IBKR GlobalTrader

Investing / Brokers
1

Have anyone tried already? I just saw a news

https://seekingalpha.com/pr/18701195-interactive-brokers-introduces-simple-mobile-app-for-global-stock-trading

launched IBKR GlobalTrader, a simple mobile trading application for investors to trade stocks around the world.

Investors can open an account in minutes and start trading stocks on over 80 stock exchanges in North America, Europe and Asia.

IBKR GlobalTrader conveniently lets investors make deposits in up to 23 different currencies. These deposits are automatically converted at interbank rates into the currency needed to buy and sell stocks across markets and geographies.

For investors outside the U.S., commissions start at just USD 0.0035 per share

Commissions on Forex transactions are 3bps (0.03%) times the trade value, with no hidden spreads or markups.

Fractional Shares

IBKR GlobalTrader is available for download in the Apple App Store and on Google Play.

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2

Interesting, hadn’t seen this before. It sounds like they are opening up the IBKR Free version (not available in CH before) and made an easier to use interface? I hope they will not get into trouble with the regulators like Robinhood did!

3

No they aren’t. Same pricing as tiered.

4

Just tested it and man does it feel smooth and nice when navigating compared to the old app. Looks just like a redesign since fractional shares are still US only.

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5

Tried already, in my opinion is very user-friendly, smooth and clean.(Already deleted the old app)!

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6

You’re right. Except on globaltrader.interactivebrokers.co.uk you get the fixed tier pricing :rofl:

7

Isn’t that different from the normal fees of 2 USD per transaction?

But the break even point would be at a volume of 6666 USD, so it’s probably more convenient for most people.

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8

Can one use an already existing login?

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9

Yes you can!

The new app looks amazing!
Thank you for the heads up everyone!

11

Was somebody able to convert small amounts of cash without a usual 2 USD commission?

For now to me it looks like the functionality is exactly the same as with ibkr mobile.

12

I think it is refered to the forex trading product aka CFD, and not about the currency conversion of your CHF in USD for example.

13

Yes looks like you are right. Then I don’t see any new functionality.

And derivatives are not supported.

14

The pricing page does list “FX Auto Conversion” as “3 basis points of trade value”. This doesn’t sound like (leveraged) forex trading. However, this is pricing for new clients that sign up with GlobalTrader, as I understand it. For existing IBKR clients, my guess is that the pricing doesn’t depend on which app we use.

15

Ok, so currency auto conversion if instruments currency is different than the base currency. So they are kind of more competing with Degiro?

16

What’s this?

https://impact.interactivebrokers.com/

The IMPACT app is also available in the App Store.

18

ESG analysis and similar stuff.

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19

I could login with my account details and even access the funding options.

Guess I’m still on the current pricing, as the pricing page makes mention of “New US” customers only.

21

Has anyone successfully converted currency via the “Convert” button in GlobalTrader?

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22

I tried with my existing IB account. The preview shows usual fees around 2 USD.

23

My first attempt half an hour ago failed to convert with unspecified error.
Just successfully did it though.

I guess the lower “tiered” transaction fees on existing “Pro” accounts should compensate me for the higher FX minimums?