I use Merrill Edge but I find that the types of orders available to investors are quite limited. I would like to see the list of types of orders available for each major brokerage firms.
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1You will have to make an account with each firm and find out. Such a list would be continually changing, and is out of scope for this site.– AganjuCommented Dec 10, 2018 at 15:41
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Order types are fairly standardized and change very little. Occasionally, brokers add some new ones but Market, Limit, Stop, GTC, AON, orders are never going away.– Bob BaerkerCommented Dec 10, 2018 at 18:01
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OP, what's your evaluation of the Merrill Edge platform?– Bob BaerkerCommented Dec 10, 2018 at 18:02
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1 Answer
Basic order types available at brokers include:
- Market
- Limit
- Stop
- AON
- GTC
Some traditional discount brokers (like Ameritrade) offer additional order types:
- Stop to open
- Stop-limit to open
- Fill or kill/all or none
- One cancels other
For more than that you have to look into platforms for traders such as:
Interactive Brokers offers 60+ order types and algos:
https://www.interactivebrokers.com/en/index.php?f=4985
TradeStation offers algo apps and the platform allows you to construct your own.
answered Dec 10, 2018 at 16:28
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Interactive Brokers has some bad reviews at yelp.com/biz/interactive-brokers-greenwich...– 180224Commented Dec 11, 2018 at 15:21
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Some of the criticism of Interactive Brokers on Yelp is valid. Some of it is baseless. People with complaints are more vocal than happy campers. If you look up other brokers on Yelp, you'll find that they all have negative reviews. So if a negative review is going to prevent you from using a brokerage, forget about investing. Commented Dec 11, 2018 at 15:50