Open Roth IRA account with IB

learningmode · Apr 10, 2014

Hi, I am about to open a Roth IRA account with IB.

Any gotchas I should be aware?

Also if anyone is interested to send me a referal, PM me.

granville · Apr 10, 2014

I have my roth with IB. No issues.

Good luck!

darwin666 · Apr 13, 2014

one issue with IB was that .... if u have a acct where u dont trade frequently. .they will charge u a in activity fee. ie. u have to make 30$ in commissions each month

that was preventing me moving my ROLL IRA to IB.
but I just got an email. that if u have more than 100K in any IB acct, there is no inactivity fee... so I will be moving my ROLL IRA. which does have >100K to IB.

granville · Apr 13, 2014

The monthly fee is $10 less commissions. Beats the $7/trade advertised elsewhere.

darwin666 · Apr 15, 2014

ok. even better.. so if u have 100K then they dont charge that 10$ fe.e. also if there is no activity..

fan27 · Apr 15, 2014

Yeah...I bite the bullet and pay the $10. Not a big deal.

smallStops · Apr 16, 2014

you are going to trade your retirement account ?
I hope you know what you are doing.

darwin666 · Apr 16, 2014

smallStops said:
you are going to trade your retirement account ?
I hope you know what you are doing.

why not?
but I have noticed. that commissions can be a bummer.. but IB is the best..in this regard
i used to keep doing some spreads...

but in principle. i do agree... retirement should be .. buy and hold long term. .quality blue chips..

i am gravitating to VOO

http://finviz.com/quote.ashx?t=voo

in 20 years... 90% of mutual fund managers will not be able to beat VOO. then why even bother trying. eh??

JackR · Apr 16, 2014

I think IB has two $10 fees they waive for $30/month in commissions. Account (Inactivity fee) and the US Market Data package fee. I'm not sure they waive both for an inactive >=$100K balance.

Jack