Client fees set by Broker Master Users are always based
on fees per trade.
To specify client fees if you are a Broker
Master User
Click Funds
Management in the left pane, then click Client
Fees (or Sub Account
Fees).
To set fees for all client accounts,
select Global Schedule in
the list at the top of the page.
To set fees for a specific client
account, select an account ID from the list at the top of the screen,
then click Change Account.
or
If you have many client/sub accounts, use the Search Account feature
to use that account. In the Enter Account ID field, type the account
ID of the client or sub account you want to use, then click Search Account.
Once you have selected an account, you can select Monthly/Quarterly Invoicing for the client account, then enter a limit per month or per quarter. Monthly/Quarterly Invoicing is the automatic billing option for broker client fees.
Set fees per trade as described below:
To set a minimum fee per trade,
enter the amount in the Min field for each desired product/currency.
Remember that you can set the minimum fee per trade for all products
and currencies.
To set a ticket charge, enter the amount in the Ticket Charge field for each desired product/currency. Remember that you cannot enter both a minimum fee per trade AND a ticket charge for a single product/currency.
To set a maximum fee per trade,
enter the amount in the Max field for each desired product/currency.
Remember that you can set the maximum fee per trade for all products
and currencies.
To set an absolute markup amount
for a product, enter the amount in the Absolute Markup field for the
desired product/currency. If you set this amount for a product/currency,
you cannot set the Percent Markup or Absolute Amounts for the same
product/currency. For example, to set a client fee of $1.00, enter
1.00 in the Absolute Markup field for the desired product/currency.
Note that this client fee is in addition to IB’s commission.
To set a markup percentage,
enter the percentage amount without the decimal amount. (enter it
as a whole number) in the % Markup field for the desired product/currency.
For example, entering 100 indicates a 100% markup. If you set this
amount for a product/currency, you cannot set the Absolute Markup
or Absolute Amounts for the same product/currency. For example, to
set a client fee of 25% of IB’s commission, enter 25 in the % Markup
field for the desired product/currency. Note that this client fee
is in addition to IB’s commission.
To set absolute fees in a tiered
schedule by volume level (also called Absolute Tiered Commissions),
for each desired product/currency, enter the fee amount for each of
the three tiers (Fee#1, Fee#2 and Fee#3 fields), then enter the volume
level at which the fee changes in each of the three tiers (Vol#1,
Vol#2 and Vol#3 fields). Note that Absolute Tiered Commissions include
IB’s commission.
Check the Unit column for the specific product/currency. You must enter
absolute fees in the same units specified in the Unit column for that
product/currency. For example, if the Unit column displays a percent
sign (%), be sure to enter the percentage and not the absolute dollar
amount.
For example, suppose you want you wanted to charge 0.4% for up to 500
shares, 0.3% for up to 1,000 shares, and 0.2% above 1,000 shares of
GBP stocks. You would enter 0.4 in the Fee#1 field, 500 in the Vol#1
field, 0.3 in the Fee#2 field, 1000 in the Vol#2 field, and 0.2 in
the Fee#3 field. In this example, you would leave the Vol#3 field
blank.
Broker Master Users can set
absolute amounts for products and specific exchanges. To do this,
scroll down the list of products and enter the amount in the field
next to the desired product or exchange in the applicable currency.
You can also enter absolute fees in a tiered schedule as described
in the previous bullet. Note that you can set absolute fees, tiered
schedules and specify pass through fees for specific products and
specific exchanges only in the global fee schedule.
To specify that all regulatory
and exchange fees be added to an Absolute Tiered Commission schedule,
click the check box for the desired product/currency.
To specify interest markups or markdowns for
a specific currency:
Click the Pay Client No Credit Interest
check box to pay all credit and short proceeds credit interest to
the broker.
In the Credit Markdown field, enter a percentage
amount to be subtracted from the credit interest paid and given to
the broker.
In the Debit Markup field, enter a percentage
amount to be added to the debit interest. The maximum markup is 1%.
In the
Short Credit Markdown field, enter a percentage amount to be subtracted
from the short proceeds credit interest paid and given to the broker.
Click Continue.
Your modified client account fee schedule is displayed. Note that very
small numbers may be displayed in E notation.
Print this page for your records,
then click Continue.
