IB: Misc Fee with multiple accounts

Discussion in 'Retail Brokers' started by thecalip, Nov 15, 2007.

  1. I am trading futures with IB now and generated more than $30 commission. The question I have is, if I transfer my IRA account to IB, do I need to fulfill the $30 minimum in commission in order to avoid the fee?
     
  2. rayl

    rayl

    I believe the answer is yes based on my understanding, but I don't have multiple accounts to speak from experience.
     
  3. rwk

    rwk

    I believe the minimum fee ($10 as I recall) is per login. It is possible (but not generally known) to have more than one login per account. IB does not credit trades for one login against the minimum fee for another.
     
  4. RWK is correct.
     
  5. rayl

    rayl

    But this is distinct from having multiple usernames per user. So if you have only one user on an account with two user names, it's a single minimum.
     
  6. rwk

    rwk

    By "multiple logins", I mean multiple user names for the same account. Obviously there will be at least one login for each account. I have two accounts, but I have not [yet] tried a second login for either. It is my understanding that each additional login is subject to the $10 minimum which you can avoid by doing at least $30 in commissions with each login.
     
  7. rayl

    rayl

    I believe this is not correct. I have 2 logins (but same user, me). I don't discriminate which login I use to trade (well, office vs home) but frequently one of them (the office one as I work from home mostly) does not meet the $30.
     
  8. JackR

    JackR

  9. rwk

    rwk

    O.K., I am happy to go with your understanding. IB should have the last word anyway. It's nice to know I can have a second login without paying extra.
     
  10. rayl

    rayl

    You do get charged if you want to create a login for, say, your financial planner. (And that login would need to pay its own data fees if data were desired.) That's what I misinterpretted your original post to mean.
     
    #10     Nov 18, 2007