The forex broker Interactive Brokers continued with the upgrading of its product with the announcement of simple stock pricing in Europe. The group which is listed on the Nasdaq Stock Exchange announced the flat fee structure in the hope of expanding its business on the continent. The newly announced structure will be effective from Monday 19 July 2021.
In its press release, Interactive Brokers claims to start attracting individual investors in Europe. The fee structure will have standard pricing of just 3EUR/GBP for those trades that do not exceed EUR/GBP 6000.
For trades that are larger than the amount mentioned, IB will be charging 0.05% of the trade value. The forex broker highlighted the fact that these new commission rates are now available with IB SmartRouting. If you haven’t started trading forex yet have a look at these Forex Brokers to see what’s available.
Forex Broker IB looking To Expand Rapidly in Europe
The press release by IB also set out some of the parameters on the new simple fee pricing structure.
“IBKR prioritizes both institutional and individual investors. This new fixed pricing structure is offered alongside our current tiered pricing, and we invite our customers to review both options to choose the one that best fits their investing objectives.
The company press release went on to state. “Clients from over 200 countries and territories use Interactive Brokers to invest globally in stocks, options, futures, currencies, bonds, and funds This is done from a single integrated account with no added spreads, ticket charges, platform fees, or account minimums,”.
Interactive Brokers also announced the removal of its monthly inactivity fees earlier in July. Interactive Brokers (UK) Limited which is the British subsidiary of the American brokerage firm posted very strong results for 2020.
New Fee Structure Expected To Be Introduced To Other Markets Soon
In the latest announcement, Interactive Brokers also highlighted the fact that the primary focus of its newly introduced fee structure is the facilitation of European stock traders. The forex broker is also planning to introduce a similarly competitive pricing structure for other markets in the near future.
“IBKR is focusing on building its European customer base by introducing a new simplified pricing structure for stocks that are tailored to individual investor priorities. The first markets to benefit from this new fee model are the exchanges of Western Europe. We will release a similarly competitive pricing structure for Central European and Nordic markets soon,” the forex broker added.
Interactive Brokers recently expanded its European business with a new Irish subsidiary.
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