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Steve2

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Subject : RE: Questions Regarding GXT Transition to Gar Wood
Posted : 7/27/2016 4:54 PM
Post #36071 - In reply to #36068

So, I dug through IB's knowledge base to find out what options brokers have for setting client markups. Here's the link if anyone is interested.

https://www.interactivebrokers.com/en/software/am/am/manageclients/types_of_broker_client_fees.htm

In summary, a broker (e.g,. Gar Wood) can configure fees per trade, markups on commissions, markups on specific currencies, and markups/markdowns on interest credits/debits.

So, Angela, this may not be as simple as just publishing a new commission schedule. We'll need to know any markups on borrow fees and margin interest, as well as, markdowns on interest normally credited to a client account.

Note that I'm not against markups (if they are reasonable). It took a lot of work to build a FIX server and with it one can do things like order bundling across clients to reduce overall commissions, as well as, more intelligent order submissions to get better prices. Nirvana (and the broker needed to make this work) deserve to be compensated for that. I'd just like to understand the true cost.

Steve
Deleting message 36071 : RE: Questions Regarding GXT Transition to Gar Wood


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