Interactive Broker commissions
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Thread: Interactive Broker commissions

  1. #1
    Can someone please explain to me how Interactive brokers charge comissions on FX?

    I know that the site kind of explains it, but I do not really get it. (I'm a slow learner ). I really don't get this 0.2 basis point*commerce size and minimum order material

    Would be nice if anyone can explain it in terms of real life cases with lots, and what would the commission be.

    Thank You

  2. #2
    That is what I thought I works out. It is really very economical to go with brokers like interactive broker, especially when they require min 10k deposit. I might switch to a ECN if I want to do FX for a loooong time. I love the fact taht they give you true prices without including their very own'commission' in it like most brokers (including oanda)

  3. #3
    The minimum is 2.50 $ for each transaction.


    To figure out the price of a trade you multiply your lot dimension by 0.0001. (value of a stage ) You then multiply from the commission multiplier depedning on how much trade per month.


    For exemple if you trade less than 1 million per month.

    Your trade is 100 000

    100 000 x 0.0001= 10

    10 x 0.2 = 2

    The minimum is 2.50 $ so you would pay 2.50 $.

    When I misunderstand their commission platform please let me know.

  4. #4
    Both ways bill but still it is true that it's not expensive and the more you trade monthly the less they bill you.

  5. #5
    but be carefull with overnight positions. That is where IB gets you with high interest costs that are odd.

  6. #6
    I believe they also charge you a fee when you cancel/modify an order:

    http://individuals.interactivebroker...?ib_entity=llc

  7. #7
    Quote Originally Posted by ;
    I believe they also charge you a fee if you cancel/modify an order:

    http://individuals.interactivebroker...?ib_entity=llc
    That's just for stocks, not for forex.

    The fast interest rates are in fact quite competitive.

  8. #8
    TraderKGB: Why is it really 0.2 pips commission (i.e. $20 for 1 mio gbp/usd), nor do they perform the $20/mio USD traded thing (i.e. ~$40 to get 1mio. gbp/usd)?

  9. #9
    Quote Originally Posted by ;
    TraderKGB: is it truly 0.2 pips commission (i.e. $20 for 1 mio gbp/usd), nor do they do the $20/mio USD traded thing (i.e. ~$40 to get 1mio. gbp/usd)?
    ~$40 to get 1mio. GBP/USD. $20 per USD $1mio traded.

    The US branch of HotSpotFX is the sole ECN broker that I am conscious of that charges the identical amount no matter base currency ($30 per 1mio. Bcu = ~$15 to get 1mio. GBP/USD).

  10. #10
    I'd love to know more about this as well.
    Our broker charges $30/mio in USD terms so GBP is twice provided that GBPUSD trades around $1.9900. EUR is obviously approximately $1.5000 so it is 50% more costly to trade EURUSD than to exchange USDCHF. I believe our commissions are too large but I need to know what you are paying to negotiate with my covetous broker.
    It is important to note round turns in Foreign Exchange are per click that is very quite misleading. In futures round turn is out and in so you are flat that is what round turn is likely to imply. Forex is crooked and you need to monitor your statements to prevent being taken advantage of.
    Here is what I pay:
    $30/mio each side USD foundation.

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