Embed Size (px)
Citation preview
1
North America Our Fixed pricing for stocks, ETFs (Exchange Traded Products, or ETPs) and warrants charges a fixed amount per share or a set percent of trade value, and includes all IB commissions, exchange and most regulatory fees with the exception of the transaction fees, which are passed through on all stock sales.
United States 6
Fixed Minimum Per Order Maximum Per Order
USD 0.01 per share USD 2.00 2.0% of trade value 1,
7
United States - Commission-Free ETFs
Product Fixed Minimum Per Order Maximum Per
Order
ACSI ETFs USD 0.00 per share USD 0.00 USD 0.00
Cambria ETFs USD 0.00 per share USD 0.00 USD 0.00
Eaton Vance
NextShares
Exchange-Traded
Managed Funds
USD 0.00 per share USD 0.00 USD 0.00
ETF Securities ETFs USD 0.00 per share USD 0.00 USD 0.00
Global X ETFs USD 0.00 per share USD 0.00 USD 0.00
Updated on
22.10.2018
2
Product Fixed Minimum Per Order Maximum Per
Order
Hull Tactical ETFs USD 0.00 per share USD 0.00 USD 0.00
Infrastructure ETFs USD 0.00 per share USD 0.00 USD 0.00
O'Shares ETFs USD 0.00 per share USD 0.00 USD 0.00
Reality Shares ETFs USD 0.00 per share USD 0.00 USD 0.00
Exceptions (API, VWAP, DARK, IBKRATS, IBDARK, CSFB ALGO, CSFB PATH,
JEFFALGO, FOXRIVER ALGO)
US API Directed Orders 3
Value Fixed Minimum Per Order Maximum Per
Order
All USD 0.015 per
share USD 2.00 2% of trade value 1
Guaranteed VWAP Orders
Fixed Minimum Per Order Maximum Per
Order
USD 0.04 per share USD 2.00 2% of trade value 1
DARK
Remove Liquidity Add Liquidity
Directed orders N/A 4 N/A
Smart-routed orders9 Variable (see note) N/A
3
IBDARK
Remove Liquidity Add Liquidity
Directed orders N/A 4 Normal commission
applies
Smart-routed orders
Normal commission
applies
minus 0.014 per
share
Normal commission
applies
minus 0.014 per
share
IBKRATS
Remove Liquidity Add Liquidity
Directed orders N/A 4 Normal commission
applies
Smart-routed orders10 Variable (see note) Variable (see note)
CSFB ALGO, CSFB PATH, JEFFALGO and FOXRIVER ALGO
Fee
Normal commission applies plus USD 0.002 per share
Transaction Fees 5
Transaction Fees
(Stocks, ETF, Warrants, Rights, Voting Trust
Certificates) USD 0.0000130 * Value of Aggregate
Sales
FINRA Trading Activity Fee USD 0.000119 * Quantity Sold 8
Canada
4
Fixed Minimum Per Order Maximum Per
Order
CAD 0.02 per share CAD 2.00 1% of trade value 1, 2
Mexico
Fixed Minimum Per Order Maximum Per
Order
MXN 0.2% of trade value MXN 120.00 N/A
Notes:
1. Plus the applicable exchange, ECN and/or specialist fees based on execution venue.
2. For orders that are immediately executed against an existing bid or offer on the exchange's order book, an exchange liquidity removing fee will be added. See the Tiered North America section for details of the exchange fees.
3. This charge does not apply to relative, pegged to market and pegged to midpoint orders.
4. Directed orders to IBKRATS/IBDARK that are marketable will generally be rejected.
5. Transaction fees are only charged for sell orders.
6. Includes NMS, OTCBB, NextShares and Pink Sheet Stocks.
7. In the event the calculated maximum per order is less than the minimum per order, the minimum per order will be assessed.
8. Maximum USD 5.95 per trade. In the case of partial executions, each execution is considered one trade.
9. In the event IBKR receives a rebate from a liquidity provider, the full rebate will be passed through in the form of a reduction to the standard U.S. Stock commission. Should IBKR receive no rebate on the execution, standard U.S. Stock commissions will apply.
10. In the event your order crosses another IBKR Client order, the standard U.S. Stock commission minus 0.0007 per share will be charged. In the event IBKR receives a rebate from a liquidity provider, the full rebate will be passed through in the form a reduction to the standard U.S. Stock commission. Should IBKR receive no rebate on the execution, standard U.S. Stock commissions will apply.
Commissions apply to all order types.
All exchange fees are included.
For clients who send an extraordinary number of non-marketable limit orders to the NYSE, and who route such orders direct to NYSE, rather than using IB Smart routing, IB reserves the right to impose a surcharge in order to defray specialist order handling charges. In this event, IB will provide notice to affected clients.
5
VAT, also referred to as consumption tax, goods and services tax, where applicable, will be separately applied for eligible services.
Modified orders will be treated as the cancellation and replacement of an existing order with a new order. On certain exchanges, this may have the effect of subjecting modified orders to commission minimums as if they were new orders. For example, if an order for 200 shares is submitted and 100 shares execute, then you modify the order and another 100 shares execute, a commission minimum would be applied to both 100 share orders. Orders that persist overnight will be considered a new order for the purposes of determining order minimums.
Europe Our Fixed pricing for stocks, ETFs and warrants charges a fixed amount per share or a set percent of trade value, and includes all IB commissions, exchange and regulatory fees.
Austria
Fixed Minimum Per Order
Maximum Per
Order
All 0.15% of trade
value EUR 6.00 EUR 180.00
Baltic Region (Estonia, Latvia, Lithuania)
Fixed Minimum Per Order
Maximum Per
Order
All 0.3% of trade value EUR 15.00 None
Belgium
Fixed Minimum Per Order
Maximum Per
Order
All 0.15% of trade
value EUR 6.00 EUR 43.5
6
France
Fixed Minimum Per Order
Maximum Per
Order
Euro-denominated 0.15% of trade
value EUR 6.00 EUR 43.5
USD-denominated 0.2% of trade value USD 10.00 USD 84.00
Germany
Fixed Minimum Per Order
Maximum Per
Order
SWB 0.24% of trade
value EUR 12.00 None
SWB Warrants 0.24% of trade
value EUR 12.00 EUR 98.00
FWB 2 0.2% of trade value EUR 8.00 EUR 198.00
FWB Warrants 0.2% of trade value EUR 8.00 EUR 98.00
TradeLink Warrants
(currently SocGen
products only)
0.15% of trade
value EUR 6.00 EUR 43.5
Chi-X / BATS /
Turquoise DE /
Tradegate
0.15% of trade
value EUR 6.00 EUR 43.5
Xetra - ETFs 0.15% of trade EUR 6.00 EUR 43.5
7
Fixed Minimum Per Order
Maximum Per
Order
value
Xetra - Stocks 0.15% of trade
value EUR 6.00 EUR 148.5
Hungary
Fixed Minimum Per Order
Maximum Per
Order
Stocks 0.2% of trade value HUF 400 No Maximum
Italy
Fixed Minimum Per Order
Maximum Per
Order
Stocks, ETFs &
Funds 0.15% of trade
value EUR 6.00 EUR 43.5
Warrants &
Structured Products 0.15% of trade
value EUR 9.00 EUR 43.50
Netherlands
8
Fixed Minimum Per Order
Maximum Per
Order
Euro-denominated 0.15% of trade
value EUR 6.00 EUR 43.50
USD-denominated 0.2% of trade value USD 10.00 USD 84.00
Norway
Fixed Minimum Per Order
Maximum Per
Order
All 0.1% of trade value NOK 98.00 None
Poland
Fixed Minimum Per Order
Maximum Per
Order
All 0.2% of trade value PLN 30.00 N/A
Portugal
Fixed Minimum Per Order
Maximum Per
Order
All 0.225% of trade
value EUR 9.00 None
9
Spain
Fixed Minimum Per Order
Maximum Per
Order
All 0.15% of trade
value EUR 6.00 None
Sweden
Fixed Minimum Per Order
Maximum Per
Order
All Other 0.3% of trade value SEK 147.00 None
EUR-denominated 0.15% of trade
value EUR 6.00 None
Switzerland
Fixed Minimum Per Order
Maximum Per
Order
CHF-denominated 3 0.15% of trade
value CHF 15.00 None
EUR-denominated 0.15% of trade
value EUR 15.00 None
USD-denominated
ETF 0.2% of trade value USD 20.00 None
10
Fixed Minimum Per Order
Maximum Per
Order
GBP-denominated 0.2% of trade value GBP 12.00 None
USD-denominated
Other 0.2% of trade value USD 10.00 USD 84.00
United Kingdom 1, 4
Fixed Minimum Per Order
Maximum Per
Order
Up to
GBP 50,000 Trade
Value
GBP 12.00 GBP 12.00 GBP 12.00
>
GBP 50,000 Trade
Value
GBP 12.00 +
0.1%
of incremental trade
value > GBP 50,000
GBP 12.00 GBP 58.00
LSE International
Order Book and
USD-denominated
stocks
USD 0.1% of trade
value USD 10.00 None
EUR-denominated
stocks 0.15% of trade
value EUR 6.00 EUR 43.50
United Kingdom - Commission-Free ETPs
Product Fixed Minimum Per Order Maximum Per
Order
11
Product Fixed Minimum Per Order Maximum Per
Order
Leverage Shares
ETPs
USD 0% of trade
value
GBP 0% of trade
value
USD 0.00
GBP 0.00
USD 0.00
GBP 0.00
Notes:
1. Stamp taxes (UK=0.5%, Ireland=1%) are directly passed through to the client.
2. Plus Trade Fee. Click here for more details.
3. In addition to the standard commissions, IB will pass thru a trade reporting fee of CHF 1.00 per Trade.
4. IB is also required to charge the Panel of Takeovers and Mergers Levy of GBP 1.00 on all orders over GBP 10,000 on shares of companies registered in the United Kingdom, Isle of Man or Channel Islands.
Commissions apply to all order types.
All exchange and regulatory fees are included.
VAT, also referred to as consumption tax, goods and services tax, where applicable, will be separately applied for eligible services.
Modified orders will be treated as the cancellation and replacement of an existing order with a new order. On certain exchanges, this may have the effect of subjecting modified orders to commission minimums as if they were new orders. For example, if an order for 200 shares is submitted and 100 shares execute, then you modify the order and another 100 shares execute, a commission minimum would be applied to both 100 share orders. Orders that persist overnight will be considered a new order for the purposes of determining order minimums.
Effective August 1, 2012, securities issued by French companies with a market capitalization of 1 billion EUR as of January 1, 2012 will be subject to a transaction tax. For additional details regarding the calculation of the tax, please refer here.
Effective March 1, 2013, certain Italian stocks will be subject to a transaction tax. For additional details regarding the calculation of the tax, please refer here. Effective September 1, 2013, derivatives on those Italian securities subject to the transaction tax will similarly become subject to a transaction tax. For additional details regarding the derivative transaction tax, please refer here.
For European stock Algo orders, IB will apply the commission cap as follows: For EUR-denominated stocks every EUR 75,000 of executed value a new per order cap will be applied For CHF-denominated stocks every CHF 100,000 of executed value a new per order cap will be applied
12
Asia-Pacific Our Fixed pricing for stocks, ETFs and warrants charges a fixed amount per share or a set percent of trade value, and includes all IB commissions, exchange and regulatory fees.
Australia
Tier Fixed Minimum Per Order Maximum Per
Order
All 0.16% of trade
value AUD 12.00 N/A
Hong Kong 1,2
Tier Fixed Minimum Per Order Maximum Per
Order
SEHK Stocks 0.16% of trade
value HKD 36 N/A
SEHK Warrants,
Structured Products 0.16% of trade
value HKD 20 N/A
Shanghai-Hong
Kong Connect and
Shenzhen-Hong
Kong Connect
Stocks
0.16% of trade
value CNH 30 N/A
13
Japan
Tier Fixed Minimum Per Order Maximum Per
Order
All 0.16% of trade
value JPY 160 N/A
Singapore
Tier Fixed Minimum Per Order Maximum Per
Order
All 0.16% of trade
value
SGD 5.0
USD 4.00
HKD 36.00
N/A
Notes:
1. For stocks, warrants and structured products traded on the SEHK, government stamp duty (0.1% rounded up to the nearest 1.00 for SEHK stocks, normally applies only to stocks) and SFC transaction levy (0.0027%, normally applies to stocks and warrants) will be passed through to all clients regardless of commission model. Click here for SEHK shares.
2. For stocks traded on Shanghai-Hong Kong Connect and Shenzhen-Hong Kong Connect, all external costs will be passed through to clients regardless of commission model. This includes exchange trading fees, clearing fees and government stamp duty. Click here for the fee schedule for Shanghai-Hong Kong Connect and Shenzhen-Hong Kong Connect shares.
3. Stocks on the NSE are only available to Indian residents.
4. Up to per order value of INR 1,000,000. Portion of order above INR 1,000,000 will be charged 2 bps.
5. The maximum per order for NRIs will be INR 150.
All exchange and regulatory fees are included, except where noted above.
Commissions apply to all order types.
VAT, also referred to as consumption tax, goods and services tax, where applicable, will be separately applied for eligible services.
14
Modified orders will be treated as the cancellation and replacement of an existing order with a new order. On certain exchanges, this may have the effect of subjecting modified orders to commission minimums as if they were new orders. For example, if an order for 200 shares is submitted and 100 shares execute, then you modify the order and another 100 shares execute, a commission minimum would be applied to both 100 share orders. Orders that persist overnight will be considered a new order for the purposes of determining order minimums.
