Odd-lot order placement eliminated by IB!!! Please take the poll!

Discussion in 'Order Execution' started by maos, Dec 6, 2006.

Do you need the ability to place odd-lot orders?

  1. Yes!

    60 vote(s)
  2. No

    22 vote(s)
  1. maos


    As of today IB has eliminated the ability to place odd lot orders for US markets which makes money management on smaller accounts impossible.

    If you want the ability to place odd-lot orders via IB reinstated please vote.

  2. I´d say they make a distinction between offering most professional services for round lots, and still offer odd lots without the bells and whistles (maybe just handled by timber)
  3. ddunbar

    ddunbar Guest

    I think IB doesn't like to deal with small accounts. What really is in it for them? Consider how low commissions are and all the services they don't charge for which others do.

    And note, they don't pay interest on funds <$10K.

    Just further proof that they don't want "piker" accounts.
  4. do foliofn or share builder

    allow odd lots for low commision ?
  5. Anything on their web site to back that up?
  6. maos


  7. just21


    If IB did not want small accounts then they just have to raise the minimum deposit for opening an account.
  8. IB is probably tired of 5 and 10 share orders...

    I don't blame them.

    IB is for traders, not small time pikers...

    Off you go, you pikers!
  9. sprstpd


    Does your explanation make any sense?

    $1 minimum commission at IB means a 5 or 10 share order costs $1 regardless. IB, precentagewise, should make more on an odd lot order than other types of orders (assuming they don't route these type of orders to a place like ARCA which overcharges for them).

    Odd lots can be useful for risk control. If you were a trader, you would know that.
  10. sprstpd


    By the way, IB as of yesterday unrolled the odd-lot execution change. You can submit odd lot orders now. So I'm not sure this poll has any relevance now.
    #10     Dec 7, 2006