Stock Broker Reviews




IB.com review 2010



Interactive Brokers Fees, Margin Rates, Interest, Trading Tools Charges for 2010



Cancel/Modify Orders

 

Many exchanges charge fees to their members for orders that are cancelled or modified, and IB charges certain related fees to its customers to help cover these exchange fees. Please note however, that the Modify/Cancel fees listed below may not be a direct "pass-through" of exchange fees in all cases as IB has created cancellation policy based on ease of implementation and proper resource allocation.

 

Asset/Order Origin Routing Venue Fee per Order(6) Execution Credit (1) (4) Example
US Stock orders
API Directed All USD 0.12 USD 0.24 per API Directed execution  
API Smart   None N/A  
TWS Directed and Smart All None N/A  
US Options orders(2)
  Smart(3) As charged by the exchange(5) USD 0.25 per executed contract, capped at USD 3.75 per order (up to 15 contracts per order) If a customer buys 20 contracts, the credit of $0.25 is given only for the first 15 contracts, and is capped at 1/3 of the commissions paid for the first 15 contracts:

20 contracts at $0.25/contract in commissions =
a credit of 15*0.25*1/3 = $1.25
  AMEX USD 1.25 USD 0.20 per executed contract, capped at USD 1.20 per order (up to 6 contracts per order) If a customer buys 20 contracts, the credit of $0.20 is given only for the first 6 contracts, and is capped at 1/3 of the commissions paid for the first 6 contracts.

6 contracts at 0.70/contract in commissions:
cap = min($1.20, $0.70*6*(1/3)) =
min($1.20, $1.40) = $1.20

6 contracts at $0.25/contract in commissions:
cap = min($1.20, $0.25*6*(1/3)) = min($1.20, $0.50) = $0.50
  BOX USD 0.10 USD 0.05 per executed contract, capped at USD 0.10 per order (up to 2 contracts per order) If a customer buys 20 contracts, the credit of $0.05 is given only for the first 2 contracts, and is capped at 1/3 of the commissions paid for the first 2 contracts.

2 contracts at $0.70/contract in commissions:
cap = min($0.10, $0.70*2*1/3) = min($0.10, $0.47) = $0.10
  CBOE USD 2.00 USD 0.33 per executed contract, capped at USD 1.98 per order (up to 6 contracts per order) If a customer buys 20 contracts, the credit of $ 0.33 is given only for the first 6 contracts, and is capped at 1/3 of the commissions paid for the first 6 contracts.

6 contracts at 0.25/contract in commissions:
cap = min($1.98, $0.25*6*(1/3)) =
min($1.98, $0.50) = $0.50
  ISE USD 2.00 USD 0.33 per executed contract, capped at USD 1.98 per order (up to 6 contracts per order) If a customer buys 20 contracts, the credit of $0.33 is given only for the first 6 contracts, and is capped at 1/3 of the commissions paid for the first 6 contracts.

6 contracts at 0.25/contract in commissions:
cap = min($1.98, $0.25*6*(1/3)) =
min($1.98, $0.50) = $0.50
  PHLX USD 2.10 USD 0.35 per executed contract, capped at USD 2.10 per order (up to 6 contracts per order) If a customer buys 20 contracts, the credit of $0.35 is given only for the first 6 contracts, and is capped at 1/3 of the commissions paid for the first 6 contracts.

6 contracts at 0.70/contract in commissions:
cap = min($2.10, $0.70*6*(1/3)) =
min($2.10, $1.40) = $1.40
  PSE USD 0.10 USD 0.05 per executed contract, capped at USD 0.10 per order (up to 2 contracts per order) If a customer buys 20 contracts, the credit of $0.05 is given only for the first 2 contracts, and is capped at 1/3 of the commissions paid for the first 2 contracts.

2 contracts at $0.70/contract in commissions:
cap = min($0.10, $0.70*2*1/3) = min($0.10, $0.47) = $0.10
EUR Options and Futures orders
TWS and API All EUR 0.50 EUR 2.50 per Eurex execution in the same product on the same day.  

 

Orders with a time in force that specifies an expiration time, such as GTC, will be assessed cancel fees according to the above schedule.

 

 

Withdrawals

 

After the first withdrawal (of any kind) in a month, IB will charge the following withdrawal fees for any subsequent withdrawal:

 

Base Currency Wires Checks ACH/EFT SEPA
USD 10.00 4.00 1.00 N/A
AUD 15.00 N/A N/A N/A
CAD 12.00 N/A 2.00 N/A
CHF 11.00 N/A N/A N/A
EUR 8.00 N/A N/A 1.00
GBP 7.00 N/A N/A N/A
HKD 95.00 N/A N/A N/A
JPY 1,600.00 N/A N/A N/A
MXN 100.00 N/A N/A N/A
NZD 15.00 N/A N/A N/A
SEK 50.00 N/A N/A N/A

 

 

Deposits

 

Due to third-party fees to IB, we will pass on a portion of these fees. After the first deposit (of any kind) in a month, IB will charge the following deposit fees for any subsequent deposits.

 

Base Currency Deposit Amount Wire Fee
MXN Less than 250,000 100

 

 

Exercise and Assignment Fees

   
Stock Options Free
US Index Options Free
Non-US Index Options Charged the option commission if in-the-money.
Out-of-the-money - free.
Futures and Futures Options Charged the futures options & futures commission.
Charged fees at expiration.
Bundled fees are charged even if the customer has elected unbundled schedule.


ADR (American Depository Receipt) Fees

 

The Depository Trust Company (DTC) collects custody fees on behalf of ADR agents for ADRs which do not pay periodic dividends. The fees are deducted by DTC in monthly billing and will be passed to accounts which held the ADR on the record date.

For additional information on the fee IB recommends that you consult the ADR prospectus.


Type
Pass-Thru Fee
ADR Fee
Range of 0.01 to 0.03 per share


Miscellaneous


Base Currency Telephone Orders
Check Stop Payment
Bounced Check Fee
Archived Statements(1)
Cash Deposits(2)
       
Tier I
Tier II
Fee Minimum Charge
Australian Dollars (AUD) AUD 35/order N/A N/A AUD 30/first statement, AUD 6/each additional statement. AUD 60/first statement, AUD 10/each additional statement. 1% AUD 60
British Pounds (GBP) £20/order N/A N/A GBP 15/first statement, GBP 3/each additional statement. GBP 35/first statement, GBP 5/each additional statement. 1% £35
Canadian Dollars (CAD) CAD 30/order N/A N/A CAD 25/first statement, CAD 5/each additional statement. CAD 55/first statement, CAD 12/each additional statement. 1% CAD 50
Euros (EUR) €25/order N/A N/A EUR 20/first statement, EUR 5/each additional statement. EUR 40/first statement, EUR 10/each additional statement. 1% €40
Hong Kong Dollars (HKD)(3) HKD 235/order N/A N/A HKD 200/first statement, HKD 40/each additional statement. HKD 400/first statement, HKD 80/each additional statement. 1% HKD 400
Japanese Yen (JPY)(3) JPY 3,000/order N/A N/A JPY 2,500/first statement, JPY 500 each additional statement. JPY 5,000/first statement, JPY 1,000 each additional statement. 1% JPY 5,000
Korean Won (KRW)(3) KRW 35,000/order N/A N/A N/A N/A   N/A
Indian Ruppe (INR) INR 1,500 N/A N/A N/A N/A   N/A
Mexican Pesos (MXN) MXN 400/order N/A N/A MXN 325/first statement, MXN 70/each additional statement. MXN 650/first statement, MXN 140/each additional statement. 1% MXN 650
New Zealand Dollar (NZD) NZD 45 N/A N/A N/A N/A 1% NZD 70
Norwegian Krone (NOK) NOK 200 N/A N/A N/A N/A 1% NOK 300
Swedish Krona (SEK) SEK 250/order N/A N/A SEK 200/first statement, SEK 40/each additional statement. SEK 400/first statement, SEK 80/each additional statement. 1% SEK 400
Swiss Francs (CHF) CHF 35/order N/A N/A CHF 30/first statement, CHF 6/each additional statement. CHF 60/first statement, CHF 10/each additional statement. 1% CHF 55
US Dollars (USD) USD 30/order $50.00 $25.00 USD 25/first statement, USD 5/each additional statement. USD 50/first statement, USD 10/each additional statement. 1% USD 50


Interest Charged on Debit (Negative) Cash Balances


BM = Benchmark Rate

Currency Tier I
Balance
Amount Charged on Balance
<=Tier I
Amount Charged on Balance
>Tier I
Tier II
Balance
Amount Charged on Balance
> Tier II
Tier III
Balance
Amount Charged
on Balance
> Tier III
USD 100,000 1.7%
(BM + 1.5%)
1.2%
(BM + 1%)
1,000,000 0.7%
(BM + 0.5%)
3,000,000 Greater of 0.5%
or
(BM + 0.25%)(1)
AUD 120,000 6.06%
(BM + 1.5%)
5.56%
(BM + 1%)
1,200,000 5.06%
(BM + 0.5%)(1)
N/A N/A
CAD 110,000 2.253%
(BM + 1.5%)
1.753%
(BM + 1%)
1,100,000 1.253%
(BM + 0.5%)(1)
N/A N/A
CHF 120,000 1.59%
(BM + 1.5%)
1.09%
(BM + 1%)
1,200,000 0.59%
(BM + 0.5%)(1)
N/A N/A
EUR 80,000 1.978%
(BM + 1.5%)
1.478%
(BM + 1%)
800,000 0.978%
(BM + 0.5%)(1)
N/A N/A
GBP 70,000 2.051%
(BM + 1.5%)
1.551%
(BM + 1%)
700,000 1.051%
(BM + 0.5%)(1)
N/A N/A
HKD 780,000 1.55%
(BM + 1.5%)
1.05%
(BM + 1%)
7,800,000 0.55%
(BM + 0.5%)(1)
N/A N/A
JPY 10,000,000 1.613%
(BM + 1.5%)
1.113%
(BM + 1%)
100,000,000 0.613%
(BM + 0.5%)(1)
N/A N/A
KRW 120,000,000 4.29%
(BM + 2%)
3.79%
(BM + 1.5%)
1,200,000,000 3.29%
(BM + 1%)(1)
N/A N/A
MXN 1,250,000 7.945%
(BM + 3%)
6.945%
(BM + 2%)
12,500,000 6.445%
(BM + 1.5%)(1)
N/A N/A
NOK 650,000 3.505%
(BM + 1.5%)
3.005%
(BM + 1%)
6,500,000 2.505%
(BM + 0.5%)(1)
N/A N/A
NZD 150,000 4.25%
(BM + 1.5%)
3.75%
(BM + 1%)
1,500,000 3.5%
(BM + 0.75%)(1)
N/A N/A
SEK 750,000 2.06%
(BM + 1.5%)
1.56%
(BM + 1%)
7,500,000 1.06%
(BM + 0.5%)(1)
N/A N/A
SGD All(1) 2.266%
(BM + 2%)
2.266%
(BM + 2%)
N/A N/A N/A N/A



IB Fees are as of July 2010 and are subject to change. For most recent information go here:

IB.com review 2010



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