Function | DAS | IBKR | Charles Schwab |
Market Order | ✓ | ✓ | ✓ |
Limit Order | ✓ | ✓ | ✓ |
Stop Orders | ✓ | ✓ | ✓ |
Trigger Orders | ✓ | ✓ | ✓ |
OCO Order | ✓ | ✓ | *✓ |
Basket Order | ✓ | ✓ | ✓ |
Day | ✓ | ✓ | ✓ |
Day+ | ✓ | ✓ | ✓ |
IOC | ✓ | ✓ | ✕ |
GTC | ✓ | ✓ | ✓ |
GTD (Date) | ✓ | ✓ | ✓ |
FOK | ✓ | ✓ | ✓ |
At Open Order | ✓ | ✓ | ✕ |
At Close Order | ✓ | ✓ | ✕ |
AON | ✓ | ✓ | ✕ |
ANY | ✓ | ✓ | ✓ |
Order Check | ✓ | ✓ | ✓ |
Partial Fills | ✓ | ✓ | ✓ |
Cancel/Replace | ✓ | ✓ | ✓ |
Direct Access Trading | ✓ | *✓ | ✕ |
Direct Routing | ✓ | ✓ | *✓ |
Trading Restrictions | ✓ | ✓ | *✓ |
Hotkeys | ✓ | ✓ | ^✓ |
Short List | ✓ | ✓ | ✕ |
Short Locate Tool | ✓ | ✕ | ✕ |
HFT | ✓ | ✓ | ✕ |
Scalping | ✓ | ✓ | ✕ |
Fractional Shares | ✕ | ✓ | ✕ |
Pre-Market Start Time | 4AM ET | 4AM ET | 7AM ET |
Post-Market End Time | 8PM ET | 8PM ET | 8PM ET |
Futures | ✓ | ✓ | ✕ |
Futures Options | ✕ | *✓ | ✕ |
Forex | ✓ | ✕ | ✕ |
Options | ✓ | ✓ | ✓ |
Complex Options | ✓ | ✓ | ✕ |
TSX (Toronto Exchange) Order Entry | ✓ | **✕ | ✕ | INETM/ARCAM | ✓ | ✓ | ✕ |
*These functions may be fully supported by DAS first-party brokers, but will work differently with some limitations by each broker. DAS is direct access trading only for first-party brokers. IB (and Schwab) do not natively use our software, which is why a separate subscription is required from our website to use our platform to send orders to them separately. ALL IB and Schwab orders are sent through a gateway to IB (and an API to Schwab) and processed/filled by them. If millisecond latency is an issue, you should consider using a first-party broker that sends orders from DAS directly to the market instead of a third-party broker that must handle all of the orders themselves.
**Due to regulatory concerns, these orders must be placed directly through IB.
^Schwab acknowledgement is above a microsecond delay and so some hotkey orders may get rejected.