Recent content by PatrickStandford

I had not seen that. So while not fraudulent, it remains one of the slimiest fine-print practices I have seen. Who else "rounds" up from $1.01 to $2.00 to charge you twice the fee they list? No one that I know of. I happen to like IB overall, but this policy is just robbery.

They were made aware of it months ago, yet did not respond and continue to engage in the practice.

How much would expect to pay in borrow fee for a $1.01 stock with a listed rate of 5%? Your first guess might be 5% of the position value. If you're a customer of IB, you'd be off by a factor of nearly 100%. When calculating the daily borrow fee, they round each security UP to the next...