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Interactive Brokers Fees

Discussion in 'Brokers' started by JAC123, Jan 13, 2018.

  1. JAC123

    JAC123

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    Hi Everyone,

    Just wondering if someone can clarify the fees for me on IB. I have an individual cash account with around 25K trading in stocks only. I'm having trouble working out the fees involved with IB. Currently I pay brokerage with IB of $25 USD for each US listed stock and $30 AUD for all Australian listed stocks, either side of the trade.

    What I can't seem to figure out is the quote that's made on IB. I've a attached a screen shot of an example trade quote. As you can see the total quote plus commission is $8,147. However the change that this will make to the portfolio is -$8,587, meaning $440 is getting lost somehow (on top of the commission)? I don't have any pending trades and there shouldn't be any FX fees (i.e. VAS is listed on the ASX and quote is in AUD). This happens with all my trades.

    I'm hoping I'm just missing something here and showing my inexperience and IB is not a complete rip-off for Australian's as I do like the charting tools available.

    Many thanksFee question.JPG
     
  2. Sir Burr

    Sir Burr

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    What's your setup, brokerage seems expensive.

    2018-01-13_184241.jpg
     
  3. JAC123

    JAC123

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    Individual cash account.

    There's also the discrepancy between the $8,147 quoted price and the change that will make to the portfolio -$8,587, meaning $440 is getting lost somehow (on top of the commission)? No idea how you could run a trading account with those kind of fees!!
     
  4. Sir Burr

    Sir Burr

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    Last edited: Jan 13, 2018
  5. JAC123

    JAC123

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    Certainly does. Would be good to hear if anyone else has this problem. Maybe this is opening up a big can of worms.......
     
  6. blue0810

    blue0810

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    Check your setting:

    AM ->setting >-commissions pricing structure:fixed,fixed
     
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