IB Charging quote fees now?

Discussion in 'Retail Brokers' started by ddefina, Dec 21, 2001.

  1. ddefina

    ddefina

    I logged into IB after the market close today and was greeted with a quote subscription sign-up? Do we need to pay fees now to get live quotes? I see $20 for Nasdaq and $120 for NYSE. Even though I use another quote service for quotes, it's nice to have something to compare to during the day. I now have to pay $140 per month for this? Is there a discount for a certain number of trades? Couldn't find any info on this.
     
  2. gh1

    gh1

    D:

    Are you registered as a "professional"?
    Or trade the futs?
    If you are forget what i am going to post

    If you just want quotes (equities) -- they'll cost you $10/mo, unless you have $30 in commissions.

    If you want LII -- get it somewhere else! They want 70-80/month


    This is all i known -- i am non-professional and am signed up for quotes only -- i easily have over $30 in commission, ergo no cost.

    I think they just want to weed out the folks who are using them for a no-cost quote provider.

    regards/greg
     
  3. ron2368

    ron2368

    I opened a small account last month mostly to try IB and eventually move more cash there. I have done 3 or so trades and they were very fast. This am I got the empty screen . I mean except for the symbols its totally blank, there is no way anyone with brains would sit entering orders in to it. Its like this, market order to buy at who knows what price. I dont even know if it will post a position once you do a trade, anyone know??, since then it will have to give you a price and it won't do that.

    Well anyway its 10 bucks a month for the data fees and thats no big deal( non pro). When you consider that a real time charting package like qcharts costs 80$ a month I guess $10 is a bit steep for a broker to charge its customers to get prices so they can trade. Qcharts charges 10$ for level 2 and IB charges $80 for L2, what does that tell you? So if you get IB with L2 you are paying as much as qcharts subscription for prices so you can place trades. wow

    They say the small accounts that dont trade and suck up data caused this so now they got to pay the $10. Thats fair. But if you dont have data you still get charged $3 for the blank screen. Given their primary reason this does not make sense.

    I saw on these pages that if you did 30$ in trades your data fee is rebated but that is no where to be seen on the IB website. Can someone find it?

    Yesterday I couldn't log on to IB. I was on the phone 20 min before I talked to someone. If I had actual trades thru IB that would have given me a stroke or diarrhea. I tried the chat help and that was totally duh. The tech guy on the phone was very good though. In general this frightens me, 20 min to wait, thats alot. Is this wait time common? What if you have a trade on, what can you do?
    Thanks
     
  4. gh1

    gh1

    gee ron

    welcome to IB -- there are many threads on IB's "short comings" in the Direct Access section -- let's not go there in this thread.

    even with that -- IB rocks! for a low cost, direct access trading platform -- that's it, that's all they are. Move on

    regards/greg
     
  5. ddefina

    ddefina

    That's good to hear the quotes are only $10 for Non-pro. I'm not a professional but apparently they think I am with the prices they are quoting me? I do about $70 per day in commissions so I should be fine. Is there some FAQ gh1 where you found this info?
     
  6. dkamp

    dkamp Guest

    Don't be put off by the IB promoters on this site. You are right on. IB's new quote charging policy is simply ridiculous, especially considering that they are not paying interest on the first $10,000 in an account, and the continuing problems with the reliability of their quotes. Not a single one of the many other brokers I've had experience with dares to charge for the quotes needed for simply entering orders. About the only good thing that can be said is that their latest policy is much better than the even more ridiculous one they first proposed about a month ago, thanks to the efforts of people on this board and Def.

    What they (we) really need is some good old competition in the price range of 1 cent/share and $5/RT. Until then, there appears to be someone at IB with too little to do, thinking up ways to embarass the company with silly attempts to take pennies from customers. They should give that guy something more useful to do, such as customer support, or have him take a serious look into improving the reliability of their quotes, or simply fire him and use his salary to pay for our quotes. :)
     
  7. Agreed - IB's quotes are not worth a whole lot. If you've looked at anything with any real volume (example: QQQ), the quotes are wrong continuously. I guess you can say that they show numbers in the general vicinity of the actual market.

    Level II on IB is a terrible ripoff. Go anywhere else for it.

    Bottom line on quotes: If IB's going to charge for real time quotes, then they should actually have to provide real time quotes.

    Speaking of Level II, when IB first said they would start charging for Level II, they said that their "Market Depth" window would still be available for those who do not sign up for Level II.

    However, it doesn't seem to be in all cases? Has anyone run into this?

    Thanks all.
     
  8. babe714

    babe714

    Originally posted by Wonderduck ]Agreed - IB's quotes are not worth a whole lot. If you've looked at anything with any real volume (example: QQQ), the quotes are wrong continuously. I guess you can say that they show numbers in the general vicinity of the actual market.

    I noticed their quotes were wrong too and I don't even trade stuff with volume . They were close though .
     
  9. dkamp

    dkamp Guest

    IB should hook up with one of those human cloning projects, make a bunch of Def clones, and replace most of their staff with copies of Def. Then we would have no problem getting them to stop painting targets on their head (refusal to support trailing stops, poor customer service, poor quotes, etc.) that just beg to be shot at. :)

    I love IB. Peace and love. Putting my gun away for Christmas. No more picking on IB by me for the rest of this year.
     
  10. gh1

    gh1

    ddefina:

    for a breakdown on IB fees
    go to their home page: http://www.interactivebrokers.com/
    in the main body page click on Complete Fees and Commisions
    then click on Market Data Fees

    All info is there

    regards/greg
     
    #10     Dec 22, 2001