Hosted Solutions Fee Schedule

As a vendor of market data (e.g., current bid/ask prices, opening & closing ranges, high-low and last sales), IB is subject to various exchange agreements which specify and control the manner in which such data may be disseminated. In addition, certain of these exchanges impose a monthly fee where real-time or delayed data is distributed through what is commonly referred to as a Hosted Solution. Here, the term Hosted Solution is generally used to describe an arrangement whereby the clients of an organization, such as a non-disclosed introducing broker, obtain market data through IB’s vendor agreement rather than through a vendor agreement between the organization and the exchange. 

In situations where a Hosted Solution exists, IB will allow the introducing broker or organization the ability to opt out of the fee to restrict their clients from subscribing to the underlying subscriptions or enable the fee to allow their customers to subscribe to the related underlying subscriptions. Outlined below is a list of these fees in effect as of December 2016. We recommend that you refer to the website of each of the individual exchanges for updates.

 

Real-Time Subscription
Monthly Fee
BATS EU Hosted Solutions
GBP 950
NASDAQ OMX MFDS (US Mutual Funds)
USD 150
NASDAQ OMX GIDS (NASDAQ Global Index Data Service)
USD 800
Nordic Equity Level 1 & Level 2 Non-Professional
EUR 800
Nordic Equity Level 1 & Level 2 Professional
EUR 2,140

 

Questions regarding these fees may be directed to the IB Professional Services Team at 866-694-2757 (toll free within the U.S. and Canada) or 203-618-7791 (direct).

Market Data Considerations for the Paper Trading Account

As a licensed distributor of exchange market data, IB is obligated to respect constraints imposed by the exchanges which serve to govern the dissemination and/or retransmission of this data.

As a general rule, within a given account, the real user can activate and maintain its own set of market data subscriptions. The paper user, by design, does not have a set of market data subscription on its own but can be configured in one of the following ways:

  • The paper user can be set to share2 the live market data subscriptions of the real user:

In this scenario, if the real and paper trading sessions are running simultaneously, they must reside on the same device in order for the paper to receive live market data. If this is not the case, the real trading session will be still afforded the real-time market data but the paper trading session will not receive any data3 . Please see the section CASE 1 below for details.

  • The paper user can be set NOT to share2 the live market data subscriptions of the real user:

In this scenario, the real and paper trading sessions are independent, in respect of market data flows. Hence, they can run simultaneously on the same or on different devices and the paper user will receive delayed data, as available. Please see the section CASE 1 below for details.

  • In case the account possess multiple real users, the paper user can be set to share2 the live market data subscriptions of a chosen one.

Clients who wish to run real and paper sessions simultaneously and on different devices (e.g., stand-alone PC, smart phone, tablet), may create an additional real user for their account, as explained here: Adding a second user for an individual account holder. While this approach will result in additional fees for any paid market data subscriptions elected, it will allow maintaining different subscription sets. In this scenario, the client will be able to select2 which real user will share his subscriptions with the paper user, allowing the other real user and the paper trading sessions to run simultaneously on different devices. Please see the section CASE 2 below for details. 

 

Example Cases:

 
CASE 1
Account users:  1 real user + 1 paper user
REAL_USER is subscribed to live market data
Location of real_user session Location of paper_user session Sharing of live market data between real_user and paper_user is active? Type of market data received by real_user Type of market data received by paper_user
DEVICE1 DEVICE2 YES LIVE NO DATA3
DEVICE1 DEVICE1 YES LIVE LIVE
DEVICE1 DEVICE2 NO LIVE DELAYED
DEVICE1 DEVICE1 NO LIVE DELAYED
USER NOT LOGGED IN DEVICE1 YES N/A LIVE
USER NOT LOGGED IN DEVICE1 NO N/A DELAYED
CASE 2
Account users:  (after the creation of a secondary real user) : 2 real users + 1 paper user
REAL_USER1 is subscribed to live market data
REAL_USER2 is subscribed to live market data
Location of real_user1 session Location of real_user2 session Location of paper_user session paper_user is mirroring the subscriptions of Type of market data received by real_user1 Type of market data received by real_user2 Type of market data received by paper_user
USER NOT LOGGED IN DEVICE1 DEVICE2 real_user1 N/A LIVE LIVE
USER NOT LOGGED IN DEVICE1 DEVICE1 real_user1 N/A LIVE LIVE
DEVICE1 USER NOT LOGGED IN DEVICE2 real_user1 LIVE N/A NO DATA3
DEVICE1 USER NOT LOGGED IN DEVICE1 real_user1 LIVE N/A LIVE
USER NOT LOGGED IN DEVICE1 DEVICE2 real_user2 N/A LIVE NO DATA3
USER NOT LOGGED IN DEVICE1 DEVICE1 real_user2 N/A LIVE LIVE
DEVICE1 USER NOT LOGGED IN DEVICE2 real_user2 LIVE N/A LIVE
DEVICE1 USER NOT LOGGED IN DEVICE1 real_user2 LIVE N/A LIVE
DEVICE1 DEVICE1 DEVICE2 real_user1 LIVE LIVE NO DATA3
DEVICE1 DEVICE1 DEVICE1 real_user1 LIVE LIVE LIVE
DEVICE1 DEVICE2 DEVICE2 real_user2 LIVE LIVE LIVE
DEVICE1 DEVICE1 DEVICE2 real_user1 LIVE LIVE NO DATA3
DEVICE1 DEVICE1 DEVICE2 Set NOT to mirror LIVE LIVE DELAYED
DEVICE1 DEVICE1 DEVICE1 Set NOT to mirror LIVE LIVE DELAYED
DEVICE1 DEVICE2 DEVICE1 Set NOT to mirror LIVE LIVE DELAYED
DEVICE1 DEVICE2 DEVICE2 Set NOT to mirror LIVE LIVE DELAYED

 

Notes

1. Trading Session:
For trading session, we consider a user session successfully established and actively running on any of the following platforms:
  • Trader Workstation (TWS)
  • IBKR Mobile
  • Web Trader
  • Client Portal
2. Market data mirroring and sharing user selection
On the Client Portal, those functions are present in the section: Settings -> Account Settings -> Configure (gear) icon
On the Classic Account Management, those functions are present in the section: Manage Account -> Settings -> Paper Trading
 

3. No Data: On the paper session, the trading platform will display a warning message containing: “...production username associated with this paper-trading username is also running on...”

 

Change Your Billable Account

If you have additional linked, duplicate or consolidated accounts, the Billable Account section appears on the Market Data Subscriptions screen. Use the Billable Accounts panel to change the account that is currently being billed for market data.

To change your billable account

1. Click Settings > User Settings
2. In the Trading Platform panel, click the Configure (gear) icon for Market Data Subscriptions.

The Market Data Subscription screen opens.

3. Click the Configure (gear) icon in the Billable Account panel.
4. Select the account you want to be billed for market data, then click Save.

Beginning with the next billing cycle, your market data subscriptions will be billed to the account you selected.

 

 

Market Data Price Changes Effective January 1, 2011

Overview: 

Effective January 1, 2011, the monthly fees for the below noted market data subscriptions will be increased in accordance with exchange billing practices.

Background: 

This serves as a reminder to the market data price change notification sent December 17, 2010, as well as to inform clients who may have subscribed to the affected feeds since then.

If you no longer wish to subscribe to any of the below noted data feeds at the new monthly tariffs, you must unsubscribe through Account Management / Trading Access / Market Data Subscriptions, prior to January 1, 2011 to avoid being billed at the higher rate.

Should you have any questions regarding these changes, please create an inquiry ticket via the Message System within Account Management, referencing the subscription name and ID number therein.

SUBSCRIPTION ID CURRENT FEE NEW FEE
Eurex - DJ STOXX Indices 229 5 EUR 8 EUR
German Indices & Xetra ETF's 418 4 EUR 6 EUR
Venture Market by Price Level II 448 14 CAD 16 CAD
Toronto Market by Price Level II 449 27 CAD 30 CAD
Euronext.Liffe Commodities Derivatives Level I 155 / 255 15 EUR 20 EUR
Euronext.Liffe Commodities Derivatives Level II 156 / 256 20 EUR 25 EUR
Euronext.Liffe Equity Derivatives and Indices Level I 265 30 EUR 35 EUR
Euronext.Liffe Equity Derivatives and Indices Level II 266 36 EUR 45 EUR
Euronext.Liffe Interest Rate Derivatives Level I 153 / 253 32 EUR 38 EUR
Euronext.Liffe Interest Rate Derivatives Level II 154 / 254 40 EUR 45 EUR

Account Linkage FAQs

 

Q: Which accounts are eligible for linkage?

A: Eligible accounts include Independent individual and IRA accounts which have matching country and state of legal residence and account title.

 

Q: What are the benefits of linkage?

A: The principal benefits of linkage are ease of access and potential savings in market data subscription fees. Following linkage, all accounts will be accessed via a single User Name, password and SLS device. After login to the trading platform or Account Management you will be provided with a drop-down window for selecting the account you wish to trade or perform administrative tasks thereby eliminating the need to memorize multiple login information or maintain additional security devices. 

In addition, as market data subscriptions are billed at a session level (i.e., User Name) and only a single TWS session can be viewed for any one user at a given time, account holders previously maintaining duplicate market data subscriptions for multiple accounts have the opportunity to consolidate those following linkage.

 

Q: If I link two accounts enrolled in SLS, are there any restrictions with respect to the security device which will remain following linkage?

A: Yes. In the case of a linkage request where the two accounts are SLS enrolled but maintain different devices, IB requires that the account holder retain the device having the highest protection rating as noted at the time of your request.

 

Q: What do I do with security devices which no longer are operable following linkage?

A: In the case of Security Code Cards, you may discard of the device once the linkage has been processed. For all other devices, you will need to return the device to IB to ensure that your account is not assessed a lost device fee.  Click here for additional information regarding returning your device.

 

Q: Can I maintain multiple groups of linked accounts?

A: No. Once an account linkage has been requested and processed, all subsequent requests must be linked to that original grouping

 

Q: Can I unlink accounts which have already been linked?

A: No. Once a link has been established it is permanent and cannot be undone.

 

Q: Does linkage impact the calculation of Minimum Monthly Activity Fees?

A: Yes. IB will calculate the consolidated monthly commission generated across all linked accounts. If the consolidated commission exceeds the number of accounts multiplied by USD 10, the minimum activity fee will be waived. If the consolidated commissions are less than the required minimum, an activity fee is charged on an account-by-account basis.  Please review the website for information regarding Minimum Monthly Activity Fees.

 

Q: Why has the linkage request which I submitted not been processed?

A: Linkage requests are automatically processed as of the close of business on the day submitted when accounts are SLS enrolled and the individual information on record identical (e.g. mailing address, telephone numbers, email address, etc.). If any of these conditions are not met, the linkage request will not be processed until SLS enrollment is complete and/or Compliance review of the information changes and any supporting documentation necessary to evidence the change has been received.

 

Q: Once linked, from which account will market data subscription fees be deducted?

A: Account holders are allowed to designate a billing account from which all market data fees may be deducted.  We recommend that you select the account which generates the greatest level of commission activity if your subscription provides for fee waiver should your monthly commissions reach a minimum threshold (e.g., U.S. Securities & Commodities Market Data Bundle). IB will only look to the activity conducted in the billing account to determine waiver eligibility rather than aggregating the commission activity across all linked accounts.  In selecting the billing account, consideration should also be given to selecting an account having the greatest level of equity as well as cash.  This will minimize situations where the account has insufficient cash and the billing serves to increase the margin debit balance or where the account does not have margin permissions or maintains insufficient equity with loan value which, in both cases, will result in the liquidation of positions to cover the fees. IB will not act to automatically transfer cash across linked accounts to meet subscription obligations.

 

Q: If I link two accounts, will I have any restrictions on short sales?

A: Accounts owned by the same beneficial owner are considered in a consolidated manner when determining the ability to sell a stock short. If account A is long 100 shares and account B is short 100 shares, a new order to sell shares in either account A or account B will be considered a short sale, as overall the accounts hold a 0 position. The new sell order would be subject to any applicable locate requirements.

Why is there no "Last" price for Forex pairs?

Overview: 

The Last column does not show the most recent trade for currency pairs but either the midpoint of the most recent bid/ask price or if not available then the previous day closing price. This is not a market data error but rather the nature of the Forex market.

Background: 

The global Forex market is what is referred to as an "OTC" (Over the Counter) market.  Unlike the options, futures or listed equity markets, there is no central reporting facility for OTC markets, including Forex.  Hence there is no official "tape".  The Last Traded Price for Forex depends entirely upon where you look.  Bloomberg, Reuters, Yahoo, Google, IB, etc will all have different combinations of pools of liquidity from which they are gleaning this information.  Since there is no official "Last Price" for Forex, IB cannot report one on our TWS.  The previous day's closing price is the last traded price from the liquidity providers IB does business with.  It may not match the last traded price for the previous day from other agencies who might have access to additional--or less--liquidity providers than does IB.  

Contract Search Tool

How to submit a contract search query

IB Market Data Assistant

How to use the IB Market Data Assistant

Overview of Fees

Clients and as well as prospective clients are encouraged to review our website where fees are outlined in detail. An overview of the most common fees is provided below:

 

1. Commissions - vary by product type and listing exchange and whether you elect a bundled (all in) or unbundled plan. In the case of US stocks, for example, we charge $0.005 per share with a minimum per trade of $1.00.


2. Interest - interest is charged on margin debit balances and IB uses internationally recognized benchmarks on overnight deposits as a basis for determining interest rates. We then apply a spread around the benchmark interest rate (“BM”) in tiers, such that larger cash balances receive increasingly better rates, to determine an effective rate.  For example, in the case of USD denominated loans, the benchmark rate is the Fed Funds effective rate and a spread of 1.5% is added to the benchmark for balances up to $100,000.  In addition, individuals who short stock should be aware of special fees expressed in terms of daily interest where the stock borrowed to cover the short stock sale is considered 'hard-to-borrow'. 

 3. Exchange Fees - again vary by product type and exchange. For example, in the case of US securities options, certain exchanges charge a fee for removing liquidity (market order or marketable limit order) and provide payments for orders which add liquidity (limit order). In addition, many exchanges charge fees for orders which are canceled or modified.



4. Market Data - you are not required to subscribe to market data through IB but if you do you may incur a monthly fee which is dependent upon the vendor exchange and their subscription offering. We provide a Market Data Assistant tool which assists in selecting the appropriate market data subscription service available based upon the product you wish to trade. To access, log into Account Management click on the Support section and then the Market Data Assistant link.



5. Minimum Monthly Activity Fee - as we cater to active traders we require accounts to generate a minimum in commissions each month or be charged the difference as an activity fee. The minimum is $10 per month for accounts maintaining a balance above $2,000 and $20 per month for accounts whose equity has fallen below $2,000.



6. Miscellaneous - IB allows for one free withdrawal per month and charges a fee for each subsequent withdrawal. In addition, there are certain pass-through fees for trade bust requests, options and futures exercise & assignments and ADR custodian fees.



For additional information, we recommend visiting our website at ww.interactivebrokers.com and selecting any of the options from the Pricing menu option.

 

How do I determine which market data subscription is applicable for a given security?

IBKR provides account holders with a Market Data Assistant tool which assists in selecting the subscription services available for a given security (stock, option or warrant) they wish to trade.  The search results show all exchanges upon which the product trades, the subscription offering and its monthly fee for both Professional and Non-Professional clients as well as the depth of market variations associated with each subscription.

To access the Market Data Assistant, login to Client Portal and select Support from the navigation menu. Click the option for the Market Data Assistant. From there you may search by entering either the symbol or ISIN for the product in quesiton. Results may be further filtered by specifying the exchange, Professional or Non-Professional designation and/or the security's currency of denomination.

Glossary terms: 
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