Commissions Options

Notes:

1. Volumes on both US and Canadian markets contribute to sliding scale.
2. IBKR Lite accounts are charged a fixed rate commission on the first 1,000 U.S. option contracts traded per month. For U.S. options volume in excess of 1,000 contract per month, IBKR will apply the IBKR Pro U.S. options tiered commission model.
3. The Options Regulatory Fee ("ORF") is charged by the following exchanges: AMEX, BATS, BOX, CBOE, CBOE2, EDGX, EMERALD, ISE, GEMINI, MERCURY, MIAX, MEMX, NOM, NASDAQBX, PSE, PHLX, SAPPHIRE.
4. Fee applies to executions which clear in the "Customer" account with OCC. This will generally include Public Customer and Professional Customer transactions.
5. Transaction fees are only charged for sell orders.
6. Direct routed orders are charged USD 1.00/contract on all option premiums.
7. Third party clearing, regulatory, and transaction fees are charged on NANOS options on Cboe.
8. Please note that the stated Consolidated Audit Trail ("CAT") fee will be charged for all executions of options contracts. Currently, the fees include Prospective CAT Fees (on-going fee) as well as Historical CAT Assessment Fee that will expire once the historical cost is collected. Note that FINRA CAT will reevaluate the Prospective CAT Fees twice a year to reflect actual CAT costs.

• IBKR's Tiered (i.e., commission plus external venue fees/rebates) commission models are not intended to be a direct pass-through of exchange and third-party fees and rebates. Costs passed on to clients in IBKR’s Tiered commission schedule may be greater than the costs paid by IBKR to the relevant exchange, regulator, clearinghouse or third party. For example, IBKR may receive volume discounts that are not passed on to clients. Likewise, rebates passed on to clients by IBKR may be less than the rebates IBKR receives from the relevant market. For example, IBKR may receive enhanced rebate payments for exceeding volume thresholds on particular markets, but typically will not pass these enhancements directly to clients. In certain circumstances, IBKR may receive discounts with respect to third party fees, including exchange and/or clearing fees, that may not pass-through to clients.
• Commissions apply to all order types.
• Commissions are not charged for US exercise and assignment.
• Commissions are not charged for US cabinet buy-to-close trades. This is applicable only when the option minimum tick is > $0.01. Complex orders are excluded.
• IBKR considers exchange fees and/or rebates in determining where to route an order. Under certain circumstances, IBKR may route a marketable order to an exchange that is not currently posting the national best bid or offer (NBBO) but which may be willing to "step up" and execute the order at the NBBO, in order to avoid or reduce the exchange fee for executing the order. If this routing method is used, the client generally will pay a lower execution fee than client would have otherwise paid. In those cases where IBKR routes to an exchange that is not currently posting the NBBO in order to reduce or avoid exchange fees, IBKR will guarantee the client a fill at the NBBO at the time that IBKR routed the order.
• Volume breaks are applied based on monthly cumulative trade volume summed across all options contracts at the time of the trade. Contract volumes for advisor, separate trading limit, and broker accounts are summed across all accounts for the purpose of determining volume breaks. These fees are applied on a marginal basis for a given calendar month. If for example, you execute 12,000 US contracts in a month, your execution costs would be:
  10,000 contracts at USD 0.65
  2,000 contracts at USD 0.50
• Modified orders will be treated as the cancellation and replacement of an existing order with a new order. On certain exchanges, this may have the effect of subjecting modified orders to commission minimums as if they were new orders. For example, if an order for 200 contracts is submitted and 100 contracts execute, then you modify the order and another 100 contracts execute, a commission minimum would be applied to both 100 contract orders.
• Order minimums will be applied to the individual legs of a COMBO order.
• Non-Trading Permit Holders, non-broker/dealer and professional customers may be eligible for the CBOE Frequent Trader program. Under the program, rebates may be provided on certain CBOE proprietary products. Clients must contact the exchange directly regarding the application and approval process. Once enrolled, clients should notify IBKR by email at memberpricing@interactivebrokers.com to ensure their orders are routed with the proper FTID designation. Once enrolled, rebates will be provided directly from the CBOE
• IBKR may change these rates at any time in its sole discretion. Commission rates may also vary by program or arrangement. Restrictions apply. The published rates are for direct clients of IBKR. Clients introduced through another broker or managed by an advisor may pay additional commissions set by their introducing broker or advisor. Clients should contact their introducing broker or advisor about the rates that will apply to their account.
• VAT, also referred to as consumption tax, goods and services tax, where applicable, will be separately applied for eligible services. For certain tax jurisdictions, e.g. GST in Singapore, the commissions and fees that we charge you may be subject to GST even for services provided and consumed outside of Singapore. IBKR does not give tax advice, please consult a tax professional.
• IBKR will use reasonable efforts to maintain an accurate and up-to-date list of Penny Pilot symbols across various exchanges. However, as the classification of Penny Pilot symbols may vary across exchanges, the lists provided may not be exhaustive. As a result, in certain instances you may pay a fee or receive a rebate on a Penny Pilot transaction that differs from the fee charged or rebated by the exchange.

* Lower investment costs will increase your overall return on investment, but lower costs do not guarantee that your investment will be profitable.