Fee structure when Opening Two Accounts with One Broker

Question

I have a traditional IRA account that I want to move to a Interactive Brokers. I would also like to invest some non-IRA money with that same broker. However, there's a minimum balance and minimum fees. Would I have to pay twice the minimums (one for non-IRA and another for IRA)? I've been trying to describe this question to their tech support, but they don't seem to understand.

Answer 1

From their site:

"As IB caters to active professional traders and investors, we require that each account generate a minimum of commissions per month."

This doesn't quite answer the regular fee minimum question, I know. However, the above implies an annual $240 commission between the two accounts (it states $10/mo).

You don't mention the dollars involved or your intended investments, but it's clear to me this broker is not for the smaller trader. The lower their per trade commission, the more trades to get to the $120/account level. Most investors shouldn't have this volume of trades. I hope this helps you decide.