Interactive Brokers Group Donating $5 Million to Aid in Coronavirus

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eastern_warrior

Nice gesture. Let's hope other brokers and financial firms step up as well.

In response to the unprecedented needs brought about by the COVID-19 pandemic, Interactive Brokers Group, Inc. (Nasdaq: IBKR), has committed $5 million to assist efforts to provide food and support for people hurt by the coronavirus in the United States as well as to advance medical solutions.

IBKR’s commitment of $5 million will:
  • Provide financial grants to local and national organizations to help meet the greatest needs of our communities and to support the front-line organizations working to treat and contain COVID-19.
  • Contribute to the effort to accelerate and evaluate new and existing drugs for prevention and treatment of COVID-19.
https://www.businesswire.com/news/h...eractive-Brokers-Group-Donating-5-Million-Aid
 
Do over loyal customers of over a decade with sudden <s>margin hikes</s> removal of margin on equities, then give away money, solid plan IB.
They're transforming into a behemoth with focus everywhere but their core business. Figures that after Peterffy things are only going downhill.
 
Very kind of IB. It will be nice if IB extends some discount for their loyal customers who trade more than average. Cheaper prices for all of us :)
 
helpme_please said:
Very kind of IB. It will be nice if IB extends some discount for their loyal customers who trade more than average. Cheaper prices for all of us :)
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Expect the opposite. I've only seen fees being added, nothing removed. Their margin system assumes every customer is the dumbest customer they have, so trading is severely disabled. Not sure how they imagine trading with almost no margin for the future unless they want to become an long-term investor platform only.

Besides, does the richest country on the planet need private donations of this size. Why not donate it to Switzerland or Norway instead because that's where it's actually needed, right? Not in poorer countries where quite a few are actually fighting starvation.
In reality it's probably just a tax writeoff.
 
d08 said:
Do over loyal customers of over a decade with sudden <s>margin hikes</s> removal of margin on equities, then give away money, solid plan IB.
They're transforming into a behemoth with focus everywhere but their core business. Figures that after Peterffy things are only going downhill.
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I've worked at 3 different brokers and each of them hiked margin requirements with no warning. That's how the industry is bro. I don't see much alternative just keep in mind when VIX goes crazy, margin requirements will be hiked up.
 
d08 said:
Their margin system assumes every customer is the dumbest customer they have, so trading is severely disabled.
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Haha, even after all these years (over 20) i can still be pretty dumb when it comes to trading.
 
Fain said:
I've worked at 3 different brokers and each of them hiked margin requirements with no warning. That's how the industry is bro. I don't see much alternative just keep in mind when VIX goes crazy, margin requirements will be hiked up.
More...

But three times the CME weekend/overnight requirement for holding a position during RTH for a few hours?

Overnight/ weekend margin on the CME , $12000.
IB for a day trade during RTH, $36000
 
As for margins it is simple for me ... Split the money, use more brokers, bet as you would have a single account ... the only disadvantage would be absence of the portfolio margin for some but what is the point of the PM when the broker requires 3 times CME margin
 
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