Interactive Brokers Fees

[JAC123]

Hi Everyone,

Just wondering if someone can clarify the fees for me on IB. I have an individual cash account with around 25K trading in stocks only. I'm having trouble working out the fees involved with IB. Currently I pay brokerage with IB of $25 USD for each US listed stock and $30 AUD for all Australian listed stocks, either side of the trade.

What I can't seem to figure out is the quote that's made on IB. I've a attached a screen shot of an example trade quote. As you can see the total quote plus commission is $8,147. However the change that this will make to the portfolio is -$8,587, meaning $440 is getting lost somehow (on top of the commission)? I don't have any pending trades and there shouldn't be any FX fees (i.e. VAS is listed on the ASX and quote is in AUD). This happens with all my trades.

I'm hoping I'm just missing something here and showing my inexperience and IB is not a complete rip-off for Australian's as I do like the charting tools available.

Many thanks

 

[Sir Burr]

What's your setup, brokerage seems expensive.

 

[JAC123]

Individual cash account.

There's also the discrepancy between the $8,147 quoted price and the change that will make to the portfolio -$8,587, meaning $440 is getting lost somehow (on top of the commission)? No idea how you could run a trading account with those kind of fees!!

 

[Sir Burr]

I guess your an Aussie with $A as base currency. Get onto the Account Management and "chat" or send a message with the screenshot.
Looks weird!

For starters, the fees: https://www.interactivebrokers.com.au/en/index.php?f=1590&p=stocks1

 

[JAC123]

I guess your an Aussie with $A as base currency. Get onto the Account Management and "chat" or send a message with the screenshot.
Looks weird!

I guess your an Aussie with $A as base currency. Get onto the Account Management and "chat" or send a message with the screenshot.
Looks weird!

Certainly does. Would be good to hear if anyone else has this problem. Maybe this is opening up a big can of worms.......

 

[blue0810]

Check your setting:

AM ->setting >-commissions pricing structure:fixed,fixed