Interactive Brokers Communiqué - New Commissions

Posted on October 25, 2005
Tags: General rant |

Those of you using Interactive Brokers will already be aware of this, for the others here’s some cool news:

Interactive Brokers Announces the New Industry Standard in Deep Discount Commissions for Professionals

In keeping with our mission of providing low cost trade execution and clearing services to professional traders and investors worldwide, IB is pleased to announce the following new US commissions schedule to take effect Tuesday, November 1, 2005.
Stocks*: $0.005/Share (all-in)
Options*: $0.75/Contract (all-in)
Futures: $0.25 to $1.20/Contract (plus exchange costs)
Forex**: 1 to 2 PIP wide EUR/USD spreads

Comments

4 Responses to “Interactive Brokers Communiqué - New Commissions”

delightedtoreply on October 25th, 2005 8:00 pm

Unfortunately, 100 shares of google is still a buck.
eyal on October 25th, 2005 9:28 pm

Yeah unfortunately 20 shares of goog are still a buck too ;)
Englishman Trader on October 27th, 2005 2:47 pm

They have just undercut CyberTrader and their pre-share offering of 0.006 per share. However, shares over 2000 then get a 0.003 per share rate. Is IB doing something similar ?

Now 2000 shares of GOOG at $350 per share is $700,000. Are you willing or able to spend THAT much to get the lower rate on additional shares ?

Enjoy the new rates.
eyal on October 27th, 2005 8:00 pm

IB doesn’t do the 0.003. I hardly ever trade 2000 shares lots so it’s not as relevant to me..

I use IB mainly because it doesn’t have any monthly fees associated with it and I can choose any charting software.. the price to pay for this is lack of integration between the charting and order entry. So it’s definitely not for everyone.