touch 884 for a second or two, IB will get filled while OEC will not?
     
  5. moarla

    moarla

    I dont have ANY problem with IB (i trade only futures on CME and EUREX).
    As i said i use only market orders, and they couldnt be faster.
    when u submitt a limit order to the exchange, the exchange will fill u or not, has nothing to do with IB or OEC. But who was first to submit the limit order at a certain price will be filled FIRST! so all the black boxes and traders sitting near the exchange will be always faster then u (IB or OEC). :))

    As i said, i use only market orders and market orders are always first :)) and when i press the button for the order, the fill is on my screen at the same second (on Eurostoxx or ES) :)
     
  6. I cannot speak to IBs fill quality, but I have had no issues with OEC on frilling orders timely. For my secondary broker, I use CQG Trader through RCG.

    Also, OEC has all of the info on where their servers are hosted (Equinix Chicago if I remember right) on their site. The data center they use is not a mickey mouse operation.

    What markets and/or order types did you have issues with?

    Eric
     
  7. Thanks for the replies.

    I trade ES, scalp I should say, and I am new to it after playing with stocks for while. Now that I found futures, I don't trade stocks anymore at all. I'm focused on tackling my learning curve trading just the ES, and after that I may try other futures or even a little Forex, but I will probably just trade ES for a year or so first.

    The market order to sell is interesting. I will play with that. Mentally, as long as I get filled at a decent price, I would rather have it filled quickly, because I get nervous if I see the price touch my limit order price but I don't get fill and then the market changes. My stops are tight now so I hopefully will not lose too much capital during my learning curve and market orders may help compensate. I'm still figuring out my risk/reward set up -- where to place stops and when to take profit.

    Mom