how do u get rebates using Interactive Brokers.

Discussion in 'Order Execution' started by dontevergiveup, Jul 13, 2009.

  1. I've been using unbundled on IB and trying to get rebates and most times i don't seem to get the rebates for adding liquidity.

    I use smart and have it routed to the "highest rebate". most times it routes to island or ise.

    My commissions are cheaper then when i used bundled but i think they can go even lower.

    My limit orders that i use are above and below the bids and asks. So supposedly i am "adding liquidity" so why am i not getting compesnsated. :(

    so is there somthing else im suppose to do to get these rebates in IB for adding liquidity? im lost.:confused:

    also under presets-stocks-trigger method- it is on default if that matters.
  2. If your using it in TWS and not in an API you should be fine.
    You can route to the exchange that provide the rebate you want. I usually route to ARCA when I can.
    There is still the minimum per order of 70 cents so if you only trade 100 shares the rebate may not look big.
    Make sure you read the fines prints in their fees webpage.
  3. If there are hidden orders and you are executed against them you may be removing liquidity when you think you are adding.
  4. Occam


    You might consider whether it's worth it to try out a more "liquidity-adder friendly" brokerage such as Genesis, Assent, Lightspeed, Echo, Lime, etc.; or one of the institutional, agency-only ones (Wedbush, Neonet, Newedge, ITG, etc.) if you're an "institution".