If I pay a fee, brokers allow cancel payment per order flow for my account ?

I don't want broker sending my order to companies like citadel or knight. Specially for stocks with less liquidity, execution is too slow

Citadel pay 0.0001 per stock. I can pay 500 USD to send all orders direct to ECN

 

with IB, if you want to send direct API orders, they charge 0.0075/share with minimum 1 dollar per order, plus 0.01 per order cancellation+modification. it is very expensive to send direct api orders.

 

Can’t he use Smart routing at Interactive Brokers and not pay extra fees?
Smart routing may be slower initially, but can’t you adjust orders later, after IB already sends them to exchanges?
And wouldn’t this depend on strategy, I mean be usable to some people even when not useful to you?

 

You can configure it so that it only sends to exchanges. It’s not optimal, but a good compromise.

But I don’t think the OP said anything about API

 

Why not simply trade with Lightspeed or the like instead?

 

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I can get better fills on some exchanges that is why sometimes I choose to pay extra fees

 

Same with options, I get fills on my favorite Exchanges quicker when bidding and offering while others just seem to sit. Stocks posted on certain Exchanges sit too, routing correctly is key if the orders are time sensitive.

 

Use brokers with ECN accounts only. Much more favorable for a trader. Currently using Fxview and XTB.