Does IB charge cancellation fees for Stock Orders

Discussion in 'Interactive Brokers' started by deadreader, Sep 4, 2003.

  1. xje

    xje

    Thanks for the reply, def. I'm not sure what you mean by "there is a credit for executions". I haven't noticed a credit in my account for option executions.
     
    #11     Sep 5, 2003
  2. def

    def Sponsor

    This is the execution credit:
    Direct Orders:
    USD 0.20/executed contract capped at USD 1.20/executed trade.
    Smart Orders:
    USD 0.25/executed contract capped at USD 3.75/executed trade.

    If you don't think you've rec'd a proper credit, send details to the help desk and they'll take a look and explain.
     
    #12     Sep 5, 2003
  3. xje

    xje

    Hi def,

    Thanks for the information. I checked my account statements and IB's FAQs after reading your post, and realized that there were indeed execution credits applied against my cancellation fees. I didn't notice this before because IB's statements do not separate the two items. Now I understand how it works.

    Thanks again,

    XJE
     
    #13     Sep 5, 2003
  4. alanm

    alanm

    As a general suggestion (and not just for IB), it would be nice if brokers, when preparing statements, would provide detail of the important parameters that were used in calculating a line item, instead of just a lump sum. The information is available - why not present it?

    Examples:
    Code:
    1:
    735 Order cancels @ 0.12        88.20
    103 Execution credits @ -0.24  -24.72
    
    
    2:
    Credit Interest: 1.500% APR, $33,268 avg. bal.     $41.59
    
     
    #14     Sep 7, 2003