Question RE: offsetting cancellation fees w/ IB

Discussion in 'Retail Brokers' started by Option Trader, Aug 25, 2008.

  1. If I have a partial fill & cancel the rest of the order, presumably that counts as an offset versus cancellations (i.e. according to their formula of a maximum of $1.25 offsetting limit per order, etc.)

    In the same way, if I have a partial fill today on a GTC order, and a partial fill tomorrow, does that count as two offsets?
     
  2. What, nobody uses IB anymore?
     
  3. jagmot

    jagmot

    I have never understood the offset cancellations myself. I haven't bothered as I never have gone over $10 in cancellation fees on a monthly basis.

    I also only use day orders on option trades.

    With the amount of volume I trade, I just add any cancellation fees to the ultra low commissions and still have ultra low commissions.
     
  4. I can have as many as 50-100 cancellations per week--and I dont think I'm the only one.

    Does IB still interact on this board?