interest charged on negative cash balances, IB and TW

Discussion in 'Retail Brokers' started by Sophie, Apr 22, 2020.

  1. Sophie


  2. FrankInLa


    Free commission brokers are between 4x and 10x as expensive in anything other than commission than IB. I thought people realized that by now.

  3. qwerty11


    No in the sense that US interest is not 0.05% i guess (didnt look it up). Isnt it something like 1% after the few notches down?
  4. zdreg


    Anything is an exaggeration. If you pay margin interest the statement is definitely true.
    I thought people realized that by now.[/QUOTE]
    you are joking. Most people on ET don't read a prospectus.
  5. Sophie


    are the rates shown on the links for IB and TW, the rates that will be applied to a negative cash balance?
  6. FrankInLa


    Wrong terminology. You should check with each broker what their debit and credit rates are.

  7. Not only pedantic and unhelpful, but also wrong. The terminology is correct, debit and negative cash balance mean the same thing. IB even uses the phrase "negative cash balance" on some of their pages.

    Since the question doesn't seem to have been properly answered yet: Yes, you are correct in your understanding. IB really is ~4x cheaper for interest on negative cash balances.
    d08 likes this.
  8. FrankInLa


    Which I stated in my first post in here. Still licking wounds from your contango BS?

  9. LOL. I thought you might be a troll but now it's obvious that you are. Thanks for clearing that up for us :thumbsup:
  10. FrankInLa


    check your dictionary for troll. You are sneaking up on me since I schooled you on basic futures pnl accounting. And now, please go bang on someone else's door. No interest conversing with you unless its meaningful content. Or else end up on ignore. You have been warned once.

    #10     Apr 24, 2020