Does anyone have a solution for avoiding or decreasing modification fees with IB?

I'm really not interested in some nitwit telling me to just hit the bid or lift the offer. I trade a lot of contracts (mostly in RUT but some weeklies as well) so I like to work an order a bit depending on a number of factors. Any ideas would be greatly appreciated!

 

Change brokers, or assume this is the cost of doing business at IB.

 

Are not the mod fees rebated back if the order is filled?

 

Some of the fees are but it really adds up especially if you're trading a lot of contracts. Routing directly is totally impossible if you need to work an order.

 

Trade spreads..they aren't charged the modification fees.

 

just to wrap up this convo, AFAIK, there is no way to get around this other than the solutions mentioned. trust me us et'ers have heard/done/tried them all! it is what it is.

 

please clarify

could you be talking about the 0.05 spread only contracts?

0.20 bid x 0.25 ask - no pennies in-between accepted?

marc

 

funny,
IB has just started accepting .01 increment orders [for me],
on options I wasn't previosly able to

the screen still only shows nickles,
but I got a fill at .31 cents

marc

 

I think he means option spreads - call spreads, put spreads, fences, etc. Not the bid/ask spread.

 

Marc, at which exchange did the .31 trade execute?