Cancellation fee with IB ...

Hi,

what do you think ?

The cancellation/Modify fee are expensive.

Thinkorswim have the same price ?

 

cancellation/Modify fee are passthrough at ib.

 

http://www.interactivebrokers.com/en/accounts/fees/otherFees.php?ib_entity=llc

It's not free !!!

 

can someone explain what this means? In IB, if i place a limit order to buy/sell an es option say for 5pt, then later i adjust the limit order to 6pt or cancel the pending limit order, i get charged a fee?

 

globex is not on the list, it is for equity options not options on futures.

 

ok but is what i said true, ignoring the es option part. This doesnt seem right, for example in IB book trader, usually i like to place a limit order and move it up and down the ladder by dragging the price, so that means everytime i drag i am modifying a limit order and will get charged a fee?

 

Check your daily confirmation statement to see if they have been charging you.

The exchanges charge the broker (what at outrage this is) and IB chooses to pass that charge on to the customer.

IB is not consistent.

Sometimes they charge for cancellations, sometimes they also charge for modifications.

This applies to index options as well as for equity options.

It's not right, IMHO

Mark

 

If you get an execution, IB will give you a credit against order cancellation fees.

 

True.

But when I cancel an order, I am still charged a fee, even when I trade more than 1,000 contracts that same day.

Mark

 

You are a heavyweight.