Question about IB's IRA Fees

Discussion in 'Retail Brokers' started by buster62, Mar 21, 2006.

  1. buster62


    I have a question about IB's IRA fees that hopefully someone can help me with. I have an existing account with IB, but decided to also open an IRA account with them as well. According to the IB website IRA FAQ's:

    Are there fees for opening an Interactive Brokers IRA?
    No. Although IB does not charge an annual custodial fee, or an account termination fee, there is a monthly commission minimum of $10.00 or USD equivalent.

    But when filling out the account application info I noticed an IRA trust form that makes it look like it will cost me $25 to set up the account and an additional $45 per year in annual fees. Which information is correct?
  2. buster62


    In case anyone else has this same question, I did get an answer. The $10 potential monthly fee is it for IRA's at IB. The trust fees listed on one of the new account application forms are waived. I guess that's what get for trying to read the fine print instead of just signing the forms.
  3. Aaron


    Thanks for posting the answer, Buster.

    Aaron Schindler
    Schindler Trading