Electronic trading major Interactive Brokers continues to enhance its trading solutions, with the IBKR Desktop platform getting a set of novel features.
The latest (beta) version of the platform comes equipped with a Market Depth (Level 2) Widget to custom layouts which displays the alternative bids and offers away from the inside quote to allow traders to better gauge market liquidity. Level 2 includes the price book and order book, listing all price levels of quotes submitted to an exchange and each individual quote.
Note that L2 market data subscriptions are needed to receive market depth and momentum statistics.
The platform now also offeran Exit Strategy feature which allows you to set up a bracket order on a current position or working order. Bracket orders are designed to help limit loss and protect profit by “bracketing” an order with two opposite-side orders that ready to go and are submitted when the price of the instrument penetrates either order’s trigger price.
Navigate to your portfolio, right-click an instrument and select Exit Strategy. Modify the limit/stop price and press Preview to review this order. Once confirmed, click Submit Orders and the order will be transmitted.
