Flying Dutchman Member Posts: 24 Joined: 3/17/2014 Location: The Netherlands  User Profile | Thanks for pointing that out, it seems the differences in rates are wel.... HUGE. Or I'm missing something here, but I don't see what that would be ;-) Here are some details + source for anyone's later reference as well. GXtrader: http://www.gxtrader.com/marginschedule.aspx -------------------------------------------------------------------------------- Less than $250,000 7.75% $250,000 - $999,999.99 7.25% $1,000,000-$9,999,999.99 6.75% $10,000,000 and above 6.25% Interactive Brokers: https://www.interactivebrokers.com/en/index.php?f=interest&p=schedule2 -------------------------------------------------------------------------------- 0 - 100,000 1.63% (BM + 1.5%) 100,000.01 - 1,000,000 1.13% (BM + 1%) 1,000,000.01 - 3,000,000 0.63% (BM + 0.5%) 3,000,000.01 - 200,000,000 Greater of 0.5% or (BM + 0.25%) When calculating rates, keep in mind that IB uses a blended rate based on the tiers below. For example, for a balance over 1,000,000 USD, the first 100,000 is charged at the Tier I rate, the next 900,000 at the Tier II rate, etc. When determining the quoted spread, IB will use the greater of the benchmark rate and 0. That seems like an awful lot of $ you would be overpaying when shorting on a GxTrader account. In other words, you'd prefer to trade shorts on an IB account, wouldn't you? :) | |
