Lower commissions on higher volume for forex with IBKR

M

mark_ajoc

Hi, first time posting here!

I was wondering if anyone has experience trading volume in forex with IBKR? I'm a little confused by the very brief description of commissions on their website, so I'd love to hear from someone with direct experience.

For example, if I trade $2 billion monthly, do I pay 0.2bp on the first billion and 0.15bp on the rest... or does it become 0.15bp on the full $2 billion?

Is there anywhere to check the status of current monthly volume, or commission-level-status, other than the order preview?

Any help would be much appreciated. Thanks in advance!
 
Believe it is 0.2bp on the first billion and 0.15bp on the rest
But if you really can move billions you should look for cheaper rates
 
Thanks for the reply. That seems like the most likely thing to me. The other option seems too complicated to implement. Brokers hardly like giving back commissions they have already charged!

I believe I can move that volume for the right commissions. I would welcome suggestions of alternatives if you have them. I really just ended up using IBKR for this, rather than a specific choice.
 
mark_ajoc said:
Hi, first time posting here!

I was wondering if anyone has experience trading volume in forex with IBKR? I'm a little confused by the very brief description of commissions on their website, so I'd love to hear from someone with direct experience.

For example, if I trade $2 billion monthly, do I pay 0.2bp on the first billion and 0.15bp on the rest... or does it become 0.15bp on the full $2 billion?

Is there anywhere to check the status of current monthly volume, or commission-level-status, other than the order preview?

Any help would be much appreciated. Thanks in advance!
More...

Will you be providing or taking liquidity and what avg size per trade/order do you envision? Feel free to PM me.
 
For the sake of discussion, let's say always taking liquidity, 500 round trip trades of $100K per day.

I'm particularly concerned by the definition of monthly volume. Does this reset by calendar month, putting me back to 0.2bp on the first of the month?
 
mark_ajoc said:
For the sake of discussion, let's say always taking liquidity, 500 round trip trades of $100K per day.

I'm particularly concerned by the definition of monthly volume. Does this reset by calendar month, putting me back to 0.2bp on the first of the month?
More...

if providing liquidity, we could probably do something but as you're taking, I suspect not to start and it would reset each month. After some consistency, we could discuss.
 
Thanks for the info.

So I will start each calendar month on 0.2bp, and after $1 billion of traded volume, the commissions will reduce to 0.15bp automatically and so on until the end of the month? I don't need to request this feature specifically in account management?
 
mark_ajoc said:
Thanks for the info.

So I will start each calendar month on 0.2bp, and after $1 billion of traded volume, the commissions will reduce to 0.15bp automatically and so on until the end of the month? I don't need to request this feature specifically in account management?
More...

Correct
 
mark_ajoc said:
Thanks for the info.

So I will start each calendar month on 0.2bp, and after $1 billion of traded volume, the commissions will reduce to 0.15bp automatically and so on until the end of the month? I don't need to request this feature specifically in account management?
More...
If you’re looking for a broker with the lowest commission, try out fxview. I’ve been dealing with this broker for a year now and the $1 commission per side on its ECN account is very pocket-friendly. Other than this, you can also use the commission calculator for better understanding. I mean I’m really not good with numbers, so having a calculator in hand is cool. At least I know the figure will be correct.
 
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