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Best place to trade small options account
- Thread starter RickW00716
- Start date
When I first started to use IB I put in $25K as that was what they asked for. At that time the going interest rate was about 3.5% and OptionsXpress was paying me close to that on my money.
So in a year's time I should have been paid 25000*.035 = $875
Now if I was paying $8.75 elsewhere for trades that's 100 trades. I don't make but 100 trades a year at the most. So is IB all that much of a bargain??? Not as far as I'm concerned.
Thay are just putting my money in an interest bearing account someplace and collecting that money and using it to supplement their 'bargain' fees. That's not all that much of a bargain.
So in a year's time I should have been paid 25000*.035 = $875
Now if I was paying $8.75 elsewhere for trades that's 100 trades. I don't make but 100 trades a year at the most. So is IB all that much of a bargain??? Not as far as I'm concerned.
Thay are just putting my money in an interest bearing account someplace and collecting that money and using it to supplement their 'bargain' fees. That's not all that much of a bargain.
Quote from danshirley:
When I first started to use IB I put in $25K as that was what they asked for. At that time the going interest rate was about 3.5% and OptionsXpress was paying me close to that on my money.
So in a year's time I should have been paid 25000*.035 = $875
Now if I was paying $8.75 elsewhere for trades that's 100 trades. I don't make but 100 trades a year at the most. So is IB all that much of a bargain??? Not as far as I'm concerned.
Thay are just putting my money in an interest bearing account someplace and collecting that money and using it to supplement their 'bargain' fees. That's not all that much of a bargain.
And MM rates are basically 0 now with no prospect of rising anytime soon so this is pretty much irrelevant to OPs decision.
I think I received 70 cents in interest on a 6-figure cash balance last month. Gotta love QE.
And MM rates are basically 0 now with no prospect of rising anytime soon so this is pretty much irrelevant to OPs decision.
I think I received 70 cents in interest on a 6-figure cash balance last month. Gotta love QE.
70 cents... holy crap.
No its not relevant today but someday .... I hope.
I think I received 70 cents in interest on a 6-figure cash balance last month. Gotta love QE.
70 cents... holy crap.
No its not relevant today but someday .... I hope.