Received notification that IBKR will no longer charge USD$10 pm from 1st July 2021.
Time to transfer out from my white label.

But for how long? What if they charge it again someday?

Trade station never charge and about the same as IKBR

about the same? my fees are .30 cents per trade compared to 1.50 for TSG

So how to switch to pure ibkr from tsg?

I don’t receive this email. Any reference?

Inactivity fee is it the same as the fee for below 100k USD holdings?

I notice that the biggest difference between TSG and pure IBKR is that the minimum fees for US stocks is (TSG) USD 1.5 vs (IBKR) USD 0.35.

But for EUR denominated stocks/ETFs is (TSG) EUR1.75 vs (IBKR) EUR1.25

If you buy US stocks, seems like you stand to save a lot. But if you're holding the good ol Irish domiciled UCITS ETFs, then the difference is not too much.

Currency exchange/Forex is same with both at minimum USD 2.

not that it matters, but I've noticed that there is a "REQUIRED MINIMUM COMMISSIONS" thing now?

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.

Not sure if anyone can clarify further on this

The fees u mentioned is parked under Title of "Broker Account Minimums"
Broker account might not be the retail client account that we are using, but i cant be sure

but looks most likely it is the case, else the expectation on retail client to generate thousands of USD commission per month is insane.

source: https://www.interactivebrokers.com/en/index.php?f=4969

yeah okay that make sense!
So right now IBKR have no minimum deposit, no inactivity fees! Sounds fantastic to me!

Now anyone can buy 0.001 BRK-A

One of the main advantages of IBKR over TSG is the ability the purchase fractional shares yes?

Rly tempting and can DCA easily

Wouldn't the more common Irish domiciled UCITS ETFs be listed on LSE and therefore be charged min GBP 1.50 per order instead?

Only for US stocks, can't do it for other exchanges if I'm not mistaken.

Permanent. Just ask their customer service. If they charge it one day no problem you. Hehe...

But you pay higher commission.

If you are on whitelabels you won't get it.

It's for broker who want to use their service.

Cheaper fees, fractional shares.

But sometimes these wave of fees only applicable in oversea account.
higher commission is okay for me because I’m not daily trader and i use TDA for option trades

This post has been edited by gunpla student: Jul 9 2021, 06:27 PM

I just saw this email in my inbox. So, yeah!

Convinced a few of my friends to start too.

Anyone know how to transfer from Whitelabel to Ibkr?

hahaha same question, now it's the hassle how to transfer that much of counters from TSG to IBKR

unless maintain both sides, or sold all and buy again but gonna cause a pain to dividend stock

This post has been edited by tadashi987: Jul 9 2021, 07:43 PM

Actually no. Sell. Convert money. Buy back at more or less same price you sold. That solves everything. That's what I learn.

Right now waiting and see who can give a guide in how to transfer position over to Ibkr.

This post has been edited by Ramjade: Jul 9 2021, 07:47 PM

Just FYI in you are interested to delink from TSG.
These were the steps i have taken when I switched to IBKR.

In order to request a manual internal transfer please create a ticket online by following the steps below.
Please log into your client portal -> support -> scroll down to “web ticket” -> compose -> new ticket -> subject: manual internal transfer -> search Ibot -> continue to ticket -> Category: Funds & Banking – Position Transfers -> preview ticket and submit

In the detailed description (body) please mention the source/destination account numbers along with the positions/cash to be transferred. Please note that such transfers are subject to compliance review and approval. Time for review and processing upon approval can take up to 3 weeks.

Cheers.

So far I've only invested in EUR denominated ones thats listed on XETRA (Germany's exchange) and AEB (Netherlands). But yea, GBP ones are GBP 1.50.
At current rate, GBP 1.5 and EUR 1.75 is almost the same anyways.

This method is transferring your stocks in whitelabel to another IB account right?
If I'm not mistaken it is possible to convert your whitelabel account to IB account without the need to create another account.

for your reading yo
https://forum.lowyat.net/topic/4843925/+3900#entry101573740

Thanks!