Interactive Brokers Eliminates $10,000 Account Minimum

"transforming itself into a kinder, gentler brokerage"

Lol, as if they're not doing this because they feel as if they can make more money.

Removing the minimum account balance, but saying you are not going to be happy with them if your balance is below 100k. I respect their honesty but..... why would anyone with a small account sign up for this?

There is a bunch of brokers out there, offering honest spreads to retail brokers. Move your money!!

Broker uesless, it is. Margin requirements are worthless.

Rule No 3
Brokers are not your friend - they're there to make a profit from you.

This is kind of a head scratcher for me. I have an account there, and love the place. The available markets are simply amazing. However, if someone is opening a $2,000 account in the US....would they really be looking to trade the ASX? Palm Oil futures in Asia? Strange indeed.

However, hands down the best broker available......not for Forex mind you, but everything else.

Too bad they require $10M to let you trade currencies under margin. If IB would drop that nonsense, I would move back to them in a heartbeat. Best spreads I've ever seen, not to mention cheap commissions too.

I still prefer CQG brokers. CQG is the best. Period.

Have been with IB for >10yrs. Cheap comms, and very decent spreads.

Desperate for business, like all the others constantly cold calling.

Back in the day, I remember we had acct with Dukas Geneva when the min was 0.25mio.*
I think today its 250? LoL

*No we didnt lodge 0.25mio with Dukas..
..created EoD settlement agreement thru UBS as I recall. LoL

YUP - they seriously need to drop this one. If they're doing all this to get more business, they can seriously make a stellar leap up in number of accounts if they just get rid of this damn $10mn requirement for Forex. Since they're otherwise reputable with excellent spreads, it seems to me they can easily rake in new customers by forgoing this stupid clause they instituted.

why woul i wnat to trade forex in BI if i can trade currency FUTURES with then with much more attractive spreads and commissions than many fx brokers???????

Broker Account Minimum
A USD 10,000 (or non-USD equivalent) up front deposit will be required that will be applied against commissions during the first 8 months.

Time PeriodRequired Minimum CommissionsExamples (USD or non-USD equivalent)
The first 8 monthsUSD 10,000 (or non-USD equivalent)If total commissions paid during the first 8 months are less than the required minimum, the difference is paid as a maintenance fee.
Example: USD 10,000 minimum - USD 7,000 commissions = USD 3,000 maintenance fee.
Starting the 9th monthUSD 2,000 per month (or non-USD equivalent)If total commissions paid during any month after the first 8 months are less than the monthly minimum, the difference is paid as a maintenance fee.
Example: USD 2,000 minimum - USD 1,400 commissions = USD 600 maintenance fee.

Does that mean that I need to generate more than deposited amount in 8 months not to pay maintenance fee?