Interactive Brokers introduces free zero commission trading platform.

heavenskrow said:
So now it would make sense to trade the SPY as many times as i want vs ES futures?
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I believe commissions will still be on futures. So yeah I guess. But the no desktop platform is a big hold for me that will keep me on the "pro" account.
 
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qlai said:
Wow, that's nice. Free data too. I wander how this affects API users.
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There apparently is no API for IBKR Lite. Click on the "Compare Plans" button from this link:

https://www.interactivebrokers.com/en/index.php?f=45196

Another significant difference, the margin loan rate is at least 1% higher for IBKR Lite and the interest paid on idle cash is at least 1% lower for the Lite version. So the difference in the idle cash payment between the two plans would more than cover what I lose in commissions by using the non-lite version.

I think this only really benefits people only trade stocks. Makes sense. They gave their plan some thought. They don't want all their customers going to the Lite account. The only want to keep the ones who would otherwise go to Robin Hood.
 
ET180 said:
There apparently is no API for IBKR Lite. Click on the "Compare Plans" button from this link:

https://www.interactivebrokers.com/en/index.php?f=45196

Another significant difference, the margin loan rate is at least 1% higher for IBKR Lite and the interest paid on idle cash is at least 1% lower for the Lite version. So the difference in the idle cash payment between the two plans would more than cover what I lose in commissions by using the non-lite version.

I think this only really benefits people only trade stocks. Makes sense. They gave their plan some thought. They don't want all their customers going to the Lite account. The only want to keep the ones who would otherwise go to Robin Hood.
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INdeed. It targets the Robin Hood market. This Lite plan is only available to U.S residents and not international customers of IBKR who are not eligible for Robin Hood.

If Robin Hood is a listed company, the price will crash double-digit on this announcement. IBKR is big giant which is not to be trifled with.
 
ET180 said:
There apparently is no API for IBKR Lite. Click on the "Compare Plans" button from this link:

https://www.interactivebrokers.com/en/index.php?f=45196

Another significant difference, the margin loan rate is at least 1% higher for IBKR Lite and the interest paid on idle cash is at least 1% lower for the Lite version. So the difference in the idle cash payment between the two plans would more than cover what I lose in commissions by using the non-lite version.

I think this only really benefits people only trade stocks. Makes sense. They gave their plan some thought. They don't want all their customers going to the Lite account. The only want to keep the ones who would otherwise go to Robin Hood.
More...

It's great if I decided to change away from an active trader to long term buy and hold. Don't have to worry about account minimums, account maintenance fees, etc.

It sucks to only be able to switch back and forth once a quarter though.
 
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