Breaking: Interactive Brokers lite commission free

[d08]

I'm hoping we would be able to use IB Gateway instead of TWS maybe.

Gateway is only for the API, so no.

 

[NewTraderAdventure]

Instead of lowering fees in current schedule, they do this. They should instead lower fees for sometimes very expensive SMART routed trades.

They dont want to cannibalize their existing suckers, ie, regular customers.

Lets see how this plays out.

 

[tonyf]

Instead of lowering fees in current schedule, they do this. They should instead lower fees for sometimes very expensive SMART routed trades.

True dat!

 

[tonyf]

I wonder who this lite account is for?

Buy and hold: transaction fees much less relevant in this case.

Frequent trader: needs an ApI to say the least.

Possibly swing traders holding positions for a week or 2?

 

[tonyf]

And how could lite benefit from free data and not pro? Data has nothing to do with order rooting and execution.

 

[qlai]

Gateway is only for the API, so no.

I'm not familiar with Gateway, but why can't they allow Lite accounts trade via Gateway? Should not require any development for them and they would hit a few birds with one stone. If Robin Hood creates a decent API ...

 

[ZBZB]

ps it took an awful long time for someone to post this here.

If you are using elitetrader to trade off news you may be doing something wrong.

 

[tonyf]

I'm not familiar with Gateway, but why can't they allow Lite accounts trade via Gateway? Should not require any development for them and they would hit a few birds with one stone. If Robin Hood creates a decent API ...

Because API dev time is expensive

 

[Alexpung]

I wonder who this lite account is for?

Buy and hold: transaction fees much less relevant in this case.

Frequent trader: needs an ApI to say the least.

Possibly swing traders holding positions for a week or 2?

Minimum activity fee is waived and free US market data so targeting people with <USD100k

 

[tonyf]

Minimum activity fee is waived and free US market data so targeting people with <USD100k

Those guys use much simpler solutions like Wealthify here in the UK (majority of them at least)...
Still unsure about the size of the market.
AND we want free data for all!