Interactive Brokers adds “snap to” orders to Mosaic Order Entry panel in TWS

Maria Nikolova

“Snap to Midpoint” is one of the order types that can help platform users trade within the spread. Others are Adaptive Algo, Relative, Pegged-to-Midpoint, and Limit order.

Trader Workstation (TWS), the trading platform developed by Interactive Brokers Group, Inc. (NASDAQ:IBKR), has been enhanced lately, with the revamp of the artificial intelligence technology behind IBot being among the changes. However, the lineup of enhancements to the platform is not exhausted with IBot and the company has just announced some improvements with regard to availability of certain order types.

The latest Beta version of TWS increases the variety of orders in the Mosaic Order Entry panel thanks to the addition of several “snap to” order types. All “snap to” orders are similar to pegged orders, as the original order price is determined by the current bid/ask plus or minus an offset. Unlike the pegged order price, however, the “snap to” order price does not continue to peg as the price moves.

“Snap to Midpoint,” “Snap to Market” and “Snap to Primary” orders have now all been added to the Mosaic Order Entry panel.

Let’s take a look at the “Snap to Midpoint” order. To create such an order, the trader has to select SNAP MID as the order type and then to enter an offset amount which computes the active limit price as follows:

  • Sell order price = Midpoint of the Bid/Ask price + offset amount;
  • Buy order price = Midpoint of the Bid/Ask price – offset amount.

“Snap to Midpoint” is one of the order types that can help platform users trade within the spread. Other such order types are Adaptive Algo, Relative, Pegged-to-Midpoint, and Limit order.

FinanceFeeds has already informed its readers about Adaptive Algo. As its name suggests, it adjusts to market conditions. To make use of the Adaptive IB Algo in Mosaic’s Order Entry, one simply has to click on the Adaptive button – this will activate the Adaptive mode. Traders then may choose to set a specific limit price, which results in an Adaptive Limit order, or leave the “MARKET” price, which leads to an Adaptive Market order.

An Adaptive Market order dynamically selects and varies the price in order to fill at the best all-in price. An Adaptive Limit order uses the limit price as a price cap. The Adaptive Limit will only fill at the specified limit price or better.

Read this next

Retail FX

Weekly Roundup: Funded Trader closure, Coinbase adds Apple Pay

Welcome to this week’s roundup, where we delve into the latest developments in the Forex, Fintech, and cryptocurrency markets. Stay ahead of the curve with our comprehensive overview of the week’s most impactful events and trends across these dynamic sectors.


Presale Rush: BlockDAG Outshines Furrever Token and DeeStream Presales with 20,000x ROI Potential, Raising Over $16.4M

Discover April 2024’s presale hits, as BlockDAG, Furrever Token, and DeeStream Presales battle it out. Which will explode in 2024?

Digital Assets

Shakeeb Ahmed gets three-year sentence for hacking Nirvana, Crema

A New York court has sentenced computer security engineer Shakeeb Ahmed to three years in prison for conducting flash loan attacks on decentralized cryptocurrency exchanges in 2022, marking the first-ever conviction for a breach involving smart contracts.

Digital Assets

TON Foundation teams up with HashKey on fiat access for Telegram Wallet

The TON Foundation, a collective of developers behind The Open Network (TON) blockchain, has entered into a strategic partnership with digital asset financial services firm HashKey Group.


BlockDAG aka Kaspa’s Toughest Competitor Releases DAGpaper, Lightes Up The Las Vegas Sphere Pulling Shiba Inu Investors & Amassing $16.4M in Presale

BlockDAG, emerging as a Kaspa competitor, unveils its DAGpaper, spotlighting the Las Vegas Sphere and captivating Shiba Inu investors with a $16.4M presale success.

Fundamental Analysis

Global FX Market Summary: USD, ECB, Gold, Oil  April 12 ,2024

A strong US economy, cautious Fed policy compared to Europe, and safe-haven demand are all fueling the surge of the US Dollar.

Digital Assets

Thai crypto exchange Bitkub eyes $3 billion valuation

Thailand’s largest cryptocurrency exchange Bitkub is gearing up for a public offering next year with a potential valuation of up to $3 billion, according to Bitkub Capital Group CEO Jirayut Srupsrisopa.

Technical Analysis

GBPUSD Technical Analysis Report 12 April, 2024

GBPUSD currency pair can be expected to all further toward the next support level 1.2400, target price for the completion of the active minor impulse wave.

Market News

Navigating Currency Trends: Extensive Analysis on EUR/USD Signal

Traders Union provides comprehensive daily analysis and signals for EUR/USD.