New IB Customer Agreement

I think "putting it in writing" is typical of any customer service organization that is holding your funds.

This protects them from you and you from them. The written explanation means that you have no excuse not to know the rules unless you chose not to read it. The ibhelp rep may not get it right every time, and the customer may misunderstand what they say anyway.

I don't think it's just liability concerns - it's the fear of running into the guy who claims to average 5000 shares per trade and is "shopping around" for a retail broker and thinks IB is expensive. Please.

 

Okay, we seem to be on the same page until you write:

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QUOTE: I don't think it's just liability concerns - it's the fear of running into the guy who claims to average 5000 shares per trade and is "shopping around" for a retail broker and thinks IB is expensive. Please.

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Pardon me...but I don't get your inference.

Jim

 

my fault...sorry about that...

I thought Spark was here on this thread. This inference was actually to the first post on the prior thread "IB commission not cheap" which is also in the retail forum.

My point was that it's customers like him (who make such arcane statements about policies/procedures) who contribute to the need for everything to be in writing.

 

Haha.. good point.

 

i second that, after being front-run countless times by 0.1 cent improvements on ISLD, and having occasionally scared the sh*t out of the other side with my order size.

- jaan

 

What's your order size?

 

they both will be coming, in the works but don't have a date.

 

Def,

that's great news. However, to make fractional cent pricing really useful it needs to be accompanied by a configurable option in TWS that allows an offset value to be set (e.g. 0.0011) that is automatically applied to the price of every limit order (added for buys, subtracted for sells). It should also be possible to easily ovverride this without needing to reconfigure by manually entering a limit price with full precision (e.g. 50.1200 or 50.1235). I hope this is being taken into consideration.

As for reserve orders and setting of the hidden flag for ISLD orders, I hope it will be possible to enter these types of orders directly from the order line without having to pull up the ticket window.

 

up to 3k, which can be very visible on less liquid stocks.

def: thanks!

dlincke: note that for TWS API users (such as myself), the 0.1 cent pricing would be useful without any further changes to TWS.

- jaan