IB Unbundled rates for JPY

Quote from Steve_IB:

MidKnight - we have reduced our JPY commissions since your inital post - but you're right that currently you'd have to do 10,000 contracts before the commission in SGXNK is below the bundled rate. We can probably adjust this slightly so that the 1,000+ bracket is cheaper, I'll take a look.

The main problem is the way our unbundled fee is applied. We look at products under the currency they are traded in. Thus, while the intention is to give discounts for high volume under the unbundled structure, it does not work for some products. Until we program a new pricing model, we're abit constrained.
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Thanks for the reply Steve. Interesting you say the intention is to give discounts for high volume. For the majority of the products good discounts are given for minimal volume, this is why I was surprised it wasn't like that across the board for all products. I guess I had thought the main intent was to benefit short-term term traders so no carry costs would be bundled into the commission structure. My mistake.

Kind regards,
MK
 
Quote from MidKnight:

Thanks for the reply Steve. Interesting you say the intention is to give discounts for high volume. For the majority of the products good discounts are given for minimal volume, this is why I was surprised it wasn't like that across the board for all products. I guess I had thought the main intent was to benefit short-term term traders so no carry costs would be bundled into the commission structure. My mistake.

Kind regards,
MK
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Dear MK,
Your observation is correct.

From the commission table provided, there are only 15 products (most are JPY-denominated) that you have to pay more if you trade at the minimum volume under unbundled plan. Some may need to trade very high volume in order to benefit from the unbundled plan.

I agree that the charge of JPY-denominated products are crazy. It does not follow what most products enjoy. It may be better to trade JPY-denominated products in other brokerage.
 
Hi Trader_Herry,

Yes, I have recently been looking into that as an option as it doesn't sound like this is just an oversight on IBs part, but instead the intended result. JPY products are where I put most of my efforts.

Thanks for the comments.

Kindest wishes,
MK
 
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