Online Broker with all kinds of orders

Discussion in 'Retail Brokers' started by LeoK, Apr 26, 2002.

  1. LeoK



    I'm looking for Futures Online Broker who can provide all kinds of electronic order types.

    I'm doing part time trading with Futures, and I need 100% electronic trading.

    I don't have time to watch the market, and I need the following order types:
    1) Market
    2) Limit
    3) Stop
    4) Market on Open
    5) Market on Close
    6) One Cancel Other (OCO)

    Below are comments on Brokers I've dealt so far:
    a) ELOCALTRADING uses J-Trader software. Doesn't provide types 4,5,6

    b) EFLOORTRADE uses J-Trader software. Doesn't provide types 4,5,6

    c) POINTDIREX - Doesn't provide types 4,5,6

    d) ALARON uses RAN software. Doesn't provide OCO. For OCO wants to call in.

    e) JP Futures. They have both J-Trader and RAN. Can't use their J-Trader due to firewall issues. RAN doesn't have OCO. For call in to watch OCO they charge fee for each order to cancel.

    f) Interactive Brokers (IB). Can't resolve firewall issues.

    g) ANCO - Doesn't provide types 4,5, 6

    I would appreciate any help.
  2. The system accepts the following types of orders.

    Buy - Buy Order
    Sell - Sell Order
    Spread - Buy one contract and sell another
    BuyOCO - Execute buy order and cancel other order
    SellOCO - Execute sell order and cancel other order
    BuySpread - Option buy spread
    SellSpread - Option sell spread

    MKT - Market Order
    LMT - Limit Order
    MIT - Market if Touched
    MOC - Market on Close
    FOK - Fill or Kill
    STWL - Stop with Limit
    STOP - Stop
    OB - Or Better
    OBOO - Or Better Open Only
    OBCO - Or Better Close Only
    SCO - Stop Close Only
    SOO - Stop Open Only
    STL - Stop Limit

    Use Trading Login, then hit Interactive Demo. See also Help ( I took the above from there )
  3. monee


    What would concern me is that only limit and stop orders reside on globex.
    These other types of orders do not and if the broker has a tech problem so do you.
    Just my conservative viewpoint .
  4. Sanjuro


    f) Interactive Brokers (IB). Can't resolve firewall issues.

    LOL, you mean you can't resolve firewall issues.

    I trade from work through a firewall perfectly fine.
    I trade from home through a firewall also.

    You should ask one of your network friends to set it up
    correctly for you.
  5. josbarr


    Try refcoexpress aka LEO.

    It's $10 rt.

    If you're interested send me an E-Mail and you can demo it.