Commissions in TWS high
By - Slowmac123
I have the same problem, IBKR says that its $1.00 minimum for options so I set routing to MAX REBATE and create liqudiity but I get commissions up to $2 minimum! Ridiculous!
check your activity statement on the website. I thought they were charging me twice the advertised rate, but the activity statement shows commissions more in line with 0.65USD/option plus other small fees
same, 2 usd per credit spread. Slowmac is probably correct, there might be other fees. It's not like I can't handle that, but I wish they were more transparent
Are you looking at the estimate on TWS or you actually confirmed that was the charged commision
On the box that pops up before you transmit the order in TWS, it says $5.
My trade statement says $2 and something cents. I’m assuming this is the actual charge? Why does TWS show such a high fee?
When I click on performance profile for trades currently open, it still shows $5
They are likely just showing the max, that way you always have enough cash to complete the trade. Depending on what account you are using (pro lite or free), and what you have your smart settings on, it would be anywhere from a rebate to the $5.
That makes sense. I’m waiting for a reply from them to confirm. I have Pro.
I spent $185usd making trades on otc market.
These guys are a straight rip off, it should cost no more than $12 for a buy and sell.
IB sucks for stock options commissions. There are reasons to trade at IB, but clearly stock options are way more expensive with them.
However, they are solid on futures and futures options, and have cheap loan rates.
I am with them for futures and occasional stock and stock option trades.
I can tell you that I'd be gone in a heartbeat if I could find another broker that puts everything together in one package like IB does. Futures trading is what keeps me at IB - barely.
If you're a high volume options trader, you can get E*Trade to negotiate you a nice rate on stock options. And their platform, E*Trade Pro, is much easier to use than IB.