Commissions

Stocks, ETFs and Warrants

Stocks, ETFs and Warrants / Overview


Interactive Brokers - 88% lower than our competitors

Cost Plus

Our transparent Cost Plus pricing for stocks, ETFs and warrants includes our low broker commission, which decreases depending on volume, plus exchange, regulatory, and clearing fees. In cases where an exchange provides a rebate, we pass some or all of the savings directly back to you. 1

Cost Plus Pricing Schedule

Flat Rate

Our Flat Rate pricing for stocks, ETFs and warrants charges a fixed amount per share or a set percent of trade value, and includes all IB commissions, exchange and regulatory fees.

Flat Rate Pricing Schedule

US Commission Rates Comparison 2
 
 
100 Shares
  
Interactive Brokers
$1.00
  
E-Trade
$7.99
  
Fidelity
$7.95
  
optionsXpress
$8.95
  
Schwab
$8.95
  
TD Ameritrade
$9.99
  
thinkorswim
$9.99
  
 
Interactive Brokers has lower commission rates for larger volumes and comparable rates worldwide.
Interactive Brokers
88%
lower than our competitors

Barron's Logo
Barron's 4.5 Stars
Rated Best Online Broker - 2013
Best for International Traders
Best for Frequent Traders
Low Cost for 9th Year in a Row 3
  1. IB's Cost Plus commission models are not guaranteed to be a direct pass-through of exchange and third-party fees and rebates. Costs passed on to customers in IB’s Cost Plus commission schedule may be greater than the costs paid by IB to the relevant exchange, regulator, clearinghouse or third party. For example, IB may receive volume discounts that are not passed on to customers. Likewise, rebates passed on to customers by IB may be less than the rebates IB receives from the relevant market.
  2. Rates were obtained on March 1, 2013 from each firm's website. Some of the firms listed may have additional fees and some firms may reduce or waive commissions or fees, depending on account activity or total account value. Supporting documentation for any claims and statistical information will be provided upon request.
  3. Interactive Brokers earned a 4.5 star ranking in the March 11, 2013 Barron's Annual Best Online Brokers. *Low Cost Rated by Barron's 9 Years Straight - Low cost broker 2005 through 2012 according to Barron's online broker review. 2005 - 5 Stars, 2006 - 5 Stars, 2007 - 4.8 Stars, 2008 - 4.5 Stars, 2009 - 4.5 Stars, 2010 - 4.2 stars, 2011 - 4.5 stars, 2012 - 4.3. Back Online - March 11, 2013, Barron's ranked Interactive Brokers with a 4.3 star rating for cost. Criteria included Trade Experience and Technology, Usability, Mobile, Range of Offerings, Research Amenities, Portfolio Analysis & Report, Customer Service & Education, and Costs.

Stocks, ETFs and Warrants / Flat Rate


North America


Europe


Asia-Pacific

North America

Our Flat Rate pricing for stocks, ETFs and warrants charges a fixed amount per share or a set percent of trade value, and includes all IB commissions, exchange and regulatory fees.


United States
Example
100 Shares @ USD 25 Share Price = USD 1.00
1,000 Shares @ USD 25 Share Price = USD 5.00
1,000 Shares @ USD 0.25 Share Price = USD 1.25
Flat Rate Minimum Per Order Maximum Per Order
USD0.005 1 per share USD 1.00 0.5% of trade value 2

Exceptions (API, FactorShare ETFs, Global X ETFs, VWAP)
FactorShare ETFs, Global X ETFs
  Flat Rate Minimum Per Order Maximum Per Order
All USD0.00per share USD 0.00 USD 0.00


US API Directed Orders 4
Example
100 Shares @ USD 25 Share Price = USD 1.30
700 Shares @ USD 25 Share Price = USD 8.10
Value Flat Rate Minimum Per Order Maximum Per Order
< = 500 shares USD0.013 1per share USD 1.30 0.5% of trade value 2
> 500 shares USD0.008 1per share USD 1.30 0.5% of trade value 2


Guaranteed VWAP Orders
Example
100 Shares @ USD 25 Share Price = USD 2.00
Flat Rate Minimum Per Order Maximum Per Order
USD0.02per share USD 1.00 0.5% of trade value 2



Canada
Example
100 Shares @ CAD 25 Share Price = CAD 1.00
Flat Rate Minimum Per Order Maximum Per Order
CAD0.01per share CAD 1.00 0.5% of trade value2, 3

Mexico
Example
700 Shares @ MXN 100 Share Price = MXN 70.00
Flat Rate Minimum Per Order Maximum Per Order
MXN0.1%of trade value MXN 60.00 N/A

Notes:

  • Commissions apply to all order types.
  • All exchange and regulatory fees are included.
  • For customers who send an extraordinary number of non-marketable limit orders to the NYSE, and who route such orders direct to NYSE, rather than using IB Smart routing, IB reserves the right to impose a surcharge in order to defray specialist order handling charges. In this event, IB will provide notice to affected customers.
  • VAT, also referred to as consumption tax, goods and services tax, where applicable, will be separately applied for eligible services.

  1. For CSFB ALGO and JEFFALGO IB will charge an additional USD 0.0010 per share. For orders executed on dark pools, IB will rebate USD 0.0010 per share.
  2. Plus the applicable exchange, ECN and/or specialist fees based on execution venue.
  3. For orders that are immediately executed against an existing bid or offer on the exchange's order book, an exchange liquidity removing fee will be added. See the Cost Plus North America section for details of the exchange fees.
  4. This charge does not apply to relative, pegged to market and pegged to midpoint orders.

Europe

Our Flat Rate pricing for stocks, ETFs and warrants charges a fixed amount per share or a set percent of trade value, and includes all IB commissions, exchange and regulatory fees.


Austria
Example
100 Shares @ EUR 50 Share Price = EUR 5.00
  Flat Rate Minimum Per Order Maximum Per Order
All 0.1%of trade value EUR 4.00 EUR 120.00

Belgium
Example
100 Shares @ EUR 50 Share Price = EUR 5.00
1,000 Shares @ EUR 50 Share Price = EUR 29.00
  Flat Rate Minimum Per Order Maximum Per Order
All 0.1%of trade value EUR 4.00 EUR 29.00

France
Example
100 Shares @ EUR 50 Share Price = EUR 5.00
1,000 Shares @ EUR 50 Share Price = EUR 29.00
100 Shares @ USD 75 Share Price = USD 7.50
  Flat Rate Minimum Per Order Maximum Per Order
Euro-denominated 0.1%of trade value EUR 4.00 EUR 29.00
USD-denominated 0.1%of trade value USD 5.00 USD 42.00

Germany
Example
100 Shares @ EUR 50 Share Price = EUR 6.00

FWB:
100 Shares @ EUR 50 Share Price = EUR 5.00
1,000 Shares @ EUR 50 Share Price = EUR 50.00

Chi-X / NURO / Turquoise DE:
100 Shares @ EUR 50 Share Price = EUR 5.00
1,000 Shares @ EUR 50 Share Price = EUR 29.00

Xetra - ETFs:
100 Shares @ EUR 50 Share Price = EUR 5.00
1,000 Shares @ EUR 50 Share Price = EUR 29.00

Xetra - Stocks:
100 Shares @ EUR 50 Share Price = EUR 5.00
1,000 Shares @ EUR 50 Share Price = EUR 50.00
  Flat Rate Minimum Per Order Maximum Per Order
SWB 0.12%of trade value EUR 6.00 None
FWB 2 0.1%of trade value EUR 4.00 EUR 99.00
Chi-X / NURO / Turquoise DE 0.1%of trade value EUR 4.00 EUR 29.00
Xetra - ETFs 0.1%of trade value EUR 4.00 EUR 29.00
Xetra - Stocks 0.1%of trade value EUR 4.00 EUR 99.00

Italy
Example
100 Shares @ EUR 50 Share Price = EUR 5.00
1,000 Shares @ EUR 50 Share Price = EUR 29.00
  Flat Rate Minimum Per Order Maximum Per Order
All 0.1%of trade value EUR 4.00 EUR 29.00

Netherlands
Example
100 Shares @ EUR 50 Share Price = EUR 5.00
1,000 Shares @ EUR 50 Share Price = EUR 29.00
100 Shares @ USD 75 Share Price = USD 7.50
  Flat Rate Minimum Per Order Maximum Per Order
Euro-denominated 0.1%of trade value EUR 4.00 EUR 29.00
USD-denominated 0.1%of trade value USD 5.00 USD 42.00

Spain
Example
100 Shares @ EUR 50 Share Price = EUR 5.00
  Flat Rate Minimum Per Order Maximum Per Order
All 0.1%of trade value EUR 4.00 None

Sweden
Example
100 Shares @ SEK 50 Share Price = SEK 49.00
  Flat Rate Minimum Per Order Maximum Per Order
All 0.05%of trade value SEK 49.00 None

Switzerland
Example
100 Shares @ CHF 50 Share Price = CHF 10.00
  Flat Rate Minimum Per Order Maximum Per Order
CHF-denominated 0.1%of trade value CHF 10.00 None
USD-denominated 0.1%of trade value USD 5.00 USD 42.00

United Kingdom 1
Example
100 Shares @ GBP 50 Share Price= GBP 6.00
30,000 Shares @ GBP 2 Share Price= GBP 11.00
100 Shares @ USD 100 Share Price = USD 5.00
  Flat Rate Minimum Per Order Maximum Per Order
Up to GBP 50,000 Trade Value GBP 6.00 GBP 6.00 GBP 6.00
> GBP 50,000 Trade Value GBP6.00 + 0.05% of incremental trade value > GBP 50,000 GBP 6.00 GBP 29.00
LSE International Order Book and USD-denominated stocks USD 0.05% of trade value USD 5.00 None


Notes:

  • Commissions apply to all order types.
  • All exchange and regulatory fees are included.
  • VAT, also referred to as consumption tax, goods and services tax, where applicable, will be separately applied for eligible services.
  • Effective August 1, 2012, securities issued by French companies with a market capitalization of 1 billion EUR as of January 1, 2012 will be subject to a transaction tax. For additional details regarding the calculation of the tax, please refer here.
  • For European stock Algo orders, IB will apply the commission cap as follows:

    For EUR-denominated stocks every EUR 75,000 of executed value a new per order cap will be applied
    For CHF-denominated stocks every CHF 100,000 of executed value a new per order cap will be applied
    For GBP-denominated stocks every GBP 65,000 of executed value a new per order cap will be applied

  1. Stamp taxes (UK=0.5%, Ireland=1%) are directly passed through to the customer.
  2. Plus Trade Fee.

Asia-Pacific

Our Flat Rate pricing for stocks, ETFs and warrants charges a fixed amount per share or a set percent of trade value, and includes all IB commissions, exchange and regulatory fees.


Australia
Example
400 shares@ AUD 50 Share Price= AUD 16
Tier Flat Rate Minimum Per Order Maximum Per Order
All 0.08%of trade value AUD 6.00 (NZD 8.00) N/A

Hong Kong 1, 2
Example
400 shares@ HKD 70 Share Price= HKD 22.40
Tier Flat Rate Minimum Per Order Maximum Per Order
All 0.08%of trade value HKD 18 N/A

Japan
Example
100 Shares @ JPY 10,000 Share Price= JPY 800
Tier Flat Rate Minimum Per Order Maximum Per Order
All 0.08%of trade value JPY 80 N/A

Singapore
Example
100 Shares @ SGD 50 Share Price= SGD 4
Tier Flat Rate Minimum Per Order Maximum Per Order
All 0.08%of trade value SGD 2.50
(USD 2.00)
(HKD 18.00)		 N/A


Notes:

  • Commissions apply to all order types.
  • VAT, also referred to as consumption tax, goods and services tax, where applicable, will be separately applied for eligible services.

  1. All exchange and regulatory fees are included, except in Hong Kong.
  2. For Hong Kong, exchange trading fees, exchange trading tariff, CCASS settlement fees, and CCASS custody fees are included. Government stamp duty (0.1% rounded up to the nearest 1.00, applies to stocks only) and SFC transaction levy (0.003%, applies to stocks and warrants) are directly passed through to the customer.
Stocks, ETFs and Warrants / Europe
Tier
Commissions
Minimum
per Order
Maximum
per Order
 Examples
Austria
All 0.1% of trade value EUR 4.00 EUR 120.00 100 Shares @ EUR 50 Share Price = EUR 5.00
Belgium
All 0.1% of trade value EUR 4.00 EUR 29.00 100 Shares @ EUR 50 Share Price = EUR 5.00

1,000 Shares @ EUR 50 Share Price = EUR 29.00
France
Euro-denominated 0.1 % of trade value EUR 4.00 EUR 29.00 100 Shares @ EUR 50 Share Price = EUR 5.00

1,000 Shares @ EUR 50 Share Price = EUR 29.00
USD-denominated 0.1 % of trade value USD 5.00 USD 42.00 100 Shares @ USD 75 Share Price = USD 7.50
Germany
SWB 0.12% of trade value EUR 6.00 None 100 Shares @ EUR 50 Share Price = EUR 6.00
FWB(2) 0.1% of trade value EUR 4.00 EUR 39.00 100 Shares @ EUR 50 Share Price = EUR 5.00

1,000 Shares @ EUR 50 Share Price = EUR 39.00
Chi-X/NURO/Turqoise DE 0.1% of trade value EUR 4.00 EUR 29.00 100 Shares @ EUR 50 Share Price = EUR 5.00

1,000 Shares @ EUR 50 Share Price = EUR 29.00
Xetra - ETFs 0.1% of trade value EUR 4.00 EUR 29.00 100 Shares @ EUR 50 Share Price = EUR 5.00

1,000 Shares @ EUR 50 Share Price = EUR 29.00
Xetra - Stocks 0.1% of trade value EUR 4.00 EUR 99.00 100 Shares @ EUR 50 Share Price = EUR 5.00

1,000 Shares @ EUR 50 Share Price = EUR 50.00
italian_flag Italy
All 0.1% of trade value EUR 4.00 EUR 29.00 100 Shares @ EUR 50 Share Price = EUR 5.00

1,000 Shares @ EUR 50 Share Price = EUR 29.00
Netherlands
Euro-denominated 0.1 % of trade value EUR 4.00 EUR 29.00 100 Shares @ EUR 50 Share Price = EUR 5.00

1,000 Shares @ EUR 50 Share Price = EUR 29.00
USD-denominated 0.1 % of trade value USD 5.00 USD 42.00 100 Shares @ USD 75 Share Price = USD 7.50
Spain
All 0.1% of trade value
 EUR 4.00 None 100 Shares @ EUR 50 Share Price = EUR 5.00
Sweden
All 0.1% of trade value
 SEK 30.00 SEK 300 .00 100 Shares @ SEK 50 Share Price = SEK 30.00

10,000 Shares @ SEK 50 Share Price = SEK 300.00
Switzerland
All 0.1% of trade value CHF 10.00 None 100 Shares @ CHF 50 Share Price = CHF 10.00
United Kingdom (1)
Up to GBP 50,000 Trade Value GBP 6.00 GBP 6.00 GBP 6.00 100 Shares @ GBP 50 Share Price= GBP 6.00
> GBP 50,000 Trade Value GBP 6.00+ 0.05% of incremental trade value>GBP 50,000 GBP 6.00 GBP 29.00 30,000 Shares @ GBP 2 Share Price= GBP 11.00
LSE International Order Book USD 0.05% of trade value USD 5.00 None 100 Shares @ USD 100 Share Price = USD 5.00
Notes:
  • Commissions apply to all order types.
  • All exchange and regulatory fees included.
  • VAT, also referred to as consumption tax, goods and services tax, where applicable, will be separately applied for eligible services.

    •  
  • 1Stamp taxes (UK=0.5%, Ireland=1%) are directly passed through to the customer.
  • 2Plus specialist fees.
Stocks and ETFs / Unbundled Europe

Your total unbundled commission will include IB unbundled fees, plus exchange/ECN, clearing, and regulatory fees. Click here for an example.

IB Unbundled Fees
Monthly Trade Value (EUR) Fee Per Trade Value
EUR-Denominated Products
CHF-Denominated Products
Minimum per Order Maximum per Order Minimum per Order Maximum per Order
<=1,000,000 0.080% EUR 1.25 EUR 29.00 CHF 1.90 CHF 49.00
1,000,001 – 10,000,000 0.060% EUR 1.25 EUR 29.00 CHF 1.90 CHF 49.00
10,000,001 – 50,000,000 0.050% EUR 1.25 EUR 29.00 CHF 1.90 CHF 49.00
50,000,001 – 100,000,000 0.030% EUR 1.25 EUR 29.00 CHF 1.90 CHF 49.00
100,000,001 – 500,000,000 0.020% EUR 1.25 EUR 29.00 CHF 1.90 CHF 49.00
> 500,000,000 0.015% EUR 1.25 EUR 29.00 CHF 1.90 CHF 49.00
Exchange / ECN, Clearing and Regulatory Fees (per exchange)
Exchange
AEB / SBF / SBVM
BVME
CHIX (CHIXDE, CHIXEN, CHIXCH)
EBS
FWB
IBIS
LSE International Order Book
Nasdaq OMX Europe (NURODE, NUROEN, NUROCH)
SWB
Turquoise (TRQXDE, TRQXEN, TRQXCH)
VIRTX
Notes:
  • Value tiers are applied based on monthly cumulative trade volume summed across all stock and ETF shares. This is calculated once daily, not at the time of the trade. As such, execution reductions will start the next trading day after the threshold has been exceeded. Only shares that are traded while under the unbundled pricing structure will count towards the monthly volume. Share volumes for advisor, institution, and broker accounts are summed across all accounts for the purpose of determining volume breaks. These fees are applied on a marginal basis for a given calendar month.
  • VAT, also referred to as consumption tax, goods and services tax, where applicable, will be separately applied for eligible services.
Stocks, ETFs and Warrants / Asia Pacific
Tier
Commissions
Minimum
per Order
Maximum
per Order
 Examples
Australia
All 0.08% of trade value AUD 6   400 shares@ AUD 50 Share Price= AUD 16
India (plus Securities Transaction Tax, Exchange Charges, Statutory Tax and Service Tax)
All 0.05% of trade value(4) INR 30(3)   400 shares@ INR 400 Share Price= INR 80

100 shares@ INR 1,000 Share Price= INR 50

100 shares@ INR 20 Share Price= INR 30

100 shares@ INR 10 Share Price= INR 25(3)
Hong Kong (1), (2)
All 0.088% of trade value HKD 18   400 shares@ HKD 70 Share Price= HKD 24.64
Japan
All 0.08% of trade value JPY 450   100 Shares @ JPY 10,000 Share Price= JPY 800
Notes:
  • Commissions apply to all order types.
  • VAT, also referred to as consumption tax, goods and services tax, where applicable, will be separately applied for eligible services.

    •  
  • 1All exchange and regulatory fees included except in Hong Kong.
  • 2For Hong Kong, exchange trading fees, exchange trading tariff, CCASS settlement fees, and CCASS custody fees are included. Government stamp duty (0.1% rounded up to the nearest 1.00, applies to stocks only) and SFC transaction levy (0.003%, applies to stocks and warrants) are directly passed through to the customer.
  • 3In the cases where the IB minimum of INR 30 exceeds the 2.5% of trade value maximum permitted by the Securities Exchange Board of India (SEBI) and the National Stock Exchange (NSE) as shown in the examples, the minimum will be 2.5% of trade value.
  • 4In the case of intra-day trades on the NSE, in which a position is opened and closed on the same day, IB commissions will only be charged on the opening leg. Other charges such as STT, reg fees, exchange fees, etc. will apply to both legs.
Options

Options / Pricing Structure


North America


Europe


Asia-Pacific

North America

Our transparent Cost Plus pricing for options includes our low broker commissions, which in certain cases decrease on volume, plus exchange, regulatory, and clearing fees. In cases where an exchange provides a rebate, we pass some or all of the savings directly back to you1. VAT, also referred to as consumption tax, goods and services tax, where applicable, will be separately applied for eligible services.

In the Flat Rate commission structure, you will be charged a single flat rate per contract that includes all commissions and all exchange, regulatory and other third party fees. VAT, also referred to as consumption tax, goods and services tax, where applicable, will be separately applied for eligible services.

US uses the Cost Plus pricing structure, and Canada and Mexico use the Flat Rate structure.



United States - Smart Routed: <=10,000 Monthly Contracts
Example
1 Contract @ USD 2 Premium = USD 1.00
2 Contracts @ USD 5 Premium = USD 1.40
3 Contracts @ USD 0.075 Premium = USD 1.50
5 Contracts @ USD 0.03 Premium = USD 1.25
  Commissions Minimum Per Order
Premium => USD 0.10 USD 0.70 per contract USD 1.00
USD 0.05 =< Premium < USD 0.10 USD 0.50 per contract USD 1.00
Premium < USD 0.05 USD 0.25 per contract USD 1.00

United States - Smart Routed: 10,001-50,000 Monthly Contracts
Example
1 Contract @ USD 2 Premium = USD 1.00
2 Contracts @ USD 5 Premium = USD 1.00
5 Contracts @ USD 0.03 Premium = USD 1.25
  Commissions Minimum Per Order
Premium => USD 0.05 USD 0.50 per contract USD 1.00
Premium < USD 0.05 USD 0.25 per contract USD 1.00

United States - Smart Routed: 50,001-100,000 Monthly Contracts
Example
1 Contract @ USD 2 Premium = USD 1.00
2 Contracts @ USD 5 Premium = USD 1.00
  Commissions Minimum Per Order
All Premiums USD 0.25 per contract USD 1.00

United States - Smart Routed: 100,001-150,000 Monthly Contracts
Example
1 Contract @ USD 2 Premium = USD 1.00
2 Contracts @ USD 5 Premium = USD 1.00
  Commissions Minimum Per Order
All Premiums USD 0.15 per contract USD 1.00

United States - Smart Routed: > 150,000 Monthly Contracts
Example
1 Contract @ USD 2 Premium = USD 1.00
2 Contracts @ USD 5 Premium = USD 1.00
Commissions Minimum Per Order
All Premiums USD 0.075 per contract USD 1.00

United States - Direct Routed
Example
1 Contract = USD 1.00
Commissions Minimum Per Order
All Premiums USD 1.00 per contract USD 1.00

Canada
Example
1 Contract = CAD 1.50
Commissions Minimum Per Order
All CAD 1.50 per contract CAD 1.50

Mexico
Example
1 AMXL Contract = MXN 25
1 NAFTRAC Contract = MXN 20
1 QQQQ Contract = MXN 30
  Commissions Minimum Per Order
AMXL MXN 25 per contract MXN 25
NAFTRAC MXN 20 per contract MXN 20
QQQQ MXN 30 per contract MXN 30

United States - Exchange Fees
AMEX MIAX
BATS NASDAQOM
BOX NASDAQ OMX BX Options Exchange
C2 NYSE Arca
CBOE PHLX
ISE  

United States - Regulatory Fees
  Commissions
Options Regulatory Fee ("ORF") 2, 3 USD 0.0377 per contract

United States - Transaction Fees
  Commissions
Transaction Fees 4 USD 0.0000224* Value of Aggregate Sales

United States - OCC Clearing Fees
Tier Fee
Trades of 1 to 500 contracts USD 0.03 per contract
Trades of 501 to 1,000 contracts USD 0.024 per contract
Trades of > 1,000 contracts USD 18.00 per trade


Notes:

  • Commissions apply to all order types.
  • Commissions are not charged for US exercise and assignment.
  • Commissions are not charged for US cabinet trades.
  • IB considers exchange fees and/or rebates in determining where to route an order. Under certain circumstances, IB may route a marketable order to an exchange that is not currently posting the national best bid or offer (NBBO) but which may be willing to “step up” and execute the order at the NBBO, in order to avoid or reduce the exchange fee for executing the order. If this routing method is used, the customer generally will pay a lower execution fee than customer would have otherwise paid. In those cases where IB routes to an exchange that is not currently posting the NBBO in order to reduce or avoid exchange fees, IB will guarantee the customer a fill at the NBBO at the time that IB routed the order.
  • Volume breaks are applied based on monthly cumulative trade volume summed across all options contracts at the time of the trade. Contract volumes for advisor, separate trading limit, and broker accounts are summed across all accounts for the purpose of determining volume breaks. These fees are applied on a marginal basis for a given calendar month. If for example, you execute 12,000 US contracts in a month, your execution costs would be:

    10,000 contracts at USD 0.70
    2,000 contracts at USD 0.50

  • Modified orders will be treated as the cancellation and replacement of an existing order with a new order. On certain exchanges, this may have the effect of subjecting modified orders to commission minimums as if they were new orders. For example, if an order for 200 contracts is submitted and 100 contracts execute, then you modify the order and another 100 contracts execute, a commission minimum would be applied to both 100 contract orders.
  • Orders minimums will be applied to the individual legs of a COMBO order.

  1. IB's Cost Plus commission models are not guaranteed to be a direct pass-through of exchange and third-party fees and rebates. Costs passed on to customers in IB’s Cost Plus commission schedule may be greater than the costs paid by IB to the relevant exchange, regulator, clearinghouse or third party. For example, IB may receive volume discounts that are not passed on to customers. Likewise, rebates passed on to customers by IB may be less than the rebates IB receives from the relevant market.
  2. The Options Regulatory Fee ("ORF") is charged by the following exchanges: AMEX, BOX, CBOE, CBOE2, ISE, MIAX, NOM, PCX, PHLX.
  3. Fee applies to the "Public Customer" Category only.
  4. Transaction fees are only charged for sell orders.

Europe

In the Flat Rate commission structure, you will be charged a single flat rate per contract that includes all commissions and all exchange, regulatory and other third party fees. VAT, also referred to as consumption tax, goods and services tax, where applicable, will be separately applied for eligible services.

Europe uses the Flat Rate pricing structure.



Belgium
Example
1 Contract = EUR 1.50
  Commissions Minimum Per Order
All EUR 1.50 per contract EUR 1.50

France
Example
1 Index Option Contract = EUR 1.50
  Commissions Minimum Per Order
Index Options EUR 1.50 per contract EUR 1.50
Stock Options (Multiplier >=100) EUR 1.50 per contract EUR 1.50
Stock Options (Multiplier < 100) EUR 0.20 per contract EUR 0.20

Germany
Example
1 Stock Options Contract = EUR 1.10
  Commissions Minimum Per Order
Stock Options EUR 1.10 per contract EUR 1.10
All Index Options not listed below EUR 1.50 per contract EUR 1.50
DAX EUR 1.70 per contract EUR 1.70

Italy
Example
1 Index Option Contract = EUR 3.00
  Commissions Minimum Per Order
Stock Options EUR 2.00 per contract EUR 2.00
Index Options EUR 3.00 per contract EUR 3.00

Netherlands
Example
1 Contract = EUR 1.50
  Commissions Minimum Per Order
All EUR 1.50 per contract EUR 1.50

Norway
Example
1 Index Option Contract = NOK 12.00
  Commissions Minimum Per Order
Index Options NOK 12 per contract NOK 12
Stock Options NOK 15 per contract NOK 15

Spain
Example
1 Contract = EUR 0.90
  Commissions Minimum Per Order
Stock Options EUR 0.90 per contract EUR 4.50

Sweden
Example
1 Contract = SEK 10.00
  Commissions Minimum Per Order
All 0.35% of trade value, minimum 0.50 per contract plus Exchange fees 1 SEK 10.00

Switzerland
Example
1 Contract = CHF 2.80
  Commissions Minimum Per Order
Stock Options CHF 1.70 per contract CHF 1.70
Index Options CHF 2.80 per contract CHF 2.80

United Kingdom
Example
1 Contract = GBP 1.70
  Commissions Minimum Per Order
All GBP 1.70 per contract 2 GBP 1.70


Notes:

  • IB’s Cost Plus commission models are not guaranteed to be a direct pass-through of exchange and third-party fees and rebates. Costs passed on to customers in IB’s Cost Plus commission schedule may be greater than the costs paid by IB to the relevant exchange, regulator, clearinghouse or third party. For example, IB may receive volume discounts that are not passed on to customers. Likewise, rebates passed on to customers by IB may be less than the rebates IB receives from the relevant market.
  • Commissions apply to all order types.
  • All exchange and regulatory fees included.
  • Commissions are charged for exercise and assignment.
  • Cost-Plus Tiered pricing available for index options with the exception of index options in Sweden. See futures commissions for more information.

  1. All Swedish options will follow a Cost-Plus model. Please click here for details on the external exchange fees which will be passed through at cost.
  2. Stamp duty on option exercise (UK=0.5%) is directly passed through to the customer.

Asia-Pacific

In the Flat Rate commission structure, you will be charged a single flat rate per contract that includes all commissions and all exchange, regulatory and other third party fees. VAT, also referred to as consumption tax, goods and services tax, where applicable, will be separately applied for eligible services.

Our transparent Cost Plus pricing for options includes our low broker commission, which decreases depending on volume, plus exchange, regulatory, and clearing fees. In cases where an exchange provides a rebate, we pass some or all of the savings directly back to you7. VAT, also referred to as consumption tax, goods and services tax, where applicable, will be separately applied for eligible services.

Asia uses the Flat Rate pricing structure except in India, where the Cost Plus model (both Fixed and Volume-Tiered) is used.



Australia
Example
1 ASX-listed Contract = AUD 2.00
  Commissions Minimum Per Order
Index options (ASX) AUD 2.00 per contract 1 AUD 2.00
Stock Options AUD 0.30 per contract 1 AUD 2.00

Hong Kong
Example
1 Contract = HKD 30.00
1 Contract @ HKD 0.23 Premium (500 Multiplier) = HKD 21
2 Contracts @ HKD 0.14 Premium (1,000 Multiplier) = HKD 20
  Commissions Minimum Per Order
Index Options HKD30.00 per contract HKD 30.00
 
Stock Options 2
SEHK Tier II Options 5 0.2% of option value + exchange fee of HKD1.00per contract HKD 18.00
All other stock options 0.2% of option value + exchange fee of HKD3.00per contract HKD 18.00

India 6 - Plus Securities Transaction Tax, Exchange Charges, and Service Tax
Example
1 Stock Option board lot (Cost Plus pricing model) = INR 25
  Commissions Minimum Per Order
Stock Options - Cost Plus
  INR 25 per board lot None
 
Stock Options - Cost Plus Tiered
=< 1000 board lots INR 30 per board lot None
1000 - 5000 board lots INR 25 per board lot None
>5000 board lots INR 20 per board lot None
 
Index Options - Cost Plus
  INR 15 per board lot None
 
Index Options - Cost Plus Tiered
=< 1000 board lots INR 15 per board lot None
1000 - 5000 board lots INR 12 per board lot None
>5000 board lots INR 10 per board lot None

Japan
Example
1 Stock Option (TSEJ) Contract = YEN 90
  Commissions Minimum
N225 Options 3 18bps per Trade Value YEN 100 per order
Stock Options (TSEJ) 4 YEN 90 per contract YEN 90 per contract

Singapore
Example
1 Option (NIFTY) Contract = USD 2.85
  Commissions Minimum
NIFTY USD 2.85 per contract USD 2.85

South Korea
Example
10 Contracts @ KRW 0.75 Premium (100,000 Multiplier) = KRW 1,500
  Commissions Minimum Per Order
All 0.2% of option value KRW 1,000


Notes:

  • IB’s Cost Plus commission models are not guaranteed to be a direct pass-through of exchange and third-party fees and rebates. Costs passed on to customers in IB’s Cost Plus commission schedule may be greater than the costs paid by IB to the relevant exchange, regulator, clearinghouse or third party. For example, IB may receive volume discounts that are not passed on to customers. Likewise, rebates passed on to customers by IB may be less than the rebates IB receives from the relevant market.
  • Commissions apply to all order types.
  • All exchange and regulatory fees included except for Hong Kong stock options.
  • Commissions are not charged for exercise and assignment, except in Australia.
  • Cost-Plus Tiered pricing available for index options. See futures commissions for more information.

  1. The cost for exercise/assignments of ASX options will be 0.275 per contract for stock options and 0.75 per contract for index options.
  2. For all exercise and assignments standard stock commissions apply plus Stock Exchange Options Clearing House (SEOCH) fee of HKD 2.00 per contract.
  3. The cost of an exercise or assignment is 6 bps with a maximum of JPY 420 per contract for both Flat Rate and Cost-Plus Tiered commission structure.
  4. Introductory rate based on the Tokyo Stock Exchange trading fee waiver period. This rate is subject to change.
  5. Tier II stock options are options on the following underlying symbols: 3, 6, 11, 23, 66, 179, 203, 330, 358, 386, 390, 700, 728, 762, 857, 883, 902, 914, 939, 998, 1088, 1186, 1398, 1800, 1880, 1898, 1919, 1928, 2318, 2328, 2388, 2600, 2628, 2777, 2800, 2888, 2899, 3323, 3328, 3968, 3988.
  6. Volume tiers are applied based on monthly cumulative trade volume summed across all option contracts at the time of the trade. Only contracts that are traded while under the cost plus tiered pricing structure will count towards the monthly volume.
  7. IB's Cost Plus commission models are not guaranteed to be a direct pass-through of exchange and third-party fees and rebates. Costs passed on to customers in IB’s Cost Plus commission schedule may be greater than the costs paid by IB to the relevant exchange, regulator, clearinghouse or third party. For example, IB may receive volume discounts that are not passed on to customers. Likewise, rebates passed on to customers by IB may be less than the rebates IB receives from the relevant market.
Options / Europe
Tier
Commissions
Minimum per Order
Example
Belgium
All EUR 3.00 per contract EUR 3.00 1 Contract = EUR 3.00
France
All not listed below EUR 0.30 per contract EUR 0.30 1 Contract = EUR 0.30
CAC40 EUR 0.50 per contract EUR 0.50 1 Contract = EUR 0.50
Germany
Stock Options EUR 1.10 per contract
 EUR 1.10 1 Contract = EUR 1.10
All Index Options not listed below EUR 1.50 per contract EUR 1.50 1 Contract = EUR 1.50
DAX EUR 1.70 per contract EUR 1.70 1 Contract = EUR 1.70
Italy
Equity Options EUR 3.00 per contract EUR 3.00 1 Contract = EUR 3.00
Netherlands
All EUR 2.00 per contract EUR 2.00 1 Contract = EUR 2.00
Spain
Stock Options EUR 0.90 per contract EUR 4.50 1 Contract = EUR 0.90
Sweden
Stock Options SEK 15.00 per contract SEK 15.00 1 Contract = SEK 15.00
Index Options SEK 20.00 per contract SEK 20.00 1 Contract = SEK 20.00
Switzerland
Stock Options CHF 1.70 per contract CHF 1.70 1 Contract = CHF 1.70
Index Options CHF 2.80 per contract CHF 2.80 1 Contract = CHF 2.80
United Kingdom
All GBP 1.70 per contract(1) GBP 1.70 1 Contract = GBP 1.70
Notes:
  • Commissions apply to all order types.
  • All exchange and regulatory fees included.
  • Commissions are charged for exercise and assignment.
  • VAT, also referred to as consumption tax, goods and services tax, where applicable, will be separately applied for eligible services.
  • Unbundled pricing available for index options. See futures commissions for more information.

    •  
  • 1Stamp duty on option exercise (UK=0.5%) is directly passed through to the customer.
Options / Asia-Pacific
  Tier
Commissions
Minimum per Order
Example
Australia
  All AUD 3.00(1) per contract
 AUD 3.00 1 Contract = AUD 3.00
India(2) (plus Securities Transaction Tax, Exchange Charges, and Service Tax)
  =< 20 Crores(3) INR 50 per contract(5) None 100 Contracts = INR 5,000
  20 =< 50 Crores(3) INR 40 per contract(5) None 100 Contracts = INR 4,000
  >= 50 Crores(3) INR 30 per contract(5) None 100 Contracts = INR 3,000
Hong-Kong
Index Options HKD 30.00 per contract HKD 30.00 1 Contract = HKD 30.00
Stock Options(4):      
  1, 2, 4, 5, 12, 13, 16, 17, 19, 267, 293, 388, 494, 688, 941, 1038, 1211, 2038 0.2% of option value + exchange fee of HKD 3.00 per contract HKD 18.00 1 Contract @ HKD 0.23 Premium
(500 Multiplier) = HKD 21
3, 6, 11, 23, 66, 179, 203, 330, 358, 386, 390, 700, 728, 762, 857, 883, 902, 939, 998, 1088, 1186, 1398, 1800, 1898, 1919, 2318, 2328, 2388, 2600, 2628, 2777, 2800, 2899, 3328, 3968, 3988 0.2% of option value + exchange fee of HKD 1.00 per contract HKD 18.00 2 Contracts @ HKD 0.14 Premium
(1,000 Multiplier) = HKD 20
Japan
All YEN 500 per contract YEN 500 1 Contract = YEN 500
South Korea
All 0.2% of option value KRW 1,000 10 Contracts @ KRW 0.75 Premium
(100,000 Multiplier) = KRW 1,500


Notes:
  • Commissions apply to all order types.
  • All exchange and regulatory fees included except for Hong Kong stock options.
  • Commissions are not charged for exercise and assignment, except in Australia.
  • Unbundled pricing available for index options. See futures commissions for more information.
  • VAT, also referred to as consumption tax, goods and services tax, where applicable, will be separately applied for eligible services.

    •  
  • 1Australia commission includes AUD 1.88 commission + AUD 1.12 Australian Clearing House (ACH) fee. Also, AUD 2.75 will be added for exercise/assignment (includes ACH fee of AUD 0.55).
  • 2The sliding scale for Indian commissions is incremental per tier per month.
  • 31 lac = approx. INR 100,000.
      1 crore = approx. INR 10,000,000.
  • 4For all exercise and assignments standard stock commissions apply plus Stock Exchange Options Clearing House (SEOCH) fee of HKD 2.00 per contract.
  • 5In the case of intra-day trades on the NSE, in which a position is opened and closed on the same day, IB commissions will only be charged on the opening leg. Other charges such as STT, reg fees, exchange fees, etc. will apply to both legs.
Futures and Futures Options

Futures / Overview


Interactive Brokers - 69% lower than our competitors

US Markets


Cost-Plus FIXED

Our transparent Cost-Plus Fixed pricing for futures in US markets includes our low broker commission plus exchange, regulatory and clearing fees. You are not charged a carrying fee for positions held overnight. 1

Cost Plus FIXED Pricing Schedule


Cost-Plus TIERED

Our transparent Cost Plus Tiered pricing for futures in US markets includes our low broker commission, which decreases depending on volume, plus exchange, regulatory and carrying fees. 1

Cost Plus TIERED Pricing Schedule

Non-US Markets


Flat Rate

Our Flat Rate pricing for futures in non-US markets charges a single flat rate per contract or percent of trade value, including all commissions, exchange, regulatory, clearing and carrying fees.

Flat Rate Pricing Schedule


Cost-Plus TIERED

Our transparent Cost Plus Tiered pricing for futures in non-US markets includes our low broker commission, which decreases depending on volume, plus exchange, regulatory and carrying fees. 1

Cost Plus TIERED Pricing Schedule

US Commission Rates Comparison 2
 
 
1 E-Mini S&P 500 Future
  
Interactive Brokers
$0.85
  
E-Trade
$2.99
  
Fidelity
N/A
  
optionsXpress
$3.50
  
Schwab
N/A
  
TD Ameritrade
$2.25
  
thinkorswim
$2.25
  
 
Interactive Brokers has lower commission rates for larger volumes and comparable rates worldwide.
Interactive Brokers
69%
lower than our competitors

Barron's Logo
Barron's 4.5 Stars
Rated Best Online Broker - 2013
Best for International Traders
Best for Frequent Traders
Low Cost for 9th Year in a Row 3
  1. IB's Cost Plus commission models are not guaranteed to be a direct pass-through of exchange and third-party fees and rebates. Costs passed on to customers in IB's Cost Plus commission schedule may be greater than the costs paid by IB to the relevant exchange, regulator, clearinghouse or third party. For example, IB may receive volume discounts that are not passed on to customers. Likewise, rebates passed on to customers by IB may be less than the rebates IB receives from the relevant market.
  2. Rates were obtained on March 1, 2013 from each firm's website. Some of the firms listed may have additional fees and some firms may reduce or waive commissions or fees, depending on account activity or total account value. Supporting documentation for any claims and statistical information will be provided upon request.
  3. Interactive Brokers earned a 4.5 star ranking in the March 11, 2013 Barron's Annual Best Online Brokers. *Low Cost Rated by Barron's 9 Years Straight - Low cost broker 2005 through 2012 according to Barron's online broker review. 2005 - 5 Stars, 2006 - 5 Stars, 2007 - 4.8 Stars, 2008 - 4.5 Stars, 2009 - 4.5 Stars, 2010 - 4.2 stars, 2011 - 4.5 stars, 2012 - 4.3. Back Online - March 11, 2013, Barron's ranked Interactive Brokers with a 4.3 star rating for cost. Criteria included Trade Experience and Technology, Usability, Mobile, Range of Offerings, Research Amenities, Portfolio Analysis & Report, Customer Service & Education, and Costs.

Futures Cost-Plus Fixed (US Markets)

Our transparent Cost-Plus Fixed pricing for futures in US markets includes our low broker commission plus exchange, regulatory and clearing fees. You are not charged a carrying fee for positions held overnight. 1


Cost-Plus Fixed Commission per Contract
  USD EUR GBP CAD CHF HKD AUD SEK SGD JPY CNH
US-Future and Future Options 0.85 0.65 0.60 0.85 0.95 7.00 0.95 6.50 1.20 85.00 5.50
Globex e-mini FX Futures 0.50 N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A
Globex e-micro FX Futures 0.15 N/A N/A 0.15 0.15 N/A N/A N/A N/A 15.00 1.00

United States - Fees to Offset Exchange, Regulatory, and Vendor Fees paid by IBKR 3, 4
CBOT CFE CME (Electronic-Globex) Small Exchange
ICE US NYBOT NYMEX NYSE LIFFE
QB Algo
  • Commissions apply to all order types.
  • All fees are charged in the currency of the traded product.
  • VAT, also referred to as consumption tax, goods and services tax, where applicable, will be separately applied for eligible services.
  • Modified orders will be treated as the cancellation and replacement of an existing order with a new order. On certain exchanges, this may have the effect of subjecting modified orders to commission minimums as if they were new orders. For example, if an order for 200 contracts is submitted and 100 contracts execute, then you modify the order and another 100 contracts execute, a commission minimum would be applied to both 100 contract orders. Orders that persist overnight will be considered a new order for the purposes of determining order minimums.
  • The standard commission will be charged for the exercise or assignment of any Futures or Future Options Contract. Click here for details.
  • Single Stock Futures are not available for volume tiered pricing.

  1. IB’s Cost Plus commission models are not guaranteed to be a direct pass-through of exchange and third-party fees and rebates. Costs passed on to customers in IB’s Cost Plus commission schedule may be greater than the costs paid by IB to the relevant exchange, regulator, clearinghouse or third party. For example, IB may receive volume discounts that are not passed on to customers. Likewise, rebates passed on to customers by IB may be less than the rebates IB receives from the relevant market.
  2. Volume tiers are applied based on monthly cumulative trade volume summed across all futures and futures options contracts at the time of the trade. Only contracts that are traded while under the Volume Tiered pricing structure will count towards the monthly volume. Contract volumes for advisor, institutions, and broker accounts are summed across all accounts for the purpose of determining volume breaks. These fees are applied on a marginal basis for a given calendar month. If for example, you execute 1,500 US contracts in a month, your IB execution costs would be: 1,000 contracts at USD 0.60 and 500 contracts at USD 0.45
  3. Carrying charges are applied for each net futures contract, net short call futures options, or net short put futures options on a single underlying for each business day the net futures position is held overnight. The carrying fee for accounts with excess equity in between the minimum requirement and 3x the minimum will have their carry fees extrapolated based on the table above.
  4. Non-member exchange and regulatory fees are applied, unless a customer is pre-qualified by IB. Contact your sales person for more information.
  5. Exchange and Regulatory fees only apply for CFE.
  6. For the purpose of determining the monthly volume tier, each Globex e-mini FX product will count as ½ the volume of one standard size future contract. Each Globex e-micro FX product will count as 1/10 the volume of one standard size future contract, i.e. for every 10 e-micro FX Globex product traded, the monthly volume will increase by 1.
Futures and Futures Options / Bundled Europe
Tier
 Commissions
per Contract		 Minimum per Order
Example
1 Roundturn =
Belgium
All EUR 4.50 EUR 4.50 EUR 9.00
France
All EUR 2.00 EUR 2.00 EUR 4.00
Germany
All (including SSF) EUR 2.00 EUR 2.00 EUR 4.00
Italy
SPMIB30
MFIB		 EUR 3.00 EUR 3.00 EUR 6.00
Mini MFIB30 EUR 2.00 EUR 2.00 EUR 4.00
Netherlands
All EUR 3.00 EUR 3.00 EUR 6.00
Spain
IBEX35 EUR 3.00 EUR 3.00 EUR 6.00
Mini IBEX35 Futures EUR 1.25 EUR 1.25 EUR 2.50
Mini IBEX35 Options EUR 0.80 EUR 0.80 EUR 1.60
Single Stock Futures EUR 2.00 EUR 2.00 EUR 4.00
Sweden
All SEK 20.00 SEK 20.00 SEK 40.00
Switzerland
All (including SSF) CHF 4.00 CHF 4.00 CHF 8.00
United Kingdom
All not listed below GBP 1.70 GBP 1.70 GBP 3.40
LIFFE Coffee and Sugar USD 3.10 USD 3.10 USD 6.20
Intercontinental Exchange
(USD Denominated Contracts)		 USD 2.40 USD 2.40 USD 4.80
Single Stock Futures
(GBP Denominated Contracts)		 GBP 1.70 GBP 1.70 GBP 3.40
Single Stock Futures
(USD Denominated Contracts)		 USD 2.75 USD 2.75 USD 5.50
Single Stock Futures
(EUR Denominated Contracts)		 EUR 2.50 EUR 2.50 EUR 5.00
Single Stock Futures
(CHF Denominated Contracts)		 CHF 3.75 CHF 3.75 CHF 7.50
Notes:
  • Commissions apply to all order types.
  • All exchange and regulatory fees included.
  • VAT, also referred to as consumption tax, goods and services tax, where applicable, will be separately applied for eligible services.
  • The standard commission will be charged for the exercise or assignment of any Futures or Future Options Contract. Click here for details.
Futures and Futures Options / Bundled Asia-Pacific
Tier
 Commissions Minimum per Order
Example
1 Roundturn =
Australia
All AUD 5.00 per contract AUD 5.00 AUD 10.00
Hong Kong (includes all exchange fees)
HSI HKD 30.00 per contract HKD 30.00 HKD 60.00
MHI HKD 17.00 per contract HKD 17.00 HKD 34.00
HFI.HK, HHI, MCH HKD 20.00 per contract HKD 20.00 HKD 40.00
Single Stock Futures HKD 28.50 per contract HKD 28.50 HKD 57.00
India(1) (plus Securities Transaction Tax, Exchange Charges, and Service Tax)
=< 10 Crores(2) 0.03%(4) INR 50 333 contracts x 50 x 6,000 = 99,900,000 x 0.03% = 29,970 INR
10 =< 20 Crores(2) 0.02%(4) INR 50 [(333 contracts x 50 x 6,000) x 0.03%] + [(333 contracts x 50 x 6,000) x 0.02%] = 29,970 + 19,980 = 49,950 INR
=> 20 Crores(2) 0.01%(4) INR 50 [(333 contracts x 50 x 6,000) x 0.03%] + [(333 contracts x 50 x 6,000) x 0.02%] + [(100 contracts x 50 x 6,000) x 0.01%] = 29,970 + 19,980 + 3,000 = 52,950 INR
Japan
All products not listed below JPY 500 per contract JPY 500 JPY 1,000
JGB JPY 750 per contract JPY 750 JPY 1,500
N225 (futures) JPY 400 per contract JPY 400 JPY 800
N225 Mini (futures) JPY 40 per contract JPY 40 JPY 80
MNTPX JPY 150 per contract JPY 150 JPY 300
MJ JPY 75 per contract JPY 75 JPY 150
Singapore
SSG SGD 5.00 per contract SGD 5.00 SGD 10.00
SEY, SJB, SGXNK, SGXNKM JPY 300 per contract JPY 300 JPY 600
APEX50, N225U, NIFTY, STW, XINA50, ZINC USD 2.85 per contract USD 2.85 USD 5.70
AH, CU, ZS USD 2.55 per contract(5) USD 2.55 USD 5.10
South Korea
Futures 0.004% of Trade Value N/A 2 Contracts @ KRW 200
(500,000 Multiplier) =
200,000,0000 x 0.004% = KRW 8,000
Notes:
  • Commissions apply to all order types.
  • All exchange and regulatory fees included.
  • VAT, also referred to as consumption tax, goods and services tax, where applicable, will be separately applied for eligible services.
  • The standard commission will be charged for the exercise or assignment of any Futures or Future Options Contract. Click here for details.

    •  
  • 21 lac = approx. INR 100,000.
    1 crore = approx. INR 10,000,000.
  • 350 = NIFTY contract multiplier.
  • 4IB commissions will be charged only on the opening leg in case of intra-day trades on the NSE (positions opened and closed on the same day). No commissions will be charged on the closing leg, other charges apply on both legs (such as STT, reg fees, exchange fees and etc).
  • 5Commission reduced by USD 0.30 until May 31, 2011.

Futures / Cost-Plus Tiered (Non-US)

Our transparent Cost Plus pricing for futures in non-US markets includes our low broker commission, which decreases depending on volume, plus exchange, regulatory and carrying fees. 11



Cost-Plus Tiered Commission per Contract (unless otherwise noted)
Contract Volume
(per month) 1		 USD
All except
HKG / HKS		 USD
HKG/ HKS 6		 EUR GBP CAD CHF HKD AUD SGD SEK NOK
<=1,000 1.05 0.55 0.90 0.65 1.25 1.40 8.50 3.55 2.25 10 10
1,001-10,000 0.65 0.50 0.60 0.45 0.80 0.90 5.00 2.60 1.50 8 8
10,001-20,000 0.45 0.45 0.40 0.30 0.60 0.60 3.50 1.80 1.00 6 6
>20,000 0.25 0.25 0.25 0.15 0.30 0.35 2.00 1.00 0.65 4 4

Cost-Plus Tiered Commission per Contract (unless otherwise noted)
  JPY
Contract Volume
(per month) 1		 NKVI / N225 / N225M FUT4 JGB MJ / SGXNKM / SGB TOPX MNTPX / TPXC30 / TSEREIT N225 OPT5 All Other
<=1,000 280 / 28 350 50 280 38 12 bps 230
1,001-10,000 210 / 21 295 45 210 31 10 bps 160
10,001-20,000 150 / 15 255 41 150 25 8 bps 115
>20,000 100 / 10 225 38 100 20 6 bps 60

Cost-Plus Tiered Commission
Monthly Traded Value (INR)10
Plus Securities Transaction Tax, Exchange Charges, and Service Tax		 Commissions Minimum per Order
=< 50 crore (500,000,000) 8 0.012% 9 of Trade Value N/A
50 =< 125 crore (1,250,000,000) 8 0.010% 9 of Trade Value N/A
=>125 crore (1,250,000,000) 8 0.008% 9 of Trade Value N/A

Carrying Fee per Contract 2
Product Currency US EUR GBP CAD CHF HKD AUD SGD SEK NOK INR JPY 7
3x Margin Requirements 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
2x Margin Requirements 0.05 0.04 0.035 0.05 0.05 0.40 0.075 0.10 0.35 0.35 0.00 5.00
Meets Margin Requirements 0.10 0.08 0.07 0.10 0.10 0.80 0.15 0.20 0.70 0.70 0.00 10.00

North America - Exchange and Regulatory Fees 3

Canada

Europe - Exchange and Regulatory Fees 3

Belgium

France

Germany

Italy

Netherlands

Norway

Spain

Sweden

Switzerland

United Kingdom

 
 

Asia-Pacific - Exchange and Regulatory Fees 3

Australia

Hong Kong

Japan

Singapore

Execution Only

The below schedule of fees applies only to customers who execute futures trades with IB and then give them up for carrying by another broker.


Execution Fee per Contract
Volume
(per month) 1		 USD EUR GBP CAD CHF HKD AUD SGD SEK JPY
N225 / N225M FUT 4		 JPY
JGB		 JPY
MJ / SGXNKM / SGB		 JPY
TOPX		 JPY
MNTPX / TPXC30 /TSEREIT		 JPY
All Other
<=1,000 Contracts 0.75 0.65 0.45 0.90 1.00 6.00 2.65 1.60 7 200/20 270 42 200 30 130
1,001-10,000 Contracts 0.45 0.40 0.30 0.55 0.60 3.50 2.00 1.00 6 150/15 235 39 150 25 90
10,001-20,000 Contracts 0.35 0.30 0.20 0.45 0.45 2.75 1.50 0.75 5 110/11 215 37 110 21 70
>20,000 Contracts 0.25 0.25 0.15 0.30 0.35 2.00 1.00 0.65 4 80/8 205 36 80 18 60


  • Commissions apply to all order types.
  • All fees are charged in the currency of the traded product.
  • VAT, also referred to as consumption tax, goods and services tax, where applicable, will be separately applied for eligible services.
  • The standard commission will be charged for the exercise or assignment of any Futures or Future Options Contract. Click here for details.
  • Single Stock Futures are not available for Cost-Plus pricing.
  • European and Asian Index Options are available for Cost-Plus Tiered pricing.

  1. Volume tiers are applied based on monthly cumulative trade volume summed across all futures and futures options contracts at the time of the trade. Only contracts that are traded while under the Cost-Plus Tiered pricing structure will count towards the monthly volume. Contract volumes for advisor, institutions, and broker accounts are summed across all accounts for the purpose of determining volume breaks. These fees are applied on a marginal basis for a given calendar month. If for example, you execute 1,500 EUR contracts in a month, your IB execution costs would be:
    1,000 contracts at EUR 0.65
    500 contracts at EUR 0.40

  2. Carrying charges are applied for each net futures contract, net short call futures options, or net short put futures options on a single underlying for each business day the net futures position is held overnight. The carrying fee for accounts with margin in between the minimum requirement and 3x the minimum will have their carry fees extrapolated based on the table above.
  3. Non-member regulatory fees are applied, unless a customer is pre-qualified by IB. Contact your sales person for more information.
  4. For the purpose of determining the monthly volume tier, each mini future contract will count as 1/10 of the volume of one standard size future contract, i.e. for every 10 N225M / MJ / MNTPX futures contracts traded, the monthly volume will increase by 1.
  5. Per Order minimum of YEN 100 applies.
  6. Special introductory fee.
  7. The carry cost on the following mini-future products Singapore-listed SGXNKM and SGB; Osaka-listed N225M; Tokyo-listed MJ and MNTPX will be:

      JPY
    3x Margin Requirements 0.00
    2x Margin Requirements 0.50
    Meets Margin Requirements 1.00

  8. 50 crore represents approximately 2,000 board lots; 125 crore represents approximately 5,000 board lots
  9. IB commissions will be charged only on the opening leg in case of intra-day trades on the NSE (positions opened and closed on the same day). No commissions will be charged on the closing leg, other charges apply on both legs (such as STT, reg fees, exchange fees and etc).
  10. Volumes considered for tiers will include only those trades for which commissions are charged.
  11. IB’s Cost Plus commission models are not guaranteed to be a direct pass-through of exchange and third-party fees and rebates. Costs passed on to customers in IB’s Cost Plus commission schedule may be greater than the costs paid by IB to the relevant exchange, regulator, clearinghouse or third party. For example, IB may receive volume discounts that are not passed on to customers. Likewise, rebates passed on to customers by IB may be less than the rebates IB receives from the relevant market.
US SSF

US SSFs Pricing Structure


IB Commission per Contract
Volume (per month) 1 SSFs ETFs with 1K Multiplier and Futures on Narrow-Based Indexes (NBI's)
<=20,000 Contracts USD0.30 USD1.50
20,001-100,000 Contracts USD0.20 USD1.00
100,001-200,000 Contracts USD0.15 USD0.75
>200,000 Contracts USD0.10 USD0.50

Exchange Fees
  All SSFs, ETFs and Futures on Narrow-Based Indexes (NBI's)
OneChicago 0.002%Trade Value

Carry Fees
  All SSFs, ETFs and Narrow-Based Indexes (NBI's)
OneChicago 0.0001%Open Position Value, charged daily

Regulatory Fees
  All SSFs, ETFs and Narrow-Based Indexes (NBI's)
FINRA USD0.00004per contract, min 0.05 per order


  • Commissions apply to all order types.
  • VAT, also referred to as consumption tax, goods and services tax, where applicable, will be separately applied for eligible services.
  • Modified orders will be treated as the cancellation and replacement of an existing order with a new order. On certain exchanges, this may have the effect of subjecting modified orders to commission minimums as if they were new orders. For example, if an order for 200 contracts is submitted and 100 contracts execute, then you modify the order and another 100 contracts execute, a commission minimum would be applied to both 100 contract orders. Orders that persist overnight will be considered a new order for the purposes of determining order minimums.
  • IB's Cost Plus commission models are not guaranteed to be a direct pass-through of exchange and third-party fees and rebates. Costs passed on to customers in IB’s Cost Plus commission schedule may be greater than the costs paid by IB to the relevant exchange, regulator, clearinghouse or third party. For example, IB may receive volume discounts that are not passed on to customers. Likewise, rebates passed on to customers by IB may be less than the rebates IB receives from the relevant market.
  1. Volume tiers are applied based on monthly cumulative trade volume summed across all SSF contracts at the time of the trade. These fees are applied on a marginal basis for a given calendar month. If for example you execute 300,000 contracts in a month, your commission (exclusive of exchange and regulatory fees) would be:

    20,000 contracts at USD 0.30
    80,000 contracts at USD 0.20
    100,000 contracts at USD 0.15
    100,000 contracts at USD 0.10
EFPs

EFPs Pricing Structure


EFPs
Order Size 1 Flat Rate Commission per Contract
<100 Contracts USD0.50
100-499 Contracts USD0.30
500-1,999 Contracts USD0.25
2,000+ Contracts USD0.20


  • Commissions apply to all order types.
  • All exchange and regulatory fees included.
  • VAT, also referred to as consumption tax, goods and services tax, where applicable, will be separately applied for eligible services.
  • Modified orders will be treated as the cancellation and replacement of an existing order with a new order. On certain exchanges, this may have the effect of subjecting modified orders to commission minimums as if they were new orders. For example, if an order for 200 contracts is submitted and 100 contracts execute, then you modify the order and another 100 contracts execute, a commission minimum would be applied to both 100 contract orders. Orders that persist overnight will be considered a new order for the purposes of determining order minimums.
  • IB’s Cost Plus commission models are not guaranteed to be a direct pass-through of exchange and third-party fees and rebates. Costs passed on to customers in IB’s Cost Plus commission schedule may be greater than the costs paid by IB to the relevant exchange, regulator, clearinghouse or third party. For example, IB may receive volume discounts that are not passed on to customers. Likewise, rebates passed on to customers by IB may be less than the rebates IB receives from the relevant market.
  1. Rates are not tiered on cumulative contracts or execution size, but rather order size. A 250 contract order, executing 50 contracts would be charged USD 0.30 per EFP contract.
Forex

Forex Pricing Structure


 
Example
<= USD 1,000,000,000:
USD 50,000 daily volume for EUR = USD 2.00
USD 1,000,000,000 monthly volume for EUR = USD 20,000

USD 1,000,000,001 - 2,000,000,000:
USD 1,250,000,000 monthly volume for EUR = USD 23,750
Monthly Trade Amount1 Commissions Minimum per Order1
<=USD 1,000,000,000 0.20basis point 2 * Trade Value 3 USD 2.00
USD 1,000,000,001 - 2,000,000,000 0.15basis point 2 * Trade Value 3 USD 1.50
USD 2,000,000,001 - 5,000,000,000 0.10basis point 2 * Trade Value 3 USD 1.25
>USD 5,000,000,000 0.08basis point 2 * Trade Value 3 USD 1.00


  • Commissions apply to all order types.
  • All exchange and regulatory fees included.
  • Modified orders will be treated as the cancellation and replacement of an existing order with a new order. On certain exchanges, this may have the effect of subjecting modified orders to commission minimums as if they were new orders. For example, if an order for 200 shares is submitted and 100 shares execute, then you modify the order and another 100 shares execute, a commission minimum would be applied to both 100 share orders. Orders that persist overnight will be considered a new order for the purposes of determining order minimums.
  • VAT, also referred to as consumption tax, goods and services tax, where applicable, will be separately applied for eligible services.
  1. Or USD currency equivalent
  2. 1 basis point=0.0001.
  3. Commissions for forex trades are calculated off the trade value and then converted and charged to the base currency of the account.
Bonds

Bonds Pricing Structure

North America
Europe
Asia-Pacific

North America

United States - Corporate and Municipal Bonds
Example
<= USD 10,000 Face Value:
USD 5,000 Face Value = USD 5.00

> USD 10,000 Face Value:
USD 20,000 Face Value = (0.1% x 10,000) + (0.025% x 10,000)
= USD 10.00 + USD 2.50
= USD 12.50
Commissions Minimum per Order Maximum per Order
<= USD 10,000 Face Value 0.1%* Face Value (10 bps) 1, 2 None None
> USD 10,000 Face Value 0.025%* Face Value (2.5 bps) 1, 2 None None

United States - Treasuries (Bills, Notes, Bonds)
Example
<= USD 1,000,000 Face Value:
USD 1,000,000 Face Value = (0.025% x 1,000,000)
= USD 250.00

> USD 1,000,000 Face Value:
USD 2,000,000 Face Value = (0.025% x 1,000,000) + (0.005% x 1,000,000)
= USD 250.00 + USD 50.00
= USD 300.00
Commissions Minimum per Order Maximum per Order
<= USD 1,000,000 Face Value 0.025%* Face Value (2.5 bps) 1 USD 5.00 None
> USD 1,000,000 Face Value 0.005%* Face Value (0.5 bps) 1 USD 5.00 None


United States - Treasuries (Bonds executed via BONDLARGE )
Example
USD 1,000,000 Face Value:
USD 1,000,000 Face Value = $ 5.00
Commissions Minimum per Order Maximum per Order
$5.00 per USD 1,000,000 Face Value USD 5.00 None

External Fees

External fees are passed through at cost.

United States
BondDesk NYSE Bonds
MuniCenter TradeWeb

Transaction Fees

United States
  Fees
FINRA Trading Activity Fee USD 0.00075 * Quantity Sold 5

Europe

Commissions Minimum per Order Maximum per Order
Trade Value =< 50,000 3 0.1%* Trade Value (10 bps) EUR 2.00 None
Trade Value > 50,000 and <= 5,000,000 3 0.035%* Trade Value (3.5 bps) EUR 2.00 None
Trade Value > 5,000,000 3 0.015% * Trade Value (1.5 bps) EUR 2.00 None

External Fees

External fees are passed through at cost 4.


Europe
Euronext Bonds

Asia

Hong Kong - Flat Rate 6, 7
  Flat Rate Minimum Per Order Maximum Per Order
Government Bonds 0.08%of trade value HKD 18 None

Hong Kong - Cost Plus Fees
Monthly Trade Value (HKD) 8 Fee Per Trade Value Minimum per Order Maximum per Order
<=15,000,000 0.080% HKD 18.00 None
15,000,001 – 300,000,000 0.050% HKD 12.00 None
300,000,001 – 900,000,000 0.030% HKD 8.00 None
900,000,001 – 2,000,000,000 0.020% HKD 6.00 None
>2,000,000,000 0.015% HKD 4.00 None

Hong Kong - Exchange, Clearing and Pass-through Fees (per exchange)
Hong Kong Stock Exchange (SEHK)
  • Value tiers are applied based on monthly cumulative trade volume summed across all stock, warrants and ETF shares. This is calculated once daily, not at the time of the trade. As such, execution reductions will start the next trading day after the threshold has been exceeded. Only shares that are traded while under the Cost Plus pricing structure will count towards the monthly volume. Share volumes for advisor, institution, and broker accounts are summed across all accounts for the purpose of determining volume breaks. These fees are applied on a marginal basis for a given calendar month.
  • VAT, also referred to as consumption tax, goods and services tax, where applicable, will be separately applied for eligible services.
  • Modified orders will be treated as the cancellation and replacement of an existing order with a new order. On certain exchanges, this may have the effect of subjecting modified orders to commission minimums as if they were new orders. For example, if an order for bonds with USD 20,000 Face Value is submitted and 10,000 face value executes, then you modify the order and another 10,000 face value executes, a commission minimum where applicable would be applied to both 10,000 face value executions. Orders that persist overnight will be considered a new order for the purposes of determining order minimums. >
  1. 1 basis point=$0.0001
  2. Commissions are tiered. For example, for US corporate and muni bonds, the first 10K in face value is charged @ 0.1% and any remaining principal over 10K is charged at 0.025%.
  3. Trade Value = Nominal*PriceInPercent/100.
    For example:
    Nominal = EUR 8000.
    Price = 106.62 %
    Total Value = 8000*106.62/100 = 8529.60
    Commission 0.1 % = 8529.60 * 0.001 = EUR 8.53
  4. The exchange levies a charge of EUR 2.00 per order for each order over the exchange-allowed 5:1 order to execution ratio. New orders and order modifications count in the ratio, cancels do not.
    For example:
    Four orders are submitted, and each is modified one time. One execution results and the charge is EUR 6.00. The calculation is shown below:
    4 orders + 4 modifications = 8 orders compared to 1 execution, giving an order to execution ratio of 8:1.
    The difference between our order ratio of 8:1 and the exchange-allowed ratio of 5:1 is 3 (8:1 – 5:1 = 3)
    3 x EUR 2.00 = EUR 6.00
  5. Maximum USD 0.75 per trade.
  6. Exchange and regulatory fees are not included.
  7. Exchange trading fees, exchange trading tariff, CCASS settlement fees, and CCASS custody fees are included. Government stamp duty (0.1% rounded up to the nearest 1.00, applies to stocks only) and SFC transaction levy (0.003%, applies to stocks and warrants) are directly passed through to the customer.
  8. For more information on how the monthly tiers are calculated, please click here.
Mutual Funds

Mutual Funds Flat Rate

North America
Europe

North America


United States
Fees Price
IB Transaction Fee USD14.95Per Transaction


  • Commissions apply to all order types.
  • All exchange and regulatory fees included.
  • Only no-load funds with no early redemption fee are offered.
  • Minimum size on initial fund order is USD 3,000, subsequent minimum order size is USD 100.

Europe

Our Flat Rate pricing for European mutual funds charges a set percent of trade value, and includes all IB commissions, exchange and regulatory fees.


Flat Rate Minimum Per Order Maximum Per Order
EUR-denominated 0.1%of trade value EUR 4.00 EUR 29.00
CFDs
CFDs (Contract for Difference)

Tier
 Trading Currency Commissions per Contract Minimum per Order
Australia
All CFDs AUD 0.05% of trade value + 1.5% per annum open interest charge AUD 6.00
All CFDs USD 0.05% of trade value + 1.5% per annum open interest charge USD 4.00
Notes:
  • Commissions apply to all order types.
  • All exchange and regulatory fees included.
  • VAT, also referred to as consumption tax, goods and services tax, where applicable, will be separately applied for eligible services.
Trade Desk

Trade Desk Pricing Structure


United States
Product Commissions Minimum per Order Third-party Fees
Stocks and ETFs USD0.01per share USD 100 Exchange Fees
Clearing Fees
Transaction Fees
Options USD0.95per contract USD 95 Exchange Fees
Regulatory Fees
Clearing Fees
Transaction Fees
Futures USD3.00per contract USD 300 Exchange and Regulatory Fees
Carrying Fees
Futures Options USD3.00per contract USD 300 Exchange and Regulatory Fees
Carrying Fees
AQS