IB: Monthly Account Inactivity Fees Eliminated

I just got an email about it. Now all you potentially-customers that are afraid of spend some 10s for the first few months/years should rejoice :slight_smile:

Effective July 1, 2021, you will no longer be charged USD 10 for not maintaining a minimum balance or transaction activity for account xxxx

Superweird. I have 1 account and it’s over 100k.

9 Likes

This is quite the game-changer. I assume that many people are currently with Degiro because they’re far from having 100k$ invested. I wonder if they will switch.

It’s not weird, it’s a standard message sent to all users, and probably over a half of them has under 100k portfolio value.

1 Like

That’s awesome. Now I can finally recommend IBKR to people that just want to dabble with a few thousand.

1 Like

Nice! I have just 35k at IBKR, so no minimum fees anymore?

2 Likes

SQL-wise is weird. they have to insert your account number in the email template, it’s not 100% generic.
:slight_smile: :slight_smile:

1 Like

Awesome news, looking forward to that email! I saw someone mention it on Twitter just now, but otherwise it’s not mentioned anywhere else.

Here on the forum maybe.

For average friends and family, I guess many don’t want to trade with a foreign/US/UK/English-language broker.

2 Likes

I hope they don’t increase their other fees. I was ok with this fee in exchange for their other low fees compared to other brokerages.

They probably have enough customers that don’t complain and just buy ETFs to not bother raising other fees. Also they might be losing small customers to DeGiro.

1 Like

This changes basically everything. No point in using Degiro for anyone anymore.

5 Likes

Yes, same email received here, although I wasn’t paying it either.
Now this, and the announcement that they are going to trade crypto - I hope they can hold things upright when the hordes enter.

2 Likes

So, if I switch from Degiro to buy only VT, I pay only the CHF-USD Exchange fee?

Plus a small fee on each VT buy, but it’s really low

2 CHF for each exchange (at better rates than Degiro, should be noted) and 0.35 CHF for buying VT (it’s actually 0.0035 CHF per share, but you’ll need an order of >20k CHF to get charged more with VT).

I have 80k at degiro. What would be the Best move ? Sell transfert Money and rebuy ?

Where do you see these prices ? I see 0.1% and min CHF 10 per order

There is still a point in keeping a second broker or even third broker: don’t put all your eggs in the same basket.

Degiro just happens to be the next best thing in terms of fees after IBKR as far as I know. I don’t want to get ripped off by Swissquote, so I keep Degiro just for broker diversification :slight_smile:

2 Likes

Transfer is probably the best option unless Degiro charges too much for it.

Coincidence, I was just reading the fee document of degiro (https://www.degiro.ch/data/pdf/ch-en/CH-EN_Feeschedule.pdf) and here are the fees for that:

Transfer portfolio from DEGIRO: € 10.00 per position + external costs

By reading and partipating to this forum, you confirm you have read and agree with the disclaimer presented on http://www.mustachianpost.com/
En lisant et participant à ce forum, vous confirmez avoir lu et être d'accord avec l'avis de dégagement de responsabilité présenté sur http://www.mustachianpost.com/fr/