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Direct MessagesDate/Time: Sun, 19 May 2024 00:03:07 +0000
Help with Recommended Clearing or Introductory broker for equity trader
View Count: 105
| [2024-04-12 11:26:26] |
| ThetaCompounder - Posts: 5 |
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I’ve looked at your documentation (which is excellent) around Teton and brokers that support futures trading. Is there a list of recommended brokers for equity traders. Specifically, I like to scalp index ETFs because there are virtually no trade commissions. I read your disclaimers/discouragement on IBKR which give me pause. Are there brokers that you do recommend with strong API that offer commission free equity ETF trading? It’s clear that the roots of this platform are in futures trading and I will do some of that because of 1256 tax advantages. But one of my core strategies is trading IWM with bracket orders so I’d like a platform that supports both. I’ve been using Thinkorswim effectively until recently but Schwab backend migration greatly diminished their backet order functionality so I’m looking for a full function DOM trading solution. In a prefect world I’d like a recommended broker that supports Teton for futures that also offers commission free equity trades. One that offers sever side protection for bracket orders so that my stops and limits are not dependent on an internet connection. If I’m barking up the wrong tree with Sierrra Chart that’s fine. I’d like to know that before investing more time in learning the platform. Thanks in advance. |
| [2024-04-12 14:27:44] |
| John - SC Support - Posts: 31704 |
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At this time, the only broker that we work with that supports equity trading is Interactive Brokers. And you can do both Futures and Equity trading with them. Just be aware that they use their own order routing and do not use our Teton Order Routing service. For the most reliable, advanced, and zero cost futures order routing, use the Teton service: Sierra Chart Teton Futures Order Routing |
| [2024-04-12 14:44:42] |
| ThetaCompounder - Posts: 5 |
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Thanks, I know you don't like a lot of IBKR support questions this is more of a functionality question. I do like the Sierra Chart DOM and the order flexibility. But can you answer two functionality questions. (1) Does the IBKR current integration offers sever side protection for bracket orders so that my stops and limits are not dependent on an internet connection (if the answer is no that's a show stopper for me) (2) Do the IBKR issues you're aware of impact any of the rich Sierra Chart functionality around bracket orders or advanced trade management. I may end up using IBKR for equities and another broker for futures to take advantage of the Sierra and Teton functionality and futures tax advantages.
Date Time Of Last Edit: 2024-04-12 15:07:17
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| [2024-04-12 15:26:07] |
| John - SC Support - Posts: 31704 |
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1) Interactive Brokers has support for both Server Side OCO and Bracket orders. Refer to the information at the following link: Interactive Brokers Trading Service: What is Included 2) The issues with Interactive Brokers is about the communications between the systems. So the functionality within Sierra Chart of how you manage orders is all available. It is just that sometimes the information is not transferred back to us as we expect, which then causes issues with your orders on Sierra Chart. Refer to the information here: Interactive Brokers Trading Service: Trading Related Issues For the most reliable, advanced, and zero cost futures order routing, use the Teton service: Sierra Chart Teton Futures Order Routing |
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