IB charges for overnight positions in ES/NQ?

Discussion in 'Retail Brokers' started by Stok, Oct 30, 2008.

  1. Stok

    Stok

    Have they always? Been going through fine print of fees, and see $0.40 to carry overnight? WTF is that about?
     
  2. HLB

    HLB

    you using unbundled futures pricing - being changed $0.10 per futures contract overnight
     
  3. IB charges $0.10 for each futures contract held overnight. It helps to maintain their 47% profit margin in their brokerage business.

    "Carrying charges are applied for each net futures contract, net short call futures options, or net short put futures options on a single underlying for each calendar day the net futures position is held overnight."
     
  4. Stok

    Stok

    gotcha...makes sense, been carrying 4 ES overnight at times. Well damn, we post FULL overnight margin to carry these positions, no need to ding us!!
     
  5. We get double dinged with the carrying charge because the commodities account is a separate account for credit interest calculations with its own $10,000 balance for zero credit interest on cash.

    Just appreciate your multiple contributions to IB's 47% profit margin.
     
  6. Daal

    Daal

    IB fees will get bigger now that their interest income will disappear
     
  7. ddog

    ddog

    Tradestation has been doing the same for some time, 10 cents per contract.