IB Commissions

[Swish]

If I remember correctly, ECN fees are included in IB's commission rate.

Are SEC fees included or are they tacked on?

Thanks,

Swish

 

[gms]

There aren't SEC fees. SEC fees are administered on retail broker accounts. IB is direct access.

 

[crazy_trader]

What?? IB is not opening account to retail daytrader...

Quote from gms:

There aren't SEC fees. SEC fees are administered on retail broker accounts. IB is direct access.

 

[Htrader]

Quote from gms:

There aren't SEC fees. SEC fees are administered on retail broker accounts. IB is direct access.

Thats not exactly true. Direct access is just a subset of the retail market. SEC fees still apply to IB customers, its just that IB absorbs the fees in their regular commissions.

So yes, the fees are already covered by the existing commissions.

 

[Swish]

When the SEC fees increased, did IB just take the hit without increasing their commissions?

 

[def]

Quote from Swish:

When the SEC fees increased, did IB just take the hit without increasing their commissions?

yes, we took the hit and ate the increase.

 

[Swish]

pretty impressive......

 

[trend_guy]

that is one of the reasons why traders (myself included) are so loyal to IB, they are great!

 

[Babak]

This is a digression, but since we had def's attention, I wanted to ask him how IB is coming along in setting up a borrow list for the newly opened (to retail) Canadian markets.

TIA

 

[ElectricSavant]

I am going to open up an account with IB. What am I waiting for? I have enough experience to offset my trade if something happens............. with my other brokerage account.

Michael B.

P.S. do you know if you guys got the personnell to assist traders when something happens you would be like the microsoft of brokerages! But then I guess you commish would go up, cause nothing is for free!