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Anonymous
What would be the best course of action? I've heard that interactive brokers is a fantastic online brokerage, but I'm still not sure if I should switch.
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Zachary Teo
27 Mar 2020
Art Director at Ad Agency
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I also have some funds lying around in my saxo account - i use that as the cash reserve to invest into stocks when any opportunity arise so I dont have to do any future transfers as they incur forex costs. :)
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Only shift to IB when you are ready to trade regularly (monthly or quarterly) in the long run. Other...
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Like what other people have mentioned, only change to IB if you have been trading or want to trade reguarly.
They charged a monthly USD10 for account fees. However this can be waived if
Your total assets reached USD100,00 (equity + cash)
Monthly commission reach USD10
The USD10 commission is super easy to reach if you trade regularly. Hope this helps!