Is IB playing fair with their customers (new CME Cancellation Fees)?

Discussion in 'Interactive Brokers' started by Rem, May 29, 2005.

  1. That's one BIG.... AMEN to that....

    :eek: . :) . :p
     
    #11     May 29, 2005
  2. obviously, ib aint making enough just market making in the options markets, which was their bread n butter.
     
    #12     May 30, 2005

  3. No, I don't think it proves that at all.

    For JUST the ES and NQ, this would cost IB approx 800,000 a year in 'fines' if they got hit every day.

    And since so many use the api to trade, who knows, how many cancels are done. Plenty, I'd guess.

    If you can find a broker that will eat 1 million + in new fees, just to keep from riling up the natives, then let me know.
     
    #13     Jun 1, 2005
  4. svrart

    svrart

    This will certainly increase my cost.

    I trade longer time frames (weeks to months) and sometimes I enter orders and if the market doesnt behave as I expected, I cancel the order and sometimes reenter the next day or several days later. In the long run my execution to cancel ratio would be 1 to 3, but I will end up paying cancel money because there will be days when I cancel and dont execute.

    However, my second account with another brokerage doesnt seem to have this problem, so I will have to use that one for Globex trades.
     
    #14     Jun 1, 2005