IB margin rate looks much better than etrade or schwab, so already close to the best? How can be that much cheaper than etrade and schwab?
Nobody comes close to IBKR who is an extension of the FED. http://www.brokerage-review.com/articles/brokerage-firm-margin-rates.aspx
With seven figure balances, you can negotiate with the big retail brokers. Some will be competitive or even (a little) better than IB, but it depends on how much they want your business.
MoreLeverage, can you pm or post here the names of retail brokers that may offer similar margin rates as IB ? I pay 5 to 8kusd a month interest with IB, for mostly shares and some CFDs, so everytime I check a broker with fixed ticket price and see the margin rates is 2 to several times higher, it cools my enthusiasm. I use mostly MOC orders and very few market orders, don't need to direct my orders to a specific exchange, trades get costly with IB on 5000+ shares, especially the first 300k shares per month
Why do you say IB is extensiom of the FED? Your link shows IB is so much cheaper than other, I did some basic research and have same conclusion, IB is so low that doesnt make sense, it is so close to house mortgage rate.
#facepalm That was an exaggeration to emphasize a point. IBKR rates are so low that it seems that they have a access to rates that are only afforded to commercial banks and depository institutions (aka discount rate) or better. @MoreLeverage provides a more interesting factoid about negotiating with your broker.