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(all order types, exchange and regulatory fees included) IB offers two types of forex, IDEAL Pro for forex traders of over $25,000 USD or equivalent, and IDEAL for currency conversions under $25,000. Unlike some other brokers that build their commissions into the spread, IB provides for transparent pricing by splitting dealer spreads
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Trading Fees of Interactive Brokers: Stock Fees and ETF Fees: For every $2000 trade, Interactive Brokers charge $1.0, $7.2, and $4.4 for US stock, UK stock, and German Stock respectively. Forex Fees: Interactive Brokers charges $17.9 as a EURUSD benchmark fee and $13.0 as a EURGBP benchmark fee for every $20,000 30:1 open position.
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Forex Commissions - Interactive Brokers
InteractiveBrokers. Open a Trading Account. Interactive Brokers fees spread and commissions start from 0.03% – 0.07% and spreads from 0.0 pips. Interactive Brokers does not charge any deposit fees or withdrawal fees. Interactive Brokers do not charge an inactive fee. Interactive Brokers has a low and incredibly competitive spread when compared to what other brokers offer by offering a spread list which varies depending on the type of account and the financial instrument being traded.
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Account Fees: Minimum Balance. USD 0: USD 0: Maintenance Fee. USD 0: USD 0: Interest Paid on Idle Cash Balances 3. Benchmark minus 1.5%: Benchmark minus 0.5%: Interest Charged for Margin Loan. Benchmark plus 2.5%: Begins at Benchmark plus 1.5%, with lower rates for higher loan values. 4: Eligible Accounts: US Retail Investors 5. Institutional Accounts 6. Advisors 7,8. Brokers 9,10
The minimum charge by Interactive Brokers for forex is similar to Saxo Bank’s $3 per-order fee charged when trading less than 50,000 units of currency. Commissions and execution method: For forex traders, Interactive Brokers aggregates prices from 17 of the world's largest interbank forex dealers. Instead of marking up spreads, Interactive Brokers charges a commission per trade, which ranges from $16 to $40 per million round turn ($8 to $20 per side).
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It's safe to say that Interactive Brokers's fees are low in general. They either don't charge a brokerage fee for things other brokers do charge for, or they only charge a small amount. This means that you can use Interactive Brokers even in case you trade frequently like multiple times a week or daily.
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