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Old 06-03-2018, 12:22 AM   #1
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Interactive Broker Commission/Brokerage Fee

Hi guys! I was thinking of opening an IB account since I heard that it has a lower comms rate as compared to other brokers. just wish to get more information from you people here.

I understand that there is a Monthly Comms of $10USD. But i wish to know what are the rates for each trade for the US Stocks? I saw on web it was $1USD but i just wish to confirm with the people here who are using that platform!

Thanks in advance!

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Old 06-03-2018, 05:52 AM   #2
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There's a thread right in Money Mind for this:
https://forums.hardwarezone.com.sg/m...g-4053471.html

Yes, it appears that minimum commission is USD $10.
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Old 06-03-2018, 08:00 AM   #3
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Must trade more per month?
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Old 06-03-2018, 08:07 AM   #4
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Got minimum trade.

https://forums.hardwarezone.com.sg/m...g-4053471.html

I didn't join, so not sure how it works.
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Old 06-03-2018, 08:13 AM   #5
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if need to worry about trading cost, chiu are not suitable to trade, as simple as that.

just like owning a car and need to worry about the running cost, better take BMW.
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Old 06-03-2018, 08:22 AM   #6
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I think is more suitable for those who do more trade. Most of the time I didn't do much trade. So sticking to local brokerage.
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Old 06-03-2018, 08:52 AM   #7
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Hi guys! I was thinking of opening an IB account since I heard that it has a lower comms rate as compared to other brokers. just wish to get more information from you people here.

I understand that there is a Monthly Comms of $10USD. But i wish to know what are the rates for each trade for the US Stocks? I saw on web it was $1USD but i just wish to confirm with the people here who are using that platform!
I think some of these are partial fills, but I pulled my trading records for this year to date and I'm averaging about 40-50 US cents per trade for US equities, 30 cents per trade for US equity options, and $2 a trade for US futures.

Things that might make a difference: I'm on tiered pricing; I usually add liquidity; and I always use IBKR's smart-router instead of routing to a specific exchange.

if need to worry about trading cost, chiu are not suitable to trade, as simple as that.
I'd disagree with that. The more often you trade, the more you care about cheap brokerage and good execution, no?
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Old 06-03-2018, 02:01 PM   #8
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I think some of these are partial fills, but I pulled my trading records for this year to date and I'm averaging about 40-50 US cents per trade for US equities, 30 cents per trade for US equity options, and $2 a trade for US futures.

Things that might make a difference: I'm on tiered pricing; I usually add liquidity; and I always use IBKR's smart-router instead of routing to a specific exchange.



I'd disagree with that. The more often you trade, the more you care about cheap brokerage and good execution, no?
I was looking at the Tiered Pricing. They were saying that for US stocks, it will be priced at 0.0035USD per share.

So example if i were to have buy 1000units and sell 1000 units in that month, does it means that my commission will be $7USD, adding on a $10USD charge monthly which means my total comms for that month will be $17USD?

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Old 06-03-2018, 02:16 PM   #9
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I'd disagree with that. The more often you trade, the more you care about cheap brokerage and good execution, no?
kinetic shu shu is probably referring to the SSI warriors that constantly ask questions about minor things but are too scared to buy anything.

i find that ARCA gives me the lowest commissions.

I am very suspicious about exchanges like ISLAND. I have been routed there before and hammered with much higher commissions. The only explanation for my higher comms in some of these exchanges s that they somehow managed to convert me from a 'maker' into a 'taker', eg: by orders vanishing and suddenly i become a taker.
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Old 06-03-2018, 02:35 PM   #10
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So example if i were to have buy 1000units and sell 1000 units in that month, does it means that my commission will be $7USD, adding on a $10USD charge monthly which means my total comms for that month will be $17USD?
No. The US$10 is a monthly minimum commission. If you have US$7 of commissions for the month, then (assuming your total account value is below US$100,000) you will be charged...US$10, the monthly minimum.

You are charged the monthly minimum (only) or your total commissions for the month, whichever is higher. But not both.
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Old 06-03-2018, 02:40 PM   #11
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No. The US$10 is a monthly minimum commission. If you have US$7 of commissions for the month, then (assuming your total account value is below US$100,000) you will be charged...US$10, the monthly minimum.

You are charged the monthly minimum (only) or your total commissions for the month, whichever is higher. But not both.
is it worth to pay for this min 10/mth fee?
assuming trading one or twice a month.
and also , how close is the spread from XE.com for USDSGD?
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Old 06-03-2018, 03:21 PM   #12
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if need to worry about trading cost, chiu are not suitable to trade, as simple as that.

just like owning a car and need to worry about the running cost, better take BMW.
True... its always good to have more people who more willing to pay and less calculative, keeps economy running and very good for business owners
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Old 06-03-2018, 03:25 PM   #13
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True... its always good to have more people who more willing to pay and less calculative, keeps economy running and very good for business owners
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Old 06-03-2018, 04:11 PM   #14
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Just in case you wish to trade stocks on SGX, there are local brokerages pricing even lower than IB, the latter costing 0.08% for fixed and 0.02% for tiered, if you are "big"enough.

My last SGX trade was done at 0.001%.
csb.

pls name the brokerage.
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Old 06-03-2018, 04:17 PM   #15
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No. The US$10 is a monthly minimum commission. If you have US$7 of commissions for the month, then (assuming your total account value is below US$100,000) you will be charged...US$10, the monthly minimum.

You are charged the monthly minimum (only) or your total commissions for the month, whichever is higher. But not both.
something is wrong? if your trade commission is $7 that month, $10-7=3, so that month you only need to pay $3 but not $10

Last edited by awful999; 06-03-2018 at 04:20 PM..
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