Interactive Broker rejecting Stop Limit Orders

Discussion in 'Order Execution' started by Atikon, Jun 4, 2020.

  1. Atikon

    Atikon

    Hello,

    IB is apparently rejecting Stop Limit Orders if the Setup for the tollerance is beyond 20% of the NBBO, which is a way for IB to reject Fat Finger Orders, but chatastrophic when a flash crash would happen. Is there a way to fix this? Can I relieve IB from Liability to widen my tollerance? Also there might be limits to stop loss/tollerance limits depending on Exchanges?

    Are there other Broker out there where the tollerance is not limited? I would also need a double bid/ask setting to avoid spoofing/fat finger bids/ask that would trigger the stop limit order.

    BR
     
  2. maxinger

    maxinger

    various brokers & exchanges have various restrictions due to various reasonsss.


    You will find this odd ;
    One of my brokers don't even allow STOP order & MARKET order for certain products !!!

    we just have to live with the restriction, or change the broker, or change the trading platform ...
     
    Last edited: Jun 4, 2020
    Atikon likes this.
  3. Atikon

    Atikon

    thx would you have a suggestion for me? I need double Bids and wide tollerance
     
  4. Metamega

    Metamega

    In a flash crash, a stop limit is probably the worst time to get out. Look at Aug 2015.
     
    Atikon likes this.
  5. There are now circuit breakers in place what makes it a different story anyways.
     
  6. Conditional order GTC?
     
  7. Atikon

    Atikon

    Conditional