What Is IB's interest rate for margin ?

Discussion in 'Trading' started by eltr, Sep 4, 2007.

  1. eltr


    My IB account overnight cash balance was -3,269.38 on August 29, based on the daily account information, I was charged $1.25 for interest, which means the anual percentage rate is over 10%.

    I traded ES daily but closed all future position before 4pm, and only hold stock long position over night. I am wondering if the interest rate is really so high now?
  2. def

    def Sponsor

    calculation examples are here:

    the rate charged was probably around 7.15% (libor +1.5%)

    I'm guessing but it looks like you have been charged 2 days interest. Is it possible you were short cash over the settlement period?