Does IB negotiate commissions?

R1234 said:
I was paying approx that same monthly amount at IBKR institutional. I asked them multiple times and they said it is what it is. So I moved almost all my money to Fidelity and Schwab where it is zero commission for all participants.

If they want to keep their customer base, they need to wake up and realize there are lots of free alternatives now.
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Do they pass through exchange rebates? Can you trade auctions and/or direct route? Both offer API?

I tried emailing Schwab institutional just now, unfortunately it said there was an error submitting the email form so not sure if it went through. Tried again with different browser and same thing. Might have to phone them..
 
cruisecontrol said:
Do they pass through exchange rebates? Can you trade auctions and/or direct route? Both offer API?

I tried emailing Schwab institutional just now, unfortunately it said there was an error submitting the email form so not sure if it went through. Tried again with different browser and same thing. Might have to phone them..
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You can do closing auction no problem. For opening auction it is on a best efforts basis. I ran side by side with IBKR for some time and the OPG fills were identical.
 
With the "asset management," oriented firms volume may not be as important as assets or ancillary relationships like running your corp ESOP or 401(K). Vanguard and Fidelity have - for years - published their metric for no cost trading.
 
d08 said:
Free isn't really free. Sounds like you don't measure execution.

They'd rather would need to keep traders in tiers, so that every month isn't like I'm just another new customer. I can't remember the last time I went below 300k per month, yet I start in the bottom tier every time. Loyalty and consistency should count for something.
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I agree. I don't mind their commission structure (with some routing tweaks, I rarely pay more than 15-20 cents/100-share order), but it'd be nice if there was some grandfathering into the lower commission tier. Maybe if you ended the last month in a lower tier, you'd continue on that tier for the first week of the new month, and if you hit 35% of the tier requirement in that first week, you continue in that tier for the remainder of the month.
 
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d08 said:
Free isn't really free. Sounds like you don't measure execution.

They'd rather would need to keep traders in tiers, so that every month isn't like I'm just another new customer. I can't remember the last time I went below 300k per month, yet I start in the bottom tier every time. Loyalty and consistency should count for something.
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you pay $300k commission each month?
 
hafez50 said:
My friend trades 100k a day vol and was with IB for 15 years. he moved to schwab 6 months ago and said the free commissions and platform is awesome and he gets prices improvement with mkt orders 90% of the time
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Does Schwab have api access?
 
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