IB charging exchange fees

T

tntneo

Moderator
IB is starting to charge exchange fees soon.

See their news report.. but in short Equity and or options = $10 per month (free for $30 or more of commissions)
(well, this means I close this inactive account !)

$10 for Globex with no rebate.

for other exchanges check out IB's web site.
tntneo
 
>IB is starting to charge exchange fees soon.

Just for clarification -- these are not "exchange fees" as in fees for the Island exchange and other ECN exchanges, but rather fees for any additional market data (such as LVL2).

JB
 
Market Data Fees
We are required to pay a per person monthly fee to each exchange whose quotes we display on your TWS. To provide our active traders with a superior level of market data delivery services, and to keep transaction fees low, IB will begin to charge Market Data Fees . These fees will be based on a "Non-Professional" or "Professional" definition of a customer, and the exchanges a customer chooses to subscribe.

You will be able to change your "Non-Professional"/"Professional" status and your subscribed exchanges during the last week of November. At that time, please sign into "Account Access" from our home page to check and/or change your status, or click the subscribe button in TWS to check and/or modify subscribed Exchanges.

Customer's accounts will be charged based on their "Nonprofessional/Professional" status and exchanges subscribed on record. Market data charges for any given month will appear on your statement during the first week of the subsequent month. Those accounts with insufficient funds to pay the fees will be closed. If you do not wish to be charged for November market data for a given exchange, please change your subscribed exchanges by 11/30/01 as instructed above. After November, partially subscribed months will be charged at the full month rate in the following month.

Non-Professional Fees - Monthly

Exchange Charge
IB FX Dealing Free
US Equity and/or Option Exchanges $10 (Waived if>$30 in monthly commissions)
NASDAQ Level II $79
ACE $30
Eurex 30 Euros
Globex $10
Hong Kong Futures Exchange Free
Liffe 5 Pounds
LSE 4 Pounds
Matif Free
Monep Free
Swiss Exchange & Virt-X 14 CHF
 
Def,

Could you please check on the new Level II fee for nonprofessional? It's listed at $79 on the IB Communique we all received, yet the Nasdaq charges $10 for non pros.

Is that just an error? Hopefully it is :)

Thanks,

99
 
$10 a month is not much for an active account. It is a lot for the tiny Roth IRAs. What about people with multiple accounts? some active, some less active? You are charged the fee for each account. I guess they want to force all less active accounts, small accounts to close.

$79 for level II is way too high.. This is not a bad price a few years ago but definitely not now..
 
$79 for Level II is way too much. I wonder if it includes Time
and Sales? Datek only charges $10 for their Level II, but I
don't think they have T&S.
 
If they are going to start charging such fees, then its definitely time that they make their data available to programs like QuoteTracker. Makes little sense for us to be charged multiple times for access to the same exchanges.

Def: What's the status of multi-currency futures accounts, and the combined stock and futures accounts. Such a "super" account would help take the sting out of the extra fees being imposed... Thanks.
 
"What's the status of multi-currency futures accounts, and the combined stock and futures accounts. Such a "super" account would help take the sting out of the extra fees being imposed"

Yes. Really this is what I care most. A long time to wait. More precisely, a multi-currency futures account with (at least) us equity/index options, a super "derivatives" account, will be beyond competition in current retail marketplace. A "all-in-one" account to accommodate equities trading is welcome, beneficial, of course, though not essential to myself.

Def, since IB decide to charge its customers on a per-customer basis market data fees, somewhat in a data provider status, I think it's time to justify the offering of realtime DDE link to Excel as a "basic" functionality to the TWS. Or any other more efficient mechanism can you figure out? For those who don't bother this, they could just choose to turn it off, or nothing to do because the default is "disabled".
 
>If they are going to start charging such fees, then its definitely >time that they make their data available to programs like >QuoteTracker. Makes little sense for us to be charged multiple >times for access to the same exchanges.

Yes i second that!!
 
you might be able to claim/prove that you pay for the fees elsewhere and not get double charged. That's an issue you should best address with a letter to IB mgmt on the web site.

as for mult futures account: est time is less than 20 days.

all in one account: not sure. i assume it will happen after the mult futures account.
 
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