Interactive Brokers has eliminated monthly inactivity fees!
Account maintenance fees used to be a required minimum that IBKR charges for investment accounts under them.
This fee is US$10 and charged on a per account basis monthly – it is waived if you have more than US$100,000 in equity with them or generate more than 10 USD in commissions and fees for the month.
IBKR has finally removed this fee and it is now no longer charging any account maintenance fees, bringing both the account minimum and account maintenance fee to $0.
With this reduction, you no longer need to actively trade to incur activity fees, and you no longer need to hold any minimum amount with them.
IBKR is my best rated broker for investing because it gives you global access to investing with more than 135 markets supported.
It has also the best FX rates for converting SGD to USD and has one of the cheapest brokerage fees in the market for trading – for example, US market trades start with a minimum of just US$0.35.
It has won numerous awards and it is consistently rated highly as one of the best online brokers today with its trading platform and sophisticated portfolio analytics.
With these positive changes, there are now less reasons to use other brokerages.
More posts in this series:
- Getting started with Interactive Brokers
- Interactive Brokers Portfolio Analyst
- Funding your account with Interactive Brokers
- FX conversion with Interactive Brokers
- Withdrawing Cash from Interactive Brokers