Bought VWCE for 900 EUR, commission 8 EUR, how?

[diondrejames]

Is this normal? I am on IBKR lite and just bought 9 shares of VWCE. I used LIMIT as order type. They are bought on IBIS.

Is it possible to check this further in reports?

EDIT: Thank you all. It looks like I cannot switch to PRO or change pricing because my account is under custody (required by regulations in Bosnia and Herzegovina). I just dont have access to those settings.

 

[boxer_dog]

@diondrejames Change the pricing to tiered, it then will cost 1.25EUR next time.

 

[resjudicata]

@boxer_dog could explain the difference for both of them?

 

[diondrejames]

@boxer_dog How? If i am not mistaken IBKR lite does not offer tiered pricing.

 

[boxer_dog]

@diondrejames You will need to switch to PRO then. Why would you use lite if it is 5 times more expensive?

 

[diondrejames]

@boxer_dog It looks like I cannot switch to PRO or change pricing. I cannot access those settings. My account is under custody (required by regulations in Bosnia and Herzegovina).

I'll check with my custodian is it possible to change it by root account.

 

[boxer_dog]

@diondrejames Then just open a new account in IBKR PRO, and transfer your shares from the lite, and then close it. It’s possible to do that.

 

[ron3865]

@diondrejames Lite is only for US residents in which case you should buy VT and are in the wrong subreddit.

European residents can only get IBKR pro which has fixed (3 EUR for your trade) and tiered (1.25+ EUR for your trade) structure. No idea how you got to 8 EUR commission if you bought through IBIS2.

You can double check the paid commission in your trades statement.

 

[diondrejames]

@ron3865 I am from Europe but not in SEPA (Bosnia and Herzegovina). My account is under custody because of country regulations. I'll try to switch to PRO. Thank you.

 

[mofugi]

@ron3865 When you say 1.25 EUR per trade, do you mean both buying and selling or just one way, either buying or selling?

 

[ron3865]

@mofugi Per transaction, so one way.

 

[buzzy204]

@diondrejames 6k of vwce cost me 3 eur. Im on fixed tier.

 

[diondrejames]

@buzzy204 Previous trades were ~1.25 EUR . Not sure what happend.

 

[buzzy204]

@diondrejames 1.25 is minimum what they charge. Or 0.05% whatever is more. It is explained on their website.

 

[parsonbrown]

@buzzy204 This guy ETF’s

 

[assieme]

@diondrejames In IBKR you should be able to see the commissions before placing an order. In pro, the preview button (next to the slide to buy/sell in mobile app) shows the estimated commission of your trade. Always check commissions before placing order.

 

[kaytiedid]

@diondrejames And then people are angry with the 2€ in degiro

 

[inkarpathos]

@diondrejames Buy on Trade Republic using scheduled purchase -> Transfer shares to IBKR.

 

[texantenor]

@inkarpathos What is the transfer cost?

 

[inkarpathos]

@texantenor Zero.

International manual FOP Transfers are free of charge. Only costs money if you transfer between two domestic brokers using ACATS.

Brokers hate this trick as it costs them a lot of time and bureaucracy.