Hello! My first post on Elite Trader. I'm planning on doing some day trading in the future. I want to open a margin account at Interactive Brokers (already own one, the margin account will be linked to the other one). But i have some questions about margin interest. Let's say i will borrow around $2000 a day. How much will the margin interest be? I've read some articles and i found somewhere that the margin interest is calculated on the average you borrow a day. So by using IB's calculator we have: Your blended rate for USD = 1.67% and Interest Charged: 33.4 which they say will be deducted in the third day of the following month. But if we take it this way: $2000 x 20 days (a month) = Interest Charged: 668. The second one seems pretty much and i don't see how you're supposed to do any profit if the fees are going to be so big. Can anyone tell me if any of the above is correct? Thank you!