IBKR erased their monthly fees? and considerations

HI, can i get someone to double check? Did my eyes deceive me? Did IBKR really just erased the 10usd/month fee? I can’t seem to find the page with minimum commision per month anymore.

Maybe i should buy non-us & non-uk stocks from there instead rather than adr or from otc then? And probably stocks below 100usd until T212 fix the limit order problem? Also, any reason why i should reconsider buying non-us/non-uk from ibkr?

Yes, they removed the monthly fee and the required minimum commission rate.
US Stocks and select US ETFs can also be bought as fractional shares, I recently paid 3 cents commission for a stock. Their Web portal is decent if you’re looking for an experience similar to Trading212, plus there is also a plathora of global stocks from almost every market to choose from.

However, IBKR can be glitchy and their support and customer service is non existent. They are one of the most painful brokers to deal with (in my experience).
Then there is the commission fees on stocks from other markets, they not high but you can expect to pay $2 to $5 dollars per trade, there are also minimum quantities on some stocks so you can’t just buy 1 share,you have to buy maybe 100. If you have a large account then IBKR might be a decent option.

One of the best advantages of Trading212 is the customer care, live chat functionality that gives quick responses plus this community forum, these things gives Trading212 in my humble opinion a better customer experience , I believe in 2 years Trading212 would have improved and will offer more markets as well which would make them one of the best. So don’t give up on Trading212 just yet.

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Ah forgot about the minimum amount of shares when buying from other market, sucks…
I guess i also have the problem of how to deposit to ibkr without large fees…

I also have no doubts T212 will improve in the coming years, and i’m excited about it. Especially if they offer fractional in markets IBKR doesn’t. I’ll still use T212 even if i open an account in IBKR, i was just thinking if i might be better off using ibkr to do certain things and T212 for the rest, so i’m wondering on what cases/situations does using ibkr more beneficial?

IBKR has more markets, but minimal shares crushes it for me. i’m interested in Japan and Hong Kong’s exchanges, the fees are negigible, but the 100 minimum for Japan stocks… can’t afford that. i read a news that they’re planning for 1 share minimum though, we’ll see about that.
Then, with IBKR i can buy US ETFs that aren’t available here…

You can deposit with Revolut with no hassle.
The commision for the main markets are:

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For any UK investors, I don’t think IBKR offers ISA accounts. However from a quick search they do seem to offer SIPPs.

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The IBKR app is miles behind T212 in usability and transparency.
Order previews don’t show estimates of fees or commissions and they make you jump through hoops to find this info afterwards. There also seems to be zero notifications of trades going through. The best I’ve been able to manage is an email when a price alert is triggered…

I’m still getting used to the interface but it’s a necessary evil for the instruments not available on 212.

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@Rygel Unfortunately, my country isn’t on Revolut’s list of supported countries. I can probably get away with Wise. Thanks for the commision estimate!

@random53 Thought so too, i’m having a difficulty looking for the fees deducted from trades on the paper trading account.

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I tried opening n IBKR account too. Is it me or does the app and web seem super laggy? The app has even a count down timer to login…

I tried talking to someone using the live chat for a question about the proof of address document, waited 10 min and closed it… 🤷🏻

It’s awful to use. Trying IBKR makes people appreciate 212 more, they should encourage it.

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I’m not so sure, 212 once stopped me buying game stop.

I know everyone else suspended trading to, but it was still a joke

(This is a joke, don’t get your knickers in a twist )

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Quite a few exchanges operate in lots of shares, most notably HKEX. The number is dictated by the exchanged and issuer. For example 9626 (Bilibili) you can only buy multiples of 20 shares or 0270 (Guangdong investment) multiples of 2000 shares.

This is debatable and subject to personal preference, for myself T212 has one of the worst interfaces across all brokers I use. It is designed so people can “tap on their mobiles” not purpose built.

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Did you profit from it or not :upside_down_face:

Broker market in EU and wider Europe is very fragmented, so I guess healthy competition is not ideal. UK and Germany probably has the most options from what I’ve seen, the rest has T212 (gratefully) and the dinosaurs…

One that stood out and is available in the EU is Scalable Capital, but no English support which is a deal breaker. Nice UI though.

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It GoT DeM DiAmONd HaNDs

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I don’t know if IBKR charges clients based on which region they are from but those are not the prices I have been paying. I sometimes get charged $0.20 or $1.00 for US Stocks, I always pay 3 pounds for British stocks, 3 Euros for EU stocks and 18hkd for Asian stocks, it’s only becomes really cheap when I buy US assets

This forum alone makes T212 one of the best, the fact that we can discuss issues with other customers and chat to the company here is great. I will only ever worry about my money the day open discourse is shut down. Its very Risky for T212 to let customers openly be able to complain and critique the company yet they do.

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You can set 2 types of commisions on IBKR: Tiered and Fixed. And you can change them anytime as it suit you.

Definitely not you, my tws took a solid 5 minutes to just login and connect to the server the first time i installed it. It tried all the server and fails several times.

Hey Rygel, thanks for the heads up. I had seen the two commission options when I signed up but whenever I go to account manager I get logged out :sweat_smile: , and the two factor authentication is such a hassle to use on IBKR

How do you deal with the fx fees in trading 212 since the accounts here are in EUR or local currencies ? Therefore you have to pay fx fees for every order to buy US Stocks.
For example, when you buy 100 shares of a stock valued at 70 euros, you will pay around 10 euros (0.15% * 7000 EUR). For someone doing day trading making one buy order (10 euros fees) and one sell order (10 euros fees) for a profit of 100 euros, Trading 212 will eat 20% of your profit which is big.
While on other brokers with USD accounts, you pay 0,005 $ per share, in that case you pay 70 * 0,005 $ = 0.35 $ compared to 10 EUR in Trading 212.