Is there any prop firm that trades through Interactive Brokers? Alternatively a prop firm that trades thru a broker that supports server based simulated stops? I'm currently with one LLC that trades thru Genesis. I'm quite happy but the main reason I'm looking around is that Genesis doesn't support broker based stop orders. It affects my strategy quite a lot since my ping time from Australia is around 250 ms. If my stops reside on brokers server, they could get executed more than 1/2 second faster. It makes a difference (less slippage) in my momentum type of entry.
At least 250ms is just ping to some US servers. It doesn't include latency of broker sending the order. All the prop firms I know of only allow you to have simulated stops on your PC. I'm looking for broker server based stops so I can save 250ms receiving quote and 250ms sending my order to a broker, since virtually all my entries are stop orders. There is less slippage if I use IB for order entry than if the orders are sitting on my PC in my current prop software.
I've never used IB, but since they are a retail firm I assume they are limited to 2:1 overnight buying power on equities.....Is that correct?
Yes, same as with Genesis and other brokers. If you have a retail account, you will get retail leverage. That's why I'm trying to find prop firm that trades thru IB. Is there any?
I am looking into BrightTradin, they have 5:1. I have been talking with them & they seem open to ideas of adding new companies to their repertoire. You might look into them....I will post back here anything I find out that might help.
There must be a HUGE market for a prop firm that offers TWS front-end. I wonder if IB wouldn't mind such business? Maybe they could finance a prop firm and operate under the umbrella of TimberHill and offer the advantages of prop trading themselves to qualified accounts that have been with IB for a minium of 3months or something like that.
Yes, I'm pretty sure that kind of deal would be in a huge demand. But I don't expect IB to do it themselves. It's surprising though that I'm unable to find a prop that trades thru IB. Especially after IB lowered commissions and added option to pass thru ECN rebates.