Interest and Financing

Interest Schedule

Interactive Brokers calculates an internal funding rate based on a combination of internationally recognized reference rates on overnight deposits (ex: Fed funds, LIBOR), bank deposit rates, and real-time market rates from the world's largest and most liquid market, the interbank short-term currency swap market.

While central banks and major money-center banks set and publish reference rates for interest dependent investments, these rates often do not reflect the exact investment costs/opportunities seen in interbank and commercial transactions. IBKR's interest model starts with the reference rates and incorporates the dynamic market pricing to produce a midpoint or "benchmark".

IBKR adds a spread around the benchmark to determine deposit and borrowing rates applicable to client balances in each currency. Spreads are tiered such that larger balances receive more favorable interest treatment due to smaller spreads around the benchmark.

Reference Benchmark Rates

IBKR's benchmark for each currency is the reference rate around which our credit, debit, stock loan and other interest rate linked calculations are determined. IBKR uses a combination of internationally recognized reference rates (such as LIBOR, Fed Funds, etc), bank deposit rates, and dynamic interbank rates determined from foreign exchange and money markets to calculate an IBKR Reference Benchmark rate.

For more information about IBKR Reference Benchmark click here.

For information regarding the various external reference rates that contribute to the IBKR Reference Benchmark rate click here.

Currency	Description for Effective Date 20230921	Rate	Effective Date
USD	Reference Benchmark USD	5.330%	20230921
USD	Reference Benchmark USD Libor	5.062%	20230921
AED	Reference Benchmark AED	5.237%	20230921
AUD	Reference Benchmark AUD	4.154%	20230921
BGN	Reference Benchmark BGN	3.652%	20230921
BRL	Reference Benchmark BRL	12.650%	20230921
CAD	Reference Benchmark CAD	4.911%	20230921
CHF	Reference Benchmark CHF	1.450%	20230921
CNH	Reference Benchmark CNH	3.276%	20230921
CZK	Reference Benchmark CZK	6.850%	20230921
DKK	Reference Benchmark DKK	3.456%	20230921
EUR	Reference Benchmark EUR	3.870%	20230921
GBP	Reference Benchmark GBP	5.332%	20230921
HKD	Reference Benchmark HKD	5.214%	20230921
HUF	Reference Benchmark HUF	13.521%	20230921
ILS	Reference Benchmark ILS	3.841%	20230921
INR	Reference Benchmark INR	9.700%	20230921
JPY	Reference Benchmark JPY	(0.471)%	20230921
KRW	Reference Benchmark KRW	3.500%	20230921
MXN	Reference Benchmark MXN	11.261%	20230921
NOK	Reference Benchmark NOK	3.859%	20230921
NZD	Reference Benchmark NZD	5.480%	20230921
PLN	Reference Benchmark PLN	5.949%	20230921
RON	Reference Benchmark RON	5.975%	20230921
RUB	Reference Benchmark RUB	12.450%	20230921
SAR	Reference Benchmark SAR	5.740%	20230921
SEK	Reference Benchmark SEK	3.755%	20230921
SGD	Reference Benchmark SGD	3.776%	20230921
TRY	Reference Benchmark TRY	18.585%	20230921
ZAR	Reference Benchmark ZAR	8.378%	20230921
Prior Period Benchmark Rates

IBKR accrues interest on a daily basis and posts actual interest monthly on the third business day of the following month. For detailed examples on how we calculate interest, open the Interest Paid to You and Interest Rates Charged to You on Margin Loan Balances sections on this page.

Interest Paid on Idle Cash Balances

Client accounts are eligible to receive credit interest on long settled cash balances in their securities accounts.

Accounts with a Net Asset Value (NAV) of USD 100,000 (or equivalent) or more are paid interest at the full rate for which they are eligible. Accounts with NAV of less than USD 100,000 (or equivalent) receive interest at rates proportional to the size of the account. For example, an account with a NAV of USD 50,000 earns credit interest at a rate equal to one-half the rate paid by IBKR to accounts with a NAV of USD 100,000 or more.

Interest accrues and is payable on a daily basis. IBKR posts the interest payments on a monthly basis on the third business day of the following month.

IBKR uses a blended rate based on the tiers outlined in the table below. The tiers on which interest rates are based are subject to change without prior notification.

For balances held in CHF, DKK, EUR, JPY or SEK, IBKR currently applies an effective negative rate to long balances held. The negative rate applied to accounts holding these currencies is the same regardless of account size. For other currencies in which the benchmark rate plus the interest rate paid is less than zero, the interest paid is 0%.

Higher Interest Rates for Large Cash Balances

We pay interest to clients for credit balances, based upon rates available in the interbank deposit market. For those clients that hold large cash balances in multiple currencies, we offer the ability to take advantage of the Forex Swaps market to potentially earn higher rates. This program is not designed for and would not benefit any client who holds a single-currency long balance. The mechanics behind this program involve the buying of a currency for settlement one day out and the selling of the same currency two days out, the difference in value between the two settlement dates being the interest earned. We automatically keep rolling the swaps until you no longer meet the minimum balance criteria, or you instruct us to halt the program. You must have at least USD $10 million in cash, and US residents must be Eligible Contract Participants (ECP) to enroll in the program.

For more information please contact our swaps desk at FXSwaps@IBKR.com or refer to our Knowledge Base.

Interest Paid to You on Positive (Credit) Cash Balances View Examples

Cash Balance Net Asset Value

Pricing Plan:

IBKR Pro IBKR Lite Calculate Blended Rate

Compare - IBKR Pro vs IBKR Lite

BM = Benchmark Rate

Currency	Tier	Rate Paid: IBKR Pro	Rate Paid: IBKR Lite
USD	0 ≤ 10,000	0%	0%
	> 10,000	4.830% (BM - 0.5%)	3.830% (BM - 1.5%)
AUD	0 ≤ 14,000	0%	0%
	14,000 ≤ 140,000	3.654% (BM - 0.5%)	2.654% (BM - 1.5%)
	> 140,000	3.904% (BM - 0.25%)	2.654% (BM - 1.5%)
CAD	0 ≤ 14,000	0%	0%
	> 14,000	4.411% (BM - 0.5%)	3.411% (BM - 1.5%)
CHF	0 ≤ 100,000	0%	0%
	> 100,000	1.200% (BM - 0.25%)	0.200% (BM - 1.25%)
CNH	All	0%	0%
CZK	0 ≤ 2,500,000	0%	0%
	> 2,500,000	6.600% (BM - 0.25%)	5.600% (BM - 1.25%)
DKK	0 ≤ 700,000	0%	0%
	> 700,000	3.206% (BM - 0.25%)	2.206% (BM - 1.25%)
EUR	0 ≤ 100,000	0%	0%
	> 100,000	3.620% (BM - 0.25%)	2.620% (BM - 1.25%)
GBP	0 ≤ 8,000	0%	0%
	> 8,000	4.832% (BM - 0.5%)	3.832% (BM - 1.5%)
HKD	0 ≤ 78,000	0%	0%
	> 78,000	4.464% (BM - 0.75%)	3.464% (BM - 1.75%)
HUF	0 ≤ 2,800,000	0%	0%
	> 2,800,000	10.521% (BM - 3%)	9.521% (BM - 4%)
ILS	All	0%	0%
INR	All	0%	0%
JPY	0 ≤ 11,000,000	0%	0%
	> 11,000,000	-0.721% (BM - 0.25%)	-1.721% (BM - 1.25%)
KRW	0 ≤ 12,000,000	0%	0%
	> 12,000,000	2.000% (BM - 1.5%)	1.000% (BM - 2.5%)
MXN	0 ≤ 190,000	0%	0%
	> 190,000	7.261% (BM - 4%)	6.261% (BM - 5%)
NOK	0 ≤ 85,000	0%	0%
	> 85,000	1.359% (BM - 2.5%)	0.359% (BM - 3.5%)
NZD	0 ≤ 15,000	0%	0%
	> 15,000	2.980% (BM - 2.5%)	1.980% (BM - 3.5%)
PLN	0 ≤ 400,000	0%	0%
	> 400,000	3.949% (BM - 2%)	2.949% (BM - 3%)
RUB	0 ≤ 700,000	0%	0%
	> 700,000	7.450% (BM - 5%)	6.450% (BM - 6%)
SEK	0 ≤ 850,000	0%	0%
	> 850,000	3.505% (BM - 0.25%)	2.505% (BM - 1.25%)
SGD	0 ≤ 15,000	0%	0%
	> 15,000	2.776% (BM - 1%)	1.776% (BM - 2%)
TRY	0 ≤ 60,000	0%	0%
	> 60,000	5%	4%
ZAR	0 ≤ 150,000	0%	0%
	> 150,000	7.378% (BM - 1%)	6.378% (BM - 2%)

Interest Charged on Margin Loans

Interest Charged on Margin Loans View Examples

When calculating rates, keep in mind that IBKR uses a blended rate based on the tiers below. For example, for a balance over 1,000,000 USD, the first 100,000 is charged at the Tier I rate, the next 900,000 at the Tier II rate, etc. When determining the quoted spread, IBKR will use the set benchmark rate or a benchmark rate of 0 for all benchmark rates less than 0.

IBKR accrues interest on a daily basis and posts actual interest monthly on the third business day of the following month.

The tiers on which interest is based may change from time to time without prior notification to clients. Such adjustments are done periodically to adjust for changes in currency rates.

Balance

Pricing Plan:

IBKR Pro IBKR Lite Calculate Blended Rate

Compare - IBKR Pro vs IBKR Lite

BM = Benchmark Rate

Currency	Tier	Rate Charged: IBKR Pro	Rate Charged: IBKR Lite
USD	0 ≤ 100,000	6.830% (BM + 1.5%)	7.830% (BM + 2.5%)
	100,000 ≤ 1,000,000	6.330% (BM + 1%)	7.830% (BM + 2.5%)
	1,000,000 ≤ 3,000,000	5.830% (BM + 0.5%)¹	7.830% (BM + 2.5%)
	3,000,000 ≤ 200,000,000	5.630% (BM + 0.3%)¹	7.830% (BM + 2.5%)
	> 200,000,000	5.630% (BM + 0.3%)^1,2	7.830% (BM + 2.5%)
AUD	0 ≤ 140,000	5.654% (BM + 1.5%)	6.654% (BM + 2.5%)
	140,000 ≤ 1,400,000	5.154% (BM + 1%)	6.654% (BM + 2.5%)
	1,400,000 ≤ 140,000,000	4.654% (BM + 0.5%)	6.654% (BM + 2.5%)
	> 140,000,000	4.654% (BM + 0.5%)²	6.654% (BM + 2.5%)
CAD	0 ≤ 140,000	6.411% (BM + 1.5%)	7.411% (BM + 2.5%)
	140,000 ≤ 1,400,000	5.911% (BM + 1%)	7.411% (BM + 2.5%)
	1,400,000 ≤ 140,000,000	5.411% (BM + 0.5%)	7.411% (BM + 2.5%)
	> 140,000,000	5.411% (BM + 0.5%)²	7.411% (BM + 2.5%)
CHF	0 ≤ 100,000	2.950% (BM + 1.5%)	3.950% (BM + 2.5%)
	100,000 ≤ 1,000,000	2.450% (BM + 1%)	3.950% (BM + 2.5%)
	1,000,000 ≤ 200,000,000	1.950% (BM + 0.5%)	3.950% (BM + 2.5%)
	> 200,000,000	1.950% (BM + 0.5%)²	3.950% (BM + 2.5%)
CNH	0 ≤ 625,000	8.276% (BM + 5%)	9.276% (BM + 6%)
	625,000 ≤ 6,250,000	8.276% (BM + 5%)	9.276% (BM + 6%)
	6,250,000 ≤ 125,000,000	8.276% (BM + 5%)	9.276% (BM + 6%)
	> 125,000,000	8.276% (BM + 5%)²	9.276% (BM + 6%)
CZK	0 ≤ 400,000,000	9.850% (BM + 3%)	10.850% (BM + 4%)
	> 400,000,000	9.850% (BM + 3%)²	10.850% (BM + 4%)
DKK	0 ≤ 120,000,000	6.456% (BM + 3%)	7.456% (BM + 4%)
	> 120,000,000	6.456% (BM + 3%)²	7.456% (BM + 4%)
EUR	0 ≤ 100,000	5.370% (BM + 1.5%)	6.370% (BM + 2.5%)
	100,000 ≤ 1,000,000	4.870% (BM + 1%)	6.370% (BM + 2.5%)
	1,000,000 ≤ 150,000,000	4.370% (BM + 0.5%)	6.370% (BM + 2.5%)
	> 150,000,000	4.370% (BM + 0.5%)²	6.370% (BM + 2.5%)
GBP	0 ≤ 80,000	6.832% (BM + 1.5%)	7.832% (BM + 2.5%)
	80,000 ≤ 800,000	6.332% (BM + 1%)	7.832% (BM + 2.5%)
	800,000 ≤ 160,000,000	5.832% (BM + 0.5%)	7.832% (BM + 2.5%)
	> 160,000,000	5.832% (BM + 0.5%)²	7.832% (BM + 2.5%)
HKD	0 ≤ 780,000	7.714% (BM + 2.5%)	8.714% (BM + 3.5%)
	780,000 ≤ 7,800,000	7.214% (BM + 2%)	8.714% (BM + 3.5%)
	7,800,000 ≤ 780,000,000	6.714% (BM + 1.5%)	8.714% (BM + 3.5%)
	> 780,000,000	6.714% (BM + 1.5%)²	8.714% (BM + 3.5%)
HUF	0 ≤ 4,500,000,000	18.521% (BM + 5%)	19.521% (BM + 6%)
	> 4,500,000,000	18.521% (BM + 5%)²	19.521% (BM + 6%)
ILS	0 ≤ 80,000,000	8.841% (BM + 5%)	9.841% (BM + 6%)
	> 80,000,000	8.841% (BM + 5%)²	9.841% (BM + 6%)
INR	All	12.700% (BM + 3%)	13.700% (BM + 4%)
JPY	0 ≤ 11,000,000	1.500% (BM + 1.5%)	2.500% (BM + 2.5%)
	11,000,000 ≤ 110,000,000	1.000% (BM + 1%)	2.500% (BM + 2.5%)
	110,000,000 ≤ 20,000,000,000	0.500% (BM + 0.5%)	2.500% (BM + 2.5%)
	> 20,000,000,000	0.500% (BM + 0.5%)²	2.500% (BM + 2.5%)
KRW	0 ≤ 120,000,000	5.500% (BM + 2%)	6.500% (BM + 3%)
	120,000,000 ≤ 1,200,000,000	5.000% (BM + 1.5%)	6.500% (BM + 3%)
	1,200,000,000 ≤ 24,000,000,000	4.500% (BM + 1%)	6.500% (BM + 3%)
	> 24,000,000,000	4.500% (BM + 1%)²	6.500% (BM + 3%)
MXN	0 ≤ 1,900,000	14.261% (BM + 3%)	15.261% (BM + 4%)
	1,900,000 ≤ 19,000,000	13.261% (BM + 2%)	15.261% (BM + 4%)
	19,000,000 ≤ 1,900,000,000	12.761% (BM + 1.5%)	15.261% (BM + 4%)
	> 1,900,000,000	12.761% (BM + 1.5%)²	15.261% (BM + 4%)
NOK	0 ≤ 850,000	5.359% (BM + 1.5%)	6.359% (BM + 2.5%)
	850,000 ≤ 8,500,000	4.859% (BM + 1%)	6.359% (BM + 2.5%)
	8,500,000 ≤ 850,000,000	4.359% (BM + 0.5%)	6.359% (BM + 2.5%)
	> 850,000,000	4.359% (BM + 0.5%)²	6.359% (BM + 2.5%)
NZD	0 ≤ 150,000	6.980% (BM + 1.5%)	7.980% (BM + 2.5%)
	150,000 ≤ 1,500,000	6.480% (BM + 1%)	7.980% (BM + 2.5%)
	1,500,000 ≤ 150,000,000	6.230% (BM + 0.75%)	7.980% (BM + 2.5%)
	> 150,000,000	6.230% (BM + 0.75%)²	7.980% (BM + 2.5%)
PLN	0 ≤ 70,000,000	8.949% (BM + 3%)	9.949% (BM + 4%)
	> 70,000,000	9.949% (BM + 4%)²	9.949% (BM + 4%)
RUB	0 ≤ 660,000,000	17.450% (BM + 5%)	18.450% (BM + 6%)
	> 660,000,000	17.450% (BM + 5%)²	18.450% (BM + 6%)
SEK	0 ≤ 850,000	5.255% (BM + 1.5%)	6.255% (BM + 2.5%)
	850,000 ≤ 8,500,000	4.755% (BM + 1%)	6.255% (BM + 2.5%)
	8,500,000 ≤ 850,000,000	4.255% (BM + 0.5%)	6.255% (BM + 2.5%)
	> 850,000,000	4.255% (BM + 0.5%)²	6.255% (BM + 2.5%)
SGD	0 ≤ 150,000	5.276% (BM + 1.5%)	6.276% (BM + 2.5%)
	150,000 ≤ 1,500,000	4.776% (BM + 1%)	6.276% (BM + 2.5%)
	1,500,000 ≤ 150,000,000	4.276% (BM + 0.5%)	6.276% (BM + 2.5%)
	> 150,000,000	4.276% (BM + 0.5%)²	6.276% (BM + 2.5%)
TRY	0 ≤ 60,000,000	23.585% (BM + 5%)	24.585% (BM + 6%)
	> 60,000,000	23.585% (BM + 5%)²	24.585% (BM + 6%)
ZAR	0 ≤ 1,500,000	9.878% (BM + 1.5%)	10.878% (BM + 2.5%)
	1,500,000 ≤ 15,000,000	9.378% (BM + 1%)	10.878% (BM + 2.5%)
	15,000,000 ≤ 1,500,000,000	9.128% (BM + 0.75%)	10.878% (BM + 2.5%)
	> 1,500,000,000	9.128% (BM + 0.75%)²	10.878% (BM + 2.5%)

A minimum floor of 0.75% will be charged on all USD margin loans. Rates subject to change.
May be subject to a 1% surcharge applied to the spread if financing is not pre-arranged.

Disclosures

Credit balances greater than USD 10,000 (or equivalent) in accounts with a NAV of less than USD 100,000 (or equivalent) will be paid interest at a proportional rate. For accounts holding credit balances in currencies carrying a negative interest rate, the negative rate will be applied to accounts with balances of at least USD 100,000 (or equivalent), but smaller credit balances will not be charged the negative rate.

Which Plan is Best for You?

Features	IBKR Lite	IBKR Pro
Commissions:
US Exchange-Listed Stocks / ETFs	Commission-free^{1, 12}	Fixed or Tiered Pricing
Other Stocks / ETFs	Fixed Pricing	Fixed or Tiered Pricing
Options	Fixed Pricing²	Fixed or Tiered Pricing
Futures	Fixed Pricing	Fixed or Tiered Pricing
Currencies	Tiered Pricing	Tiered Pricing
Bonds	Tiered Pricing	Tiered Pricing
Mutual Funds	Fixed Pricing	Fixed or Tiered Pricing
Account Fees:
Minimum Balance	USD 0	USD 0
Maintenance Fee	USD 0	USD 0
Interest Paid on Instantly Available Cash Balances³	Benchmark minus 1.5%	Benchmark minus 0.5%
Interest Charged for Margin Loan	Benchmark plus 2.5%	Begins at Benchmark plus 1.5%, with lower rates for higher loan values.⁴
Eligible Accounts:
US Retail Investors⁵
Institutional Accounts⁶
Advisors^7,8
Brokers^9,10
Account Features:
Stock Yield Enhancement Program
FDIC Promontory Program
Market Data - US Listed Stock/ETFs	Complimentary non-consolidated, real time streaming data* for primary exchanges for US Equities and ETFs.	Complimentary non-consolidated, real time streaming data* for primary exchanges for US Equities and ETFs.
Market Data - Other Products	Low-cost data bundles and a la carte subscriptions available.	Low-cost data bundles and a la carte subscriptions available.
Outside Regular Trading Hours¹¹	07:00 - 20:00	04:00 - 20:00
Trading Technology:
Client Portal
IBKR Mobile
IBot
Trader Workstation (TWS)	**
IBKR APIs
Algos	^†
Condition Orders & Advanced Order Types
Paper Trading
Mutual Fund / ETF Replicator
Risk Navigator^SM

= Included

IBKR Lite is meant for retail investors, including financial advisors trading on behalf of their retail clients. IBKR reserves the right to reject any IBKR Lite order or series of orders if IBKR determines the order(s) appear to show non-retail trading behavior. At the time an order is rejected, the client will be automatically presented the option to resubmit the rejected order on a Fixed commission basis.
Where available in North America.
Accounts with a NAV of less than USD 100,000 (or equivalent) will be paid at a rate proportional to accounts with a NAV of USD 100,000 (or equivalent) or more. The proportion is determined by the ratio of the account's NAV to USD 100,000 (or equivalent). This does not apply to currencies with negative interest rates, where the negative rate applied will be the same regardless of account size. See our Interest Rates for details.
See our Margin Rates for details.
US Retail Investors includes individuals, joint, UGMA/UTMA, retirement and trust accounts.
1. Standalone trust accounts with legal entity trustees are not eligible for IBKR Lite
Institutional Accounts are defined as any hedge funds, proprietary trading group or organizational type accounts
Advisors include all registered financial advisors and non-registered financial advisors.
To be eligible for IBKR Lite, advisors must be US domiciled and must have:
1. Less than 15% of client accounts outside the US
2. Less than 15% of client equity outside the US
3. Less than 15% of client accounts as organization accounts
4. No client accounts from Israel
5. No partitioned client accounts
6. No Separate Trading Limits (Proprietary Trading) accounts
Brokers require special approval from IBKR before opening an IBKR Lite account. Brokers cannot have both IBKR Lite and IBKR Pro clients under the same account structure. Separate accounts structures are required to facilitate.
Brokers on the IBKR Lite plan cannot support the follow ing type of client sub accounts:
1. Israel is the country of legal residence of the account holder
2. Partitioned client accounts
3. Three-tier hierarchies (no advisor or STL proprietary trading accounts)
4. OMS clients
Regular trading hours for IBKR Lite and IBKR Pro are 09:30 – 16:00. Market orders placed prior to regular trading hours will be treated as MarketOnOpen orders and count towards client threshold.
At the end of each month, IBKR will review the total monthly trading volume of US listed stock orders. If the combined volume of OnClose, OnOpen, Outside Regular Trading Hours ("Outside RTH") or sub-USD 1.00 NMS exceeds 10% of an account's monthly US stock trading volume, a commission of the lesser of USD 0.005 per share or 1% of trade value will be charged.

* Excludes pink sheet data.
**Trader Workstation (TWS) is not available to Brokers' clients enrolled in IBKR Lite.
† Fees may apply.

We understand your investment needs change over time. You can switch between the IBKR Lite and IBKR Pro plan at any time. Your first three reclassifications are processed on a daily basis while subsequent reclassifications happen on a quarterly basis.

Interest and Financing

Interest Schedule

Reference Benchmark Rates

Reference Benchmark Rates

Interest Paid on Idle Cash Balances

Interest Paid on Idle Cash Balances

Higher Interest Rates for Large Cash Balances

Interest Paid to You on Positive (Credit) Cash Balances View Examples

Cash Balance Net Asset Value

Pricing Plan:

Your Net Asset Value in USD

Your NAV Adjusted blended rate for

BM = Benchmark Rate

Interest Charged on Margin Loans

Interest Charged on Margin Loans View Examples

Balance

Pricing Plan:

Your blended rate for

=

BM = Benchmark Rate

Disclosures

Interest and Financing

Interest Schedule

Reference Benchmark Rates

Reference Benchmark Rates

Interest Paid on Idle Cash Balances

Interest Paid on Idle Cash Balances

Higher Interest Rates for Large Cash Balances

Interest Paid to You on Positive (Credit) Cash Balances View Examples

Cash Balance USD AUD CAD CHF CNH CZK DKK EUR GBP HKD HUF ILS INR JPY KRW MXN NOK NZD PLN RUB SEK SGD ZAR Net Asset Value

Pricing Plan:

Your Net Asset Value in USD

Your NAV Adjusted blended rate for

BM = Benchmark Rate

Interest Charged on Margin Loans

Interest Charged on Margin Loans View Examples

Balance

Pricing Plan:

Your blended rate for

=

BM = Benchmark Rate

Disclosures

Cash Balance Net Asset Value