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QuestionsCategory: Investor PsychologyInteractive Brokers Mobile app trading fee
redvolver asked 3 months ago

Hi all IBKR users
Do see my screenshot. I was trying out buying a stock on IBKR app and notice if I want to buy 1 AMAZON stock right now, I have to top up a difference of almost USD 200.
I thought IBKR fee are very competitive? Or did I execute wrongly ?
I have checked if I have unexecuted orders but there is none.
Pls advise.

2 Answers
Rusmin Ang answered 3 months ago

Hi Red
You need to convert 5K sgd to usd first. That’s why the screen shows cash balance is 0. You can find the conversion on your mobile IBKR app under More > Convert Currency.
Their fee is very competition at USD1 per trade. 

redvolver answered 3 months ago

Hmm, there seems to be something wrong with either their fee or my account.
As you can see from my next screenshot, I try converting $5000 to hkd but a whopping $457.74 needs to be charged before any conversion.
Can any one advise ?

Rusmin Ang replied 3 months ago

That’s weird. Something to do with your cash.

You should contact them directly since you are dealing with them..

The conversion fee is very competitive also.. I remember it was like USD2 per conversion.

redvolver replied 3 months ago

Haha I think I played around too much that I have some cancelled orders not processed yet. Hence the money is being held for these orders.

Thank you Rusmin!

Rusmin Ang replied 3 months ago

No worries! Glad you figured it out :)