Interactive Brokers

[zahamza 0]

Hello friends!

 

I just opened and funded my Interactive Brokers account. Two quick questions:

 

Should I select fixed or tiered commission structure?

 

Right now I am in the DAS sim, but, how do I go about getting a personal DAS subscription and then link that to my IB account?

 

Thanks guys! Its awesome to have so many knowledgable people as part of this community!

[Lee W 82]

I think most people select tiered. Based on my trade journal, tiered has been less expensive.

 

The DAS site gives direction on how to get the subscription and link it to your IB account. When you go to their site, click SUBSCRIBE at the top. Choose "For Interactive Brokers." The next screen shows the steps.

 

http://dastrader.com/

 

Also, here's a DAS video on linking them:

 

[zahamza 0]

Thanks, Lee!

[bike2la 0]

I also setup IB account few days ago.

It takes about 48hrs for your account to go live with DAS.

Also, make sure to go into your control panel and switch over to tiered commission plan. It takes 24hrs.

 

My experience with IB & DAS

1) I had cancel my sim subscription and request refund for unused portion.

2) Subscript to IB DAS Deluxe Plan @ $150/month

3) follow DAS request instructions

4) wait for their confirmation email from IB when the acct will go live.

 

JP

[toan0820 2]

Hi guys,

Do you have to call IB to open an acct or just open online? and

When u open IB acct, do you have to trade right away? I am thinking of open an acct now, deposit and finish my SIM in 2 weeks before go live. Thanks in advance.

 

TD.

[Carlos M. 230]

Hey TD,

 

You can open the account online, no need to call. You can also open your account and fund it while you finish your simulation. IB does not require you to trade right away and there are no monthly fees. I opened my account and didn’t trade for about 2-3 weeks.

 

Carlos M.

Skype ID: C_moreta

 

[bike2la 0]

factor in the about 2 days for DAS & IB to link up.

 

also if u have under $10K you can only trade 4x/week(1 full trade a day)

I learned the hard way yesterday by trading 3x and they put my acccount on hold until next Friday ( possible PDT )

I totally forgot about this rule.

[toan0820 2]

Thanks Carlos.

[Abiel 474]

Check out this video on DAS Trader Pro youtube channel:

[toan0820 2]

Hi guys,

what's the diff between fixed and tiered commission? I did some research but still a little confused about it.

[Lee W 82]

Fixed is $0.005 per share. Exchange and regulatory fees are included.

 

Tiered is $0.0035 per share, but then it goes down once you’ve traded more than 300,000 shares in a month. The first 300,000 are at that rate, the rest are at the next lower rate, and so on. Their chart shows this. Also, you still pay the exchange, regulatory, and clearing fees.

 

Here’s the link. You can click on tiered or fixed at the top.

 

Commission Pricing at Interactive Brokers

[Jason H. 53]

Lee, can you give a typical example? I chose fixed pricing because I couldn't tell what the exchange fees would ultimately amount to.

[Lee W 82]

Jason,

 

I'm actually not completely sure what's what when it comes to the fees. We have exchange, regulatory, clearing, transaction, ECN, SEC, and FINRA. I assume that the regulatory fees are SEC and FINRA (shown in the DAS Account Report). The IB site does show a table for exchange, clearing, and transaction fees. When you go to the link I posted above, then to Tiered, scroll down and you'll see them.

 

Overall, I think the tiered plan is the least expensive. If you trade a LOT of shares, then a fixed rate per trade would be a better option, but IB doesn't offer that.

[U R 0]

Hello

I have just joined Bearbulltraders and IB. I do have DAS simulator account don't know how to start up with. I should have 25k or so paper account? Please help or direct me to demo video.

[Abiel 474]

Watch this video Umesh:

: