If I send two REL orders to buy a stock with 0.01 offset amount, will my two orders compete each other? My observation is that sometimes it does and sometimes it does not. If they compete, how fast will Interactive Brokers adjust the order? Or Interactive Brokers can smartly know that the two orders come from a single account, so they should not compete each other?
That is hilarious that they might compete with eachother. I don't know the answer to your question but I'm curious why you want to have two REL orders. Simplest answer would seem to be "don't do that then"? Just guessing here but I think chances that IB does something smart automatically for this are extremely low, unless there is an obvious use case I'm missing.
Why would IB do anything when the client explicitly sent two orders instead of one!? Twice the commission if they both fill