Understanding IB's commission
- Thread starter marsman
- Start date
BWB = broken wing butterfly
I know about the fees but they're lumped in with commission on the statement.
I know about the fees but they're lumped in with commission on the statement.
I'm trading only listed US equity options (the underlying is a listed stock), not even any index options, nor any ETFs, nor any futures, nor currencies or bonds etc.
Do such equity options have anything todo with CBOE? Or, how else can one determine that?
Here's a more complete screenshot. CBOE is not listed, so then it didn't have anything todo with CBOE:
Do such equity options have anything todo with CBOE? Or, how else can one determine that?
Here's a more complete screenshot. CBOE is not listed, so then it didn't have anything todo with CBOE:
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Options - "North America Pricing Structure" does not offer a fixed rate for options while Europe does.
If you use their option smart route, you are subject to the maker/taker fee structure on the 15 or so different option exchanges. they get to choose where your order goes.
If you want to choose your own option exchange, they charge $1.00/contract because they can lose the PFOF fees they get.
If you use their option smart route, you are subject to the maker/taker fee structure on the 15 or so different option exchanges. they get to choose where your order goes.
If you want to choose your own option exchange, they charge $1.00/contract because they can lose the PFOF fees they get.
Come on, I wonder why you defend them.
Fact is: they advertise $0.70 per contract, and that seems to be a lie.
How come you see on their web page a different price structure for North America then I.
When I click on North America then only the Fixed Plan appears, and for Europe both Fixed and Tiered appears.
So, for the US only the fixed plan is valid. But that doesn't match what they charge in practice... proof: see previous postings...
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But this is not fair advertising, because it says the fixed price structure covers/includes all other fees/costs like exchange fee etc.
I cite from their web page (see also the screenshot in the prev. postings):
"Fixed Plans
Fixed plans charge a single flat rate per contract that includes all commissions and all exchange, regulatory and other third party fees, plus VAT (also referred to as consumption tax or goods and services tax) where applicable."
Isn't that clear? Can anyone misunderstand this?
So, the question remains why I was charged $98.08 instead of 60*0.70=$42 according to the fixed commission structure?
I think their web page is wrong: they seem to have for NorthAmerica both Fixed and Tiered,
and they seem to have put me, and probably everyone else too, into the Tiered plan...
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I understand you complaint. However they offer trading in equites, options, options on futures and bonds. The ads don't cover everything. e.g. Their tiered futures prices are only for day trading. If you hold overnight positons, they charge a carrying fee per night. The fee is hard to find on their website if you look at it quickly and no one else does it.
Wait until you have to deal with support...that will be fun.
I have explicitly quoted the options page.
As said, I didn't trade any futures, just plain vanilla equity options.
And they can't know in advance whether I will hold the stuff overnight or not....
Yeah...
I am defending them. Nowhere on the equity option comm. page does it mention a fixed rate. The .70 is a base price. On the comm. page it clearly shows exchange fees, reg. fees, transaction fees and OCC clearing fees.
When I traded equity options with them, my average comm. was about .50 per trip. But many were over 1.00 and on some I got a rebate.
I could have spent time trying to figure it out, but since I was satisfied with that, I didn't.
You removed liquidity on BATS and paid for it.