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JasonH

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JasonH last won the day on June 10 2020

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  1. Thanks for sharing @Ahmad. $0.0055 is also what I thought it would be based on IB website (for share sizes not running into minimums). This also confirms $0.0025 is a good estimate for ECN fees at IB, and the Fixed rate does in fact include everything but SEC and FINRA.
  2. It’s not that simple since there are other fees involved with trading besides commissions. All fees were included in the calculations and charts that I shared. It looks like the lines for Fixed and Tiered intersect around 150-175 shares.
  3. @Justin Thanks for sharing the chat log. To be clear about what Justin is saying about commissions for partials adding up... that's only relevant for small share sizes that run into the minimum commission, and we already know Fixed pricing may be a problem in that case (trades less than about 150 shares as shown in the chart). Most traders with IBKR Pro accounts funded >$25,000 are going to have trades >>500 shares. My IBKR Pro account was setup this weekend. Going to request Fixed pricing. I'll share the results. Probably a "Misc" fee of $0.50 per second you hold the trade open or something like that.
  4. Here's a trade where I did run into the minimum commission at CMEG ($0.50 if you use BEARBULLCMEG2018 per-share pricing). One order, three fills, but just one minimum commission.
  5. @Justin, do you have actual account data to support commissions being applied to each transaction/fill at IB? I only know what they do at CMEG, where the commissions are per order/ticket, not transaction/fill. Here's an example from my account report. One order/ticket = one commission (but three fills).
  6. Thanks for sharing that. For that video, Andrew's commission rate would be at the lowest volume tier, $0.0035/share, since that's his lower volume account and it's also recorded on Oct 6th, the 4th trading day of that month. Add $0.0025/share ECN to that and you get $0.006/share, which is exactly what he calculates earlier in the video for Oct 6th's trades. So $0.0025/share average ECN fee for IBKR Pro Tiered agrees very well with Andrew's results in the video.
  7. Here are some calculations and charts for comparing Tiered vs Fixed for IBKR Pro. The difference isn't going to make or break your career as a retail day trader as far as I can tell, but I'd like to know more if anyone uses Fixed pricing. Is it really just $0.005/share + SEC + FINRA? Also, for you guys with IBKR Pro Tiered accounts, what is your average ECN fee? Is $0.0025/share a good average over the course of a month? Tiered Vs Fixed (low volume): Tiered Vs Fixed, Medium Volume (300K-3M)
  8. Our Fixed pricing for stocks, ETFs (Exchange Traded Products, or ETPs) and warrants charges a fixed amount per share or a set percent of trade value, and includes all IB commissions, exchange and most regulatory fees with the exception of the transaction fees, which are passed through on all stock sales. https://www1.interactivebrokers.com/en/index.php?f=1590&p=stocks1 A key difference to note between the tiered and fixed pricing is that tiered commissions don’t include regulatory, exchange and clearing fees. The fixed pricing factors those fees in. https://www.magnifymoney.com/blog/investing/interactive-brokers/
  9. You guys are overlooking the fact that ECN and other pass through fees are included in Fixed per-share price. That’s about $0.0025 per share on average. So add that to $0.0035 and now you’re looking at $0.006 per share. Again, this is the whole point of Fixed pricing. At least per IB website. Looking for real world confirmation if someone here actually has an account. Tiered is only going to be cheaper for sizes of about 150 shares and less. I’ll send graph and Excel later.
  10. Interactive Brokers Fixed commission structure, if I understand it correctly, looks dirt cheap for traders that are usually in the lower volume tiers (<300k share monthly). Anyone have an IBKR Pro Fixed pricing account? Can you share a couple lines from your statements so we can confirm the commissions? Does that commission rate ($0.005/share) really include everything except SEC and FINRA TAF?
  11. Awesome! I was looking for way to get something like that...
  12. Jina, did you update your BUY/ENTRY hotkey too? You have to update that hotkey as well. You need to add "Price=Ask;" at the end of the entry hotkey. That command stores the price in the montage window, which is retrieved later when you need to sell to capture $100. My post from Friday gives more details. The "can't get valid price" error message sounds reasonable if you didn't update the entry hotkey.
  13. Jina, what problems did you run into? The hotkeys I mentioned worked for me today in sim.
  14. FYI, this hotkey will fail if you don't have >$100 in Unrealized P&L. Since it approximates entry/exit prices using best Bid/Ask prices, it may even fail in some cases around $100. So don't delete your other hotkeys in case that happens!
  15. I think I have found a way to do this. It requires modifications to both your entry and exit hotkeys. For the entry hotkey, you need to add "Price=Ask" at the end: Buy (long position): Price=ASK+.10; Share=BP*.98; TIF=DAY+; ROUTE=LIMIT; BUY=Send; Price=Ask; "Price=Ask" stores the purchase price in the montage PRICE field. This may not be the actual purchase price (your order is ASK+0.10 in this case) but I don't think the hotkeys have a way to actually retrieve the real price your order was filled at. (It'd have to see into the future.) Sell/Partial: Price=Price-Bid; Share=100/Price; Price=Bid-.10; TIF=DAY+; ROUTE=LIMIT; SELL=Send; The commands in bold are essentially doing this: number_of_shares = $100 / (sell_price - current_price) Remember it's an approximation since the hotkey doesn't now what price your orders are actually being filled at. So it just assumes the best Bid and Ask prices in the Level II.
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