Interactive Brokers - SGD now available for funding - Part 2

[mousepad_88]

I know that I can see the performance of my portfolio under portfolio analyst report however may I know how do I check what is my forex adjusted return of my portfolio as my base currency is in USD? Basically ,I will like to know if converted back to SGD, what is my portfolio performance like .

 

[Eternit]

Hi guys, since many mentioned that IBKR has good FX rate close or equal to spot rate, can I use it as a "money changer"? i.e. deposit SGD into IBKR, exchange to USD, then transfer that USD to DBS multicurrency or standchart USD$saver account?

 

[highsulphur]

Hi guys, since many mentioned that IBKR has good FX rate close or equal to spot rate, can I use it as a "money changer"? i.e. deposit SGD into IBKR, exchange to USD, then transfer that USD to DBS multicurrency or standchart USD$saver account?

Some here has pointed that such activities have been flagged by ibkr as "undesirable". Not sure what were the consequences

 

[reddevil0728]

Some here has pointed that such activities have been flagged by ibkr as "undesirable". Not sure what were the consequences

If not wrong they can close your account if do it too frequently

 

[highsulphur]

If not wrong they can close your account if do it too frequently

Even if you have existing portfolio?

Not sure if you have a sizeable portfolio, they will overlook such fx transactions

 

[reddevil0728]

Even if you have existing portfolio?

Not sure if you have a sizeable portfolio, they will overlook such fx transactions

i think if there's active trades vis-a-vis the number of fx conversion then should be ok. but this is still a hypothesis.

 

[highsulphur]

i think if there's active trades vis-a-vis the number of fx conversion then should be ok. but this is still a hypothesis.

To close an account might be extreme if you have a substantial holding with them

 

[reddevil0728]

To close an account might be extreme if you have a substantial holding with them

hence it's about volume and frequency lor.

depends whether want to push the limit to test

 

[Arandalo]

Any experts can advise why is it that the commission and fees for selling is usually higher than buying? Shouldn't it be the same if the number of shares bought and sold is the same?

Specifically for US stocks and I am on fixed pricing plan on IBKR SG.

I tried to reconcile by looking at the buying and selling price (buy low sell high or buy high sell low) and the exchange used (ARCA/DARK/ISLAND) but I still cannot seem to make sense of it.

 

[highsulphur]

Any experts can advise why is it that the commission and fees for selling is usually higher than buying? Shouldn't it be the same?

Specifically for US stocks and I am on fixed pricing plan on IBKR SG.

I tried to reconcile by looking at the buying and selling price (buy low sell high or buy high sell low) and the exchange used (ARCA/DARK/ISLAND) but I still cannot seem to make sense of it.

Has to be the same

 

[Arandalo]

Has to be the same

Not in my experience for US stocks on US exchange. Around 90% of the time the commission and fees for selling is higher than buying. For UK stocks on UK exchange (LSE) the commission and fees for selling is reversed, slightly lower for selling than buying.

I did some further research for US stocks on US exchange, and seems that it could be due to the following fees which are apparently charged only when selling and not when buying.
1) SEC Transaction Fee
2) FINRA Trading Activity Fee

Perhaps others could chime in?

 

[reddevil0728]

Any experts can advise why is it that the commission and fees for selling is usually higher than buying? Shouldn't it be the same if the number of shares bought and sold is the same?

Specifically for US stocks and I am on fixed pricing plan on IBKR SG.

I tried to reconcile by looking at the buying and selling price (buy low sell high or buy high sell low) and the exchange used (ARCA/DARK/ISLAND) but I still cannot seem to make sense of it.

Any reason why you don’t use tiered?

 

[Arandalo]

Any reason why you don’t use tiered?

I usually trade more than 150 shares per trade.

 

[reddevil0728]

I usually trade more than 150 shares per trade.

You have compared it’s cheaper to do fixed with that?

 

[Arandalo]

You have compared it’s cheaper to do fixed with that?

Yes fixed pricing plan is cheaper than tiered for US stocks above 150 shares.

https://www.bankeronwheels.com/ibkr-fixed-vs-tiered/

 

[reddevil0728]

Yes fixed pricing plan is cheaper than tiered for US stocks above 150 shares.

https://www.bankeronwheels.com/ibkr-fixed-vs-tiered/

Hmmm have you actually tested it yourself?

Do you have an example of a counter you frequently trade?

 

[jinsatkilife]

Not in my experience for US stocks on US exchange. Around 90% of the time the commission and fees for selling is higher than buying. For UK stocks on UK exchange (LSE) the commission and fees for selling is reversed, slightly lower for selling than buying.

I did some further research for US stocks on US exchange, and seems that it could be due to the following fees which are apparently charged only when selling and not when buying.
1) SEC Transaction Fee
2) FINRA Trading Activity Fee

Perhaps others could chime in?

sometimes u get rebate for posting liquidity. Can set ur order routing to maxrebate

dont forget gst

anyway if ur not active trader, commission shouldn't affect much

 

[Arandalo]

sometimes u get rebate for posting liquidity. Can set ur order routing to maxrebate

dont forget gst

anyway if ur not active trader, commission shouldn't affect much

I trade quite often so it will be significant as time goes by. Just some of my trades below and the commission and fees.

200 shares buy was $1.01 and sell was $1.99
300 shares buy was $0.64 and sell was $2.60

That is like 97% to 306% more for commission and fees for selling. I can understand if fees varies by a bit but it doesn’t seem to make sense for it to vary so much, even when factoring in liquidity rebates?

 

[jinsatkilife]

I trade quite often so it will be significant as time goes by. Just some of my trades below and the commission and fees.

200 shares buy was $1.01 and sell was $1.99
300 shares buy was $0.64 and sell was $2.60

That is like 97% to 306% more for commission and fees for selling. I can understand if fees varies by a bit but it doesn’t seem to make sense for it to vary so much, even when factoring in liquidity rebates?

I suggest you approach ibkr support ticket to help explain

I use tier system, not fixed. But if u add buy n sell commission to find round trip fees, seems logical

I do know sometimes if ur volume is big enough, ur fees are smaller. That's the incentive brokers give to big volume institution trader

I only noticed big jump in fees ever since there was 9% gst on commissions for LLC clients 1+ year ago

If u provide liquidity instead of taking liquidity, then the rebates will make big differences. So for ur trades, idk if u hit the bid when selling for ur order execution or just post limit order n wait for price to hit u

 

[Arandalo]

I suggest you approach ibkr support ticket to help explain

I use tier system, not fixed. But if u add buy n sell commission to find round trip fees, seems logical

I do know sometimes if ur volume is big enough, ur fees are smaller. That's the incentive brokers give to big volume institution trader

I only noticed big jump in fees ever since there was 9% gst on commissions for LLC clients 1+ year ago

If u provide liquidity instead of taking liquidity, then the rebates will make big differences. So for ur trades, idk if u hit the bid when selling for ur order execution or just post limit order n wait for price to hit u

I have contacted IBKR support and got a concise response. In essence, there is indeed more fees incurred when selling mainly due to SEC Transaction Fee (which I highlighted in bold below), and it is noticeable only when the value of the trade is large.
SEC Transaction Fee falls under Regulatory Fees which are chargeable regardless of tiered or fixed pricing plan.

A very simple test that one can do to verify is by entering a test order and then click on preview for the Commissions & Fees (est.).
When you buy and sell a low number of shares like 1 to 5 which also translates to a low trade value, the buy and sell commission and fees is either the same or differs by just a few cents.
However when you buy and sell a higher number of shares like 100 to 200 which in turn translates to a high trade value, it becomes very apparent that the selling fees are higher.

Dear XXXX,

It was a pleasure to speak with you today!

Please be advised that you had a Fixed Rate Pricing structure set for Securities at the time both trades were executed.
The minimum commission per order under the Fixed pricing structure is 1.00 USD.
However, there are also Regulatory fees applied that you need to take in consideration.

Regulatory Fees include:
- SEC Transaction Fee: USD 0.0000278 * Value of Aggregate Sales
- FINRA Trading Activity Fee: USD 0.000166 * Quantity Sold
- FINRA Consolidated Audit Trail Fees: USD 0.000035 * Quantity to 0.0000469 * Quantity

UGL 2025-04-22, 15:34:31 ARCA BUY
Comm -1.01 USD Fee: -0.16 USD Proceeds -29,400.00 USD
- Execution Fee: 1 USD
- Regulatory Fee: 0.000726 USD
- Regulatory Fee: 0.000429 USD
- Section 31 Transaction Fee: 0.00 USD

UGL 2025-05-05, 14:20:15 ARCA SELL
Comm -1.83 USD Fee: -0.16 USD Proceeds 28,400.00 USD
- Execution Fee: 1 USD
- FINRA Trading Activity Fee: 0.0332 USD
- Regulatory Fee: 0.0044 USD
- Regulatory Fee: 0.0026 USD
- Section 31 Transaction Fee: 0.78952 USD

Please do not hesitate to contact us again in case you require further assistance.

Kind regards,
XXXX
IBKR Client Services