IB unbundeled question.

T

tickmagnet

Ok, I don't get it.If I trade up to 5000 shares , it's better to use
unbundeled option right? But, how much is the commission ,
say on 2000 ,3000 shares. It says .0035 + fees=? how much in fees?

Thank You
 
Quote from tickmagnet:

Ok, I don't get it.If I trade up to 5000 shares , it's better to use
unbundeled option right? But, how much is the commission ,
say on 2000 ,3000 shares. It says .0035 + fees=? how much in fees?

Thank You
More...

Change the commission plan and see by yourself. ISE gives you the best rebates for your LIMIT orders but fills are not that great. Try ISLAND or ARCA routing if you are scalper or top/bottom fisher.

Rates will make sense only if 80-90% of your orders are LIMIT buy/sell.

Best of luck.
 
In most cases (practically all) unbundled is cheaper, also if you execute only few trades per month. So anyone should turn it on.
 
I was wondering the same thing myself. It seems on many of the exchanges, you actually get a rebate by being a "liquidity provider". From reading the description IB has on their page, it sounds like you are a liquidity provider if you use an order that won't immediately execute at the bid/ask. Is that correct?
 
Thinking out loud here, so please correct me if I'm wrong:

Stop Order => Market order when executed so remove liquidity.
Stop-Limit => Limit when executed => add liquidity.

So it seems that unbundled is the way to go: IB price is $0.035/share but you get -$0.027 back for liquidity (assume ARCA, but most look the same).
So it looks like you will mostly get $0.012/share fee versus $0.05/share if you go unbundled and use limit orders.

Is there still the $1 minimum on the commission?

Thanks,
 
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