IB Are You EVER Going To Give Us Commission Details?
- Thread starter Shreddog
- Start date
The topic is in the feature poll as giggollo pointed out: http://www.elitetrader.com/vb/showt...068#post1325068.
May be IB can have a collapsible sign "+" in the new statement under commissions. So, by clicking that collapsible sign "+", one would be able to view the commission details. In that way, it would not clutter the statement.
May be IB can have a collapsible sign "+" in the new statement under commissions. So, by clicking that collapsible sign "+", one would be able to view the commission details. In that way, it would not clutter the statement.
GTC's link doesn't seem to work so here again is the link to vote on this, make your voice heard:
http://www.elitetrader.com/vb/showthread.php?s=&postid=1325068#post1325068
http://www.elitetrader.com/vb/showthread.php?s=&postid=1325068#post1325068
Quote from Cdntrader:
maybe they are waiting for it to be voted on, if/when it is added to the Feature Poll.
maybe they are waiting for people to forget this thread.
maybe they are waiting to hunt us more money and delay the issues.
While I believe IB tries to charge unbundled commissions correctly, you cannot trust that they will. Some months ago NYSE changed their fees substantially. IB did not come close to correctly charging the new fee schedule, resulting in substantial overcharges. It took me 1-2 months of nagging to get them to acknowledge and fix the problem. There is a thread I started that discusses this in detail.
Before this I had naively thought that IB just passed on the cost as it was billed by the exchange, now I know that they attempt to emulate it.
My solution was to write a Perl script to calculate commissions and fees. Periodically I spot check individual trades to see if their commissions match what I expect. For me this works well because 99% of my orders are well defined as adding liquidity or MOO/MOC. I donââ¬â¢t have to worry too much about whether my limit order is taking or adding liquidity because they are placed long before the market reaches my price.
Of course this means that I have to keep up-to-date with exchange fee schedules, but they donââ¬â¢t change too often.
Before this I had naively thought that IB just passed on the cost as it was billed by the exchange, now I know that they attempt to emulate it.
My solution was to write a Perl script to calculate commissions and fees. Periodically I spot check individual trades to see if their commissions match what I expect. For me this works well because 99% of my orders are well defined as adding liquidity or MOO/MOC. I donââ¬â¢t have to worry too much about whether my limit order is taking or adding liquidity because they are placed long before the market reaches my price.
Of course this means that I have to keep up-to-date with exchange fee schedules, but they donââ¬â¢t change too often.