API fees for Interactive Brokers

[copodon]

Is anyone here using NT to trade equities with IB? I am trying to figure out the add'l fees for entering/modify/canceling orders. I went to the site and saw the following:

Cancel Order Type
Modify Orders Fees or
Cancel of Modify Fees
Execution Credit *

US Direct API stock orders (does not apply to US smart API orders)
USD 0.12/Cancel or modify order
USD .24/API directed execution

so I take this to mean for every order i cancel/modify there is a .12 cent fee, but I get a credit of .24 cents for each execution. But if I use smart as my defualt route there is no fee? Am I reading this correctly?

I did a search on the board but I didn't come up with anything, if anyone could clarify this for me I would appreciate it.

[NinjaTrader_Ray]

I believe that is correct. NT use the Smart route as default for equities unless you purposely want to change this.

[StockStalker]

Is this still valid? Does NT still use smart routing for IB?

[NinjaTrader_Vincent]

Hi,

Yes, this is still valid. Nothing has been changed.

[sf631]

Related question(s):

(1) Does this mean I can access the TWS algos (like accumulate/distribute, iceberg, etc...) easily within NT's auto-trading?
(2) If I use a pegged to primary (REL) order type in TWS, and the "limit" price continues to move around (as the inside bid/ask move) does that count as a modified order?

Thanks. Small charges but they could REALLY add up on a long passive order fill.

[NinjaTrader_Vincent]

Hi,

Unfortunately both can not be accessed.