What is Interactive Brokers or IBKR fees in Canada ?
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- Updated On:22-Feb-2023
- Replies:1
Short Answer
Fees vary depending on the type of account, the products traded, and the volume of trades. For equity trades, a flat rate of CAD 0.005 per share, with a minimum of CAD 1.00 and a maximum of CAD 0.5% of the trade value. For options trades, the fee is CAD 1.00 + CAD 0.75 per contract. There is also an annual account management fee of CAD 10.00.
Detailed Answer
Interactive Brokers (IBKR) is a US-based online brokerage firm that offers a wide range of investment products and services to its clients. The company was founded in 1978 and is headquartered in Greenwich, Connecticut. IBKR is a publicly-traded company and is listed on the NASDAQ stock exchange under the ticker symbol IBKR.
Fees and Charges in Canada
When it comes to investing with IBKR in Canada, one of the most important things to consider is the fees and charges associated with the platform. Understanding these fees and charges can help you to make an informed decision .
IBKR Account Fees:
IBKR charges an account management fee of $10 per month for accounts that have a balance below $100,000. This fee is waived for accounts that maintain a balance of $100,000 or more.
IBKR Trading Fees:
IBKR charges a flat rate of $1 per share for stock trades, with a minimum charge of $1 and a maximum charge of 0.5% of the trade value.
For options trades, IBKR charges a flat rate of $0.70 per contract, with a minimum charge of $1 and a maximum charge of 0.5% of the trade value.
Other Fees:
- It charges a $10 inactivity fee for accounts that have been inactive for a period of 12 months or more.
- It charges a $90 fee for wire transfers.
- It charges a $20 fee for account closure.
It's important to keep in mind that these fees and charges may vary depending on the type of account you have with IBKR and the products and services you use.
IBKR Cost Comparison
When comparing the fees and charges associated with IBKR with other online brokerage firms in Canada, it's important to keep in mind that the company operates under a different business model than many of its competitors.
IBKR is a great option for advanced traders and investors who are looking for a platform with low trading fees and a wide range of trading tools and resources.
It's important to understand the fees and charges associated with IBKR, and to compare them with those of other online brokerage firms in Canada, in order to make an informed decision about whether or not the platform is right for you.
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Discussion (0)
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