Short Fees

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September 11, 2020 at 9:06 pm #102047

ScottMcNab
Participant

Would be grateful for recommendations from those who are running short systems with IB ….looking for advice please for commission to be used for Amibroker backtest…I seem to be getting quite a large variation in costs in live trades for short trades (anywhere from 0.02% to 0.12% so far ) …depending on where in this spectrum the “typical” fee sits it may be better to re-deploy cash to another long system.

2nd Q please…are you checking the short fee at the time of order placement before the open? For example, i see that shorting GME today would be very expensive

September 12, 2020 at 1:04 am #112150

Nick Radge
Keymaster

I think that red icon has something to do with shorting. From memory means stock not available?

September 12, 2020 at 4:32 am #112151

JulianCohen
Participant

Yes I have noticed a larger cost since I have been running them.

I have been keeping track of my average brokerage per trade over all long and short MOC systems together and running the shorts sent my average up from 0.0035 to 0.007

It seems a bit random as to what you get charged so I think I’m going to set my Short backtest to 0.01

September 12, 2020 at 9:40 am #112153

Anonymous
Inactive

Over my last 600 or so short trades I’ve gotten average cost of 0.00021 (0.021%) of purchased/sold value round trip.

Interestingly, opening the trades costing around 0.012% of trade value (0.480 of a cent per share by volume) and closing them just 0.009% of trade value (0.335 of a cent per share by volume) .

Yeah red dot is short sale restriction. I have never found this to be an issue though. Usually because the short sale restriction only comes into effect after the price has already dumped somewhat within the trading session. By that time, you have already gotten your short trade on so whilst no further short selling is allowed, your short position is already filled and will still be allowed to be closed/covered.

September 12, 2020 at 9:14 pm #112152

ScottMcNab
Participant

Many thanks guys..much appreciated

October 6, 2020 at 6:35 am #112155

TrentRothall
Participant

Is anyone shorting US stock on a cash Account?

October 6, 2020 at 10:16 pm #112272

ScottMcNab
Participant

Yep

October 6, 2020 at 11:38 pm #112282

TrentRothall
Participant

good to know. Bloody IB and their RegT requirements!
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