Generic Trade vs. Interactive Brokers

Interactive BrokersGeneric Trade
Minimum balance$10,000*$0
Minimum activity chargeYesNo
Market data chargesYesNo
Specializes exclusively in Futures and OptionsNoYes
Commission rates for 1st 1000 trades/mo.**$.85/$.95 (day/overnight)$0.59 (no overnight fee)
Commission rates for trades 1001-10000 trades/mo.**$.65/$.75 (day/overnight)$0.59 (no overnight fee)
Margin for position tradesGreater than exchange minimumExchange minimum margin
Margin for intraday70% of position trade margin25% of position trade margin and as low as $50 margin available
24 hr US based tech supportNoYes
Multiple data centersYesYes
Direct connections to exchangesYesYes
All orders held at exchange or at exchange co-located serversNoYes
Phone orders$30$10
Financial security regulated by NFA and CFTCYesYes

Prices for competitors were obtained on April 19, 2017 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. In order to see margins for Generic Trade, as well as a list of any fees we may ever charge, please visit: Fees/Margins

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There is a substantial risk of loss in trading futures and options.