+1 888 340 6572 GET STARTED
MultiCharts Project Management
previous_open_issue.png
Go to the previous open issue
previous_issue.png
Go to the previous issue (open or closed)
star_faded.png
Please log in to bookmark issues
feature_request_small.png
Open Feature request MC-2707

Interactive Brokers native algo orders for price improvement and more
action_vote_minus_faded.png
1
Votes
 action_vote_plus_faded.png
next_issue.png
Go to the next issue (open or closed)
next_open_issue.png
Go to the next open issue
Description

Hi,

It would be very beneficial for MC and IB users to be able to send native algo orders from MC. Trying to replicate this algos on MC is not an efficient way to go about it. Price improvement is one of the main bennefits. IB has an adptive algo that is pegged to the mid price (ask*bid)/2. Trying to replicate this in MC is cumbersome.

Benefits:

Price improvements
Hide big orders
Seek more exchange
said by IB:
Order types and algos may help limit risk, speed execution, provide price improvement, allow privacy,
time the market and simplify the trading process through advanced trading functions.

IB Algo trade Benefits

Comments (1)
icon-mono-settings.png
#1
user-offline.png Chris Page (Chris Page)
Apr 07, 2023 - 11:00

This would be a HUGE value add for ANY Multicharts customer that trades on Interactive Brokers! One of our biggest trade-offs using MC, and one of the biggest reasons we don't trade larger orders using MC, is lack of algo order type support.

IB has quite a few VERY useful algo order types, and anyone trading on IB without using them is literally leaving money on the table.

If MC does nothing else, at least implementing support for IB's "Adaptive Algo" order type (just an on/off for limit and market orders) would be a huge improvement. We've run the same orders for a month in parallel accounts, one with Adaptive Algo and one without, and Adaptive Algo filled orders at better prices over 75% of the time.

History
sidebar_collapse.png sidebar_expand.png
Issue basics
  • Type of issue
    Feature request
  • Category
    Not determined
  • Targeted for
    Not determined
  • Status
    Under Review
User pain
  • Type of bug
    Not triaged
  • Likelihood
    Not triaged
  • Effect
    Not triaged
Affected by this issue (0)
There are no items
People involved
Times and dates
  • Posted at
  • Last updated
Issue details
  • Resolution
    Not determined
Attachments (0)
There is nothing attached to this issue
Commits (0)
There are no code checkins for this issue
Duplicate issues (0)
This issue does not have any duplicates