IB cuts prices

[fillyerboots]

Did everybody get the e-mail from IB about the commission cuts?

Fees will be reduced from March 1st. They have split everything up into execution, clearing, exchange fees etc.

Unfortunately they did not publish exchange fees, however, looking at FTSE Futures, the new rate will start at £ 1.28 per side, gradually dropping to 73 p with volume.

Can't seem to get to the bottom of how much Globex charges as an exchange fee though.

Also someting that seems unusual is a nightly carrying charge.
i.e. 10 p/cent per day held. Seems like short time frame traders will benefit, long term could pay more.

 

[JonnyT]

FTSE future isn't traded on Globex. You will need to find what the Liffe fees are.

If you trade <300 lots pcm on Globex then as it stands you pay more...

JonnyT

 

[fillyerboots]

I know, £1.28 includes Liffe/LCH fee of 28p.

What is the fee per side on a Globex e-mini, as far as I could tell it is $ 1.14 What do you calculate it as JohnnyT?

 

[BBB]

They can drop there fees as much as they like.

I for one wouldn't hold an account with them until they offer better customer service.

You pay peanuts - you get a monkey!

 

[Trader333]

BBB,

I dont agree, I have never had a problem with IB on any customer service issue that I have had.


You pay higher costs, you make less profit. Trading is not a luxury activity for me, it is my business and that means running it as such.



Paul

 

[dax]

BBB,

Who do you use?

 

[BBB]

May be it was misplaced. I admit I have never used them, but all I seem to hear from people here is that there is no customer service. What do you do when you need to dispute a fill, transfer money out,...?

You're right Trader333. Trading is a business. Thats why I need quality suppliers! The extra I may/may not pay guarantees me timely delivery if I dont route the order myself, and often gives me PRIMA discount to boot. )

 

[Trader333]

BBB,

I have not had an issue with withdrawing funds or any problems really. Many of those who comment on IB are either doing so based on an historical perspective or simply do not know how to use the service properly in my view.

Are you willing to say who you do use as I am all for continuous improvement ?


Paul

 

[One Eyed Shark]

Have to agree with Trader333

In my experience with IB I cannot fault them to date with regard to account admin, payments etc.

Compared to dealing with a spreadbetter ( D4F ) they have been a dream.

 

[oatman]

Why should you dispute a fill? You're hitting the button.
I've never had a problem with fills.
Money withdrawn goes to your bank next day.
They seem OK to me.