Better Money Management than IB?

Hi folks,

I've been with IB for years now, however the cost of them not paying me interest on the first 10 grand (haven't checked real recently, but I assume this is still the case, judging by the interest payout I am getting from them) is growing with each interest rate hike, now at about $300/yr just for the pleasure of parking one's money there and no T-bill margin option like most futures brokers have.

I have plenty of ideas about where to move my futures business, however I am looking for a stock broker who has commissions comparable to IB or even a little higher (I usually trade 100 shares or less at a time so that is one buck per trade) but has good money management such as a daily sweep in/out of money market account.

Any suggestions?

Thanks in advance!

Peter Dalton

 

Have you found any alternative broker?

 

http://www.lowtrades.com/

 

MB Trading. They do pay interest on all funds in your account.

http://www.mbtrading.com/ratesStocks.asp

 

Yes, it is still the same.

Apart from the fact that there's no interest for the first 10k, IB calculates interest separately on each balance (per account and per currency). You should note this adverse effect on your interest receviables.

Here's what I found: