interest charged on negative cash balances, IB and TW

FrankInLa said:
Free commission brokers are between 4x and 10x as expensive in anything other than commission than IB. I thought people realized that by now.
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Anything is an exaggeration. If you pay margin interest the statement is definitely true.
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I thought people realized that by now.[/QUOTE]
you are joking. Most people on ET don't read a prospectus.
 
FrankInLa said:
Wrong terminology. You should check with each broker what their debit and credit rates are.
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Not only pedantic and unhelpful, but also wrong. The terminology is correct, debit and negative cash balance mean the same thing. IB even uses the phrase "negative cash balance" on some of their pages.

Sophie said:
l currently have a -ve cash balance of -50K USD and net liquidity +20k, am l correct in my understanding that IB charge 1.55% (BM + 1.5%) www.interactivebrokers.co.uk/en/index.php?f=1595
and TW charge 7.00% ,Base Rate https://tastyworks.com/commissions-and-fees/
so TW would be ~4X pricier for the negative cash balance?
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Since the question doesn't seem to have been properly answered yet: Yes, you are correct in your understanding. IB really is ~4x cheaper for interest on negative cash balances.
 
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Which I stated in my first post in here. Still licking wounds from your contango BS?

cruisecontrol said:
Not only pedantic and unhelpful, but also wrong. The terminology is correct, debit and negative cash balance mean the same thing. IB even uses the phrase "negative cash balance" on some of their pages.



Since the question doesn't seem to have been properly answered yet: Yes, you are correct in your understanding. IB really is ~4x cheaper for interest on negative cash balances.
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check your dictionary for troll. You are sneaking up on me since I schooled you on basic futures pnl accounting. And now, please go bang on someone else's door. No interest conversing with you unless its meaningful content. Or else end up on ignore. You have been warned once.

cruisecontrol said:
LOL. I thought you might be a troll but now it's obvious that you are. Thanks for clearing that up for us :thumbsup:
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