IB - non-US traders penalized under new futures plan

Discussion in 'Retail Brokers' started by Tradism, Apr 18, 2010.

  1. Tradism

    Tradism

    IB - non-US traders penalized under new futures plan (futures commission raised)

    In fact IB raised its commission slightly in some places too. It removed the tier "1-300" and replaced it with "1-1000" tier.

    Commission is higher for unbundled plans in nearly all currencies for the first 1000 contracts.

    You pay 5 Euro/GBP/SGD more for the first 1000 contracts.
    10 swiss franc
    50 Swedish Krona
    50 HKD
    1000 Yen

    Unchanged for AUD.

    But you save 10 USD for the first 1000 contracts.

    Good news for US traders but bad news for non-US traders.

    This is a punishment to all non-US traders. Could IB please slightly reduce the commission so as to not penalize us under the new plan?
     
  2. Tradism

    Tradism

    Euro

    Old plan
    First 300 contracts 225
    301-1000 contracts 420
    Total ___________ 645

    New plan
    1-1000 contracts 650

    Conclusion: 5 Euro higher
     
  3. Tradism

    Tradism

    British Pound

    Old plan
    First 300 contracts 165
    301-1000 contracts 280
    Total ___________ 445

    New plan
    1-1000 contracts 450

    Conclusion: 5 GBP higher
     
  4. Tradism

    Tradism

    Swiss Franc

    Old plan
    First 300 contracts 360
    301-1000 contracts 630
    Total ___________ 990

    New plan
    1-1000 contracts 1000

    Conclusion: 10 CHF higher
     
  5. Tradism

    Tradism

    Swedish Krona

    Old plan
    First 300 contracts 2100
    301-1000 contracts 3850
    Total ___________ 5950

    New plan
    1-1000 contracts 6000

    Conclusion: 50 SEK higher
     
  6. Tradism

    Tradism

    Hong Kong Dollar

    Old plan
    First 300 contracts 2100
    301-1000 contracts 3850
    Total ___________ 5950

    New plan
    1-1000 contracts 6000

    Conclusion: 50 HKD higher
     
  7. Tradism

    Tradism

    Japanese Yen

    Old plan
    First 300 contracts 45000
    301-1000 contracts 84000
    Total ___________ 129000

    New plan
    1-1000 contracts 130000

    Conclusion: 1000 Yen higher
     
  8. You are talking about $5-10 US here @ 1000 contracts.


    go buy a cheeseburger
     
  9. Tradism

    Tradism

    Hey what's wrong with you? IB didn't inform us that it charged slightly higher now for non-US traders. Is it morally wrong just to open a post to remind and talk about this change, or rather side-effect?

    So, in your opinion, ss it okay *not* to inform about the change simply because the percentage is small? What logic is it?

    Or do you like the way how IB raises the prices silently each time it slightly alters the structure of the plan so long as the price rise is small?

    After all I don't see why IB can't keep the commission unchanged after tier consolidation of the plan. And why coudldn't IB just inform us about the change when it happens?

    BTW pennies make dollars like McDonald. McDonald raises the price bit by bit silently each time without notice. It may be small in each customer's viewpoint. But it means big in the company's viewpoint.
     
  10. InteractiveB is a business,
    Mcdonalds have been raising prices for 50 years from 10 cent burgers to 99 cents.
    Prices will be raised. You can bet your money on that.
    Its 1 cent per contract raise in 4 or 5 years.
    <b>
    trading commissions use to be $50 PER TRADe in the 90s. $100 PER TRADE in the 80s</b>
    This is actually a damn deflation @ $2 per contract.


    I didn't see your bitching posts when real estate jumped 300% in the past 5 years , thats something worth bitching about.
    This price increase isn't even worth my reply lol.
    ok bbl
     
    #10     Apr 19, 2010