Considering doing some execution at both IB and 2 other firms, and may want to domicile at IB. Does anyone have any experience with IB on this end. Any comments would be appreciated. Costs? "Cost * USD 1.00 per Take-up line item (plus exchange clearing + regulatory fees for options). " From their site. What exactly does this mean? 5 symbols traded AWAY one day, brought over to IB to settle. Each symbol traded 40 times. The (dvp) fee is 5/10 dollars? Thanks.
Take a look at the broker evaluations elsewhere on this site. There are 360 evaluations on IB and will give you a very good idea of their +s and -s.
I've been a customer at IB for several years. I'm referencing specifically their Prime Brokerage services. Thanks for your reply though.
Again people, I'm talking about the PRIME BROKERAGE / DVP service. NOT the regular end of the brokerage (which I use and am familiar with).
I am under the impression from conversations with my sales rep that the line item fee represents each symbol at each price executed at either bot/sld. This could add a $1 fee to EVERY DVP trade (plus fees) to the commish you pay at your away firm.
A line item depends on how your executing broker sends the trades to IB. They could be sending each trade, gross trades by symbol or net trades by symbol. The worst case is if you pay per trade, the best case is if you pay per symbol traded per day. Please feel free to contact a sales person on our institutional site; http://institutions.interactivebrokers.com/en/p.php?f=salesInfo&ib_entity=inst They would be glad to work with you to determine how your executing broker sends trades.