IB and ECNs

Discussion in 'Retail Brokers' started by jkm, Sep 7, 2001.

  1. jkm

    jkm

    Has IB stopped charging ECN fees? Can one route to an ECN of choice?
     
  2. Turok

    Turok

    They have never charged ECN fees since I've been using them, but that has been for less then a year.

    Yes, you can route to the ECN of your choice as long as your choice is:

    Island
    Inca
    Redi
    Arca
    Brut
    Btrade

    They list MKXT, but it hasn't been functional in some time.

    There is some limited order type functionality (no hidden orders, no IOC orders) and they have made some interesting and frustrating connection choices when it comes to the "active" ECNs (Redi, Arca, Brut), but overall the speed is on par with the best.

    JB
     
  3. jkm

    jkm

    Thank you Turok. Two months ago I had seen at their web site that they charge $0.01 per share for any ECN, but their current web site does not indicate a fee for ECNs.
     
  4. Turok

    Turok

    There a was misunderstanding certainly. They did then, and do now charge 0.01 per share, but this is the total per share fee and *includes* ECN charges.

    JB
     
  5. jkm

    jkm

    This is great. I will join IB then. I do not understand why all other brokers charge astronomical prices for ECNs.
     
  6. BSAM

    BSAM


    'Cause there's plenty of people dumb enough to pay 'em!!!

    But, on your part, good choice! Overall, I believe IB is the best.

    BSAM
     
  7. kenstl

    kenstl

    I've tried the IB java demo, and there is no opportunity to decide where you'd like to send your order; the only option I've seen in the demo and the tutorial is to choose between BEST and NASDAQ. How would you send an order to ISLD or INCA???
     
  8. Htrader

    Htrader Guest

    Those options are not included in the demo, but the actual version of TWS will have all the ecns to choose from.