Interactive Brokers gets rid of monthly fees & minimal account values

[jacob_]

@inkarpathos This is only if you are a company that wants to use Interactive Brokers to offer brokerage services to a third party.

You need to look on the top under "Individual, Joint, Trust and Org Accounts".

It's stupid and misleading, but what you find under "Broker" does not apply to individual accounts, but is really for businesses / financial service companies...

 

[inkarpathos]

@jacob_ Ah thanks. Got a bit confused as I thought the whole page was about individuals...

 

[cynicious]

@jacob_ What’s the cheapest way to fund the account from EU?

 

[jacob_]

@cynicious You can deposit EUR for free using a SEPA transfer. As long as your bank allows free SEPA transfers (all banks from Germany, most banks in the euro zone that I know).

 

[jacob_]

@cynicious You can deposit EUR for free. You can then trade with EUR or exchange to USD for a fee of 2 USD (without exchange rate markup).

You should read if this a broker suitable for you. I didn't mean to advertise it in general, but mostly thought it will be useful to know for people who already knew it, but hesitated because of the monthly fee...

 

[cynicious]

@jacob_ Well it’s one of the few choices that’s open for foreigners and that would allow buying US ETFs. Other than that I have most of my assets on my other EU brokers.

 

[spinuscyn]

@cynicious Does it allow the purchase of US ETFs though? I would have thought not

 

[cynicious]

@spinuscyn For a non-EU account it should.

 

[spinuscyn]

@cynicious I get you.

im in Ireland but want to buy VT but guess I need to use a US broker

 

[cynicious]

@spinuscyn If you just want to buy VT, aren’t there enough UCITS equivalents? I never had an issue finding simple plain vanilla all world ETF in EU; the only reason I’m considering opening a separate account for US ETF is for leveraged ETF like TQQQ or UPRO.

 

[j3255]

@cynicious What about EQQQ?