Recently the local brokerage which I used has just increased its commission rate so I am looking for another brokerage firm now. A lot of you guys use IB, so how good or bad is the normal exchange rate in IB when you need to exchange money like European dollars to US dollars? I know there is monthly fee to get live data or something like that, what is that cost for you per month? Any other cost in your IB statement other than trading commission and tax? One more, do we need to pay profit tax if we trade and win money in US market even I am not a US citizen?
One exchange currency through their idealpro Platform, right now eur.usd spreaqd is 0.5pip and pay commission on top of that, around 2usd/100000. Exchanging currencies through idealpro and beeing able to remit a bunch of them overseas with minimal costs is one of the pluses of IB imo. Data fee depends on what you need, but as an individual trader one pay monthly 10usd for level 1 US stocks , and maybe 2usd for options, waved if trading over 30usd per month. For overseas markets one often need to pay extra, but the detailed costs must be on their website