Unacceptable Limit Stock Order Handling by IB

Stop orders seem to be simulated by IB
https://www.interactivebrokers.com/en/?f=/en/trading/orders/stop.php

I am not sure about limit orders.

 

I can assure you your replies in this thread are of no value whatsoever to the topic at hand, as suggested by SIG

 

they are not simulated. If chosen then they can be held on IB's server, which is actually sometimes very useful, at other times less. By the way when talking about stop orders at IB one needs to be accurate. For a buy stop order to be triggered the bid, not the offer, has to touch/exceed the stop price.

 

you are the one who does not understand IB. You can choose to have a stop or limit order held by the exchange, given the exchange accepts limit and stop orders. You can also choose to have the limit or stop order held on IB's servers. Not sure what the issue here is.

 

What is the difference between orders that are simulated by IB and held on IB's server?

 

no difference which is why I wonder why you call them simulated. (regardless of what IB calls it), either they are held on IB's server or the exchange's. By the way you can change the trigger methodology even. What more customizability do you desire?

 

The presumption here is that a choice can be made to transmit or not a limit order. Where? When I click transmit that is not good enough? And that the default is held on IB's servers. Seems odd. No such option anyways that I am aware of. Normal behavior would be this. Limit order placed, it shows up live on a public exchange. This is not the case.

 

The issue is that sometimes IB holds a limit order on their server without you asking them to and without giving you an option to get it to the market, even if you want it to go to the market. They don't tell you this, you only know because your bid/offer inside the spread doesn't become the NBBO on the tape. Imagine if every broker did that, there would be no more market!
BTW, this is a legitimate question, in what scenarios do you find it beneficial for IB to hold a limit order on their server instead of putting it out to the market? I always put a limit order out because I want it filled, so I can't see the benefit of limiting who can see it, but I realize I might not have run into the scenario yet where this was desirable.

 

Simulation is what IB ( or other broker ) does with the order ( like sending it to exchange under certain conditions ) besides of holding it on its server. Somehow I am sure the OP understood my post.

 

IB has reps that troll these forums.... Interesting that they are not choosing to take on this topic.