Interactive Brokers

This is a discussion on Interactive Brokers within the Brokerages forums, part of the Commercial category; Originally Posted by peto No. you use your euros for margin, then when the position is closed your profit (loss) ...

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Old Aug 4, 2008, 2:57pm   #1081
 
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Originally Posted by peto View Post
No. you use your euros for margin, then when the position is closed your profit (loss) will show as a USD balance (or negative balance). Eventually you may want to convert this back to euros depending on your long term view of the future of the usd, but there is no need to do this often, once a month or two would probably suit most people since there is a small bid-ask spread (but only 1pip on Idealpro if you change >25k, perhaps as part of another trade) and fee $2.50(?) to do so.
I get it, thank you peto.

But how about this: Do they let you trade futures with minimum deposit (10000 usd), or is more required? 10k is not enough for all markets, but it should be enough for mini-corn, mini-wheat etc. I heard that somebody was turned down, because he did not have high enough "net worth."
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Old Aug 4, 2008, 4:27pm   #1082
 
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Does anyone know if Interractive offer CFDs? And are they a good provider?
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Old Aug 4, 2008, 4:45pm   #1083
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Does anyone know if Interractive offer CFDs? And are they a good provider?
They don't do CFDs right this second, but I believe they're planning on...
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Old Aug 4, 2008, 4:56pm   #1084
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Originally Posted by BalRog5 View Post
I get it, thank you peto.

But how about this: Do they let you trade futures with minimum deposit (10000 usd), or is more required? 10k is not enough for all markets, but it should be enough for mini-corn, mini-wheat etc. I heard that somebody was turned down, because he did not have high enough "net worth."
Hi,
Minimum requirements to OPEN an account are something totally different from minima to open a trade: Once your account was funded with USD 10.000 and operating, you can ride it down again (or withdraw ) to a minimum amount of (used to be) USD 100 without the account being closed.
For opening a trade the required margin must be in your account. For mini corn (YC) this 729 USD. The account should not drop below the required maintenance level of 540 USD - otherwise your position would be liquidated automatically.
For margin requirements look here:
http://individuals.interactivebroker...?ib_entity=llc

Regards
Hittfeld
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Old Aug 5, 2008, 12:31am   #1085
 
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Originally Posted by BalRog5 View Post
I get it, thank you peto.
.... I heard that somebody was turned down, because he did not have high enough "net worth."
Wot Hittfeld sed.
As regards 'net worth', they will want to be reassured that you have sufficient capital to survive if you lose your stake, and perhaps more to the point if a market collapse means they have to come after you for dosh, that you have some readies available. In reality this scenario is pretty unlikely since they will normally liquidate your positions that lack sufficient margin very quickly. Net worth is self-certified; they don't (or didn't) require any evidence.
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Old Aug 5, 2008, 1:04am   #1086
 
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Hi IBJ,

Very pleased to here about the soon to be launched SIPP product.

Can you let me know whether or not you plan to offer a Self Select ISA and a CFD Trading Account?
If you are, could you give a rough timeframe?

I have seen this request on your Features Poll ID# 1588 & 3150.

Thank you.
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Old Aug 6, 2008, 2:59pm   #1087
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Software platforms at pfsoft.com work with Interactive Brokers and others of your choice.
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Old Aug 13, 2008, 4:50am   #1088
 
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Looking at opening a Friends & Family account through IB. Does anyone have experience with this? Will be my money and one of my friend's. Plan on setting up a LLC for this.
Was wondering if anyone had comments on the functionality of the F&F as far as splitting trades into the two accounts. How easy is this? What if the accounts have different pcts of cash, how does IB split the trades? Any problems that people ran into?

Thanks in advance
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Old Aug 14, 2008, 8:14pm   #1089
 
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Hi I am interested in opening an account with IB

1) Will I be charged 6 pounds to buy and then 6 pounds to sell stocks?
2) In the US don't you give them a price per stock lower than the actual price as commision , why does that not apply with the UK since it would be ideal for a starter trader like me?
3) What monthly fees are there and other fees that are not directly your commision?
4) Does it cost to hold stocks overnight?

Thanks
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Old Aug 20, 2008, 8:12am   #1090
 
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Quote:
Originally Posted by hendrix123 View Post
Hi I am interested in opening an account with IB

1) Will I be charged 6 pounds to buy and then 6 pounds to sell stocks?
2) In the US don't you give them a price per stock lower than the actual price as commision , why does that not apply with the UK since it would be ideal for a starter trader like me?
3) What monthly fees are there and other fees that are not directly your commision?
4) Does it cost to hold stocks overnight?

Thanks
comission is based on how many shares you purchase subject to a minium, check their website. not sure what you mean in point2? monthly fees are subject to what exchanges you subscribe to for data, and it only costs to hold stocks overnight if your using leverage which will typically cost you LIBOR + 1.5%
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