Quick question on IB options spread cancellation fees

Discussion in 'Options' started by Nasdaq5048, Feb 5, 2008.

  1. When i modify/cancel a spread order with 2 contracts (eg a bear put spread), does that count as 1 cancel ($1.20) or 2 cancel ($2.40)?
  2. ssmegner


    Why not use a broker like thinkorswim that doesn't charge all these fees?
  3. if you want a reliable reply, send a ticket to IB. you will get an accurate reply (in a year or two...):D
  4. IB doesn't charge to modify spread orders. For example to change the number of contracts or the price. They do charge to cancle orders. One can get around that by setting a price that is unreasonable, then the order expires unfilled, with no charge.
  5. wenzi


    IIRC, they don't charge for SMART routed orders. If you send your orders to a specific exchange, you may have their fees.

  6. jagmot


    I still haven't figured out why I get charged sometimes. Been with IB since 2001 although the policy was implemented in 2004 or 2005.