Has anyone managed to negotiate lower fees with IB?

Discussion in 'Retail Brokers' started by tonyf, Feb 14, 2019.

  1. Sig

    Sig

    I wouldn't be surprised if they did. They're pretty pathalogical about their one size fits all, minimum service fully automated offering. For starters you'd have to find someone there with more than a double digit IQ to even be able to ask, good luck on that front.
     
    #11     Feb 14, 2019
  2. tonyf

    tonyf

    Made the call: they need 3 months of trading in excess of 300k shares per month. They offered to start 4th month in second pricing tier: savings of 450 bucks per month.
     
    #12     Feb 16, 2019
    d08 and nooby_mcnoob like this.
  3. qlai

    qlai

    Given what Sig said, I wander how many people you had to go through to get the answer?
     
    #13     Feb 16, 2019
  4. tonyf

    tonyf

    Keep in mind that you are eligible for IB Prime if ypu have more than 1m in your account. You then get an specific account manager.
     
    #14     Feb 16, 2019
  5. Hmm, what is IB prime?
     
    #15     Feb 16, 2019
  6. Ryan81

    Ryan81

    It's like Amazon Prime. They advertise that they'll deliver your shares sooner, but in practice, you just get them at the same slow speed.
     
    #16     Feb 16, 2019
    sid8888, Cdntrader, Sig and 1 other person like this.
  7. Sig

    Sig

    Note I didn't say you will have a hard time finding a person, just finding a person with more than a double digit IQ. I can tell you at least one "specific account manager" missed that mark by at least a standard deviation.
     
    #17     Feb 16, 2019
  8. tonyf

    tonyf

    Who do you trade with?
     
    #18     Feb 16, 2019
  9. Sig

    Sig

    Mainly TDWaterhouse at the moment but only because of the somewhat unique way they price SPX options commission and the fact I'm trading mostly those these days. Not necessarily the best broker if you're doing anything else, but it is refreshing after IB to get an intelligent person with securities industry knowledge on the phone 100% of the time, even more refreshing to only have to call them a couple times a year because they don't do any unexpected or just plain wrong shit like IB does all the time.
     
    #19     Feb 16, 2019
  10. tonyf

    tonyf

    Is there any money left in SPX? What is your net annualised return om these?
     
    #20     Feb 16, 2019