has IB raised commissions?

Discussion in 'Retail Brokers' started by jaan, Jan 5, 2002.

  1. jaan


    anybody else noticed that (some?) SUPERSOES fills now cost considerably more than $0.01? here's an excerpt from our account statement:

    buy 600 VRST @ 18.56, BEST:
    380978 P VRST ... SUPERSOES 100 18.5200 -1852.00 -10.50
    380979 P VRST ... SUPERSOES 100 18.5300 -1853.00 0.00
    380981 P VRST ... SUPERSOES 100 18.5400 -1854.00 0.00
    380982 P VRST ... SUPERSOES 100 18.5500 -1855.00 0.00
    380983 P VRST ... SUPERSOES 100 18.5600 -1856.00 0.00
    380984 P VRST ... SUPERSOES 100 18.5500 -1855.00 0.00

    $10.50 for a 600 share order equals $0.0175/share. plus, that wasn't the only overcharged order in the statement. to me it looks like IB has started to pass some SUPERSOES fees to customers. there's no mention of it on their website though, so this could simply be a bug in the account statement (i cannot check this with the IB on the weekend).

    - jaan
  2. I just checked my statement for Friday's trades. I had several orders executed through supersoes and they were all charged .01/sh
  3. bouncer


    Yea something IS going on with the commissions but it seems to have something to do with partial executions.

    On Friday for example all straight fills were charged the usual commission but the partials were more.

    2000 shares of XYZ in partial executions was $14.50 instead of $12.50.
  4. mskl


    I noticed the same on my daily statements. It isn't just on SUPERSOES orders.

    I noticed this with all trades. A five hundred lot split up into two fills is charged $6 (an extra $1). A five hundred lot split up into three fills is charged $7 (an extra $2). It appears every partial trade you make for each order is charged an additional $1.

    It must be a mistake. They will probably change this soon. I can't see them charging twice as much for 500 lot order if filled 100 shares at a time as opposed to 500 filled immediately.
  5. Htrader

    Htrader Guest

    I noticed the same thing. Every extra partial fill on an order is charged an extra dollar. I hope everyone writes to IB and complains about this.
  6. Same here on Friday trades. There's certainly nothing on their website explaining this. Normally, they notify you via e-mail before a commission change. I have sent email asking explanation. Where's def?
  7. jsmith


    I never really pay attention to the commission but because you guys said it. I got charged $1 for each partial.

    P NVDA NVIDIA CORP ISLAND -200 70.1700 14034.00
    P NVDA NVIDIA CORP INSTINET -200 70.1700 14034.00
    P NVDA NVIDIA CORP INSTINET -100 70.1700 7017.00

    I sold 500 shares, that should be $5, but since
    it was divided into 2 other orders, they added $2 to it.
    I got just about $1 added to just about every
    buy and sell order. The commissions are still cheap,
    but this a big step back for IB. I hope it was just a
    mistake but I don't think so.
  8. agent99


    I rarely look at the commissions either, but these posts prompted me to. All of my Friday trades but one were correct. The incorrect one cost an extra dollar for a partialed trade of 500 shares. It was a QQQ opening short done on Island. I had other partialed trades which were correct though so whatever the glitch is, it's not universal. I also went back two weeks and looked at commissions and those dates all looked fine.

  9. I have not noticed any change in the commission. I hope they don't start charging extra fees. I used to trade with CyberTrader and they added extra charges all the time. That was the only reason I dropped CyberTrader is because of all the extra charges.
    #10     Jan 5, 2002