Interactive Brokers $1 fee per every order?

[William Meyer 3]

Hi,

I just signed up for the IBKR Pro plan using DAS Trader and I was under the impression that there was a commission structure of .0035 per share traded, but I was not aware there is a $1 fee for EVERY order you place. So when I just took my first test trade in my live account I took a very small position to make sure everything was working properly and I made $5 on the trade but took 3 partials and was charged $1 for every partial and $1 when I sold the rest of my position so I only made $1 on the trade overall. Is there a $1 fee every time you partial with Interactive Brokers? 

[Justin 262]

Hey William, you need to switch IB over to tiered pricing.
 

Settings >  Account Settings
On the right you’ll see IBKR Pricing Plan. Click the gear and then select Tiered.

 

[William Meyer 3]

Thanks, Justin! With this option it looks like I will pay .0035 per share with a .35 minimum and pay ECN Fees, is it the case that I won't be charged $1 per filled orer?

 

[Abiel 474]

12 minutes ago, William Meyer said:

Thanks, Justin! With this option it looks like I will pay .0035 per share with a .35 minimum and pay ECN Fees, is it the case that I won't be charged $1 per filled orer?

 

Correct, see this link click on TIERED and FIXED https://www.interactivebrokers.com/en/index.php?f=commission&p=stocks2

[William Meyer 3]

Thanks a bunch, I greatly appreciate the help and speedy responses! 

 

[Márky András 0]

Hi All!

Thank you too, I was in the same mistake! Now is working properly. Thank you again!