Generic Trade vs. Interactive Brokers
| Interactive Brokers | Generic Trade | |
|---|---|---|
| Minimum balance | $10,000* | $0 |
| Minimum activity fee | Yes | No |
| Market data fees | Yes | No |
| Specializes exclusively in Futures and Options | No | Yes |
| Commission rates for 1st 1000 trades/mo.** | $0.85 | $0.59 |
| Commission rates for trades 1001-10000 trades/mo.** | $.65/$.75 (day/overnight) | $0.59 |
| 24 hr US based tech support | No | Yes |
| Multiple data centers | Yes | Yes |
| Direct connections to exchanges | Yes | Yes |
| Phone orders | $30 | $5 |
| Financial security regulated by NFA and CFTC | Yes | Yes |
Prices for competitors were obtained on March 30, 2010 and are believed to be accurate, but not guaranteed. Some of the firms listed above may reduce or waive commissions or fees, depending on account activity or total account value. *The minimum initial deposit may change based on the account type; this example is an ‘over 21′, individual US based account. **All commission or ‘IB execution and IB clearing rates (as termed by IB) are quoted in a per contract, per side basis and do not include exchange and regulatory fees. Also for this example, the rates for US exchanges were used and IB may charge different rates for markets outside the US. Interactive Brokers® and IB SM are service marks and/or trademarks of Interactive Brokers LLC.