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Author: pat1729 Big red star, 1000 posts Old School Fool CAPS All Star Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 195  
Subject: Interactive Brokers Date: 10/26/2006 9:53 PM
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Their interface takes a while to figure out and their Web site and customer service are geared to professionals (to put it politely). But they offer excellent rates and direct access to numerous exchanges around the world:

http://www.interactivebrokers.com/en/trading/products.php

Commissions for U.S. exchanges are half a cent per share with a minimum of $1. The rates for non-U.S. exchanges are similarly competitive:

http://www.interactivebrokers.com/en/accounts/fees/commission.php

The minimum monthly commission is $10 per account, meaning if you do not incur that much on trades, they will bill you the difference. Since most on-line brokerages charge roughly that amount per trade, IB is usually cheaper as long as you execute more than one trade per month.

E*Trade/Ameritrade/Scottrade/etc. are like Lowe's. Or maybe Home Depot with the bright new friendly store layout. Interactive Brokers is like a contractor supply warehouse in an industrial park. If you are curious about the "machinery" of the market, IB really does not really even try to hide it.

I like them a lot, but it took a while. They are definitely not for everybody.

- Pat
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