IB Futures Commission?

Discussion in 'Retail Brokers' started by cclee, Jul 22, 2002.

  1. cclee


    Hi there,
    Futures newbie here. First day of trading NQ, satisfied with results.

    Looking at P&L statement, and I'm a bit confused...

    I thought IB charged $2.40 per contract/per trip. So it's $4.80 roundtrip per contract.

    However, after looking at my account info, it looks like the commission rate is $2.40 roundtrip per contract.

    I'm still confused after looking at the IB help. :) Could someone kindly help?

  2. Its 4.80 per round trip. Definitely.
  3. They charge 2.40 a side, 4.80 a round trip. 2 sides = 1 round trip.
  4. cclee


    Thanks for your answer. :)
    Does IB sometimes report some commissions "late"?

    I'm just trying to find out why my account balance seems to be missing half-a-trip of commission.

    Hmm.. Actually, now that I'm looking at it even closer, I'm realizing what's strange.

    The P&L in my main screen says: $260.
    (I verified this through downloading my report and double checking).

    My Account Info says: Futures P&L $315.

    Something's not matching up here I guess.
  5. Are you sure you don't have an open position? Anyway you get your commissions reported the next day in the email. I was never clear when the balance in the account info got marked to market etc... I don't believe it is continuously updated. They haven't missed a commission with me yet so I would not worry about that.
  6. cclee


    Nope... No open positions. :)

    Still trying to figure out why my main layout P&L says $260 and my Account Balance (defnitely up to date) says Futures P&L $315...

    I've double checked my exported trades twice. It matches up with the $260 figure. Maybe they gave me some extra $ for being a newbie, haha. :)

    I'll just wait for tonight's IB account summary to figure it out I guess.
  7. Were your last few trades losses? The account info may not have marked your account to market since you made those trades. They'll add it all up at the end of day.
  8. cclee


    Hi Puffy,
    Thanks for answering. :)

    Well, that doesn't make sense either, because my main account P&L should be lower than the TWS P&L, if commission is taken out. (This is in response to your deleted post )

    It's almost as if I got a better price somewhere in my trades, and it's not in the report.

    Next on Unsolved Mysteries...
  9. Look at your execution report of your confirmed trades. Add it up. Subtract 4.80 per round turn. The account info may not have marked all your trades in your account to market yet. Make sure you don't have any pending trades.
  10. cclee


    Checked everything several times...
    I'll just wait until tonight for the offical account summary to solve the mystery I guess.

    Thanks for your patience!!
    Happy Trading. :)
    #10     Jul 22, 2002