No. of Recommendations: 0
This morning, for the first time ever, I got hit by IB with a $5 fee on an order for a single corporate for “removing liquidity”. I have no idea when they put this fee into place. On Feb 27, less than three weeks ago, I also bought a single corporate thru IB, and the total charge was their usual $1/bond, $5/ticket. ARRGH. Live and learn.

Some poking around in IB’s FAQs suggests that the fee is coming from Bond Desk and that IB is merely passing it through to their customers. I bought a single thru Zions on March 1, and the commish was their usual $9.95/ticket. I did several bond purchases thru E*Trade last month, and their commish schedule hadn’t changed, either. I have no idea what’s going on. But be forewarned that buying bonds thru IB seems to have gotten more expensive.

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