Tanelorn wrote: ↑Sat May 07, 2022 9:17 pmI would definitely not recommend this. All it takes is one brokerage snafu, on the side of your other broker, in sending the tax basis information to IB, and you’ll have a tax mess on your hands that will waste way more time than whatever pennies you might have saved in commissions. If you really think free commissions are better for you, you can use IB Lite instead of IB Pro.richard.h.gao wrote: ↑Fri May 06, 2022 3:45 am I ACH margin cash out from IBKR to another broker that offers commission free trades, then ACAT transfer those shares back into IBKR. Rinse and repeat. The best of both worlds.
https://www.interactivebrokers.com/en/index.php?f=45500
Sounds like you placed a market (or marketable limit) order. Note that with Tiered Pricing, you also pay exchange fees or receive exchange rebates based on how your order is filled. Roughly speaking, those vary from paying $0.0030/share for market orders to receiving $0.0020/share for posting limit orders that didn’t immediately fill when placed. 35 mils for Tiered + 30 mils for exchange fees on a market order plus another 2 mils for misc regularly fees like SEC/FINRA stuff gets you to right around the 67 mils / $0.0067 cost you saw.muffins14 wrote: ↑Wed Jan 26, 2022 12:52 pm It also feels like I have a lot of commissions in general... I'm using tiered pricing.
For example I submitted an order for like 800 shares of ITOT, and the total commission divided by the number of shares comes to 0.0067 per share, when I thought tiered pricing was 0.0035 per share.
Am I missing some way to actually reduce the commissions?
You should check out the third party fee section here
https://www.interactivebrokers.com/en/i ... commission
And for example in more detail here to understand what’s going on.
https://www.interactivebrokers.com/en/i ... =936&nhf=T
Thanks, I’ve since moved to fixed pricing and just use limit orders. Still, it’s $0.005 per share, so trading like 3000 shares of ITOT is $15, which feels like a lot, but I will earn it back with the tax savings from TLH… very far in the future