Hi,
I am using MC to do auto trades in IB. But I found the transaction fee fluctuates big time. Sometimes, auto trading of 1000 shares only costs $2.x while sometimes same trade costs $10. More interesting, yesterday a trade of 1000 shares with ARCA costs $2.x while today the exactly same trade with ARCA costs $10.
I try to figure out what is the best configuration in Symbol Mapping or other ways to save transaction fee. Does anyone have any idea? Names like SMART, ARCA, BATS etc, which ones have more chance to give cheap fee? and what are the best sequences of them?
Thanks a lot
IB transaction fee
- JoshM
- Posts: 2195
- Joined: 20 May 2011
- Location: The Netherlands
- Has thanked: 1544 times
- Been thanked: 1565 times
- Contact:
Re: IB transaction fee
I think you might better contact Interactive Brokers directly, since while skimming I couldn't find a situation where the costs of 1000 shares is $10 dollar (with either fixed and tiered commissions).I try to figure out what is the best configuration in Symbol Mapping or other ways to save transaction fee. Does anyone have any idea? Names like SMART, ARCA, BATS etc, which ones have more chance to give cheap fee? and what are the best sequences of them?
If you follow those links, you can also see which exchange fee applies to the likes of ARCA and BATS.
For more on SMART, see SmartRouting and Configure SmartRouting.
- TJ
- Posts: 7740
- Joined: 29 Aug 2006
- Location: Global Citizen
- Has thanked: 1033 times
- Been thanked: 2221 times
Re: IB transaction fee
PLease confirm with IB for detail.
IIRC...
You are allowed a certain number of amendments per order.
If the order is amended over the allowed number of times, you might incur a penalty fee.
There is no additional charge if the order is not changed, not filled and expired.
There is no additional charge if the order is changed (but within the allowed number of times), not filled and expired.
There is no additional charge if the order is changed (but within the allowed number of times), and filled.
IIRC...
You are allowed a certain number of amendments per order.
If the order is amended over the allowed number of times, you might incur a penalty fee.
There is no additional charge if the order is not changed, not filled and expired.
There is no additional charge if the order is changed (but within the allowed number of times), not filled and expired.
There is no additional charge if the order is changed (but within the allowed number of times), and filled.