Is IB Order Cancel really slow?

Discussion in 'Retail Brokers' started by ajax_g, Oct 27, 2001.

  1. ajax_g

    ajax_g

    A friend of mine trades with InteractiveBrokers.com. She is quite happy with it apart from the Cancel-order process.

    Yesterday she tried to cancel 3 orders. It took several minutes to get the RED light-Order Cancelled. In one case she waited 11 minutes.

    All those orders were for very liquid stocks. So said she.

    Does anyone else have the same problem in general not only yesterday?
    Is the IB CANCEL-order slow?

    ajax
     
  2. im sorry ajax.. the admin here doesnt allow this type of thread/discussion unless IB starts advertising here.. we are all trying to comply with his wishes but you can ask def over at

    http://www.daytradingstocks.com/ubbcgi/Ultimate.cgi

    i will be happy to relate my experiences there as well..

    -qwik
     
  3. ajax_g

    ajax_g

    I read some posts from other persons and they talk about problems they have/had with their brokers/trading firms.

    I don't understand why my question does not comply with the rules here.

    I just wanted to know the opinion of other IB users about the Cancel-order process.

    They can confirm it or deny it.

    What kind of questions can we post here? How can we ask other people if they face the same problem as we?

    Please give some guidance.

    Thanks
     
  4. def

    def Interactive Brokers

    the cancels are not slow. once an order is red it is cancelled. it remains on the screen for a little while after it is cancelled for info purposes.

    the IB manual on the web site explains this.
     
  5. No problems with cancels unless there are technical problems. Otherwise less than one second is the norm to ecns, a bit longer to the NYSE and options exchanges.

    If I have an order not cancelling after 30 seconds, there's a problem and I call it in.
     
  6. Ajax J

    I have heard that IB has had problems with Nasdaq stop-loss
    orders. Was she trying to cancel a stop-loss Nasdaq order?

    :mad:
     
  7. ajax_g

    ajax_g

    version77,

    no they were normal LIMIT orders.

    In one case it took 11 minutes to have the actual CANCEL, i.e. color change from MAGENTA to RED (which is the most critical part).

    Can someone give some more info?

    thanks
     
  8. I wish I could give more info. I am about to start trading with
    Ib when my check gets to IB and clears. They hold the checks
    for 10 days. But I would assume that a limit order should
    cancel within seconds. Eleven minutes sounds like a Datek
    or E*Trade type of nightmare. I have never heard anyone
    complain about a trade like this before about IB and I have
    been reading almost all of the IB threads for quite awhile.

    IB did have problem a few days ago where the whole system
    went down for a good part of the day. From what I have read,
    it doesn't happen very often. Maybe this was the day your
    friend couldn't cancel her order the way it should of been
    cancelled.

    :(
     
  9. def

    def Interactive Brokers

    orders should cancel immediately (within a few seconds at most). if you have the problem again, i suggest you e-mail tac@interactivebrokers.com they can track your audit trail, check your connection etc. The guys in the tecnical support group are quite good.
     
  10. ddefina

    ddefina

    Cancels work in milliseconds for me at IB unless NYSE or certain routes, then its seconds. I wouldn't worry about the problem being IB's. And Stops are working fine.
     
    #10     Oct 28, 2001