Broker Account Minimum

[Serhiy793 0]

Good day everyone!

Can someone please explain what is Broker account minimum? I opened IBKR PRO cash account for swing and long-term investing but I am about worried about below information I found on their website. Since I will not be an active trader I will not ganerate a lot of commissions on monthly basis and I plan to start with only 10 000USD. How can they charge 3000USD maintenance fee as stated in below example?

Initially I wanted to open IBKR Lite account but since I live in Poland,  I am not eligible for such account.

A USD 10,000 (or non-USD equivalent) up front deposit will be required that will be applied against commissions during the first 8 months.

 

Time Period	Required Minimum Commissions	Examples (USD or non-USD equivalent)
The first 8 months	USD 10,000 (or non-USD equivalent)	If total commissions paid during the first 8 months are less than the required minimum, the difference is paid as a maintenance fee. Example: USD 10,000 minimum - USD 7,000 commissions = USD 3,000 maintenance fee.

Starting the 9th month

USD 2,000 per month (or non-USD equivalent)

If total commissions paid during any month after the first 8 months are less than the monthly minimum, the difference is paid as a maintenance fee. Example: USD 2,000 minimum - USD 1,400 commissions = USD 600 maintenance fee.

Thank you in advance.

Serhiy

[Brendon 146]

It would be best if you call their customer support line for such questions. I only have experience with the IB in the USA, sorry. 

[Abiel 475]

Serhiy, that info you pasted is for BROKERS.

For individuals, see here:

https://www.interactivebrokers.co.uk/en/index.php?f=38234

[Serhiy793 0]

Thank you.