wait, so if you have 500k on account and have overnight margins of 100k, even though you have cash excess, they still charge you interest?
Everything is negotiable, depending on the volume traded. Since the past few years I just use Tradestation and IB. IB has 2 different price structures. The "non fixed" can be interesting, but has overnight fees. Tradestation overnight fee is $0.10
Actually Advantage accepted to skip the overnight fee but gave me their regular commission schedule( which is still OK in my book ). I guess they are able to make money on cash again. We are not at 0% interest rates anymore...
Lightspeed/wedbush Lower commission and much larger firm I would check on that waiving overnight interest at advantage. It seemed pretty solid just a few months ago when they chased me and another bigger player than myself.
The broker asked his boss and the boss said for the size of the account( 250K$) and given I usually only use 1/2( max 2/3) of the account in overnight margin, they could waive it. I am in Europe and they are pretty aggressive at chasing clients here as they are creating an office in Dublin.