Def - help !! I clicked the unsubscribe button for market data in my IRA account (which you mentioned we'd be able to do) and received the message below. I'm not currently trading in my IRA and am waiting until I can just place trades via IB and obtain my quotes elsewhere. --------------------------------------------------------------------------- "You have not chosen any market data service to unsubscribe. Remember Non-Professional security accounts are required to subscribe to US Equity and Option Exchanges market data, and all Futures accounts are required to subscribe to Globex market data." --------------------------------------------------------------------------- Thanks def.
don't worry. as long as your account is linked to another account it does not look you will be charged. Here is the latest which you will receive via a communique later today: 1. US equity data will not be manditory 2. You will be able to trade US equities w/o recieving the data feed 3. If you do not subscribe, there will be a minimum of $3 monthly fee which will be waived if there is more than $3 in monthly commissions. 4. The Globex feed will not be manditory 5. Futures customers must subscribe to a data feed for at least one exchagne 5. For customers with multiple accounts, the account with the greatest amount of cash will be charged as an added kicker the fees for Gobex minis will be reduced to $2.40 a side - all in effective Dec 1.
Thanks for the update Def. Personally, I think it's makes more sense to provide an inactive account setting: that way IB can earn money on the interest rate spread (ie, by not paying interest on the first $10K of cash) on the cash balances, and users can avoid paying fees until they are ready to trade. With the current policy, what will happen is that people like me will close accounts that they currently are not trading at IB. This in my opinion is a lose-lose situation. -- Punter
as an added kicker the fees for Gobex minis will be reduced to $2.40 a side - all in effective Dec 1. [/B][/QUOTE] $4.80 a r/t vs the old $5.9 a r/t?? Impressive
def - that's great news !! Thank you for your continued outstanding support on behalf of IB current/potential customers.
Hello, I am almost only trading at the German IBIS exchange using a multi currency accout. IB is now beginning to charge market data fees for that exchange. They are 8 Euro for the Xetra (=IBIS) plus 12 Euro for the marketdepth. But unlike US customers there is no possibility that IB will waive that fee if over a certain amount of commissions is gernerated. I think it would be a good idea to introduce that! I have a couple hundred Euros in commissions generated every month. If there will be no possibility to waive that fee, I am sure less european customers will be willing to go to IB. Another point is, that many people will decide to take the cheapest version of the marketdata (only the 8 Euros without marketdepth, or no data at all, if possible), because they pay for a marketdatasystem anyway. And I am sure that the less comfortable trading that will result, is leading to less over all trading!!! Thus there will be less commissions generated. I have full understanding, that IB would like to cut the expenses for the fees and pass them on to the customer. I do not need to be subscribed to all exchanges. This way there can definately money be saved, by only subscribing to those exchanges that are used by a customer. But to get the data of the marketplaces, that I need for monitoring in order to trade in a quick way, for free when over a certain amount of commissions are generated, would be of interest for BOTH SIDES. IB will definately have a higher trade volume and the customers would be perfectly satisfied as well! Please do not forget about us european customers!!! Thanks. drlenny
Checked my euro futures a/c, and it says I must subscribe to globex! I have a US futures a/c and don't mind paying for globex access, but what is the sense in charging fees for globex in a euro futures a/c that cannot trade these products! Can't wait to have a multi-currency a/c so everything can be consolidated.
Today's ib communique' says: "If you have a US equity or option account, you may choose to receive no market data. In this case you will be charged an inactivity fee of $3 on the first of each month, less any commissions you spent in the preceding month. These accounts may trade without market data." Isn't this ridiculous?!!!!!