Good news for those using interactive brokers, they recently sent out a mailer updating account holders that they will be removing the inactivity fees which used to be USD 10 per month.
What is this fee about?
The fee is levied when an account doesn’t maintain a minimum balance or transaction activity.
When is the fee no longer charged?
Effective July 1, 2021 and this change will be reflected in your August 2021 account statement.
Why is Interactive Brokers lifting this fee?
As shared by them in the email “Our decision to remove inactivity fees aligns us with industry standards and reflects our ongoing commitment to provide clients with low-cost trading solutions.”
Don’t you love the current low or free trading trends that the industry is heading towards.