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No don't send your order to any exchange. The commission will be much higher. Just set your TWS as the attached file and send your order as you are sending them SMART. By the way this setting is PC dependant. So if you have two PCs, and set this in one and trade on the second one, you won't get...

For combo orders for stocks that don't move fast maybe it is better to put the orders leg by leg. Put both orders leg by leg at the lowest price and when one leg gets executed in your fav price , then go and and modify the second leg a little so it gets filled. This way you also have a chance of...

You don't direct your order to any exchange. You just set your TWS to highest rebate and then trade as you are transmitting your order in SMART. I am stingy and frugal in paying commission but don't risk in combo orders. I pay regular price in combo orders. (sometimes one leg of combo gets...

I guess combo orders are handled by MMs so they are treated differently. I don't care to pay regular price for combo orders. Let's say bid/ask are 0.1/0.12. If I want to buy I put an order to buy 0.11 or lower. If I want to sell I put an order to sell 0.11 or higher. Then I let the market...

You are right. SMART routing is a little bit faster and I studied it a lot (through my hundreds trading). I came to the conclusion that for the kind of trades that I do, my highest rebate setting is the best. I set my price and if it hits it I will get it and if it does not, I will wait. I trsut...

That $92 commission is for 79 x2 contracts (combo order)which is about 0.61 per contract. Still cheap.

I only trade options for stocks. I don't trade futures. To set your account for highest rebate, click on configure, secelct smart routing and then select "highest rebate" for options strategy. Here is my today's trades so far. You see that my first order was a market order so I did not save but...

Great question. You are both right and not right. The case that you mentioned might happen when your first order will get executed before your second new order based on your order price. Let's say your first order is to buy an option for $5 and then you decide to lower your price to $4.8. In...

Let's say you have $5000 cash or margin to trade and you want to buy some calls at $5 per contract. You put an order to buy 8 contracts at $5 which will use $4000 of that $5000. Then you see that the bid/ask are 5.10/5.20. You are willing to buy at 5.15. Then you put a new order to buy 8...

This is the common IB commission rate. If you set your account correctly " set it to highest rebate" even if you trade two contracts a month, you will get my rates. Most of the times for 2-3 cent options, you get paid instead of paying (rebate is more than commission. All things said, there are...

Good question. My cancellation fee for YTD is about $2. My YTD commission is about $6000. Here are some tricks to avoid cancellation fee. 1- Combo orders don't have cancellation fee but you don't get good commission on combo fee (you get standard fee). so you can modify combo orders as many...

If you check the attachment, I did 30 contracts and I paid only 0.44 in total. I did 128 contracts and I paid only $1.26. I am serious any broker that has lower commission, I will pay $5000 for the finder and I will switch. I won't accept Joe's promise on the phone about the commission. That...

Most of my orders gets executed in NASDAQ as I changed my order execution setting from Smart to Highest rebate so almost 80% of my trades are executed in NASDAQ so I get 0.44 rebate for each contract. When the commission is 0.7 plus about 0.04 fee, I pay 0.74-0.44. When the commission is 0.5...

It feels the same at the middle and the end too:(

Go to this link and on page 12 check out my trade attachment which shows the commissions in IB. This is not a day incident. I can send you my commission list for any day that you want. If you find any broker which claims he can match this commission, I will send you a box of very expensive...

Check out my trades today and the commissions that I paid in IB. If any broker can can offer me better commission (at least 20% lower) I would consider it.

Add at least $1B profit the first day of FB IPO for Morgan Stanley, JPM and GS. $1B each. You make billions, you lose billions.