On Reddit a post stated IB will no longer charge the $10.00 inactivity fee

On Reddit a post stated IB will no longer charge the $10.00/monthly inactivity fee.

 

I got an email from IB confirming this (I have a small account I use for testing which is often inactive for months)

GAT

 

The IB Lite has no inactivity fee. Only the IB Pro has or had the $10 fee.

 

Good move by them.

 

Lite has no API access, so a complete non starter for me.

(Doesn't have web trader eithier - WTF? You have to use TWS. I only ever use the API or web trader for emergencies / testing, haven't even downloaded a copy of the bloatware that is TWS for about 7 years...)

GAT

 

Lite is US only.

 

Why?

 

No Web Trader? Only half true. I get a $200 (now $300 now) standalone Lite account and I do trade from IB website. I use it on my 2nd phone to check stock quotes. I can trade off my phone.

It is not WebTrader though. You can't build a watchlist. But you can place a trade from the website....

 

I was just going off the comparision table on the IB website. I'd never heard of IB Lite until 58 minutes ago...

GAT

 

The IB Lite is just like Fidelity, or Robinhood, etc. Good for some light stock trading. But I believe IB sells order flows. If you trade large volume, IB Pro has better fill quality. Then you pay commissions on stock trading based on pricing plans.