Interactive brokers forex commission

C2
1

Hi,



Interactive Brokers has a volume based commission rate with a minimal amount[1]. For example a 100k EURUSD trade costs $5 per round trip. The C2 Interactive Brokers cost is $10 (10 x $0.5 x 2). Is there a reason why you are twice as expensive?



Thanks,

Peter

[1]https://www.interactivebrokers.com/en/index.php?f=commission&p=fx1

2

Peter,



We don’t support Forex at Interactive Brokers…



Francis

3

But to answer Peter’s question a bit more - C2 always adds Gen3 AutoTrading costs to all performance estimates. So in this case, for forex we add $0.50 per 10,000 bought or sold.

4

Right, that’s the point I wanted to get across. The commission the system uses in the “P/L” calculation don’t really match what IB charges. In your case it’s favorable to do mini lots, where a round trip would only cost $1 vs. the $2 at IB (didn’t notice that they actually lowered it from $2.5). Obviously doing a full million would result in $100 vs. $20 per round trip. That coupled with the wider spreads when doing market orders is a substantial transaction cost difference.



Any chance you could change that?



Thanks,

Peter

5

Hi, bumping this. Any chance you can adjust the Interactive brokers commission rates?



Thanks,

Peter

6

In case someone is wondering what I’'m whining about, here is an example:



I recently traded 10 USD/JPY. The full round-trip costs me $4 in commission at Interactive Brokers and $10 here. I also closed the trade using a market order which filled at 101.830 at IB and 101.841 here. So and additional cost of 1.1 pips, or $11. (It’s rare that the “slippage” is positive, I’ve only seen it a couple of times)



Now what are a few dollars and pips between friends? Well multiply by 70+ trades in 8 days and you should get the picture.



I understand that the broker fees are an estimate, however a friendly suggestion would be to bring back the non-commission equity line as seen in the classical view at least and perhaps add that P/L as a column to the trades list as well.