MOC unbundled rates with IB

Discussion in 'Retail Brokers' started by luisHK, Apr 5, 2012.

  1. luisHK



    According to the following link, under the IB cost plus commission scheme, my MOC trades should be chargeded 0.0035 + 0.001 per share through ARCA. Sometimes it happens that way, but pretty often, like today, I get charged around 0.0075 per share (0.075257 today according to the trade log).

    Any idea why, and how I could fix the issue ?
  2. rmorse

    rmorse ET Sponsor

    When you called and asked IB, what did they say the extra charge is for.
  3. luisHK


    I opened a ticket with IB the same time I started this thread. Issue under review.
  4. How many shares per trade? If only a couple hundred, you may be getting hit by the min ticket charge on your smaller orders.
  5. luisHK


    There was nothing wrong, fee differential mostly came from the transaction fee on sales, which adds up per share when dealing with 100usd+ per share issues. Mostly trading futures nowadays and missed the obvious regulatory fee.
  6. Bob111


    there is a minimum fee on every order

    from their Cost plus page:

    [2] USD 0.35 minimum per order for monthly volume exceeding 100,000,000 shares.
    USD 0.70 minimum per order for monthly volume up to 100,000,000 shares.
  7. luisHK


    Minimum fee has no relation with my case, the extra cost came from the transaction fee on DIA and SPY sales. It comes to .0029usd/share on DIA@130 for instance

    Transaction Fees
    (Stocks, ETF, Warrants, Rights, Voting Trust Certificates) USD0.0000224*Value of Aggregate Sales