IB costs

bennie83 · May 16, 2009

If I were to trade the E mini S&P future contract future with IB, what would the fees be for the following:

1. Approx commission (on their website they seem to quote $4.80 RT?)
2. Platform and charting fees per month (I assume this is free)
3. Market data fees per month (looking for live quotes bid & offer + market depth etc, don't know if this would be non-professional/professional)
4. Inactivity fees per month
5. Any other fees for non-US residents per month (i.e. transfering money etc)

I have tried asking IB this, but they just point me to their website. Sometimes it is difficult trying to piece all this information together.

Many thanks everyone.

jwcapital · May 16, 2009

Quote from bennie83:

If I were to trade the E mini S&P future contract future with IB, what would the fees be for the following:

1. Approx commission (on their website they seem to quote $4.80 RT?)

$2.40 per side, all-inclusive, so the $.80 RT is correct.

2. Platform and charting fees per month (I assume this is free)

It is free.

3. Market data fees per month (looking for live quotes bid & offer + market depth etc, don't know if this would be non-professional/professional)

Non-professional: if you generate over $30.00 per month of commissions, then there is no monthly charge. Anything under this amount, and you will be charged $30.00.

4. Inactivity fees per month

See number 3.

5. Any other fees for non-US residents per month (i.e. transfering money etc)

I do not know. You can go to the website and look under the Fees Tab.

I have tried asking IB this, but they just point me to their website. Sometimes it is difficult trying to piece all this information together.

Many thanks everyone.

bennie83 · May 16, 2009

Thank you so much. IB were unable to answer this! So would you recommned IB for trading futures?

What about Velocity Futures or Tradestaion? I've heard good things about these two.

teun · May 16, 2009

Quote from jwcapital:

3. Minimum charge is $10, not $30

bennie83 · May 16, 2009

Does that market data package include level 2 depth of market for e mini S&P contract (and other contracts?)?

cstfx · May 16, 2009

Quote from bennie83:

Thank you so much. IB were unable to answer this! So would you recommned IB for trading futures?

What about Velocity Futures or Tradestaion? I've heard good things about these two.

Unless you are a member or pay for x-Trader subscription, your commish is higher at Velocity:

http://www.velocityfutures.com/commisions.asp?products_id=1&exchanges_id=1&product_category_one=353

bennie83 · May 16, 2009

oh, I thought Velocity were cheaper? $4.73 RT and that's for non subscription members

cstfx · May 16, 2009

Quote from bennie83:

oh, I thought Velocity were cheaper? $4.73 RT and that's for non subscription members

That's 5.73, not 4.73, and more than IB's 4.80.

bennie83 · May 16, 2009

How strange they quoted me $4.73 the other day for 50 RT trades per month

bennie83 · May 16, 2009

This is an extract from the email Velocity sent me based on 50 RT per month and non-subscription.

"For the free Xtrader, youâre looking at $4.73 RT and $4.33 for Strategy Runner for the ES product.

If youâre going to be trading 500 contracts (250 RT) per month, then I would suggest subscribing because that is the break even point.

Minimum account opening balance for the free XTrader is $5,000 and $10,000 for subscription w/one exchange"