Interactive Brokers question

FishSauce · Jun 15, 2003

I am thinking about opening a new account.

From what I understand the fees structure is $0.005 (1000 shares.) edited

My question: what "hidden fees" should I expect to pay.

Thanks in Advance.

TGregg · Jun 15, 2003

Quote from FishSauce:

I am thinking about opening a new account.

From what I understand the fees structure is $0.005 for 1000 shares.

My question: what "hidden fees" should I expect to pay.

Thanks in Advance.

LOL. Nope, it's way more than half a cent for a thousand shares. IB charges a penny a share for the first 500 shares, then half a cent for the remaining shares. So to trade a thousand shares:

$5.00 for the first 500 shares
$2.50 for the remaining 500 shares
--------
$7.50 total per trade for 1000 shares.

There is a $10/month trading fee if you don't trade much. That's about it. They do not charge for ecn fees or anything. It's been a while since I traded stock through IB, but I don't think they've changed much.

FishSauce · Jun 15, 2003

Thanks, sorry for that grammatical error

So for 1000 shares, I am expecting to pay $7.5.

Which comes out to $7.5/1000= $0.0075 per share?

TGregg · Jun 15, 2003

Yep, you got it.

EDIT: That's on NYSE and NASDAQ. I have no idea what they charge for nonUS markets.

speedy · Jun 15, 2003

Not a hidden fee charged by IB but SEC fees are charged on the sales.

FishSauce · Jun 15, 2003

Pardon my ignorance, but how much is that SEC fee?

range · Jun 15, 2003

speedy,

No SEC fee in my account. (IB eats it.)

mixer · Jun 15, 2003

dude IB rules just look at my post Who Rules...

mixer · Jun 15, 2003

dude IB rules just look at my post Who Rules..

http://www.elitetrader.com/vb/showthread.php?threadid=18766

estrader · Jun 15, 2003

Quote from FishSauce:

Pardon my ignorance, but how much is that SEC fee?

Why do you care, since you will pay this fee whoever you trade through. It is charged when you sell your stock. I believe it is about 1/15000 of the sale amount. Will this stop you from trading?