Order Types and Algos

Trader Workstation Supports over
60 Order Types and Algos

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.

Use the links below to sort order types and algos by product or category, and then select an order type to learn more.

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Important Information

Simulated Order Types

IB simulates certain order types (for example, stop or conditional orders). Simulated order types may be used in cases where an exchange does not offer an order type, to provide clients with a uniform trading experience or in cases where IB does not offer a certain order type offered natively by an exchange. While simulated orders offer substantial control opportunities, they may be subject to problems relating to performance of third parties outside of IB control, such as market data providers and exchanges.

Although we attempt to filter external data to ensure the best possible execution quality, IB cannot anticipate all of the reasons that a simulated order may not receive an execution, or may receive an erroneous execution. Unsatisfactory (non)executions may result from events, including [i] erroneous, missing or inconsistent market data; [ii] IB data filters (example: we may ignore last sale data that is reported outside the prevailing bid-ask as it often represents untimely or erroneous transactions; this may impact triggering of simulated orders); [iii] transactions subsequently deemed erroneous by an exchange; [iv] market halts and interruptions.

Clients should understand the sensitivity of simulated orders and consider this in their trading decisions.


Market Access Rules and Order Filters

Please note that exchanges and regulators require Interactive Brokers and other brokers to impose various pre-trade filters and other checks to make sure that orders are not disruptive to the market and do not violate exchange rules. Exchanges also apply their own filters and limits to orders they receive.

These filters or order limiters may cause client orders to be delayed in submission or execution, either by Interactive Brokers or by the exchange. Interactive Brokers or exchange filters may also result in any order being canceled or rejected.

Interactive Brokers reserves the sole right to impose filters and order limiters on any client order. Interactive Brokers will not be liable for any effect of filters or order limiters implemented by Interactive Brokers or an exchange.