Discussion in 'Retail Brokers' started by jkm, Sep 7, 2001.
Has IB stopped charging ECN fees? Can one route to an ECN of choice?
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:
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.
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.
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.
This is great. I will join IB then. I do not understand why all other brokers charge astronomical prices for ECNs.
'Cause there's plenty of people dumb enough to pay 'em!!!
But, on your part, good choice! Overall, I believe IB is the best.
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???
Those options are not included in the demo, but the actual version of TWS will have all the ecns to choose from.
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