What the hell is accural interest on IB?

Discussion in 'Retail Brokers' started by Nasdaq5048, Nov 18, 2007.

  1. I totally do not understand the new statement style. I have not had a negative cash balance in the past 2 days, and the accural interest went up by 4 everyday. What the hell does that mean??
     
  2. Gustaf

    Gustaf

    This is money that you get in the end of the month. :D
     
  3. Oh really?? ok, then i guess as long as it goes up then i am fine with it. Is strange how positive interest gets reported everyday and they dont report the interest you have to pay on a daily basis.

    Here is the question. I deposit the cash on tuesday and I bought the stock on tuesday. Am i receiving interest until Friday? That's the only explanation why the interest in positive.