Reducing Interactive Broker trading fees with direct routing?

Discussion in 'Learn how to trade or invest by asking questions' started by trader5566, Oct 6, 2016.

  1. trader5566

    trader5566 New Member

    Hey I've been looking at all the exchanges smart routing routes to from interactive brokers. I see a few options that I could perhaps directly route to to save on the standard $0.003/share exchange fee for taking liquidity (I do market orders at the moment).

    My questions are will these orders be executed at a decent price, or at all? Say I see a top mover like NASDAQ:ALNY which had a couple of scalp/swing trade opportunities for me today. Would I be able to select these brokers and trade directly using them and tiered pricing to reduce my fees?

    iex exchange
    Remove Liquidity 1 Add Liquidity 2
    Trades >=$1.00 USD 0.0009 USD 0.0009
    Trades < $1.00 Trade Value * 0.003 Trade Value * 0.003

    nsx exchange
    Remove Liquidity 1 Add Liquidity 2
    Trades > = $1.00 USD 0.0003 USD 0.0000
    Trades < $1.00 Trade Value * 0.003 (Trade Value * 0.0025)

    nasdaq bx
    Remove Liquidity 1 Add Liquidity 2
    ETF >= $1.00 (USD 0.0006) 4 USD 0.0020 3
    ETF < $1.00 Trade Value * 0.0010 USD 0.0000
    NASDAQ >= $1.00 (USD 0.0006) 4 USD 0.0020 3
    NASDAQ < $1.00 Trade Value * 0.0010 USD 0.0000
    AMEX >= $1.00 (USD 0.0006) 4 USD 0.0020 3
    AMEX < $1.00 Trade Value * 0.0010 USD 0.0000
    NYSE >= $1.00 (USD 0.0006) 4 USD 0.0020 3
    NYSE < $1.00 Trade Value * 0.0010

    nasdaq byx
    Remove Liquidity 1 Add Liquidity 2
    NASDAQ = $1.00 per share (USD 0.0015) USD 0.0018
    NASDAQ >= $1.00 per share, Hidden Liquidity (USD 0.0015) USD 0.0024
    NASDAQ < $1.00 per share Trade Value *.0010 USD 0.0000
    NYSE >= $1.00 per share (USD 0.0015) USD 0.0018
    NYSE >= $1.00 per share, Hidden Liquidity (USD 0.0015) USD 0.0024
    NYSE < $1.00 per share Trade Value *.0010 USD 0.0000
    AMEX >= $1.00 per share (USD 0.0015) USD 0.0018
    AMEX >= $1.00 per share, Hidden Liquidity (USD 0.0015) USD 0.0024
    AMEX < $1.00 per share Trade Value *.0010 USD 0.0000
     
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