What is Interactive Brokers or IBKR fees in Canada ?

  • Asked By
  • Updated On:
  • Replies:

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.

Tagged With: interactive brokersibkribkr feesonline trading ibkribkr canadainteractive brokers canada
Ask Your Query for FREE, Get quick answers from our FINTRAKK community!
Discussion (0)
Related FAQs
What is the Best Online Stock Trading Site for a Beginner in Canada?

There are several choices available to Canadians who want to invest in the stock market online. Questrade ranks higher a sone of the best stock trading site for a beginner in Canada, offering access to both the Canadian and American stock markets.

Is it better to invest with a bank or broker in Canada?

Whether you choose a broker or invest in a bank, both of them can be crucial. Usually, the initial investors prefer banks and when they want more flexibility they invest in a broker to do all the middle work.

How much do you need to start a brokerage account in Canada?

No minimum amount is required to open a brokerage account in Canada. However, if the balance is less than $20,000, you will be charged $100 annually as an account fee.

How to open TD Ameritrade Account in Canada?

You cannot open a TD Ameritrade account in Canada unless you are an American or have US citizenship. So, if you are a Canadian citizen, you cannot open account with this US stock broker.

Is ThinkorSwim available in Canada?

TD Direct Investing has re-enabled the ability for new Canadian customers to sign up for Thinkorswim platform. So, now you can open an account with a requirement of minimum deposit of $25,000 USD. You can find Thinkorswim as a top-of-your game-traders platform on their official site.

Earlier, ThinkorSwim was not available to Canadian users for sometime. TD-Direct Investing, which was providing the platform to its users had replaced it with another trading platform known as Advanced Dashboard.

But, now Canadian citizens who have a TD account can access ThinkorSwim. In order to get ThinkorSwim, you need to have a TD Ameritrade account which is a U.S based broker.

Is Virtual Brokers free?

No, Virtual Brokers is not completely free. Only the account opening and maintenance is free but there are multiple other charges that you will have to incur. There are platform charges for using the advanced trading platform that it offers. Similarly, you will have to pay commissions on the trades that you execute on the platform. Apart from that, there are also some additional administrative and market data fees that you will have to pay while using Virtual Brokers.

What brokerage companies allow fractional shares in Canada?

A fractional share is a small part of a company's stock which is less than one full share of the company and can be owned by an individual. An investor can buy fractional shares in Canada with platforms like Wealthsimple Trade and Interactive Brokers, etc. Go through the post to understand it completely.

What is the best forex broker in Canada?

We compared top three Forex brokers in Canada, based on various factors like its regulator, commission, pip, minimum deposit, etc. We believe that Ava Trade is the best Forex broker in Canada.

Is E*Trade available in Canada?

Currently, Etrade is not available in Canada as the broker operates solely in the U.S. Therefore Canadian citizens cannot open an account with ETrade. The broker used to operate in Canada but stopped its operations after 2008. There are many other low-cost brokers available in Canada such as Questrade that you can consider while opening an account.

Is Webull available in Canada?

Webull is a U.S based stock broker which is also available for Canadian users. Canadian citizens can open an account with Webull.