Classification of "professional" on IB

Discussion in 'Retail Brokers' started by adamchubb, Oct 27, 2017.

  1. anyone being forced to be classified as "professional" on IB? the professional market data fee is much higher, and you'll have to pay pro fee for all exchanges worldwide, not just US exchanges. i'm trying to see if they can separate the "pro vs non-pro" classification for US and non-US exchanges, so that individual user can still pay non-pro fees for non-US exchanges. If you've encountered the same issue, please voice out to them and ask them to take a look at this problem.
     
  2. Robert Morse

    Robert Morse Sponsor

    This is not an IB thing. In general, an account of a "natural person" is non-pro. Any entity of any kind or anyone with an RIA, CTA is pro market data.
    https://ibkr.info/node/2369
     
  3. i understand your point. That's NYSE and other US exchanges requirement. But that is not required by non-US exchanges. IB implements it for all US and non-US exchanges. Individual users being classified as "professional" by US exchanges are forced to pay pro fee for non-US exchanges as well.
     
    tommcginnis likes this.
  4. Robert Morse

    Robert Morse Sponsor

    I can't help with that one.
     
  5. tommcginnis

    tommcginnis

    As soon as you take a (FA) fee, you're a pro.
     
    Autospreader likes this.
  6. Robert Morse

    Robert Morse Sponsor

    FA?
     
  7. Fck Arse
     
  8. Overnight

    Overnight

    I am guessing that means financial advisor.
     
    tommcginnis likes this.
  9. Yep learned that this year. Had a situation where someone wanted me to trade there $. And got hit with pro data fees when I set up to take a slice of profits
     
    tommcginnis likes this.
  10. Are single-person, single-account entities required to pay pro fees?
     
    #10     Oct 28, 2017