Interactive Brokers question

I am thinking about opening a new account.

From what I understand the fees structure is $0.005 (1000 shares.) edited


My question: what "hidden fees" should I expect to pay.


Thanks in Advance.

 

LOL. Nope, it's way more than half a cent for a thousand shares. IB charges a penny a share for the first 500 shares, then half a cent for the remaining shares. So to trade a thousand shares:

$5.00 for the first 500 shares
$2.50 for the remaining 500 shares
--------
$7.50 total per trade for 1000 shares.

There is a $10/month trading fee if you don't trade much. That's about it. They do not charge for ecn fees or anything. It's been a while since I traded stock through IB, but I don't think they've changed much.

 

Thanks, sorry for that grammatical error

So for 1000 shares, I am expecting to pay $7.5.

Which comes out to $7.5/1000= $0.0075 per share?

 

Yep, you got it.

EDIT: That's on NYSE and NASDAQ. I have no idea what they charge for nonUS markets.

 

Not a hidden fee charged by IB but SEC fees are charged on the sales.

 

Pardon my ignorance, but how much is that SEC fee?

 

speedy,

No SEC fee in my account. (IB eats it.)

 

dude IB rules just look at my post Who Rules...

 

dude IB rules just look at my post Who Rules..

http://www.elitetrader.com/vb/showthread.php?threadid=18766

 

Why do you care, since you will pay this fee whoever you trade through. It is charged when you sell your stock. I believe it is about 1/15000 of the sale amount. Will this stop you from trading?