36% per annum for fees on Forex trading with IB ?

TrAndy2022

TrAndy2022

Hello,
I recently started trading an IB account with Forex trading on it. But I noticed their interest accrual fees which should be swap fees just in other terminology from other brokers are insane high. They deduct me 3% of my entire portfolio account for interest fees here when I trade some Forex with them. On the same I do copy trading on IC Markets and I get only a fraction of 8% of that fees so 0.24% in total per month for swap fees or interest accruals how IB says for that. Anyone knows how they do the calculation ? I simply do not get it when I make the same trades and lot sizes on IB and I get two third less returns in net profit at the end of month when I compare same exact trades on IC Markets. As I do copy trading here everything is exact here so I can compare the fees. But how can IB charge more than 12 times higher fees than any other reputable broker here for Forex trading ? Please explain it to me. Or is this the latest bugh with IB ?
 
traider said:
use currency futures if you don't wish to get raped
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I cannot trade minors there, only majors. I need to trade more forex pairs than what is offered for currency futures, any other idea or explanation please ? Thanks.
 
1. Learn proper English to express what you are actually trying to say. Or say it in your native language and let algorithms translate. It's completely unclear what you try to say. Not trying to be condescending, I am a non native speaker myself.
2. All the information is a google search away.
3. You can't get around some basic agreed terminology. Unless you are solid on terms don't use them because words have meaning.

https://www.interactivebrokers.ca/en/index.php?f=45266

I can absolutely assure you that you pay lower fees at IB than at IC markets.

TrAndy2022 said:
Hello,
I recently started trading an IB account with Forex trading on it. But I noticed their interest accrual fees which should be swap fees just in other terminology from other brokers are insane high. They deduct me 3% of my entire portfolio account for interest fees here when I trade some Forex with them. On the same I do copy trading on IC Markets and I get only a fraction of 8% of that fees so 0.24% in total per month for swap fees or interest accruals how IB says for that. Anyone knows how they do the calculation ? I simply do not get it when I make the same trades and lot sizes on IB and I get two third less returns in net profit at the end of month when I compare same exact trades on IC Markets. As I do copy trading here everything is exact here so I can compare the fees. But how can IB charge more than 12 times higher fees than any other reputable broker here for Forex trading ? Please explain it to me. Or is this the latest bugh with IB ?
More...
 
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