Ib cancelation fees

are there any cancel fees for modifying/cancel an order for YM or ES minis with IB?

thx

 

My calculated guess is no since I am trading futures at IB ( other than YM & ES) and I was never charged any mod/can fees.

 

Yes!

Very much so. They charge $100 per cancelation and bill you annually.

I know of a fellow that had trigger happy fingers and he got a bill at year end for $35,000.

Honest.....

 

was he cancelling the orders via phone to the desk??

i do not believe they charge for cancelling orders of their platforms

 

i called ib- they said only cancelations on option trades

 

Exactly.

However, the only orders I cancel are the ones that go against me - so in the long run, I save money.

 

Anyone who takes that seriously for even a second is a moron.

 

I believe also API initiated directed (not smart routed) equity orders...