What's the option cancelling fee on IB?

[Subdude]

Quote from sync:

Does modifying the price of a limit order amount to canceling that order and creating a new one and thus incurring this fee?

You could think of it that way, if you'd like. It may not be implemented exactly so, but no matter - the fees for modifying orders are the same as those for cancelling.

 

[freehouse]

Quote from Subdude:

Where do you get this info? As per this, regardless of what exchange your order was placed on, you will never be charged more than $1.50 per order cancellation/modification: http://www.interactivebrokers.com/en/accounts/fees/otherFees.php?ib_entity=llc

These fees can be partially offset by execution credits. As you can tell, if you plan on making changes or cancelling your order, the best choice is to explicitly specify the exchange when placing the order, BOX or PSE being the best.

Yes, but if you directly route to any exchange, then you pay higher commissions if you get an execution.