Do we know 100% that IB do not charge T212 at all for FX?
As in T212 have thought we can creme off some profits from our customers by inventing a new charge and call it FX fee and 0.15% is enough that most will suck it up without leaving the platform. No one will question that.
0.15% commission fee on buying and selling foreign currency
0.15% FX fee on buying and selling foreign currency
To me as a customer it’s the same result.
If they are making this up and listing as “FX fee” and it’s not actually costing them a penny for FX then that’s incredibly cheeky.
It’s even more cheeky if they continue to advertise as “commission free” after the 0.15% FX fee comes into play because the commission is under a different label.
If they are being charged ~0.15% by IB and are simply passing this cost on then I have some empathy with the decision.