Commissions Stock Europe

Disclosures

1. For more information on how the monthly tiers are calculated, please see the IBKR Knowledge Base.
2. For more information on Third Party Transaction Fees, please see the IBKR Knowledge Base.
3. Euronext (FR/NL/BE) - EUR 0.75 per execution exchange fee passed through on ETF products only.
4. To a maximum value of HUF 4,444,444 thereafter .1%
5. View tiered - direct routing commission pricing on the EUIBSI exchange.
6. IB SmartRouting^SM is not available for Warrants and Structured products. Warrants and Structured Products can use Direct Routing only.

• Commissions apply to all order types.
• Value tiers are applied based on monthly cumulative trade volume summed across all stock, warrants and ETF shares. This is calculated once daily, not at the time of the trade. As such, execution reductions will start the next trading day after the threshold has been exceeded. Only shares that are traded while under the Tiered pricing structure will count towards the monthly volume. Share volumes for advisor, institution, 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.
• 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.
• 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.
• 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 shares is submitted and 100 shares execute, then you modify the order and another 100 shares execute, a commission minimum would be applied to both 100 share orders. Orders that persist overnight will be considered a new order for the purposes of determining order minimums.
• Please note that directed API orders cannot use the Tiered fee structure. SmartRouted API orders can use either the Tiered or Fixed structure.
• For European stock Algo orders, IB will apply the commission cap as follows:
      For EUR-denominated stocks every EUR 75,000 of executed value a new per order cap will be applied
      For CHF-denominated stocks every CHF 100,000 of executed value a new per order cap will be applied
      For GBP-denominated stocks every GBP 65,000 of executed value a new per order cap will be applied
• 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.
• The Panel on Takeovers and Mergers (PTM) Levy is a regulatory charge applicable to buy and sell trades in securities of eligible companies. This flat-rate levy of 1 GBP per qualifying trade applies conditionally. See conditions.

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