Has anyone managed to negotiate lower fees with IB?

[Sig]

No one who does would say so, and anyone who'd say so doesn't.

The answer to your question is simple logic. IBKR does not just say "...but our published rates are..." when an account holding $50mm in shares they can lend out (plus the plethora of other ways they make money with it) walks out the door.

I wouldn't be surprised if they did. They're pretty pathalogical about their one size fits all, minimum service fully automated offering. For starters you'd have to find someone there with more than a double digit IQ to even be able to ask, good luck on that front.

 

[tonyf]

Made the call: they need 3 months of trading in excess of 300k shares per month. They offered to start 4th month in second pricing tier: savings of 450 bucks per month.

 

[qlai]

Made the call

Given what Sig said, I wander how many people you had to go through to get the answer?

 

[tonyf]

Keep in mind that you are eligible for IB Prime if ypu have more than 1m in your account. You then get an specific account manager.

 

[nooby_mcnoob]

Keep in mind that you are eligible for IB Prime if ypu have more than 1m in your account. You then get an specific account manager.

Hmm, what is IB prime?

 

[Ryan81]

It's like Amazon Prime. They advertise that they'll deliver your shares sooner, but in practice, you just get them at the same slow speed.

 

[Sig]

Keep in mind that you are eligible for IB Prime if ypu have more than 1m in your account. You then get an specific account manager.

Note I didn't say you will have a hard time finding a person, just finding a person with more than a double digit IQ. I can tell you at least one "specific account manager" missed that mark by at least a standard deviation.

 

[tonyf]

Note I didn't say you will have a hard time finding a person, just finding a person with more than a double digit IQ. I can tell you at least one "specific account manager" missed that mark by at least a standard deviation.

Who do you trade with?

 

[Sig]

Who do you trade with?

Mainly TDWaterhouse at the moment but only because of the somewhat unique way they price SPX options commission and the fact I'm trading mostly those these days. Not necessarily the best broker if you're doing anything else, but it is refreshing after IB to get an intelligent person with securities industry knowledge on the phone 100% of the time, even more refreshing to only have to call them a couple times a year because they don't do any unexpected or just plain wrong shit like IB does all the time.

 

[tonyf]

Mainly TDWaterhouse at the moment but only because of the somewhat unique way they price SPX options commission and the fact I'm trading mostly those these days. Not necessarily the best broker if you're doing anything else, but it is refreshing after IB to get an intelligent person with securities industry knowledge on the phone 100% of the time, even more refreshing to only have to call them a couple times a year because they don't do any unexpected or just plain wrong shit like IB does all the time.

Is there any money left in SPX? What is your net annualised return om these?