StockFetcher Forums · General Discussion · Question to Canadian Traders<< >>Post Follow-up
17 posts
msg #72302
Ignore timfor
3/9/2009 1:38:42 PM


I'm hoping there is a fellow Canuck on this forum who can help me out.

I currently trade with ETrade Canada using their Axis Pro trading software.

I think this software isn't the best but more importantly, ETrade Canada doesn't enable all of the functionality of the software and this is driving me nuts. TradeFreedom Canada also uses Axis Pro but they too don't have all the functionality of the software enabled. Why? I can only surmise that it probably costs them more to license the software.

I've heard that Interactive Brokers is good, but I'm not clear on whether or not I can trade US stocks on margin (both short and long) with them as a Canadian.

Further, there is some particular functionality that I'm looking for and I'm not sure if any of Canadian (assuming they allow Canadians to use their product) Interactive Broker (IB) clients can tell me if this functionality exists on the IB trading platform.

Here is the specific functionality I'm looking for using a short sale as an example:

When I'm short on a stock and I want to be able to cover the position quickly, I want to be able to use a keyboard shortcut to close the position within a user definable limit (say, .05 cents above the best ask price). In other words, let's say the stock I want to cover has a current best ask price of $25.00 a share. I want to be able to hit a keyboard shortcut that would put in a buy/cover order at the best ask price ($25.00) plus .05 cents ($25.05) to ensure (I hope!) that I get the short position covered at no more then $25.05 a share.

Thanks in advance to any Canadian using IB (again, assuming Canadians can use their product) who can help me out with this request.


StockFetcher Forums · General Discussion · Question to Canadian Traders<< >>Post Follow-up

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