IB Are You EVER Going To Give Us Commission Details?

Discussion in 'Interactive Brokers' started by Shreddog, Feb 11, 2007.

  1. lescor

    lescor

    Maybe they don't have an answer to this one....
     
    #21     Feb 20, 2007

  2. maybe they are waiting for it to be voted on, if/when it is added to the Feature Poll.:D
     
    #22     Feb 20, 2007
  3. GTC

    GTC

    The topic is in the feature poll as giggollo pointed out: http://www.elitetrader.com/vb/showt...068#post1325068.
    May be IB can have a collapsible sign "+" in the new statement under commissions. So, by clicking that collapsible sign "+", one would be able to view the commission details. In that way, it would not clutter the statement.
     
    #23     Feb 20, 2007
  4. #24     Feb 21, 2007
  5. maybe they are waiting for people to forget this thread.
    maybe they are waiting to hunt us more money and delay the issues.
     
    #25     Feb 27, 2007
  6. has IB started to report the commish details?
     
    #26     Mar 9, 2008
  7. shortie,

    Thanks for bringing this issue up to our attention.
     
    #27     Mar 9, 2008
  8. fbell50

    fbell50

    While I believe IB tries to charge unbundled commissions correctly, you cannot trust that they will. Some months ago NYSE changed their fees substantially. IB did not come close to correctly charging the new fee schedule, resulting in substantial overcharges. It took me 1-2 months of nagging to get them to acknowledge and fix the problem. There is a thread I started that discusses this in detail.

    Before this I had naively thought that IB just passed on the cost as it was billed by the exchange, now I know that they attempt to emulate it.

    My solution was to write a Perl script to calculate commissions and fees. Periodically I spot check individual trades to see if their commissions match what I expect. For me this works well because 99% of my orders are well defined as adding liquidity or MOO/MOC. I don’t have to worry too much about whether my limit order is taking or adding liquidity because they are placed long before the market reaches my price.

    Of course this means that I have to keep up-to-date with exchange fee schedules, but they don’t change too often.
     
    #28     Mar 16, 2008