Commissions

Stocks, ETFs and Warrants / Overview

IB offers two pricing structures, Flat Rate and Cost Plus, to calculate commissions for stocks and ETFs in the US, Canada, Europe and Hong Kong.

Flat RATE	Cost PLUS
In the Flat Rate pricing structure, you will be charged a fixed amount per share, which includes commissions and all exchange and regulatory fees.	In the Cost Plus pricing structure, you will be charged a fixed IB fee, based on volume, that does not include exchange, regulatory or other third-party fees. You will be charged separate fees that are intended to approximate the costs incurred by IB from exchanges, regulators or other third parties to execute your order.

For a schedule of Flat Rate and Cost Plus commissions and fees, expand the regions listed under the specific pricing structure above. By default, all new accounts use the Flat Rate pricing structure. To change to the Cost Plus structure, log into Account Management/Account Administration. You may switch your pricing structure at any time, and it will take effect as of the next statement date (cutoff is 16:00 ET).

To compare commissions using different pricing structures, view our pricing structure sample comparisons using the links below.

For US stock and ETF pricing structure comparisons, click here.
For European stock pricing structure comparisons, click here.
For Hong Kong stock pricing structure comparisons, click here.

Notes:

Minimum charge of USD 0.5 (or non-USD equivalent) applies to ScaleTrader and Accumulate/Distribute FX orders.
Modified orders will be treated as the cancellation and replacement of an existing order with a new order. On certain exchanges, this may have the effect of subjecting modified orders to commission minimums as if they were new orders. For example, if an order for 200 shares is submitted and 100 shares execute, then you modify the order and another 100 shares execute, a commission minimum would be applied to both 100 share orders.
GTC orders which execute on multiple days are considered new orders for the purposes of calculating minimum commissions.
VAT, also referred to as consumption tax, goods and services tax, where applicable, will be separately applied for eligible services.
In the Cost Plus commission structure, customers may or may not be eligible to receive credit for rebates paid for certain types of orders by various market centers. For example, IB may receive payments from “dark pools” for routing orders to those dark pools. IB does not pass these payments to customers but customers gain significant benefits from IB routing to dark pools. Dark pools provide a source of substantial additional liquidity. Dark pools charge lower execution fees than exchanges. Dark pools also provide fast executions and the potential for price improvement over the NBBO. Please consult our fee page for each market center for more information.
In the Cost Plus commission structure, IB does not guarantee that costs charged to or rebates given to customers are a direct “pass-through” of applicable exchange, regulatory or third-party fees or rebates, and costs passed on to customers may be greater than the costs paid by IB to the relevant exchange, regulator or other third party. For example, IB may receive volume discounts that are not passed on to customers.
Short sale regulations, or unavailability of stock to borrow, may require IB to close out a customer’s short position. In such cases, an additional commission may apply to compensate IB and/or its affiliate through which it conducts a closeout for costs incurred in such close out.

http://www.interactivebrokers.com/en/p.php?f=commission&p=stocks

North America

United States Example 100 Shares @ USD 50 Share Price = USD 1.00 1,000 Shares @ USD 50 Share Price = USD 5.00 1,000 Shares @ USD 0.50 Share Price = USD 2.50
Flat Rate	Minimum Per Order	Maximum Per Order
USD0.005¹ per share	USD 1.00	0.5% of trade value²

Exceptions (API, FactorShare ETFs, Global X ETFs, VWAP)

FactorShare ETFs, Global X ETFs
	Flat Rate	Minimum Per Order	Maximum Per Order
All	USD0.00per share	USD 0.00	USD 0.00

US API Directed Orders⁴ Example 100 Shares @ USD 50 Share Price = USD 1.30 700 Shares @ USD 50 Share Price = USD 8.10
Value	Flat Rate	Minimum Per Order	Maximum Per Order
< = 500 shares	USD0.013¹per share	USD 1.30	0.5% of trade value²
> 500 shares	USD0.008¹per share	USD 1.30	0.5% of trade value²

Guaranteed VWAP Orders Example 100 Shares @ USD 50 Share Price = USD 1.00
Flat Rate	Minimum Per Order	Maximum Per Order
USD0.01per share	USD 1.00	0.5% of trade value²

Canada Example 100 Shares @ CAD 50 Share Price = CAD 1.00
Flat Rate	Minimum Per Order	Maximum Per Order
CAD0.01per share	CAD 1.00	0.5% of trade value^{2, 3}

Mexico Example 700 Shares @ MXN 100 Share Price = MXN 70.00
Flat Rate	Minimum Per Order	Maximum Per Order
MXN0.1%of trade value	MXN 60.00	N/A

Notes:

Commissions apply to all order types.
All exchange and regulatory fees are included.
For customers who send an extraordinary number of non-marketable limit orders to the NYSE, and who route such orders direct to NYSE, rather than using IB Smart routing, IB reserves the right to impose a surcharge in order to defray specialist order handling charges. In this event, IB will provide notice to affected customers.
VAT, also referred to as consumption tax, goods and services tax, where applicable, will be separately applied for eligible services.

[1] For CSFB ALGO and JEFFALGO IB will charge an additional USD 0.0010 per share. For orders executed on dark pools, IB will rebate USD 0.0010 per share.
[2] Plus exchange, ECN, and specialist fees.
[3] For orders that are immediately executed against an existing bid or offer on the exchange's order book, an exchange liquidity removing fee will be added. See the Cost Plus North America section for details of the exchange fees.
[4] This charge does not apply to relative, pegged to market and pegged to midpoint orders.

Europe

Austria Example 100 Shares @ EUR 50 Share Price = EUR 5.00
	Flat Rate	Minimum Per Order	Maximum Per Order
All	0.1%of trade value	EUR 4.00	EUR 120.00

Belgium Example 100 Shares @ EUR 50 Share Price = EUR 5.00 1,000 Shares @ EUR 50 Share Price = EUR 29.00
	Flat Rate	Minimum Per Order	Maximum Per Order
All	0.1%of trade value	EUR 4.00	EUR 29.00

France Example 100 Shares @ EUR 50 Share Price = EUR 5.00 1,000 Shares @ EUR 50 Share Price = EUR 29.00 100 Shares @ USD 75 Share Price = USD 7.50
	Flat Rate	Minimum Per Order	Maximum Per Order
Euro-denominated	0.1%of trade value	EUR 4.00	EUR 29.00
USD-denominated	0.1%of trade value	USD 5.00	USD 42.00

Germany Example SWB: 100 Shares @ EUR 50 Share Price = EUR 6.00 FWB: 100 Shares @ EUR 50 Share Price = EUR 5.00 1,000 Shares @ EUR 50 Share Price = EUR 50.00 Chi-X / NURO / Turquoise DE: 100 Shares @ EUR 50 Share Price = EUR 5.00 1,000 Shares @ EUR 50 Share Price = EUR 29.00 Xetra - ETFs: 100 Shares @ EUR 50 Share Price = EUR 5.00 1,000 Shares @ EUR 50 Share Price = EUR 29.00 Xetra - Stocks: 100 Shares @ EUR 50 Share Price = EUR 5.00 1,000 Shares @ EUR 50 Share Price = EUR 50.00
	Flat Rate	Minimum Per Order	Maximum Per Order
SWB	0.12%of trade value	EUR 6.00	None
FWB²	0.1%of trade value	EUR 4.00	EUR 99.00
Chi-X / NURO / Turquoise DE	0.1%of trade value	EUR 4.00	EUR 29.00
Xetra - ETFs	0.1%of trade value	EUR 4.00	EUR 29.00
Xetra - Stocks	0.1%of trade value	EUR 4.00	EUR 99.00

Italy Example 100 Shares @ EUR 50 Share Price = EUR 5.00 1,000 Shares @ EUR 50 Share Price = EUR 29.00
	Flat Rate	Minimum Per Order	Maximum Per Order
All	0.1%of trade value	EUR 4.00	EUR 29.00

Netherlands Example 100 Shares @ EUR 50 Share Price = EUR 5.00 1,000 Shares @ EUR 50 Share Price = EUR 29.00 100 Shares @ USD 75 Share Price = USD 7.50
	Flat Rate	Minimum Per Order	Maximum Per Order
Euro-denominated	0.1%of trade value	EUR 4.00	EUR 29.00
USD-denominated	0.1%of trade value	USD 5.00	USD 42.00

Spain Example 100 Shares @ EUR 50 Share Price = EUR 5.00
	Flat Rate	Minimum Per Order	Maximum Per Order
All	0.1%of trade value	EUR 4.00	None

Sweden Example 100 Shares @ SEK 50 Share Price = SEK 30.00 10,000 Shares @ SEK 50 Share Price = SEK 300.00
	Flat Rate	Minimum Per Order	Maximum Per Order
All	0.1%of trade value	SEK 30.00	SEK 300.00

Switzerland Example 100 Shares @ CHF 50 Share Price = CHF 10.00
	Flat Rate	Minimum Per Order	Maximum Per Order
All	0.1%of trade value	CHF 10.00	None

United Kingdom¹ Example 100 Shares @ GBP 50 Share Price= GBP 6.00 30,000 Shares @ GBP 2 Share Price= GBP 11.00 100 Shares @ USD 100 Share Price = USD 5.00
	Flat Rate	Minimum Per Order	Maximum Per Order
Up to GBP 50,000 Trade Value	GBP 6.00	GBP 6.00	GBP 6.00
> GBP 50,000 Trade Value	GBP6.00 + 0.05% of incremental trade value > GBP 50,000	GBP 6.00	GBP 29.00
LSE International Order Book	USD 0.05% of trade value	USD 5.00	None

Notes:

Commissions apply to all order types.
All exchange and regulatory fees are included.
VAT, also referred to as consumption tax, goods and services tax, where applicable, will be separately applied for eligible services.

[1] Stamp taxes (UK=0.5%, Ireland=1%) are directly passed through to the customer.
[2] Plus Trade Fee.

Asia-Pacific

Australia Example 400 shares@ AUD 50 Share Price= AUD 16
Tier	Flat Rate	Minimum Per Order	Maximum Per Order
All	0.08%of trade value	AUD 6.00	N/A

Hong Kong^{1 - 2} Example 400 shares@ HKD 70 Share Price= HKD 24.64
Tier	Flat Rate	Minimum Per Order	Maximum Per Order
All	0.088%of trade value	HKD 18	N/A

Japan Example 100 Shares @ JPY 10,000 Share Price= JPY 800
Tier	Flat Rate	Minimum Per Order	Maximum Per Order
All	0.08%of trade value	JPY 450	N/A

Singapore
Tier	Flat Rate	Minimum Per Order	Maximum Per Order
All	0.12%of trade value	SGD 3.00 (USD 2.50)	N/A

Notes:

Commissions apply to all order types.
VAT, also referred to as consumption tax, goods and services tax, where applicable, will be separately applied for eligible services.

[1] All exchange and regulatory fees are included, except in Hong Kong.
[2] For Hong Kong, exchange trading fees, exchange trading tariff, CCASS settlement fees, and CCASS custody fees are included. Government stamp duty (0.1% rounded up to the nearest 1.00, applies to stocks only) and SFC transaction levy (0.003%, applies to stocks and warrants) are directly passed through to the customer.

http://www.interactivebrokers.com/en/p.php?f=commission&p=stocks1

North America

Your total commissions will include IB commissions based on volume as shown in the table below. In addition, you will be charged separate fees that are intended generally to approximate the costs incurred by IB from exchanges, regulators or other third parties, which you can see in the subsequent sections. Click here for some examples.

Cost Plus
Volume (per month)¹	IB Commission per Share
	US Stocks, ETFs, and Warrants²	Canadian Stocks³
<=300,000 Shares	USD0.0035	CAD0.008
300,001-3,000,000 Shares	USD0.002	CAD0.005
3,000,001-20,000,000 Shares	USD0.0015	CAD0.004
>20,000,000 Shares	USD0.001	CAD0.003

Exceptions (FactorShare ETFs, Global X ETFs)

FactorShare ETFs, Global X ETFs
Volume (per month)¹	IB Commission per Share
All	USD0.00⁵

United States - Exchange Fees
AMEX	EDGEA
ARCA	ISE
ARCAEDGE	JEFFALGO
B-Trade	LAVA
BATS	NASDAQ/Island
BYX	NASDAQ BX
CBSX	NASDAQ PSX
CHX	NSX
CSFB Algo	NYSE
CSFB Path	VWAP
Direct Edge	Timber Hill Auto-ex
DARK

Canada - Exchange Fees
ALPHA	PURE
CHI-X ECN	TMX Select
Omega ECN	TSX and TXS Venture

United States - Clearing Fees (Per Share)
NSCC, DTC Fees	USD0.00020

Canada - Clearing Fees (Per Share)
TSE, PURE, Omega ECN, CHI-X ECN	CAD0.00017 per share/capped at CAD 2.00 per order
VENTURE	CAD0.00010 per share/capped at CAD 2.00 per order

United States - Transaction Fees
Transaction Fees⁴ (Stocks, ETF, Warrants, Rights, Voting Trust Certificates)	USD0.0000192*Value of Aggregate Sales
NYSE Pass-Through Fees	IB Cost Plus Commissions*0.00042
FINRA Pass-Through Fees	IB Cost Plus Commissions*0.00046

Canada - Transaction Fees
Regulatory Fee	CAD 0.00011 per share/capped at CAD 3.30 per trade (not per order)

Notes:

Commissions apply to all order types.
IB's Cost Plus fee will be capped at 0.5% of trade value.
When using SmartRouting, clients should be aware that IB may route the order to an exchange with a better quoted price but with substantially higher fees. In particular, clients should understand the ECN charges for removing liquidity when sending marketable orders for low priced stocks (under USD 2.50).
All exchange, special and other fees are charged on a per-share basis.
In the Cost Plus commission structure, customers may or may not be eligible to receive credit for rebates paid for certain types of orders by various market centers. For example, IB may receive payments from “dark pools” for routing orders to those dark pools. IB does not pass these payments to customers but customers gain significant benefits from IB routing to dark pools. Dark pools provide a source of substantial additional liquidity. Dark pools charge lower execution fees than exchanges. Dark pools also provide fast executions and the potential for price improvement over the NBBO. Please consult our fee page for each market center for more information.
Please note that directed API orders cannot use the Cost Plus fee structure. Smart-routed API orders can use either the Cost Plus or Flat Rate structure.

VAT, also referred to as consumption tax, goods and services tax, where applicable, will be separately applied for eligible services.

[1] Volume tiers are applied based on monthly cumulative trade volume summed across all stock and ETF shares at the time of the trade. Only shares that are traded while under the Cost Plus pricing structure will count towards the monthly volume. Share volumes for advisor, institutions, and broker accounts are summed across all accounts for the purpose of determining volume breaks. These fees are applied on a marginal basis for a given calendar month. If for example, you execute 500,000 US shares in a month, your IB Cost Plus fees would be:
- 300,000 shares at USD 0.0035
- 200,000 shares at USD 0.002
[2] USD 0.7 minimum per order.
[3] CAD 1.00 minimum per order.
[4] Transaction fees are only charged for sell orders.
[5] No exchange, clearing or transaction fees charged.

Europe

Your total commissions will include IB commissions based on volume as shown in the table below, plus any exchange/ECN, clearing, and regulatory fees which are displayed in the subsequent table. Click here for an example.

Cost Plus pricing is not available for all exchanges. Please review the list of exchanges below.

Cost Plus
Monthly Trade Value (EUR)	Fee Per Trade Value	EUR-Denominated Products¹		CHF-Denominated Products
Monthly Trade Value (EUR)	Fee Per Trade Value	Minimum per Order	Maximum per Order	Minimum per Order	Maximum per Order
<=1,000,000	0.080%	EUR 1.25	EUR 29.00	CHF 1.90	CHF 49.00
1,000,001 – 10,000,000	0.060%	EUR 1.25	EUR 29.00	CHF 1.90	CHF 49.00
10,000,001 – 50,000,000	0.050%	EUR 1.25	EUR 29.00	CHF 1.90	CHF 49.00
50,000,001 – 100,000,000	0.030%	EUR 1.25	EUR 29.00	CHF 1.90	CHF 49.00
100,000,001 – 500,000,000	0.020%	EUR 1.25	EUR 29.00	CHF 1.90	CHF 49.00
> 500,000,000	0.015%	EUR 1.25	EUR 29.00	CHF 1.90	CHF 49.00

Exchange / ECN, Clearing and Regulatory Fees (per exchange)

Belgium	France	Germany
BATS Europe (BATEEN)	BATS Europe (BATEEN)	BATS Europe (BATEDE)
CHIX (CHIXEN)	CHIX (CHIXEN)	CHIX (CHIXCH)
SBVM	SBF	FWB
Turquoise (TRQXEN)	Turquoise (TRQXEN)	IBIS
		SWB
		Turquoise (TRQXDE)

Italy	Netherlands	Switzerland
BVME	AEB	BATS Europe (BATECH)
	BATS Europe (BATEEN)	CHIX (CHIXCH)
	CHIX (CHIXEN)	EBS
	Turquoise (TRQXEN)	Turquoise TRQXCH
		VIRTX

Notes:

Value tiers are applied based on monthly cumulative trade volume summed across all stock, warrants and ETF shares. This is calculated once daily, not at the time of the trade. As such, execution reductions will start the next trading day after the threshold has been exceeded. Only shares that are traded while under the Cost Plus pricing structure will count towards the monthly volume. Share volumes for advisor, institution, and broker accounts are summed across all accounts for the purpose of determining volume breaks. These fees are applied on a marginal basis for a given calendar month.
VAT, also referred to as consumption tax, goods and services tax, where applicable, will be separately applied for eligible services.

[1] Cost Plus pricing is not available for all European exchanges. Please review the list of exchanges above.

Asia

Your total commissions will include IB commissions based on volume as shown in the table below, plus any exchange, clearing, and pass-through fees. Click here for examples.

Cost Plus pricing is not available for all exchanges. Please review the list of exchanges below.

Hong Kong - Cost Plus Fees
Monthly Trade Value (HKD)	Fee Per Trade Value	Minimum per Order	Maximum per Order
<=15,000,000	0.090%	HKD 18.00	N/A
15,000,001 – 300,000,000	0.050%	HKD 18.00	N/A
300,000,001 – 900,000,000	0.030%	HKD 18.00	N/A
900,000,001 – 2,000,000,000	0.020%	HKD 18.00	N/A
>2,000,000,000	0.015%	HKD 18.00	N/A

Hong Kong - Exchange, Clearing and Pass-through Fees (per exchange)
Hong Kong Stock Exchange (SEHK)

Notes:

Value tiers are applied based on monthly cumulative trade volume summed across all stock, warrants and ETF shares. This is calculated once daily, not at the time of the trade. As such, execution reductions will start the next trading day after the threshold has been exceeded. Only shares that are traded while under the Cost Plus pricing structure will count towards the monthly volume. Share volumes for advisor, institution, and broker accounts are summed across all accounts for the purpose of determining volume breaks. These fees are applied on a marginal basis for a given calendar month.
VAT, also referred to as consumption tax, goods and services tax, where applicable, will be separately applied for eligible services.

http://www.interactivebrokers.com/en/p.php?f=commission&p=stocks2

North America

The options commissions you pay will include IB's commission charges as specified below. In addition, you will be charged separate fees that are intended generally to approximate the costs incurred by IB from exchanges, regulators or other third parties. On some exchanges you may be eligible for a rebate, depending on the nature of the order.

United States - Smart Routed: <=10,000 Monthly Contracts Example 1 Contract @ USD 2 Premium = USD 1.00 2 Contracts @ USD 5 Premium = USD 1.40 3 Contracts @ USD 0.075 Premium = USD 1.50 5 Contracts @ USD 0.03 Premium = USD 1.25
Tier	Commissions	Minimum Per Order
Premium => USD 0.10	USD 0.70 per contract	USD 1.00
USD 0.05 =< Premium < USD 0.10	USD 0.50 per contract	USD 1.00
Premium < USD 0.05	USD 0.25 per contract	USD 1.00

United States - Smart Routed: 10,001-50,000 Monthly Contracts Example 1 Contract @ USD 2 Premium = USD 1.00 2 Contracts @ USD 5 Premium = USD 1.00 5 Contracts @ USD 0.03 Premium = USD 1.25
Tier	Commissions	Minimum Per Order
Premium => USD 0.05	USD 0.50 per contract	USD 1.00
Premium < USD 0.05	USD 0.25 per contract	USD 1.00

United States - Smart Routed: 50,001-100,000 Monthly Contracts Example 1 Contract @ USD 2 Premium = USD 1.00 2 Contracts @ USD 5 Premium = USD 1.00
Tier	Commissions	Minimum Per Order
All Premiums	USD 0.25 per contract	USD 1.00

United States - Smart Routed: > 100,000 Monthly Contracts Example 1 Contract @ USD 2 Premium = USD 1.00 2 Contracts @ USD 5 Premium = USD 1.00
Tier	Commissions	Minimum Per Order
All Premiums	USD 0.15 per contract	USD 1.00

United States - Direct Routed ⁴ Example 1 Contract = USD 1.00
Tier	Commissions	Minimum Per Order
All Premiums	USD 1.00 per contract	USD 1.00

Canada Example 1 Contract = CAD 1.50
Tier	Commissions	Minimum Per Order
All	CAD 1.50 per contract	CAD 1.50

Mexico Example 1 Contract = MXN 25 1 Contract = MXN 20 1 Contract = MXN 30
Tier	Commissions	Minimum Per Order
AMXL	MXN 25 per contract	MXN 25
NAFTRAC	MXN 20 per contract	MXN 20
QQQQ	MXN 30 per contract	MXN 30

United States - Exchange Fees
AMEX	ISE
BATS	NASDAQOM
BOX	PCX
C2	PHLX
CBOE

United States - Regulatory Fees
Tier	Commissions
Options Regulatory Fee ("ORF") ^{1, 2}	$0.0245 per contract

United States - Transaction Fees
Tier	Commissions
Transaction Fees³	USD 0.0000192* Value of Aggregate Sales

Notes:

[1] The Options Regulatory Fee ("ORF") is charged by the following exchanges: AMEX, BOX, CBOE, ISE, NOM, PCX, PHLX.
[2] Fee applies to the "Public Customer" Category only.
[3] Transaction fees are only charged for sell orders.
[4] Direct routed options are not eligible for exchange rebates.

Europe

Belgium Example Index Options 1 Contract = EUR 2.65
Tier	Commissions	Minimum Per Order
Index Options	EUR 2.65 per contract	EUR 2.65
Stock Options	EUR 2.85 per contract	EUR 2.85

France Example 1 Contract = EUR 0.30 1 Contract = EUR 0.50
Tier	Commissions	Minimum Per Order
All not listed below	EUR 0.30 per contract	EUR 0.30
CAC40	EUR 0.50 per contract	EUR 0.50

Germany Example 1 Contract = EUR 1.10 1 Contract = EUR 1.50 1 Contract = EUR 1.70
Tier	Commissions	Minimum Per Order
Stock Options	EUR 1.10 per contract	EUR 1.10
All Index Options not listed below	EUR 1.50 per contract	EUR 1.50
DAX	EUR 1.70 per contract	EUR 1.70

Italy Example 1 Index Option Contract = EUR 3.00
Tier	Commissions	Minimum Per Order
Stock Options	EUR 2.00 per contract	EUR 2.00
Index Options	EUR 3.00 per contract	EUR 3.00

Netherlands Example EOE Index Options 1 Contract = EUR 1.65
Tier	Commissions	Minimum Per Order
EOE Index Options	EUR 1.65 per contract	EUR 1.65
Stock Options	EUR 1.65 per contract	EUR 1.65
All Other Options	EUR 2.00 per contract	EUR 2.00

Spain Example 1 Contract = EUR 0.90
Tier	Commissions	Minimum Per Order
Stock Options	EUR 0.90 per contract	EUR 4.50

Sweden Example 1 Contract = SEK 15.00 1 Contract = SEK 20.00
Tier	Commissions	Minimum Per Order
Stock Options	SEK 15.00 per contract	SEK 15.00
Index Options	SEK 20.00 per contract	SEK 20.00

Switzerland Example 1 Contract = CHF 1.70 1 Contract = CHF 2.80
Tier	Commissions	Minimum Per Order
Stock Options	CHF 1.70 per contract	CHF 1.70
Index Options	CHF 2.80 per contract	CHF 2.80

United Kingdom Example 1 Contract = GBP 1.70
Tier	Commissions	Minimum Per Order
All	GBP 1.70 per contract¹	GBP 1.70

Notes:

Commissions apply to all order types.
All exchange and regulatory fees included.
Commissions are charged for exercise and assignment.
VAT, also referred to as consumption tax, goods and services tax, where applicable, will be separately applied for eligible services.
Costs passed on to customers may be greater than the costs paid by IB to the relevant exchange, regulator or other third party. For example, IB may receive volume discounts that are not passed on to customers.
Cost-Plus Tiered pricing available for index options. See futures commissions for more information.

[1] Stamp duty on option exercise (UK=0.5%) is directly passed through to the customer.

Asia-Pacific

Australia Example 1 ASX-listed Contract = AUD 2.00
Tier	Commissions	Minimum Per Order
Index options (ASX)	AUD 2.00 per contract¹	AUD 2.00
Stock Options	AUD 0.30 per contract¹	AUD 2.00

India² Example 100 Contracts = INR 5,000 100 Contracts = INR 4,000 100 Contracts = INR 3,000
(Securities Transaction Tax, Exchange Charges, and Service Tax)
Tier	Commissions	Minimum Per Order
=< 20 Crores³	INR 50 per contract⁵	None
20 =< 50 Crores³	INR 40 per contract⁵	None
>= 50 Crores³	INR 30 per contract⁵	None

Hong Kong Example 1 Contract = HKD 30.00 1 Contract @ HKD 0.23 Premium (500 Multiplier) = HKD 21 2 Contracts @ HKD 0.14 Premium (1,000 Multiplier) = HKD 20
Tier	Commissions	Minimum Per Order
Index Options	HKD 30.00 per contract	HKD 30.00
Stock Options⁴:
SEHK Tier II Options⁸	0.2% of option value + exchange fee of HKD1.00per contract	HKD 18.00
All other stock options	0.2% of option value + exchange fee of HKD3.00per contract	HKD 18.00

Japan Example 1 Stock Option (TSEJ) Contract = YEN 90
Tier	Commissions	Minimum
N225 Options ⁽⁶⁾	18bps per Trade Value	YEN 100 per order
Stock Options (TSEJ) ⁽⁷⁾	YEN 90 per contract	YEN 90 per contract

South Korea Example 10 Contracts @ KRW 0.75 Premium (100,000 Multiplier) = KRW 1,500
Tier	Commissions	Minimum Per Order
All	0.2% of option value	KRW 1,000

Notes:

Commissions apply to all order types.
All exchange and regulatory fees included except for Hong Kong stock options.
Commissions are not charged for exercise and assignment, except in Australia.
Cost-Plus Tiered pricing available for index options. See futures commissions for more information.
VAT, also referred to as consumption tax, goods and services tax, where applicable, will be separately applied for eligible services.
Costs passed on to customers may be greater than the costs paid by IB to the relevant exchange, regulator or other third party. For example, IB may receive volume discounts that are not passed on to customers.

[1] The cost for exercise/assignments of ASX options will be 0.275 per contract for stock options and 0.75 per contract for index options.
[2] The sliding scale for Indian commissions is incremental per tier per month.
[3] 1 lac = approx. INR 100,000.
1 crore = approx. INR 10,000,000.
[4] For all exercise and assignments standard stock commissions apply plus Stock Exchange Options Clearing House (SEOCH) fee of HKD 2.00 per contract.
[5] In the case of intra-day trades on the NSE, in which a position is opened and closed on the same day, IB commissions will only be charged on the opening leg. Other charges such as STT, regulatory fees, exchange fees, etc. will apply to both legs.
[6] The cost of an exercise or assignment is 6 bps with a maximum of JPY 420 per contract for both Flat Rate and Cost-Plus Tiered commission structure
[7] Introductory rate based on the Tokyo Stock Exchange trading fee waiver period. This rate is subject to change.
[8] Tier II stock options are options on the following underlying symbols: 3, 6, 11, 23, 66, 179, 203, 330, 358, 386, 390, 700, 728, 762, 857, 883, 902, 914, 939, 998, 1088, 1186, 1398, 1800, 1880, 1898, 1919, 2318, 2328, 2388, 2600, 2628, 2777, 2800, 2899, 3323, 3328, 3968, 3988.

http://www.interactivebrokers.com/en/p.php?f=commission&p=options

Futures and Futures Options / Overview

US Markets: IB offers two pricing structures, Cost-Plus Fixed and Cost-Plus Tiered, for futures and futures options traded in the US.

Cost-Plus FIXED	Cost-Plus TIERED
In the Cost-Plus Fixed commission structure, you will be charged a fixed IB commission for each contract traded. This commission does not include exchange, regulatory and other third-party fees. You will be charged separately on a pass-through basis for these fees. You will NOT be charged a daily IB carrying fee for positions held overnight.	In the Cost-Plus Tiered commission structure, you will be charged IB commissions which are reduced if you exceed specific volume thresholds. These commissions do not include exchange, regulatory and other third-party fees. You will be charged separately on a pass-through basis for these fees. You will also be charged an IB carrying fee on positions held overnight.

Non-US Markets: IB offers two pricing structures, Flat Rate and Cost-Plus Tiered, for futures and futures options traded outside the US.

Flat RATE	Cost-Plus TIERED
In the Flat Rate commission structure, you will be charged a single flat rate per contract that includes all commissions and all exchange, regulatory and other third party fees. You will NOT be charged separately for any other fees, and you will NOT be charged a daily IB carrying fee for positions held overnight.	In the Cost-Plus Tiered commission structure, you will be charged IB commissions which are reduced if you exceed specific volume thresholds. These commissions do not include exchange, regulatory and other third-party fees. You will be charged separately on a pass-through basis for these fees. You will also be charged an IB carrying fee on positions held overnight.

In addition, institutions and members (or participants in a member program) of a US or Canadian Futures exchange may qualify for discounted exchange fees. Click the Exchange Incentive Program tab for more information.

For a schedule of pricing structures, see the links along the top of the page under the tabset. Customers select their pricing structure during the registration process, and can switch at any time through Account Management/Account Administration. Changes will take effect as of the next statement date (cutoff is 16:00 ET).

For a comparison of futures and futures options rates for customers who are not members of an exchange click here.

Notes:

If you choose the Cost-Plus Fixed rate structure for US markets, you will receive the Flat Rate structure for non-US markets. Likewise, if you choose the Cost-Plus Tiered structure for US markets, you will receive the Cost-Plus Tiered structure for non-US markets.
Modified orders will be treated as the cancellation and replacement of an existing order with a new order. On certain exchanges, this may result in modified orders being charged commission minimums as if they were new orders. For example, if you submit an order for 200 contracts 100 contracts fill, then you modify an order parameter, resubmit the order and the other 100 contracts fill, a commission minimum could be applied to both 100 contract orders.
VAT, also referred to as consumption tax, goods and services tax, where applicable, will be separately applied for eligible services.
Costs passed on to customers may be greater than the costs paid by IB to the relevant exchange, regulator or other third party. For example, IB may receive volume discounts that are not passed on to customers.

http://www.interactivebrokers.com/en/p.php?f=commission&p=futures

Cost-Plus Fixed

In the Cost-Plus Fixed commission structure, you will be charged a fixed IB commission for each contract traded. This commission does not include exchange, regulatory and other third-party fees. You will be charged separately on a pass-through basis for these fees. You will NOT be charged a daily IB carrying fee for positions held overnight.

Cost-Plus Fixed Commission per Contract
	US	EUR	GBP	CAD	CHF	HKD	AUD	SEK	SGD	JPY
	0.85	0.65	0.60	0.85	0.95	7.00	0.95	6.50	1.20	85.00

Cost-Plus Tiered

In the Cost-Plus Tiered commission structure, you will be charged IB commissions which are reduced if you exceed specific volume thresholds. These commissions do not include exchange, regulatory and other third-party fees. You will be charged separately on a pass-through basis for these fees. You will also be charged an IB carrying fee on positions held overnight.

Cost-Plus Tiered Commission per Contract
Volume (per month)¹	US	EUR	GBP	CAD	CHF	HKD	AUD	SEK	SGD	JPY
<=1,000 Contracts	0.85	0.65	0.60	0.85	0.95	7.00	0.95	6.50	1.20	85.00
1,001-10,000 Contracts	0.65	0.50	0.45	0.65	0.75	5.50	0.75	5.00	1.00	65.00
10,001-20,000 Contracts	0.45	0.40	0.30	0.45	0.55	4.00	0.55	3.75	0.65	45.00
>20,000 Contracts	0.25	0.20	0.15	0.25	0.30	2.00	0.30	2.00	0.35	25.00

Carrying Fee per Contract²
	US	EUR	GBP	CAD	CHF	HKD	AUD	SEK	SGD	JPY
	0.10	0.08	0.07	0.10	0.10	0.80	0.15	0.80	0.20	10.00

Exchange & Regulatory Fees³
CBOT	CBOT (Floor-Based)
CFE	CME (Electronic-Globex)
CME (Floor-Based)	ELX
ICE US	NYBOT
NYMEX	NYSE LIFFE

The below schedule of fees applies only to customers who execute futures trades with IB and then give them up for carrying by another broker.

Execution Only ⁴

IB Execution Fee per Contract
Volume (per month)¹	US	EUR	GBP	CAD	CHF	HKD	AUD	SEK	SGD	JPY
<=1,000 Contracts	0.60	0.45	0.40	0.60	0.65	5.00	0.65	4.50	0.85	60.00
1,001-10,000 Contracts	0.45	0.35	0.30	0.45	0.50	4.00	0.50	3.50	0.70	45.00
10,001-20,000 Contracts	0.35	0.30	0.20	0.35	0.40	3.00	0.40	3.00	0.50	35.00
>20,000 Contracts	0.25	0.20	0.15	0.25	0.30	2.00	0.30	2.00	0.35	25.00

Notes:

Commissions apply to all order types.
All fees are charged in the currency of the traded product.
VAT, also referred to as consumption tax, goods and services tax, where applicable, will be separately applied for eligible services.
The standard commission will be charged for the exercise or assignment of any Futures or Future Options Contract. Click here for details.
Single Stock Futures are not available for volume tiered pricing.

[1] Volume tiers are applied based on monthly cumulative trade volume summed across all futures and futures options contracts at the time of the trade. Only contracts that are traded while under the Volume Tiered pricing structure will count towards the monthly volume. Contract volumes for advisor, institutions, and broker accounts are summed across all accounts for the purpose of determining volume breaks. These fees are applied on a marginal basis for a given calendar month. If for example, you execute 1,500 US contracts in a month, your IB execution costs would be:
- 1,000 contracts at USD 0.60
- 500 contracts at USD 0.45
[2] Carrying charges are applied for each net futures contract, net short call futures options, or net short put futures options on a single underlying for each business day the net futures position is held overnight.
[3] Non-member exchange and regulatory fees are applied, unless a customer is pre-qualified by IB. Contact your sales person for more information.
[4] Exchange and Regulatory fees only apply for CFE.

http://www.interactivebrokers.com/en/p.php?f=commission&p=futures1

North America

Canada Example 1 Roundturn = CAD 4.80
	Commissions per Contract	Minimum per Order
All	CAD 2.40	CAD 2.40

Mexico Example Forex Futures (USD): 1 Roundturn = MXN 40.00 AMXL, CEMEXCPO, FEMSAUBD, GCARSOA1, TELMEXL, Forex Futures (EUR): 1 Roundturn = MXN 50.00 BONO3, IPC Options: 1 Roundturn = MXN 80.00 PC, BONO10: 1 Roundturn = MXN 100.00
	Commissions per Contract	Minimum per Order
Forex Futures (USD)	MXN 20.00	MXN 20.00
AMXL, CEMEXCPO, FEMSAUBD, GCARSOA1, TELMEXL, Forex Futures (EUR)	MXN 25.00	MXN 25.00
BONO3, IPC Options	MXN 40.00	MXN 40.00
IPC, BONO10	MXN 50.00	MXN 50.00

Notes:

Commissions apply to all order types.
All exchange and regulatory fees included.
VAT, also referred to as consumption tax, goods and services tax, where applicable, will be separately applied for eligible services.
The standard commission will be charged for the exercise or assignment of any Futures or Future Options Contract. Click here for details.

Europe

Belgium Example 1 Roundturn = EUR 9.00
	Commissions per Contract	Minimum per Order
All	EUR 4.50	EUR 4.50

France Example 1 Roundturn = EUR 4.00
	Commissions per Contract	Minimum per Order
All	EUR 2.00	EUR 2.00

Germany Example 1 Roundturn = EUR 4.00
	Commissions per Contract	Minimum per Order
All (including SSF)	EUR 2.00	EUR 2.00

Italy Example SPMIB30, MFIB: 1 Roundturn = EUR 6.00 Mini MFIB30: 1 Roundturn = EUR 4.00
	Commissions per Contract	Minimum per Order
SPMIB30, MFIB	EUR 3.00	EUR 3.00
Mini MFIB30	EUR 2.00	EUR 2.00

Netherlands Example Index Futures 1 Roundturn = EUR 5.60
	Commissions per Contract	Minimum per Order
Index Future	EUR 2.80	EUR 2.80
All Other Futures	EUR 3.00	EUR 3.00

Spain Example IBEX35: 1 Roundturn = EUR 6.00 Mini IBEX35 Futures: 1 Roundturn = EUR 2.50 Mini IBEX35 Options: 1 Roundturn = EUR 1.60 Single Stock Futures: 1 Roundturn = EUR 4.00
	Commissions per Contract	Minimum per Order
IBEX35	EUR 3.00	EUR 3.00
Mini IBEX35 Futures	EUR 1.25	EUR 1.25
Mini IBEX35 Options	EUR 0.80	EUR 0.80
Single Stock Futures	EUR 2.00	EUR 2.00

Sweden Example 1 Roundturn = SEK 40.00
	Commissions per Contract	Minimum per Order
All	SEK 20.00	SEK 20.00

Switzerland Example 1 Roundturn = CHF 8.00
	Commissions per Contract	Minimum per Order
All (including SSF)	CHF 4.00	CHF 4.00

United Kingdom Example All Not Listed Below: 1 Roundturn = GBP 3.40 LIFFE Coffee and Sugar: 1 Roundturn = USD 6.20 Intercontinental Exchange (USD Denominated Contracts): 1 Roundturn = USD 4.80 Single Stock Futures (GBP Denominated Contracts): 1 Roundturn = GBP 3.40 Single Stock Futures (USD Denominated Contracts): 1 Roundturn = USD 5.50 Single Stock Futures (EUR Denominated Contracts): 1 Roundturn = EUR 5.00 Single Stock Futures (CHF Denominated Contracts): 1 Roundturn = CHF 7.50
	Commissions per Contract	Minimum per Order
All not listed below	GBP 1.70	GBP 1.70
LIFFE Coffee and Sugar	USD 3.10	USD 3.10
Intercontinental Exchange (USD Denominated Contracts)	USD 2.40	USD 2.40
Single Stock Futures (GBP Denominated Contracts)	GBP 1.70	GBP 1.70
Single Stock Futures (USD Denominated Contracts)	USD 2.75	USD 2.75
Single Stock Futures (EUR Denominated Contracts)	EUR 2.50	EUR 2.50
Single Stock Futures (CHF Denominated Contracts)	CHF 3.75	CHF 3.75

Notes:

Commissions apply to all order types.
All exchange and regulatory fees included.
VAT, also referred to as consumption tax, goods and services tax, where applicable, will be separately applied for eligible services.
The standard commission will be charged for the exercise or assignment of any Futures or Future Options Contract. Click here for details.

Asia-Pacific

Australia Example 1 Roundturn = AUD 10.00
	Commissions per Contract	Minimum per Order
All	AUD 5.00	AUD 5.00

Hong Kong Example HSI: 1 Roundturn = HKD 60.00 MHI: 1 Roundturn = HKD 34.00 HFI.HK, HHI, MCH: 1 Roundturn = HKD 40.00 HKG, HKS 1 Roundturn = USD 2.60 Single Stock Futures: 1 Roundturn = HKD 40.00
	Commissions per Contract	Minimum per Order
HSI	HKD 30.00	HKD 30.00
MHI	HKD 17.00	HKD 17.00
HFI.HK, HHI, MCH	HKD 20.00	HKD 20.00
HKG, HKS	USD 1.30⁽⁵⁾	USD 1.30
Single Stock Futures	HKD 20.00	HKD 20.00

India¹ (plus Securities Transaction Tax, Exchange Charges, and Service Tax) Example =< 10 Crores²: 1 Roundturn = 333 contracts x 50 x 6,000 = 99,900,000 x 0.03% = 29,970 INR 10 =< 20 Crores²: 1 Roundturn = [(333 contracts x 50 x 6,000) x 0.03%] + [(333 contracts x 50 x 6,000) x 0.02%] = 29,970 + 19,980 = 49,950 INR => 20 Crores²: 1 Roundturn = [(333 contracts x 50 x 6,000) x 0.03%] + [(333 contracts x 50 x 6,000) x 0.02%] + [(100 contracts x 50 x 6,000) x 0.01%] = 29,970 + 19,980 + 3,000 = 52,950 INR
	Commissions	Minimum per Order
=< 10 Crores²	0.03%⁴	INR 50
10 =< 20 Crores²	0.02%⁴	INR 50
=> 20 Crores²	0.01%⁴	INR 50

Japan Example All Products Not Listed Below: 1 Roundturn = JPY 1000 JGB: 1 Roundturn = JPY 1000 N225: 1 Roundturn = JPY 800 N225 Mini: 1 Roundturn = JPY 80 MNTPX: 1 Roundturn = JPY 100 MJ: 1 Roundturn = JPY 170
	Commissions per Contract	Minimum per Order
All products not listed below	JPY 500	JPY 500
JGB	JPY 500	JPY 500
TOPX	JPY 400	JPY 400
N225 (futures)	JPY 400	JPY 400
N225 Mini (futures)	JPY 40	JPY 40
MNTPX, TPXC30, TSEREIT	JPY 50	JPY 50
MJ	JPY 85	JPY 85

Singapore Example SSG: 1 Roundturn = SGD 10.00 SEY: 1 Roundturn = JPY 600 SGXNKM : 1 Roundturn = JPY 100 AH, APEX50, CU, N225U, NIFTY, STW, XINA50, ZINC, ZS: 1 Roundturn = USD 5.70
	Commissions per Contract	Minimum per Order
SSG	SGD 5.00	SGD 5.00
SEY	JPY 300	JPY 300
SGXNK	JPY 225	JPY 225
SGXNKM	JPY 50	JPY 50
SGB	JPY 85	JPY 85
AH, APEX50, CU, N225U, NIFTY, STW, XINA50, ZINC, ZS	USD 2.85	USD 2.85

South Korea Example 1 Roundturn = 2 Contracts @ KRW 200 (500,000 Multiplier) = 200,000,0000 x 0.004% = KRW 8,000
	Commissions per Contract	Minimum per Order
Futures	0.004% of Trade Value	N/A

Notes:

Commissions apply to all order types.
All exchange and regulatory fees included.
VAT, also referred to as consumption tax, goods and services tax, where applicable, will be separately applied for eligible services.
The standard commission will be charged for the exercise or assignment of any Futures or Future Options Contract. Click here for details.

[1] The sliding scale for Indian commissions is incremental per tier per month.
[2] 1 lac = approx. INR 100,000.
1 crore = approx. INR 10,000,000.
[3] 50 = NIFTY contract multiplier.
[4] IB commissions will be charged only on the opening leg in case of intra-day trades on the NSE (positions opened and closed on the same day). No commissions will be charged on the closing leg, other charges apply on both legs (such as STT, reg fees, exchange fees and etc).
[5] Special introductory fee.

http://www.interactivebrokers.com/en/p.php?f=commission&p=futures2

Cost-Plus Tiered (Non-US)

In the Cost-Plus Tiered commission structure, you will be charged IB commissions which are reduced if you exceed specific volume thresholds. These commissions do not include exchange, regulatory and other third-party fees. You will be charged separately on a pass-through basis for these fees. You will also be charged an IB carrying fee on positions held overnight.

Cost-Plus Tiered Commission per Contract (unless otherwise noted)
Contract Volume (per month)¹	USD		EUR	GBP	CAD	CHF	HKD	AUD	SGD	JPY
	All except HKG / HKS	HKG / HKS⁶								N225 / N225M FUT⁴	JGB	MJ / SGXNKM / SGB	TOPX	MNTPX / TPXC30 / TSEREIT	N225 OPT⁵	All Other
<=1,000	1.05	0.55	0.90	0.65	1.25	1.40	8.50	3.55	2.25	280 / 28	350	50	280	38	12 bps	230
1,001-10,000	0.65	0.50	0.60	0.45	0.80	0.90	5.00	2.60	1.50	210 / 21	295	45	210	31	10 bps	160
10,001-20,000	0.45	0.45	0.40	0.30	0.60	0.60	3.50	1.80	1.00	150 / 15	255	41	150	25	8 bps	115
>20,000	0.25	0.25	0.25	0.15	0.30	0.35	2.00	1.00	0.65	100 / 10	225	38	100	20	6 bps	60

Carrying Fee per Contract²
Product Currency	US	EUR	GBP	CAD	CHF	HKD	AUD	SGD	JPY ⁷
	0.10	0.08	0.07	0.10	0.10	0.80	0.15	0.20	10

North America - Exchange and Regulatory Fees³
Canada:	Montreal Exchange

Europe - Exchange and Regulatory Fees³
Belgium:	Euronext.Liffe	France:	Euronext.Liffe (Matif) Euronext.Liffe (Monep)
Germany:	Eurex	Italy:	IDEM
Netherlands:	Euronext.Liffe	Spain:	MEFF
Switzerland:	Eurex	United Kingdom:	Euronext.Liffe Euronext Liffe Commodities Intercontinental Exchange IPE

Asia-Pacific - Exchange and Regulatory Fees³
Australia:	SNFE	Hong Kong:	HKFE HKMEX
Japan:	OSE TSE	Singapore:	SGX

The below schedule of fees applies only to customers who execute futures trades with IB and then give them up for carrying by another broker.

Execution Only

Execution Fee per Contract
Volume (per month)¹	USD	EUR	GBP	CAD	CHF	HKD	AUD	SGD	JPY
									N225 / N225M FUT⁴	JGB	MJ / SGXNKM / SGB	TOPX	MNTPX / TPXC30 /TSEREIT	All Other
<=1,000 Contracts	0.75	0.65	0.45	0.90	1.00	6.00	2.65	1.60	200/20	270	42	200	30	130
1,001-10,000 Contracts	0.45	0.40	0.30	0.55	0.60	3.50	2.00	1.00	150/15	235	39	150	25	90
10,001-20,000 Contracts	0.35	0.30	0.20	0.45	0.45	2.75	1.50	0.75	110/11	215	37	110	21	70
>20,000 Contracts	0.25	0.25	0.15	0.30	0.35	2.00	1.00	0.65	80/8	205	36	80	18	60

Notes:

Commissions apply to all order types.
All fees are charged in the currency of the traded product.
VAT, also referred to as consumption tax, goods and services tax, where applicable, will be separately applied for eligible services.
The standard commission will be charged for the exercise or assignment of any Futures or Future Options Contract. Click here for details.
Single Stock Futures are not available for Cost-Plus pricing.
European and Asian Index Options are available for unbundled pricing.

[1] Volume tiers are applied based on monthly cumulative trade volume summed across all futures and futures options contracts at the time of the trade. Only contracts that are traded while under the unbundled pricing structure will count towards the monthly volume. Contract volumes for advisor, institutions, and broker accounts are summed across all accounts for the purpose of determining volume breaks. These fees are applied on a marginal basis for a given calendar month. If for example, you execute 1,500 EUR contracts in a month, your IB execution costs would be:
1,000 contracts at EUR 0.65
500 contracts at EUR 0.40
[2] Carrying charges are applied for each net futures contract, net short call futures options, or net short put futures options on a single underlying for each business day the net futures position is held overnight.
[3] Non-member regulatory fees are applied, unless a customer is pre-qualified by IB. Contact your sales person for more information.
[4] For the purpose of determining the monthly volume tier, each mini future contract will count as 1/10 of the volume of one standard size future contract, i.e. for every 10 N225M / MJ / MNTPX futures contracts traded, the monthly volume will increase by 1.
[5] Per Order minimum of YEN 100 applies.
[6] Special introductory fee.
[7] The carry cost on the following mini-future products will be 1 JPY per contract: Singapore-listed SGXNKM and SGB; Osaka-listed N225M; Tokyo-listed MJ and MNTPX.

http://www.interactivebrokers.com/en/p.php?f=commission&p=futures3

Exchange Incentive Program

Members, arcades, and proprietary traders operating under a special exchange program are entitled to special pricing. In order to participate, you must choose IB Cost-Plus Tiered futures pricing and complete the required exchange documentation. Please see the table below for applications and information.

Exchange	Program	Qualifications	Type
CME	Electronic Corporate Membership Program (ECMP)	Electronic proprietary trading groups and trading arcades that are not eligible for other CME membership categories and fee incentives.
	Asian Incentive Program (AIP)	Hedge funds and banks located in the Pacific Rim
	International Incentive Program¹	Proprietary trading firms and trading arcades located outside of North America.
	Latin American Fund Manager Incentive Program	Registered Latin American-based funds.
NYMEX	NYMEX Programs	IB will honor NYMEX Members and Lessee Participants, and Incentive Program Participants. For details, please visit the NYMEX.	N/A

All applications may be submitted to:

Kevin Keller
Attn: Incentive Programs
Interactive Brokers LLC
2 Pickwick Plaza
Greenwich, CT 06830

Please allow two weeks from submission for IB to fully process your application with the applicable exchange. Questions may be directed to memberpricing@interactivebrokers.com.

Notes:

[1] The European Incentive Program was replaced by the International Incentive Program in the beginning of 2009.

http://www.interactivebrokers.com/en/p.php?f=commission&p=futures6

US SSFs

US Single Stock Futures (SSFs), ETFs with 1K Multiplier and Futures on NBIs are only offered on the Cost Plus pricing structure, which calculates commissions based on volume. Your total cost will include IB commissions plus any exchange, regulatory or other third party fees.

IB Commission per Contract
Volume (per month)¹	SSFs	ETFs with 1K Multiplier and Futures on NBI
<=20,000 Contracts	USD0.30	USD1.50
20,001-100,000 Contracts	USD0.20	USD1.00
100,001-200,000 Contracts	USD0.15	USD0.75
>200,000 Contracts	USD0.10	USD0.50

Exchange Fees
	All SSFs, ETFs and Futures on NBI
OneChicago	0.002%Trade Value

Carry Fees
	All SSFs, ETFs and Futures on NBI
OneChicago	0.0001%Open Position Value, charged daily

Regulatory Fees
	All SSFs, ETFs and Futures on NBI
FINRA	USD0.02per contract

Notes:

Commissions apply to all order types.
VAT, also referred to as consumption tax, goods and services tax, where applicable, will be separately applied for eligible services.

Costs passed on to customers may be greater than the costs paid by IB to the relevant exchange, regulator or other third party. For example, IB may receive volume discounts that are not passed on to customers.
[1] Volume tiers are applied based on monthly cumulative trade volume summed across all SSF contracts at the time of the trade. These fees are applied on a marginal basis for a given calendar month. If for example you execute 300,000 contracts in a month, your commission (exclusive of exchange and regulatory fees) would be:

20,000 contracts at USD 0.30
80,000 contracts at USD 0.20
100,000 contracts at USD 0.15
100,000 contracts at USD 0.10

http://www.interactivebrokers.com/en/p.php?f=commission&p=ssf

EFPs

EFP orders routed to IBEFP receive all-in Flat Rate pricing¹.

EFPs
Order Size²	Flat Rate Commission per Contract
<100 Contracts	USD0.50
100-499 Contracts	USD0.30
500-1,999 Contracts	USD0.25
2,000+ Contracts	USD0.20

Notes:

Commissions apply to all order types.
All exchange and regulatory fees included.
VAT, also referred to as consumption tax, goods and services tax, where applicable, will be separately applied for eligible services.

[1] EFP orders that are not routed to the IBEFP may be charged commissions and daily carrying fees on the stock leg and SSF leg separately.
[2] Rates are not tiered on cumulative contracts or execution size, but rather order size. A 250 contract order, executing 50 contracts would be charged USD 0.30 per EFP contract.

http://www.interactivebrokers.com/en/p.php?f=commission&p=efp

Forex

IB provides the best bid/offer from multiple large banks and charges a separate low commission. We do this in the interest of transparent pricing instead of marking up our quotes and charging nothing in commissions as is the practice with many forex brokers. Because quote markups at other brokers are generally much larger than our explicit low commissions, our forex customers benefit from lower forex trading costs.

IDEALPRO Example <=USD 1,000,000,000: USD 50,000 daily volume for EUR = USD 2.50 USD 1,000,000,000 monthly volume for EUR = USD 20,000 USD 1,000,000,001 - 2,000,000,000: USD 1,250,000,000 monthly volume for EUR = USD 23,750 >USD 2,000,000,000: USD 2,500,000,000 monthly volume for EUR = USD 40,000
Monthly Trade Amount	Commissions	Minimum per Order
<=USD 1,000,000,000	0.2basis point ¹ *Trade Value ²	USD 2.50 ³
USD 1,000,000,001 - 2,000,000,000	0.15basis point ¹ *Trade Value ²	USD 2.50 ³
>USD 2,000,000,000	0.10basis point ¹ *Trade Value ²	USD 2.50 ³

Currency Conversions Example USD 10,000 for EUR = USD 2.50
Monthly Trade Amount	Commissions	Minimum per Order
All	1basis point ¹ x Trade Value ²	USD 2.50 ³

Notes:

Commissions apply to all order types.
All exchange and regulatory fees included.
Modified orders will be treated as the cancellation and replacement of an existing order with a new order. On certain exchanges, this may have the effect of subjecting modified orders to commission minimums as if they were new orders. For example, if an order for 200 shares is submitted and 100 shares execute, then you modify the order and another 100 shares execute, a commission minimum would be applied to both 100 share orders.
VAT, also referred to as consumption tax, goods and services tax, where applicable, will be separately applied for eligible services.

[1] 1 basis point=0.0001.
[2] Commissions for forex trades are calculated off the trade value and then converted and charged to the base currency of the account.
[3] Order minimums are quoted in USD with USD equivalent being utilized for other currencies.

http://www.interactivebrokers.com/en/p.php?f=commission&p=fx

Metals (Gold USD/oz. (loco London), Silver USD/oz. (loco London))

IB Commissions
Monthly Trade Amount	Commissions	Minimum per Order
All	0.15basis point ¹ *Trade Value	USD 2.00

Storage Cost Fees
All	Storage cost 0.10 % per annum.

Borrow Fees
Product		Balance Cutoffs		Borrow Fees Charged
	Currency	Tier I	Tier II	Below Tier I	Between Tier I and Tier II	Above Tier II
All	USD	1,000,000	10,000,000	1.142% (BM + 1%)	0.642% (BM + 0.5%)	0.442% (BM + 0.3%)

Notes:

Commissions apply to all order types.
All exchange and regulatory fees included.
Modified orders will be treated as the cancellation and replacement of an existing order with a new order. On certain exchanges, this may have the effect of subjecting modified orders to commission minimums as if they were new orders. For example, if an order for 200 ounces is submitted and 100 ounces execute, then you modify the order and another 100 ounces execute, a commission minimum would be applied to both 100 ounces orders.
VAT, also referred to as consumption tax, goods and services tax, where applicable, will be separately applied for eligible services.

[1] 1 basis point=0.0001.

http://www.interactivebrokers.com/en/p.php?f=commission&p=gold

Bonds

United States - Corporate and Municipal Bonds Example <= USD 10,000 Face Value: USD 5,000 Face Value = USD 5.00 > USD 10,000 Face Value: USD 20,000 Face Value = (0.1% x 10,000) + (0.025% x 10,000) = USD 10.00 + USD 2.50 = USD 12.50
	Commissions	Minimum per Order	Maximum per Order
<= USD 10,000 Face Value	0.1%* Principal Value (10 bps)¹	USD 5.00	USD 10.00
> USD 10,000 Face Value	0.025%* Principal Value (2.5 bps)¹	USD 5.00	None

United States - Treasuries (Bills, Notes, Bonds) Example <= USD 1,000,000 Face Value: USD 1,000,000 Face Value = (0.025% x 1,000,000) = USD 250.00 > USD 1,000,000 Face Value: USD 2,000,000 Face Value = (0.025% x 1,000,000) + (0.005% x 1,000,000) = USD 250.00 + USD 50.00 = USD 300.00
	Commissions	Minimum per Order	Maximum per Order
<= USD 1,000,000 Face Value	0.025%* Principal Value (2.5 bps)¹	USD 5.00	None
> USD 1,000,000 Face Value	0.005%* Principal Value (0.5 bps)¹	USD 5.00	None

Notes:

Commissions apply to all order types.
All exchange and regulatory fees included.
Commissions are tiered. For example, the first 10K in principal (face) value is charged @ 0.1% and any remaining principal over 10K is charged at 0.025%.
VAT, also referred to as consumption tax, goods and services tax, where applicable, will be separately applied for eligible services.

[1] 1 basis point=$0.0001.

http://www.interactivebrokers.com/en/p.php?f=commission&p=bonds

CFDs

European CFDs
Monthly Value (in GBP) ¹	Per Trade Fee	Minimum per Order (GBP)	Minimum per Order (EUR)
<=10,000,000	0.05%	GBP 3.00	EUR 3.00
10,000,001 – 100,000,000	0.03%	GBP 2.00	EUR 2.00
> 100,000,000	0.02%	GBP 1.00	EUR 1.00

Australia
Trading Currency	Commissions per Contract	Minimum per Order
AUD	0.05%of trade value +1.5%per annum open interest charge	AUD 6.00
USD	0.05%of trade value +1.5%per annum open interest charge	USD 4.00

Notes:

Commissions apply to all order types.
All exchange and regulatory fees included.
VAT, also referred to as consumption tax, goods and services tax, where applicable, will be separately applied for eligible services.

[1] The CFD tiers are based on the Monthly Trade Value as expressed in GBP. When calculating the Monthly Trade Value in GBP, IB converts any non-GBP denominated CFD trade to its GBP-equivalent using the most recent exchange rate. In this way, stock trades denominated in non-GBP currencies will be counted towards the monthly value for commission breaks.

http://www.interactivebrokers.com/en/p.php?f=commission&p=cfd

Funds

United States
Fees	Price
IB Transaction Fee	USD14.95Per Transaction

Notes:

Commissions apply to all order types.
All exchange and regulatory fees included.
Only no-load funds with no early redemption fee are offered.
Minimum size on initial fund order is USD 3,000, subsequent minimum order size is USD 100.

http://www.interactivebrokers.com/en/p.php?f=commission&p=funds

Trade Desk

Broker assisted trading is available for US stocks, options, futures, and futures options with minimum order size of 10,000 shares or 100 contracts. Use IB's trade desk when you are away from your computer, or if you just want another set of eyes watching your orders and updating you on market changes. Enjoy direct access to the trade desk with no phone queue or hold time.

United States
Product	Commissions	Minimum per Order
Stocks and ETFs	USD0.01per share	USD 100
Options	USD0.95per contract	USD 95
Futures	USD3.00per contract	USD 300
Futures Options	USD3.00per contract	USD 300

Notes:

Flat rate commissions include all regulatory and exchange fees, and no ticket charges apply. Cost-Plus Tiered prices are also available. To discuss how IB can help with your trading needs, please contact our trading desk at 203-618-4030, or via email at kfischer@interactivebrokers.com.

http://www.interactivebrokers.com/en/p.php?f=commission&p=tdesk

AQS Borrow/Loan

United States

Example

Example 1:
The Carry Charge is Capped at the Calculated Maximum

Collateral Amount = $50,000
Borrow Fee Rate = 100%
Borrow Fee² = $138.90

Minimum Fee Calculation = 0.001 x $50,000 / 360 = $0.14
Maximum Fee Calculation = 0.01 x $50,000 / 360 = $1.39
IB Carry Charge Calculation = 10% x $138.90 = $13.89

Total Initial Commissions = $1.39 + $5.00 = $6.39
Daily Cost = $1.39

Example 2:
The Carry Charge is Rounded Up to the Calculated Minimum

Collateral Amount = $50,000
Borrow Fee Rate = .5%
Borrow Lend Fee² = $0.69

Minimum Fee Calculation = 0.001 x $50,000 / 360 = $0.14
Maximum Fee Calculation = 0.01 x $50,000 / 360 = $1.39
IB Carry Charge Calculation = 10% x $0.69 = $0.07

Total Initial Commissions = $0.14 + $5.00 = $5.14
Daily Cost = $0.14

Rate

Minimum

Maximum

IB Daily Carry Charge ¹

10%*Borrow/ Lend Fee ²

0.1% *Collateral Amount / 360

1% *Collateral Amount/ 360

IB Ticket Charge ³

USD5.00

N/A

Notes:

[1] Fees are accrued daily through the end of the month on a 360 day/year basis, and are charged at the beginning of next month. IB Carry Charge includes the AQS fee.
[2] The Borrow/Lend Fee is similar to the bid/ask on a stock contract, and is calculated as follows: Collateral Amount * Borrow/Lend Rate / 360.
[3] The $5.00 IB Ticket Charge is a one-time fee, and is only charged on the first day that the contract is opened. The IB Ticket Charge includes the AQS ticket charge.

http://www.interactivebrokers.com/en/p.php?f=commission&p=aqs