IB customers - can you please suggest if "Cancel/Modify" fee really hurts? I was considering to sign-up with IB but guess this ridicules fee will be a deal-breaker for me. http://www.interactivebrokers.com/en/accounts/fees/cancelModifyExamples.php?ib_entity=llc - Su
Doesn't bother me because I execute far more than I cancel. But I can see how it might hurt a strategy that required many many cancels. I may be wrong, but I think that these fees are put on by the exchanges. IOW not IB's fault. IB's low commission requires that they be passed to the customer.
It appears that if you trade stocks you can use smart routing and avoid the cancellation fees and for options using smart routing will reduce your fees... if you need to meet the API trading qualification you can use Ninjatrader, Buttontrader, any of those...