The statement reads "per customer". I guess that doesn't mean per account. So if I have an IRA, regular stock'n'opts, and a corporate account where I am the authorized trader, I should only be charged one fee? Would the fee also be based on the aggregate commission volume? For instance, I won't accrue $30 per month commissions in my Roth IRA but easily will in the other accounts individually. None of this matters if we do not have to subscribe at all to ANY quotes from IB. I have two other services now that I use. Up until now, if the IB TWS was unable to get a quote for my order, it would refuse to process the order. I would get an error stating "unable to value order at this time" or something to that effect. My question now is: Can we have the option to turn off IB quotes completely by not subscribing to anything, then still have the orders process? This is a bigger deal for the wife's IRA, who will get hit $120 per year. I'll send this to IB help Monday if nobody here knows. Thanks
The problem with level 2 quotes right now, is that when you click on a specific price, mm, or ecn and the "buy or sell" opens up, it defaults to the amount of shares shown on the level 2 screen. Is it possible to make it so that the users defaulted amount amount appears instead? For example, I want to buy a stock, I click on the price I want to buy it at on my level2 screen, the buy order pops up on the tradestation for the default amount of shares that I've selected previously, assuming I use the "best" function to buy or sell stocks, I hit "transmit" and the order is placed. Also, it would be nice to have different font and color selections for the level2 quotes as well. Thanks, shneed
Ouch !! Am I going to be zapped $ 10 a month in my IB Roth IRA account ? Nothing like seeing my retirement money depleted on a monthly basis just for holding a long term portfolio. At the very least - I'd like the choice of paying for the fee separately from my IRA account. For example, my wife's account was decimated by her investment in EXDS. She bought it at 99 cents - it's now around 16 cents. Her account would be ravaged by being depleted $ 10 month after month. And I support the comment made about not paying IB exchange fee if you're already paying for it elsewhere - such as some of the data feeds that support QuoteTracker. http://www.quotetracker.com/money.net/
$79 for L2 quotes is a ripoff. NAS only charges $10 for L2 non-pro. I don't think IB needs to provide such L-2 quotes. Concentrate on building stable ECN links. flier
True. IB should only charge $10 for the Level II. Nobody is going to pay $79 for Level II especially if the service does not include charts and T&S. Not too sure they would go for it then. Everyone is already using Level II, charts, and T&S from someone else. But I would rather have this option and keep the commissions down, instead of having the commissions go up.
ktm - "Can we have the option to turn off IB quotes completely by not subscribing to anything, then still have the orders process? This is a bigger deal for the wife's IRA, who will get hit $120 per year." That's an excellent idea. I'd rather just place trades with IB and get my quotes elsewhere. $ 120 fee in an IRA account is ridiculous - it's actually $ 240/year for us since both my wife and I have IB IRA accounts. :eek: def - please use your influence and help us out. Thanks.
IB, Since I am already paying the non-pro $10/month fee via eSignal for the emini quotes, I should not have to pay it again! Or if I do, how do I not receive the quotes but yet be able to enter an order for the emini, NQ? Humm.
i'll bring these comments to the attention of the approriate people. keep in mind, if you do more than 30 bucks in commission per month there is no charge. the flip side which i assume went into the decision to pass on exchange fees is that there are thousands of non-active accounts. if the company must pay exchange fees for those accounts, then it might have to be covered by higher commissions.
Thanks def. Please have IB consider a different fee structure for IRA accounts and the option of electing out of receiving quotes from IB and obtaining them elsewhere. For IRAs, customer accounts may grow to be quite sizable in the future and I would think IB would encourage (i.e not create disincentives) for such accounts. I wouldn't mind paying $ 10/mo (independent from my IRA) if IB worked with a company like QuoteTracker. http://www.quotetracker.com As for the non-active accounts - just charge them a non-activity fee (e.g. to cover expenses such as exchange fees) or have them opt out of receiving quotes from IB. IB is probably losing money on these accounts due to the inactivity - and we don't want their inactivity to hurt the rest of us. IB is in great financial condition - therefore I don't think it is necessary to impose across the board new fees on all traders/investors. Some of the proposed solutions on this thread will ensure that IB bottom line is protected. Above all, please leave the IB commission structure alone.