IB cancelation fees

[stevelevi]

I would like to move to IB
I am a bit confused from what I read maybe someone can explain me
Is there a fee each time I modify or cancel an order ?

 

[rwk]

I have been with IB about 5 years now. As far as I know the only fees they charge (other than their stated commission) are fees that are assessed by an exchange or regulator. So the answer is: yes, maybe.

 

[FullyArticulate]

There is a fee if you modify or cancel a stock option order. Futures options do not have a similar fee (and of course, neither do futures or stock cancel/modifies).

 

[stevelevi]

If I cancel or modify an option order 10 times a day
what it would cost me?

 

[FullyArticulate]

It varies based upon the exchange. And you get a credit for filled orders.

http://individuals.interactivebrokers.com/en/accounts/fees/otherFees.php?ib_entity=llc

 

[Option Trader]

Quote from FullyArticulate:

There is a fee if you modify or cancel a stock option order. Futures options do not have a similar fee (and of course, neither do futures or stock cancel/modifies).

Is it correct to say there are NEVER cancellation fees on IB for stocks?

 

[stevelevi]

still pretty cofusing
one more item I do not understand regarding market data
it says All coustomers recieve 100 concourent lines of real time market data. What is that?
Coming out of Cyber trader it all looks very strange
but i know I need to make a move.
thanks

 

[FCCT]

Quote from Option Trader:

Is it correct to say there are NEVER cancellation fees on IB for stocks?

Amex direct or Amex smart routed charge some fee. Naz/isd/nyse/arca no charge.

 

[sprstpd]

Quote from Option Trader:

Is it correct to say there are NEVER cancellation fees on IB for stocks?

I am pretty sure there are potential cancellation fees for stocks if you are using the API.

 

[JackR]

Quote from stevelevi:

All customers receive 100 concurrent lines of real time market data. What is that?

You get streaming quotes for 100 symbols. If you need more than 100 you cannot get them from IB by paying for them directly. You can get more by increasing your commissions. For each $8 in commissions over $800 per month you receive an additional quote.

You can change the symbols you are getting as often as you wish, you just can never get more than 100 at a time - that 100 includes indexes, advance/declines, etc.

So long as you produce $30 in commissions per month there is no charge. If you don't spend the $30 you pay $10 for the data.

On the Cancellation Fees - Go the the IB home page and type "Cancellation Fees" in the search box near the top of the page.

Jack