IB: Misc Fee with multiple accounts

T

thecalip

I am trading futures with IB now and generated more than $30 commission. The question I have is, if I transfer my IRA account to IB, do I need to fulfill the $30 minimum in commission in order to avoid the fee?
 
Quote from thecalip:

I am trading futures with IB now and generated more than $30 commission. The question I have is, if I transfer my IRA account to IB, do I need to fulfill the $30 minimum in commission in order to avoid the fee?
More...

I believe the answer is yes based on my understanding, but I don't have multiple accounts to speak from experience.
 
I believe the minimum fee ($10 as I recall) is per login. It is possible (but not generally known) to have more than one login per account. IB does not credit trades for one login against the minimum fee for another.
 
Quote from rwk:

I believe the minimum fee ($10 as I recall) is per login. It is possible (but not generally known) to have more than one login per account. IB does not credit trades for one login against the minimum fee for another.
More...

But this is distinct from having multiple usernames per user. So if you have only one user on an account with two user names, it's a single minimum.
 
Quote from rayl:
But this is distinct from having multiple usernames per user. So if you have only one user on an account with two user names, it's a single minimum.
More...
By "multiple logins", I mean multiple user names for the same account. Obviously there will be at least one login for each account. I have two accounts, but I have not [yet] tried a second login for either. It is my understanding that each additional login is subject to the $10 minimum which you can avoid by doing at least $30 in commissions with each login.
 
Quote from rwk:

By "multiple logins", I mean multiple user names for the same account. Obviously there will be at least one login for each account. I have two accounts, but I have not [yet] tried a second login for either. It is my understanding that each additional login is subject to the $10 minimum which you can avoid by doing at least $30 in commissions with each login.
More...

I believe this is not correct. I have 2 logins (but same user, me). I don't discriminate which login I use to trade (well, office vs home) but frequently one of them (the office one as I work from home mostly) does not meet the $30.
 
Quote from rayl:
I believe this is not correct. I have 2 logins (but same user, me). I don't discriminate which login I use to trade (well, office vs home) but frequently one of them (the office one as I work from home mostly) does not meet the $30.
More...
O.K., I am happy to go with your understanding. IB should have the last word anyway. It's nice to know I can have a second login without paying extra.
 
Quote from rwk:

O.K., I am happy to go with your understanding. IB should have the last word anyway. It's nice to know I can have a second login without paying extra.
More...

You do get charged if you want to create a login for, say, your financial planner. (And that login would need to pay its own data fees if data were desired.) That's what I misinterpretted your original post to mean.
 
You must log in or register to reply here.
Back
Top