Reposting the previous long running deal.
Historically the fee was $10usd/month but it phased out last year.
$0/Month Account Keeping Fee for All Accounts @ Interactive Brokers
250
watwatwat on 13/03/2022 - 11:15 interactivebrokers.com.au (606 clicks)
Last edited 13/03/2022 - 12:50 by 1 other user
Last edited 13/03/2022 - 12:50 by 1 other user
Referral Links
Referral: random (214)
Referrer gets $200. Referee gets $1 worth of IKBR share (capped at $1,000) for every $100 deposited.
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Comments
It is the same long running deal as previously posted by the same OP. Very likely referrals from the previous post has dried up for OP and this is a tactic to renew interest to earn more. The first version of the description had nothing about the $0 fee but only asked you to use referral.
referrals from the previous post has dried up for OP and this is a tactic to renew interest
Or you could say I am keen to give more value to ozbargain community?
It's a valid deal within the rules and as a moderator, you can keep your disrespectful thoughts (towards contributing community members) to yourself.
This is my personal opinion not made in my capacity as a moderator. If this is an official moderation message, my comment would be labelled as such and you would be unable to downvote it.
The comment section exists for users to express our opinions, and I do not see why I should keep mine to myself.
express our opinions, and I do not see why I should keep mine to myself.
Flagged as off-topic.
Damn just signed up this week without referral
Are you still using this?
All the time. I do get Share compensation though
I haven’t used many share brokers
How easy/reliable/comfortable is this comparing to other like Commsec?
Do i need to have an different bank account to exchange and transfer money in/out for examples CMC using ANZ?
In IBKR when I click to deposit, there is an BSB number as 342011 (which shows as HSBC when I google it). I transfer to there and very quickly the funds show up in my account as AUD. It is then $2usd to convert to USD for values up to $25k.
Then it is $1 USD per trade, iirc that is for unlimited trade size.
Whereas commsec is $19.95 per trade for $20k AUD and the fees go up from there.
I would not use IBKR for AU shares.
With IBKR, for AU shares, if you use a limit order and it's filled over a number of days, the minimum broker fee is $6.60 for each day. So IBKR's AU fees are not directly comparable to Stake or Selfwealth charging AUD 3 or 9.50 for unlimited-size AU trades or Commsec for that matter.Source: personal experience and IBKR
https://www.interactivebrokers.com/en/index.php?f=1590&p=sto…
Orders that persist overnight will be considered a new order for the purposes of determining order minimums.
Don't use IB if you just want to buy Australia shares, they are not CHESS sponsored.
If you want something more complex then IB is great. But don't look at it for just regular shares.
Yes, it's better for US shares.
In my experience, international shares are a PITB when it comes to tax time. When did you move $A to US$, when did you buy/sell the shares. Apportioning capital gains to forex and shares,…
eg transfer AUD1200 to your IB and convert to USD1000
a week later place an order for 100 shares at USD 9 each. Exchange rate is $1.21 on the day you place the order. 50 get processed overnight, when the exchange rate was $1.25, and then other 50 get processed the next day when the exchange rate is $1.27
Some time later sell 40 at USD9.50 each, when the exchange rate is $1.30, but it gets processed when the exchange rate is back at $1.28 and bring the funds back to AU with an exchange rate of $1.35. How much capital gains and trading income do I need to declare?I once had a reasonable offshore portfolio, until I sold it because the hours I was spending doing my tax each year made it not worth the additional gains compared with an Aussie listed ETF.
Is there an easier way?
Also up to $50,000 in margin loans..
Where'd you get 50 from? 25k unless they've changed their policy very recently
It's been increased to 50k
I'll be damned, thanks.
Not available for retail plebs.
It is.
Not sure of the technical term for it but are the shares in your name or is it like custodial model where the broker keeps the shares in their name……?
Yes, ASX shares are not CHESS sponsored
Doesn't matter for overseas shares as everything is held in custody (no concept of CHESS)
Cheers thanks.
This trading platform is not as simple as stake or selfwealth… Probably more suitable for expert or seasoned professional in my opinion…
Yes, it's UI is convoluted.
Know Robbin Hood is not here yet, and it's name has been sullied since the GameStop fiasco, but has anyone looked at any free trading platforms yet like eTorro or Revolut? I have used IB and Saxotrader etc., so I am aware of their offerings but I was wondering if anyone has any experiences, positive or negative, regarding these. Is your money safe, are there any catches?
Thanks - I have been extra suspicious given that they are based out of Israel for a start. I can't believe that the English Premier League, YouTube and others continue to accept their advertising dollar and you would think that due diligence and complaints would void this going forward. How do they continue to hold a financial services licence in Australia and elsewhere if so many people who have tried them are suggesting that they are a "scam"? Yeah, I think I've known for a long time that IB is the best but I just thought it would be worth enquiring to see what else is out there.
Try out Schwab. I think they're the best in the world, really.
@watwatwat: What benefits does Schwab have over IBKR? I'm using IBKR for US stocks and find it clunky but cheap, it does the job .
IBKR is #1 just because withdrawing is a massive pain. Perfect for emotional investors.
This or Stake?
I think Stake is good for ASX and bad for US due to forex.
Can you buy shares in the HKSE through IB with ease? Do you need to fill in a lot of forms to set up (similar to buying shares in the US?)
Haven't charged account keeping fees for a while: https://www.ozbargain.com.au/node/636888