Is IB telling the truth?

Don't blame the broker, blame the exchange. I never get good filled by NYSE, especially during open.

I stop trading stocks, and moved to emini now.
 
Quote from Bob111:

Def is from HK office,probably don't know much about US exchanges, but my experience with IB trading desk is positive most of the time. they do know stuff and they are really trying to help you.
very unlikely bust request will be honored, also-double check the fees.nasdaq can charge up to 500$ per request on top of IB fees

http://www.nasdaqtrader.com/Micro.aspx?id=ObviousErrorPolicy
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the $500 has nothing to do with some odd lot transaction.
 
да вы заеб&#107
2;ли....
трейдуны хуевы..


* Effective Monday, March 19, 2007, NASDAQ will implement a $500 fee for unsuccessful appeals of Clearly Erroneous Rule 11890 adjudications. This fee was filed with the Securities and Exchange Commission (SEC) on an immediately effective basis.
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http://www.nasdaqtrader.com/TraderNews.aspx?id=hta2007-058

http://individuals.interactivebrokers.com/en/accounts/fees/otherFees.php?p=b&ib_entity=llc
 
Quote from empee:

Hi,

I have an experimental account I test strategies with. I bought a small odd lot of DGIT today at the open with a market order.

I got filled at 21.88; the official open was 20.18 and 20.59 was the HOD.

I called IB and they said odd lot orders don't get printed to tape (ok) and I get filled at whatever price is available.

My question is this true, that I can be filled this far outside the market on odd lot orders? When I have orders (not necessarily odd lot) and I get filled outside the market in my favor I always have them busted later (doesnt happen often).

I've never had a broker try to justify a fill like this, and am curious if its IB or if its legit.

I have to file a bust request which costs $50 regardless of what happens. They might adjust the price, cancel the order, or do nothing.

Once again, official open 20.18, HOD 20.59 my fill: 21.88.

I also bought round lot shares in another account (Scottrade) which filled at the opening print.


Thanks
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Just curious, but are you able to implement your strategy with limit orders? The difference in your fill from LOD, HOD seems like the kind of thing that happens when market orders are used pre and post market. Are you viewing level two at the time of the fill? What exact time did your audit trail show the fill? It is true that odd lots don't print, and if your stock was very thin, you may have had the first print of the day before the bid/ask spread tightened.
 
Quote from MandelbrotSet:

Wow.

You really got screwed.

I'd close the trade and stop doing business with them, post haste.

That was a trash fill if ever there was one.
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There's trash here but its not the fill.

Either you have no clue on order handling in a case like this, or you are deliberately defaming the broker.

Or you are being sarcastic.
 
Quote from wjk:

It is true that odd lots don't print, and if your stock was very thin, you may have had the first print of the day before the bid/ask spread tightened.
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Meant to say "you may have had the first fill of the day".
 
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