Anonymous

07 Aug 2020

∙

General Investing

What are the fees associated with IBKR cash account?

Assuming i invest a lump-sum of $5k into VOO quarterly and then leave it, no buy/sell trades for 3months, then invest another $5k again 3mths later. And repeat. During the 3months no trade, is monthly activity fee charged? Or will it be more worth it if i just invest $1k into it once each month? This would be more like a dca?..

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Zachary Teo

07 Aug 2020

Art Director at Ad Agency

Hey Anon! Yes there will be deduction to the monthly activity fee. According to their website, it is based on the commission earned per month. Hence, in your situation, there wlll be a deduction to it.

"Accounts with balances of $100,000 or less must meet a minimum of $10 a month in trade commissions, or Interactive Brokers will charge the difference as a monthly fee."

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I have some USD cash at hand and would like to transfer this into my IBKR account and avoid any currency conversion or fees in the process. Is this possible? If not, what's the next best option?

Does ibkr have an account minimum balance? i've a ibkr pro cash account and mainly deposit funds, then buy the stocks i want that night and usually my account cash fund balance is near zero afterwards. Any advice?

Just applied for a DBS Vickers account to buy some blue chips, seems like they offer zero brokerage fees for first 5 trades for new users. Does it apply for cash upfront account too, or just cash account?

Is there any no fall-below fee multi currency account? For DBS multiplier fall below amount is 3K and too high. Secondly, once I have a multipler account can I deposit USD cash without any fees?

If i would like to invest in s&p500, do you advise to buy relevant ETF via ibkr, or use cash to buy from endowus? (wondering if IBKR incurs any recurring fees for holding the ETF VS fees from endowus)