Generic Trade vs. Interactive Brokers
Interactive Brokers | Generic Trade | |
---|---|---|
Minimum balance | $10,000* | $0 |
Minimum activity charge | Yes | No |
Market data charges | Yes | No |
Specializes exclusively in Futures and Options | No | Yes |
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 trades | Greater than exchange minimum | Exchange minimum margin |
Margin for intraday | 70% of position trade margin | 25% of position trade margin and as low as $50 margin available |
24 hr US based tech support | No | Yes |
Multiple data centers | Yes | Yes |
Direct connections to exchanges | Yes | Yes |
All orders held at exchange or at exchange co-located servers | No | Yes |
Phone orders | $30 | $10 |
Financial security regulated by NFA and CFTC | Yes | Yes |
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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