IB raise account fees
- Thread starter Salmon
- Start date
maglia rosa
Guest
clearly signs of inflation...
It is this comment that make me start to feel the urgency to comment in this thread.
I originally thought that IB raised this fee in the name of unloading the burden on back of their loyal due-payers who trade much more frequently. They stated this new fee made it more "fair". But I don't understand why IB also charged new cancellation fee to punish their loyal hard-working tireless due-payers who keep generating revenue for them. In fact a couple of them just broke in matter of weeks after the new fee severely affecting their ability to continue trading. I know they say it is the exchanges thing. But in fact IB charges more strictly and heavily than the exchanges do. Of course, if IB have some difficulty and must charge this way, let us know. And we may try to understand it.
Loyal due-payers need some relief. Please!
I originally thought that IB raised this fee in the name of unloading the burden on back of their loyal due-payers who trade much more frequently. They stated this new fee made it more "fair". But I don't understand why IB also charged new cancellation fee to punish their loyal hard-working tireless due-payers who keep generating revenue for them. In fact a couple of them just broke in matter of weeks after the new fee severely affecting their ability to continue trading. I know they say it is the exchanges thing. But in fact IB charges more strictly and heavily than the exchanges do. Of course, if IB have some difficulty and must charge this way, let us know. And we may try to understand it.
Loyal due-payers need some relief. Please!
def
Sponsor
NoMoreOptions/QDZ: the option cancel fee has NOTHING to do with a minimum commission requirement per month. If as you suggest you used to trade options (or still do trade options), most likely you pay a data fee and then there will be no additional charge to you.
IB raised the minimum to $10 per month from those over 25 years of age (those under have a $3 requirement). BUT- US stock data feeds cost $10 per month. we also seem to have a some people who are opening accounts for our futures data feeds and not trading with us. Some of the overseas feeds are free or cheaper than other providers. Finally, a good portion of requests for help come from accounts which generate very little commission income.
The end result of the increase should be (assuming those who don't like it close their accounts) better utilization of resources for those that actually trade.
Note: this fee only affects those that choose not generate a total of $10 in commissions AND/OR market data fees.
IB raised the minimum to $10 per month from those over 25 years of age (those under have a $3 requirement). BUT- US stock data feeds cost $10 per month. we also seem to have a some people who are opening accounts for our futures data feeds and not trading with us. Some of the overseas feeds are free or cheaper than other providers. Finally, a good portion of requests for help come from accounts which generate very little commission income.
The end result of the increase should be (assuming those who don't like it close their accounts) better utilization of resources for those that actually trade.
Note: this fee only affects those that choose not generate a total of $10 in commissions AND/OR market data fees.