Each time i go to IB and turn my recent savings into ETF shares, I ask myself: what’s the optimal way to do it?
Options I see are
- simply market price vs. limit (the only one i actually know what they do)
- Destination SMART vs. IBALGO vs.others
- midprice-feature
- adaptive-feature: urgent/ normal/ patient
- any possible combination of the above
considering a purchase of abount $1k in an integer number of ETF shares, which way gives me the the least expenses for the same amount of shares? I think i consider both share price and commissions, as well as liquidity-fill-bonus and whatever else adds to the bill.
Bonus question: quantify the advantage over buying at market price 
you may assume anything, put point it out
[Edit: yes, solely US Vanguard funds. with market order paying mostly between 30 and 40 $cents per trade]