Odd-lot order placement eliminated by IB!!! Please take the poll!

Do you need the ability to place odd-lot orders?

  • Yes!

    Votes: 60 73.2%

  • No

    Votes: 22 26.8%
  • Total voters
    82
M

maos

As of today IB has eliminated the ability to place odd lot orders for US markets which makes money management on smaller accounts impossible.

If you want the ability to place odd-lot orders via IB reinstated please vote.

Quote from IBj:


IB ... It was our opinion that more clients will benefit by our efforts to improve our routing and other algorithms than on supervising odd-lot trader practices. So we eliminated opening odd-lots for US markets ...

Enough people are complaining about this that we are reconsidering. It is likely we will roll back the change and examine more carefully the way odd lot orders are being used by our clients and then decide whether to re-deploy the odd-lot restriction.
More...
 
I´d say they make a distinction between offering most professional services for round lots, and still offer odd lots without the bells and whistles (maybe just handled by timber)
 
I think IB doesn't like to deal with small accounts. What really is in it for them? Consider how low commissions are and all the services they don't charge for which others do.

And note, they don't pay interest on funds <$10K.

Just further proof that they don't want "piker" accounts.
 
IB is probably tired of 5 and 10 share orders...

I don't blame them.

IB is for traders, not small time pikers...

Off you go, you pikers!
 
Quote from version77:

IB is probably tired of 5 and 10 share orders...

I don't blame them.

IB is for traders, not small time pikers...

Off you go, you pikers!
More...

Does your explanation make any sense?

$1 minimum commission at IB means a 5 or 10 share order costs $1 regardless. IB, precentagewise, should make more on an odd lot order than other types of orders (assuming they don't route these type of orders to a place like ARCA which overcharges for them).

Odd lots can be useful for risk control. If you were a trader, you would know that.
 
By the way, IB as of yesterday unrolled the odd-lot execution change. You can submit odd lot orders now. So I'm not sure this poll has any relevance now.
 
You must log in or register to reply here.
Back
Top