Quick question on IB options spread cancellation fees

[Nasdaq5048]

When i modify/cancel a spread order with 2 contracts (eg a bear put spread), does that count as 1 cancel ($1.20) or 2 cancel ($2.40)?

 

[ssmegner]

Why not use a broker like thinkorswim that doesn't charge all these fees?

 

[daniel5198]

if you want a reliable reply, send a ticket to IB. you will get an accurate reply (in a year or two...)

 

[yucca_mtn]

IB doesn't charge to modify spread orders. For example to change the number of contracts or the price. They do charge to cancle orders. One can get around that by setting a price that is unreasonable, then the order expires unfilled, with no charge.

 

[wenzi]

IIRC, they don't charge for SMART routed orders. If you send your orders to a specific exchange, you may have their fees.

Quote from yucca_mtn:

IB doesn't charge to modify spread orders. For example to change the number of contracts or the price. They do charge to cancle orders. One can get around that by setting a price that is unreasonable, then the order expires unfilled, with no charge.

 

[jagmot]

Quote from Nasdaq5048:

When i modify/cancel a spread order with 2 contracts (eg a bear put spread), does that count as 1 cancel ($1.20) or 2 cancel ($2.40)?

I still haven't figured out why I get charged sometimes. Been with IB since 2001 although the policy was implemented in 2004 or 2005.