IB Lowers Futures Commissions

Discussion in 'Events' started by Steve_IB, Oct 19, 2005.

  1. Steve_IB

    Steve_IB Interactive Brokers

    CPT - if you would like an all-in rate, then you can just select the Bundled Commissions. These are offered for clients that prefer to deal this way. Data fees are charged by the exchange - if we priced these into your fees you would end up paying more.

    Every fee charged to your account is listed under the Fees section of our website. There's nothing hidden.

    There is a large additional risk of overnight positions, without going into details, gaps are an obvious risk. Carrying charges are only applicable to the unbundled rate. The unbundled rate is split because we have many different types of customers who trade different products and in some cases have a status which entitles them to reduced exchange fees (exchange programs).

    My suggestion: look at your last monthly statement. Calculate how much you paid in bundled fees and compare to what you would have paid in unbundled fees. It may take 10 minutes, but the savings may well be worth this time.
     
    #51     Oct 26, 2005
  2. Look guy, it's real simple. You can pay the bundled rate. It's one flat rate, all-in.

    You're simply given an option with the unbundled rate which can benefit you IF your volume is high enough.

    OldTrader
     
    #52     Oct 26, 2005
  3. Thanks OldTrader & SteveIB
     
    #53     Oct 26, 2005
  4. IB person,

    I have a question about the server-reset/mainainance/down time issue.

    In another thread, I read HongKong server downtime is around 16:00 EST.
    FX futures of GLOBEX, downtime is 17:00-18:00 EST, so the timing is bearable if I chose HK server.

    Another issue I would like to confirm.
    Conditional order etc are simulated on IB server side, not customer local PC-TWS software simulatated, correct? I also wonder how the IB server reset affects these simulated orders. Are they cancelled?

    Thanks.
     
    #54     Oct 27, 2005
  5. Steve_IB

    Steve_IB Interactive Brokers

    SmoothTrader:
    Yes, that's right for the HK time. Server reset times are listed on the System Status page here:
    http://www.interactivebrokers.com/en/software/systemStatus.php?ib_entity=llc

    Simulated orders are on the IB-server side, not the PC. Simulated orders will not be cancelled but they will not work during the reset.
     
    #55     Oct 27, 2005
  6. Ok clarified, thanks.
     
    #56     Oct 27, 2005
  7. Actually, not.

    Accoding to the site you linked, the downtime is 04:05 – 04:15 HKT@ HK server.

    Now it's summer time EST(EDT), so it's equals to 16:05- which is bearable, however, once summer time ends on Sunday next week, 04:05HKT = 15:05EST, correct? Which is not bearable.

    I always have an inferior impression of IB when finding this server downtime. Cannot believe they still cannot offer a decent server-up time that the other futures broker or FX shop can.

    They offer IDEAL for FX trading now, but I would say as long as you won't solve this server downtime hour issue. Traders won't never take this IB exchange seriously.

    It's not like ONLY30min or native order would work stuff. You know what I mean.
     
    #57     Oct 27, 2005
  8. Steve_IB

    Steve_IB Interactive Brokers

    Smoothtrader, Yes it will be 15:05. The downtime for you will not be one hour. It will be 10 minutes maximum, probably alot less.
     
    #58     Oct 27, 2005
  9. 10min or less, no control everyday, right?
    On 15:00, in 10min, obviously lots of thing can happen. What kind of FX trader say 'oh ok, only 10min everyday, let it be.'

    I'm not a IB client or would never use IB unless you offer this air-pocket time during the trading hours.

    My biggest question is that IB is now one of the leader of brokage biz and considered as a good broker, but are you guys seriously conisder this server downtime issue that we cannot find another brokers? Even when you try to spread FX trading in IB trading world.
     
    #59     Oct 27, 2005
  10. Steve_IB

    Steve_IB Interactive Brokers

    Smoothtrader, I will start again. The Hong Kong server reset is from 16:05-16:15 Hong Kong time. During this time customers systems are reset on a sequential basis, and you will experience a one minute outage.

    We've built what is/will be the most competitive and transparent FX platform available for retail customers, if this reset time is really an issue then an alternative is to open a second account with us. You could have an account on the US server and an account on the HK server. You can then easily transfer funds between accounts. Another alternative is that you call the telephone trade desk to place a trade.

    There may be other firms which offer complete 24 hour trading. However, there are many other features with an IB account:
    The ability to trade futures, stocks, bonds, options and FX all from one platform, to deal FX on a net cash basis on a transparent ecn type platform, to manage multiple currencies, on a platform that can give you almost any possible order type you wish, with an account with insurance protection, etc.

    Fyi.. while i write this, IDEAL-Pro is showing 1 pip spreads in USD/JPY, AUD/USD, EUR/JPY, and AUD/JPY.
     
    #60     Oct 27, 2005