IBKR Desktop Improves with Market Depth and Exit Strategy Tools
Interactive Brokers introduces the latest beta version of its IBKR Desktop platform, introducing the Market Depth (Level II) widget and the Exit Strategy feature. These tools will improve trade visibility and order control.
What is a Market Depth (Level II) Widget?
The new Market Depth widget enhances the custom layout by displaying bids and offers beyond the inside quote. It includes the complete price book and order book that shows all price levels submitted to an exchange. Traders can view individual quotes and alternative price points to make more informed decisions. The Market Depth widget is integrated into the layout system. It displays real-time depth with separate columns for bid size, bid price, ask price, and ask size.
Access to this feature depends on having an active Level II market data subscription. The widget will not populate real-time data or show momentum statistics without it.
What is the Exit Strategy Feature?
The Exit Strategy tool lets traders attach a bracket order to existing or working positions. A bracket order includes two opposing orders — one to take profit, and another to stop loss. The platform automatically submits the corresponding order when the instrument’s price hits either the limit or stop trigger. It helps protect against sudden market movements and eliminates the need for constant manual monitoring.
To use this feature,
- Go to the Portfolio tab.
- Right-click on the instrument.
- Select “Exit Strategy.”
- Enter limit and stop prices.
- Click “Preview” to review the order.
- Click “Submit Orders” to activate it.
- The order executes automatically based on price movement.
Benefits of Market Depth and Exit Strategy Tools
This update will offer these benefits:
Improved Market Transparency
The Level II Market Depth widget on IBKR Desktop provides a detailed view of the entire order book. Traders can see multiple price levels and order sizes submitted to the exchange. It lets them interpret market sentiment more accurately and understand where major buying or selling pressure sits.
Better Liquidity Assessment
Users can evaluate how deep the market is at different price levels with access to alternative bids and offers. It’s useful when placing large orders to help avoid unexpected slippage.
Enhanced Trade Execution Strategy
The Market Depth data helps identify support and resistance levels. Investors can place limit orders at strategic price levels instead of chasing prices.
Automated Risk Management
The Exit Strategy feature on IBKR Desktop lets traders attach both a profit-taker and a stop-loss order to a position. It minimizes emotional decision-making and locks in profits or limits losses automatically.
Streamlined Trade Monitoring
Traders no longer need to manually monitor positions for exit opportunities. Predefined price levels in IBKR Desktop ensure the platform reacts instantly to market conditions.
Reduced Human Error
Manual order placement under pressure often leads to mistakes. The Exit Strategy tool eliminates that risk by automating the logic upfront. It helps investors stick to their plans and maintain consistency in execution.
About Interactive Brokers
Interactive Brokers is a global brokerage firm. It provides trading platforms to trade stocks, options, futures, forex, bonds, and funds. IB has low-cost trading, comprehensive market access, and decisive analytical tools. Also, it provides real-time pricing and risk management on trading floors. Recently, they released a new version of their IBKR Mobile app to enhance the app’s alert system.
Summing Up
Level II Market Depth and the Exit Strategy support better decision-making, stronger control over trades, and reduced risk exposure. The improvements show IBKR’s aim to equip users with professional-grade capabilities.
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