with IB, if you want to send direct API orders, they charge 0.0075/share with minimum 1 dollar per order, plus 0.01 per order cancellation+modification. it is very expensive to send direct api orders.
You can configure it so that it only sends to exchanges. It’s not optimal, but a good compromise.Smart routing may be slower initially
Why not simply trade with Lightspeed or the like instead?Specially for stocks with less liquidity, execution is too slow
I can get better fills on some exchanges that is why sometimes I choose to pay extra feesCan’t he use Smart routing at Interactive Brokers and not pay extra fees?
Smart routing may be slower initially, but can’t you adjust orders later, after IB already sends them to exchanges?
And wouldn’t this depend on strategy, I mean be usable to some people even when not useful to you?
Same with options, I get fills on my favorite Exchanges quicker when bidding and offering while others just seem to sit. Stocks posted on certain Exchanges sit too, routing correctly is key if the orders are time sensitive.I can get better fills on some exchanges that is why sometimes I choose to pay extra fees