I pay around $4k a month in commissions to IB. Has anyone managed to successfully negotiate with IB?
Does IB negotiate commissions?
- Thread starter Humble Investor
- Start date
If you are an institutional client then yes. Although IB does not openly advertise this. But 4k sounds quite small to qualify as institutional client. Also, you would be considered a professional for all intents and purposes and pay market data rates as professional.
I was paying approx that same monthly amount at IBKR institutional. I asked them multiple times and they said it is what it is. So I moved almost all my money to Fidelity and Schwab where it is zero commission for all participants.
If they want to keep their customer base, they need to wake up and realize there are lots of free alternatives now.
If they want to keep their customer base, they need to wake up and realize there are lots of free alternatives now.
They are not free and as many experience now they can be net costlier than with commission based brokers that allow direct market access and charge a fraction of the margin rates and borrow rates that the no commission brokers charge. But hey, the information is out there, everyone can make up their own mind.
Free isn't really free. Sounds like you don't measure execution.
They'd rather would need to keep traders in tiers, so that every month isn't like I'm just another new customer. I can't remember the last time I went below 300k per month, yet I start in the bottom tier every time. Loyalty and consistency should count for something.
Do you have personal experience with this being successful?
same at Fidelity. Price improvement on a good portion of trades.