So T212 are making use of IB where they have an omnibus account.
When you place an order via T212 what should happen is.
T212 > IB API > IB > Exchange
then the exchange responds with a reference and to say it’s placed or rejected etc
Exchange > IB > IB API > T212
At this point if placed, you should see the spinning wheel change to a cancel/amend status.
Basically it’s IBs API being shit, and not giving a response back in a reliable and timely fashion. Or its failing to get to the exchange stuck at IBs side, and not giving a response back needed to cancel the request.
They have a solution in progress, but this issue has been going on forever.
I’m hoping it’s resolve in 2020 to start the new year without it. It’s not cool putting in a market order and having it stuck for a random time 5mins to 5hrs with a spinning wheel unable to cancel. Makes a significant problem when dealing with penny stocks where the price could have shifted 20% against you by the time it’s gets executed.
@Martin @David @George