IBKR reserves the right to reject any IBKR Lite order

Maverick2608 · Jan 11, 2020

ET180 said:
For limit orders, I'll get filled at the same price as the commission brokers.

I also believe that to be the case. Unfortunately I do not have access to zero commission brokers. It would have been quite easy to test.

Maverick2608 · Jan 11, 2020

d08 said:
That will be great for customers but not for IB. I would love to route some of the auction orders commission free though. Right now I pay way too much.

You can get half the way at tastyworks (OnOpen).

d08 · Jan 11, 2020

Maverick2608 said:
You can get half the way at tastyworks (OnOpen).

Tastyworks seems like crap to me. Never looked if they even have an API, I doubt it's anything close to what IB has.
I'm still surprised there are so few players in this segments when it comes to automated traders. IB earns a buttload from API traders and there's almost no competition. Everyone tries to lure the average Joe with their "pretty" platform, for which API traders don't care about.

Maverick2608 · Jan 11, 2020

d08 said:
Tastyworks seems like crap to me. Never looked if they even have an API, I doubt it's anything close to what IB has.
I'm still surprised there are so few players in this segments when it comes to automated traders. IB earns a buttload from API traders and there's almost no competition. Everyone tries to lure the average Joe with their "pretty" platform, for which API traders don't care about.

I love the freedom that comes with being a trader. But I have grown extremely dependent on IB and I don’t like being dependent. What the few alternatives for EU residents have a in common is low equity and no real advantages. Except for Schwab if you live in Germany, UK, Switzerland or Spain.

Maverick2608 · Jan 11, 2020

d08 said:
Tastyworks seems like crap to me. Never looked if they even have an API, I doubt it's anything close to what IB has.
I'm still surprised there are so few players in this segments when it comes to automated traders. IB earns a buttload from API traders and there's almost no competition. Everyone tries to lure the average Joe with their "pretty" platform, for which API traders don't care about.

https://alpaca.markets/

Low equity though.

qwerty11 · Jan 11, 2020

helpme_please said:
What is meant by OnClose or OnOpen US listed stock orders?

like the words say?

Shadetree42 · Jan 11, 2020

Can you switch back and forth without any issues? Is Portfolio Margin avail. in Lite?

GregorySG9 · Jan 11, 2020

Maverick2608 said:
I love the freedom that comes with being a trader. But I have grown extremely dependent on IB and I don’t like being dependent.

Exactly same! I've tried for 5 years to find something equivalent but haven't found yet.

taowave · Jan 11, 2020

Profitable

Cdntrader said:
how is "non-retail trading behavior" defined?

schizo · Jan 12, 2020

Maverick2608 said:
"...free for IBKR Lite clients so long as the order does not exceed 10% of an account's monthly US stock trading volume, otherwise your account will be charged USD 0.005 per share."

Why would they restrict your trading to only 10% when they're being paid for selling your order flow? Wasn't that the reason why they moved to the free-commission model?