Weird stuff on IB

Discussion in 'Forex Brokers' started by gwac, Apr 25, 2006.

  1. gwac


    When you leave an order it shows up at times one
    point higher or lower depending what side you are on.
    Example mkt on Cad is 20/24. I put an order to sell at
    22, the ask shows 23. That is not how an ecn is suppose to work. This has only happened to me tonight

    When I try to hit the bid the bid drops by a point, I cancel
    the order it goes back up. I try to hit the bid again it drops
    by a point. These are limit orders. This has happen in both
    euro and cad tonight

    Something fishy is up....
  2. gwac


    Mkt on cad was 23/25, i could not hit the 23, I had to leave
    an order at 21 ( i wanted to get out to go to bed). I left
    an order to sell USD at 21, their bid is at 23, they took
    1 minute to fill the 21, while the screen showed 23/25.

    Something is up.

  3. def

    def Sponsor

    It looks like one of the market making banks had a stale quote or hiccup with their system during the time you placed your order. Things are fine now (I know for certain as I just got immediately hit on an offer which split the two pip wide market by the same firm making th 5m up markets.)

    In the future, should you observe such behavior again, please immediately contact the help desk who then can request our operations personnel contact the offending bank.
  4. fseitun


    If I understand your problem correctly, you are trying to place limit orders TOO CLOSE to the current bid/ask spread.

    Usually you are not allowed to place limit orders closer than 5 pips from the current bid/ask spread. Why?

    As an insurance against market volatility.

    Before we start screaming: THIEVES!!! SCAM!!! etc... I suggest we all learn the rules of the game.

    What happened to you is normal.
  5. I had an incident yesterday where tws froze and I had to close it and re-log in. Magically and extra tab appeared on the trading window labeled API. A few hours later tws froze again and again I quit then re-logged in and the API tab had gone.
    Anyone have a clue as to what that is all about?

  6. sccz97


    if the api tab isn't visible. .. it will usually appear when you send and order via the api. I too have had tws freeze just when I need to trade. This is becoming an all too common occurence and needs to be sorted out
  7. fseitun,

    what you describe is normal for bucket shops which trade against their customers. With IBs ECN you should be able to put in an order at every price you wish though, and the order should become the new bid/ask if placed within the spread.
  8. As mentioned, with IDEAL Pro you s/b able to place bids/offers where you wish...
  9. I would quit IB before you lose your money if I were you.
  10. gowron8


    absolutely can place orders at whatever price you want.

    The notion that IB is a bucket shop is ludicrous.
    #10     May 17, 2006