Like I don't get how they don't charge fees for anything. Seem so much cheaper than the hole in the wall Caribbean brokers that charge $200/mo platform/ECN/Inactivity/Live data/expensive per trade fees... Whats the catch other than 10k min.
The 10k min is no longer. You can use www.dastrader.com or www.esignal.com as front ends if you do not like TWS or www.medvedtrader.com or www.sierrachart.com if you want something cheaper.
Right. Where does it say what platforms you can use with IB? I dont see that listed anywhere. Also their own TWS is free correct?
Theirs data subscriptions and inactivity fees( waived or reduced if you pay “x” amount in commissions).
Not entirely correct. You can download their software tool TWS (or Gateway) for free. But you do have to pay a monthly fee if you want to have market data. You do have to pay to have orders executed. You do have to pay debit interest in case your cash gets in the red. And so on.
The catch is: Their debit-credit spread is quite wide from the trader perspective, (other retails just rip you off more) They make a lot of money in this. Market data fee and monthly activity fee. I think this is the best deal for most retail though.