The complicated thing is that your explanation makes too much sense and it is lacking an evil conspiracy theory to rip off the poor small retail trader
Not a sensible comment dreggs current spread prices are FTSE 5235.8 - 5237.8 Dow 10349 - 10355 S&P 1105.1 - 1105.7 You can check it out on Finspreads.com For instance - one could buy $100 on the Dow and if it went up 100 points then one makes $100 * 100 = $10,000 tax free And no I don't work for them before you ask
If only IB would not charge the DAILY carrying fees... I would move all my spread trading to IB if it were not for these fees. (They do add up for larger spread positions which are held for longer periods...) I know I can go 'bundled' but bundled commissions are not competitive anymore...
Free trade ??????? Not if it doesn't suit USA authorities/business hoods Take the example of on-line poker. It's obvious US casinos are desperate to keep poker players in their vast investment casinos and have bribed Congress to outlaw on-line playing. Playing from the comfort of home beats dragging all the way to an expensive hotel in a desert imho and only a noob would play roulette with a double zero double standards rule OK :eek:
Cheaper ? ? ? ? only if you are a total moron, you need to add spreads to the cost, they add like three or four times commissions to the 'normal' costs. DUH !
The OPs obvious agenda was to bash IB comission rates. His name relates to futures. He does not understand ECN rebates and will not listen to the IB rep. Why are you dogging on the subject when you could just read the comission schedule and move along? Because you have an agenda.
That tax cloud arising !! The Wall Street Journal brings more bad news. A headline reads "Lawmakers Weigh a Wall Street Tax." The first mention of this was in October. The proposal has not died as Congress seeks new ways to finance its profligate spending. Both houses are considering legislation. The tax would fall on financial exchanges of all kinds. It is not a tax on Wall Street. It is a tax on anyone who buys and sells securities. James Tobin originated the notion in the 1970s. Larry Summers supported it. Robert Kuttner supports it. Thatâs three Keynesian economists right there. It must be a bad idea. The tax seeks to raise $100 to $150 billion by taxing the value of every financial trade. The rate on stocks would be 0.25 percent. That does not sound like much, but itâs actually huge compared to what investors pay today when they transact. The brokerage cost of transacting is as little as $7 for a $10,000 or a $100,000 or even a $1,000,000 transaction. Thatâs 0.07 percent, or 0.007 percent, or 0.0007 percent, respectively. The transactions tax would be $25 or $250 or $2,500 on these transactions, respectively. Thatâs $25 added to $7, $250 added to $7, and $2,500 added to $7. Due to the quirks of influence-peddling, the proposed tax would be 0.02 percent on options, futures, and other derivatives. Hey might see a few of you ultra mobile guys over here ? P.S. Forget the shades but remember your brollies
this thread is a total scam..... anyone trading for any time knows the difference between direct access brokers and "EMAIL BROKERS"........AGREE 1000 % tyhe opening poster just wanted to bash IB and confuse people who are newbies looking for honest advice...