Broker Summary - Interactive Brokers: Analysis And Trading Tools
  1. Broker Summary - Interactive Brokers: Introduction
  2. Broker Summary - Interactive Brokers: Account Types And Minimum Deposits
  3. Broker Summary - Interactive Brokers: Services Offered
  4. Broker Summary - Interactive Brokers: Commission, Fees And Customer Support
  5. Broker Summary - Interactive Brokers: Analysis And Trading Tools
  6. Broker Summary - Interactive Brokers: Conclusion

Broker Summary - Interactive Brokers: Analysis And Trading Tools

Traders and investors can choose from several trading platforms (introduced in the "Services Offered" section of this tutorial).

Trader Workstation - TWS
IB's Trader Workstation is its most powerful, full -featured platform that supports more than 50 order types and algorithms that traders and investors can use to limit risk, speed execution, gain price improvement, maintain privacy, time the market and simplify the trading process through advanced trading functions. When using TWS, traders can:

  • Log in via browser-based version or standalone version

  • Add market data to view real-time data (TWS supports direct-access trading for options, futures, forex, stocks, bonds and funds)

  • Submit orders, including advanced order types

  • Monitor account activity (including real-time balances, margin requirements, buying power and P&L)

  • View trades (including daily execution reports)

  • Configure features (such as display settings and style, charts and analytics)

  • Choose from more than 20 technical indicators including Stochastic and Williams Oscillators and Simple, Exponential and Weighted Moving Averages, and MACD Indicators.
Figure 5: IB\'s Trader Workstation
Source: Interactive Brokers
SEE: Technical Analysis: Introduction

Advanced tools of the Trader Workstation include:

  • Accumulate/Distribute algo - randomized order quantity and submission time intervals to help traders get the best price on large volume orders without being noticed in the market

  • BasketTrader - create and trade a basket of individual underlying components as a package

  • BookTrader - create, modify and transmit orders for a single contract from within the book price ladder

  • ChartTrader - real-time line, bar or candlestick charts, with complete order management capabilities from any intraday chart

  • ComboTrader - use named strategy templates or create custom combination orders

  • DepthTrader - gauge market liquidity with trading volume away from the inside quote, including TotalQuotes and NYSE Deep Book, which are available by subscription

  • FXTrader - real-time streaming quotes, up/down indicators, trading volumes, pending trades, executions, positions, and average price plus P&L for Forex markets

  • Option Portfolio - adjust the risk profile by any of the Greek risk dimensions

  • OptionTrader - analyze and manage options orders

  • ScaleTrader algo - scale large orders into smaller, incrementally priced components based on specified price and size instructions

  • SpreadTrader - create and manage complex futures, options and EFP spreads
Broker Summary - Interactive Brokers: Conclusion

  1. Broker Summary - Interactive Brokers: Introduction
  2. Broker Summary - Interactive Brokers: Account Types And Minimum Deposits
  3. Broker Summary - Interactive Brokers: Services Offered
  4. Broker Summary - Interactive Brokers: Commission, Fees And Customer Support
  5. Broker Summary - Interactive Brokers: Analysis And Trading Tools
  6. Broker Summary - Interactive Brokers: Conclusion
RELATED TERMS
  1. Market Order

    An order that an investor makes through a broker or brokerage ...
  2. Order

    An investor's instructions to a broker or brokerage firm to purchase ...
  3. At The Highest Possible Price

    A type of security trading designation that instructs a brokerage ...
  4. Scale Order

    A type of order that comprises several limit orders at incrementally ...
  5. Limit Order

    An order placed with a brokerage to buy or sell a set number ...
  6. Executing Broker

    The broker or dealer that finalizes and processes an order on ...
RELATED FAQS
  1. What's the difference between a market order and a limit order?

    Buy and sell trades with market orders at the present stock price and execute limit orders if the stock price falls within ... Read Answer >>
  2. How do I place a limit order online?

    Learn how a limit order is placed, the types of stocks it is most useful for and the specifications placed with it to suit ... Read Answer >>
  3. Why do limit orders cost more than market orders?

    Learn the difference between a market order and a limit order, and why a trader placing a limit order pays higher fees than ... Read Answer >>
  4. What are the advantages of a limit order over a market order?

    Understand the functional differences between a limit order and a market order and the respective advantages and disadvantages ... Read Answer >>
  5. What is the difference between a stop and a market order?

    Learn about market orders and stop orders, how they are used and executed, and the main difference between stop orders and ... Read Answer >>
  6. How do I set a strike price in foreign exchange trading?

    Learn about the different order types foreign exchange traders can use to manage positions at certain strike prices and how ... Read Answer >>

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