Should I be doing market orders on IBKR Pro for the best fills ?

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Will I automatically get the best fills on market orders ? Do I have to select the Price management algo, checkbox while making the market order ?

Does it also work with Limit order ?

I compared with a limit order for an option contract on CarMax, both on Robinhood and IBKR web.

Surprisingly Robinhood gave a better fill than Robinhood. It was a ratio spread with 3 option contracts and a pretty wide bud ask spread.

The limit order on IBKR for $9.15 did not get filled while Robinhood got filled. I quickly modified it to $9.20 on IbKR which got filled at $9.19.

I was bummed that IBKR with all the hype about smart routing algorithms couldn't get a better fill than Robinhood.

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allmuviz

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Posted: 1 year ago
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