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What is the cost?
Included in your membership you have the ability to send orders manually using our order entry page or manual rebalance, and autotrade up to three portolios (if you are using Books, each asset constitutes 1 Portfolio). Also included in your P123 membership is the ability to use TRADE with up to two brokerage accounts.
Is it safe?
Please see the Security section.
Can TRADE orders span multiple days?
No, we only send day orders to IB, which means you may have unfilled orders. The automatic feature will not re-submit orders.
Can TRADE orders be cancelled?
Scheduled TRADE orders (not yet sent to IB) can be cancelled. For "working" TRADE orders you can send a cancel request to IB and wait for the confirmation. Please be advised that there is a slim chance of a cancelled order being executed that is out of our control. When cancelling with TRADE we recommend waiting a few minutes and verifying through your Broker interface that the order was not executed.
Can TRADE orders be modified?
No, TRADE does not support modifications to an order. You can cancel the order and start over, or log in to your Broker to make modifications. Any changes done via your broker interfaces will not be reflected in TRADE (however we will still receive fill information).
Do I need to logon to TWS in order to use TRADE?
TRADE uses the FIX standard to send orders which does not require you to log-in to the Trader Workstation (except for some advanced trading algorithms). All orders sent with TRADE will be visible if you log in to your Broker account whether via TWS or WebTrader.
What happens if I enter a trade into the system while the market is closed?
If the market is closed and you enter trades into Portfolio123 without specifying a scheduled execution time - either manually or sent from a portfolio - they will be scheduled for the next normal day of trading. Note that IB day trades will not be cancelled in the event of a market holiday. You should check after a holiday to make sure that your trades actually went through.
How do I terminate TRADE feature?
Send an email to salessupport@interactivebrokers.com and request the Trade Signal provider permission to be discontinued.