Interactive Brokers review 2014


3-star brokerage firm rating


Interactive Brokers Fees Schedule, IRA Accounts Rates, Margin Interest Rates, Cash Sweep, Stock Trading Costs, ACAT Fee in 2014



Listing of all the fees charged by Interactive Brokers takes dozens of pages on their website. Here we will provide only the most important fees. For a complete list click here.


Interactive Brokers Fees, Trading Commission Structure, and Investment Products


ProductPrice
Stocks and ETFs $0.005 per share with $1 minimum, 0.5% of trade value maximum for SMART routed orders
Options $0.70 per contract if Premium => $0.10; $0.50 per contract if $0.05 =< Premium < USD 0.10; $0.25 per contract if Premium < $0.05 + exchange fees. Minimum $1 per order.
Mutual funds $14.95 (minimum size on initial fund order is $3,000, subsequent minimum order size is $100)
Corporate and Municipal Bonds0.1%* Face Value (10 bps) if <= $10,000 Face Value; 0.025%* Face Value (2.5 bps) if > $10,000 Face Value
Treasuries (Bills, Notes, Bonds)0.025%* Face Value (2.5 bps) if <= $10,000 Face Value; 0.005%* Face Value (0.5 bps) if > $10,000 Face Value; $5 minimum
Metals0.15 basis point * Trade Value; minimum $2; storage cost 0.10 % per annum
Forex0.20 basis point * Trade Value if <= $1,000,000,000; minimum $2
US SSFs$0.30 if <= 20,000 contracts
EFPs$0.50 if < 100 contracts; $0.30 if 100 to 499 contracts;

Investments stocks, options, mutual funds, ETFs, bonds, futures, currency transactions, US SSFs, EFPs, metals
Interactive Brokers\IB minimum deposit to open account $10,000 for non-IRA account, $5,000 for IRA account



Interactive Brokers Mnimums Required to Open an Account


Category Required Deposit
Individual Accounts (unless listed below) USD 10,000 (or non-USD equivalent)
Trading Group Masters USD 10,000 (or non-USD equivalent)
Broker Masters USD 10,000 (or non-USD equivalent)
Indian residents 2 trading with an IB India account INR deposits only, equivalent to USD 2,000
Indian residents 2 trading with an IBLLC-US account USD 5,000 (or non-USD equivalent)
IRAs 3 USD 5,000 (or non-USD equivalent)
Individuals age 26 or younger USD 3,000 (or non-USD equivalent)
Advisor and Broker Clients USD 5,000 (or non-USD equivalent)

Notes: To Trade a margin account you must maintain at least USD 2,000 or non-USD equivalent. For details on margin requirements, see the Margin page.

1. Accounts that show no balance will be closed. To reactivate an account that has been closed for having no balance, a new account deposit of USD 10,000 or non-USD equivalent is required.
2. Indian resident is an individual who resides in India for more than 182 days per year.
3. Because of contribution limits, IRA accounts will only be required to deposit USD 5,000 in order to open a new account. In addition, US Regulators require USD 25,000 (or non-USD equivalent) to Day Trade stocks and options.



IB Monthly Inactivity Fees


As IB caters to active professional traders and investors, they require that each account generate a minimum of commissions per month. Accounts generating commissions less than the minimum as stated below in any given month will be assessed the difference as a monthly activity fee. Please note that the monthly activity fee is based on commissions only, and does not include fees related to third-party assessments such as market data subscriptions or order modification/cancellation fees.

In addition to monthly fee minimums, we pass through market data fees from the exchanges for any real-time market data service in which a customer subscribes. Customers choosing to subscribe to US non-professional real-time market data will have the USD 10 (or non-USD equivalent) monthly market data subscription fee waived if they spend USD 30 (or USD equivalent) or more in commission for the month.


Customer Type Activity Fee Minimum
All customers not listed below USD 10.001(or non-USD equivalent)
Financial Advisor Client USD 10.00(or non-USD equivalent)
Indian residents2 trading with an IB India account USD 5.003(or non-USD equivalent)
Age 25 or under USD 3.00(or non-USD equivalent)
Customer with equity balance < USD 2,000 or equivalent, or customer maintaining a balance in a closed account USD 20.00(or non-USD equivalent)

Notes: For the purpose of computing minimums for Advisors, Institutions, and Brokers, fees are considered on a consolidated basis. The number of accounts under an Advisor, Institution, and Broker structure are multiplied by the USD 10 minimum, and compared to the total commissions for all accounts. If the total commissions are greater than the minimum calculation, no activity minimum fee will be applied. If the total commissions are less than the minimum calculation, the minimum fee calculation will be applied to each individual account.

As an example, I have one advisor master account and four client accounts. My minimum is five times USD 10, or USD 50. If all five accounts on a consolidated basis had commissions of USD 60, no minimum would be charged. If the consolidated commissions for all five accounts were USD 40, the USD 10/USD 20 minimum described in the Activity Fee Minimum column would be applied to each account (including advisor and master accounts).

1. Waived for the first 3 full calendar months.
2. Indian resident is an individual who resides in India for more than 182 days per year.
3. Waived for the first 3 months.



Interactive Brokers Cash Sweep Interest


Interest paid on your cash is 0%.



Interactive Brokers Margin Rates


Debit Balance Margin Rate
$0 - $100,000 1.59%
$100,001 - $1,000,000 1.09%
$1,000,001 - $3,000,000 0.59%
$3,000,001+ 0.5%



IB Withdrawal Fees


Currency Wires Checks ACH/EFT SEPA
USD 10.00 4.00 1.00 N/A
CAD 12.00 N/A 2.00 N/A
MXN 100.00 N/A N/A N/A



IB IRA Fees


IRA customers will be responsible for the $7.50 quarterly fee charged by our trustee. This fee is charged to the account quarterly at the beginning of each calendar quarter. For new accounts, billing commences on the next calendar quarter billing date following the funding of the account for the coming calendar quarter.



IB ACAT Fees


Transfer Method Type Fee
ACATS Deposit or Withdrawal None
DWAC Deposit or Withdrawal USD 100 per settled transaction
DRS Deposit or Withdrawal USD 25 per settled transaction; USD 100 per rejected transaction



IB Market Data Charges


Region/Exchange Non-Pro Fees/month Pro Fees/month
US Securities & Commodities Non-Professional Bundle 2, 4, 10 USD10.00
Waived for Activity 5
Not Available to Professional Subscribers
AMEX 13 See US Non-Pro Bundle Above USD24.00
AMEX MKT Order Imbalances Free Free
AMEX Options Depth of Book USD10.00 USD60.00
ArcaBook for Equities 12 USD10.00 USD30.00
ArcaBook Options Depth of Book USD10.00 USD60.00
Boston Stock Exchange (Stocks and Warrants) USD1.00 USD40.00
CBOE Futures Exchange Level I USD1.50 USD7.50
CBOE Futures Exchange Level II N/A USD15.00
CBOE Market Data Express Indices USD2.00 USD2.00
CBOT Floor Based 1 USD70.00 USD70.00
CME Floor Based 1 USD70.00 USD70.00
CME S&P Indexes USD2.50 USD2.50
Dow Jones Global Indices USD1.00 2 USD2.00
ICE Futures U.S. (NYBOT) 11 USD85.00 USD85.00
ISE Options Depth of Book USD10.00 USD60.00
Moody's US Bond Ratings (Corporates and Municipals) USD1.00 9 USD1.00 9
NASDAQ Level I See US Non-Pro Bundle Above USD25.00
NASDAQ TotalView 8 USD15.00 USD76.00
NASDAQ Options Depth of Book USD10.00 USD60.00
NYSE Global Indices USD1.00 USD10.00
NYSE Level I See US Non-Pro Bundle Above USD50.00
NYSE Liffe (Precious metals futures and futures options) USD1.00 USD1.00
NYSE Open Book Real Time USD25.00 USD60.00
NYSE Order Imbalances Free Free
OCX Data (OneChicago SSF) Free* Free*
OTC Markets Level I (Previously listed as PINK) USD3.00 USD24.00
TRACE (BTDS) Bond Data Not Available to Non-Professional Subscribers USD60.00
US Bond Real-Time Data USD1.00 9 USD1.00 9
US Commodities Exchanges Professional 10 Available as US Securities and Commodities Non-Professional Bundle USD10.00 5
US Option Exchanges USD1.50 14 USD27.00
(includes all exchanges)
US Russell Indices (RussellTick) USD2.00 USD5.00

1. Floor-based data generally only includes last sale, as there are rarely bid-ask quotes.

2. Please note that the Dow Jones Global Indices subscription is included as part of the US Securities and Commodities Non-Professional Bundle. This bundle does not include real-time price feeds for Arca and Pink Sheet securities and NYSE Liffe and InterContinental Exchange/New York Board of Trade commodity products. These require separate subscriptions.

3. NBBO is the top of book, representing the best bid and best offer from all contributing exchanges and ECNs. Full market depth includes orders that are outside of the NBBO and can allow traders insight into the strength of the total order book.

4. The US Securities and Commodities Bundle Non-professional Level 1 includes market data for stock, and futures products on: AMEX, CBOT, NYSE, and NASDAQ.

5. Free to clients who generate at least USD 30 per month.

6. Requires a subscription to the Toronto Stock Exchange Level I or Canadian Stock Bundle.

7. Requires a subscription to the Venture Exchange Level I Non-Professional, Canadian Stock Bundle Level 1 Non-Professional or Toronto Stock Exchange Level 1 Professional.

8. Non-professional must subscribe to the US Securities and Commodities Non-Professional Bundle or Professionals must subscribe to NASDAQ Level I data.

9. Waived for the first 3 months from date requested or if the bond commission exceeds USD 10/month.

10. Access to US Futures data requires customers to have US Futures Trading Permissions.

11. Includes options.

12. Subscribing to ArcaBook for Equities Professional will allow a customer to see ARCA Depth of book quotes and will only allow a customer to see top of book bid/ask if they Direct Route their quote to ARCA. For a last quote, the customer will need a subscription to NYSE CTA Network B (AMEX Professional - Level I).

13. Subscribing to AMEX Professional - Level I is the subscription, which will allow a customer to SMART route AMEX and ARCA listed stocks. AMEX Professional - Level I is also know as NYSE CTA Network B.

14. Free to clients who generate at least USD 20 per month in commissions.



Interactive Brokers Review and Website Link


Read full Interactive Brokers Review.

Interactive Brokers fees are as of 2014 and are subject to change. For the most recent information go to their website:


Interactive Brokers review 2014

This article was updated on 9/19/2014.



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