Interactive Brokers

This is a discussion on Interactive Brokers within the Brokerages forums, part of the Commercial category; Dear Gentlemen Per your regards for SIPP Accounts...we would like to accomodate requests for all of our clients around the ...

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Old Feb 21, 2009, 8:25am   #1257
Joined Jan 2006
Dear Gentlemen

Per your regards for SIPP Accounts...we would like to accomodate requests for all of our clients around the world but sometimes it is not possible. With respects to SIPP, "yes" we have received requests for SIPP accounts and we are still considering it, but we need more feedback from more clients.

We encourage our customers to submit suggestions for future technology enhancements and to vote and make comments on these suggestions in our feature poll.

http://www.interactivebrokers.com/en...p?ib_entity=uk

Thank you!


Quote:
Originally Posted by goodtyneguy View Post
Hi LevII,

My optimism about this broker is rapidly turning into scepticsm, I'm hoping you can clarify my thoughts by responding to this post.

When you say you have been writing to Mr Perez for years are you saying that he has been promising such a vehicle for that length of time? I ask because I have a pension which is sitting in cash and has been for a number of months waiting for the promised SIPP structure. This is the best alternative in the restrictive scheme in which it is held, the only protective thing I have been able to do is to impliment a currency hedge outside of the fund. I'm now fed up of waiting and if this is some sort of PR fobbing off exercise by IB then please let me know as I would obviously like to get these funds working with a SIPP friendly broker and be able to inform others of the situation with IB.

ATB
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Old Feb 21, 2009, 8:27am   #1258
Joined Jan 2006
We encourage our customers to submit suggestions for future technology enhancements and to vote and make comments on these suggestions.

http://www.interactivebrokers.com/en...p?ib_entity=uk


Quote:
Originally Posted by wmbelg View Post
Interactive, why can't we trade our dur daily dairy products as butter and milk, also dry whey we can' trade.

Most of these are cash settled, why can't we trade these sweet contracts?????????

Give us our daily bread oh lord InteractiveBrokers, I mean access to these products also, and especially lumber.

SO we can hedge our future homes that we are going to build.

Be mercy InteractiveBrokers, and give us what we need.
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Old Feb 21, 2009, 8:37am   #1259
Joined Jan 2006
Garden

Here are our selling points for our IB Forex offering and etc, so you can compare (but not limited too):

-Direct access to interbank forex quotes with no hidden price spreading, no markup, no kickbacks.
-Just the combination of real time prices from 11 of the world's largest FX dealing banks plus a transparent, low commission that avoids the conflict of interest of FX platforms which deal for their own account. That is, IB does not trade against its clients.
-Market structure like an ECN: order book that allows you to set orders away from or between the markets, and trade with other IB clients as well as with the liquidity providing banks.
-Multi-instrument: you can trade forex cash (spot) side by side on the same system, even the same window, with forex futures, fx options, and other asset classes such as stocks, bonds, and futures.
-FXTrader Trading Screen: a forex centric order management platform that allows quick and easy entry of forex trades as well as other asset class trades.
-Auto-roll: automatic overnight position rolls (tom/next swaps) for large positions. There is no commission or other charge for this service. As with our spot dealing, roll prices are direct best quotes from our interbank partners.
-Over 20 unique order types available.
-Safe: Interactive Brokers Group and its sister affiliates hold over $4 billion in equity capital
-The user can improve the spread on the screen.

We are transparent about our offerings, fees, and etc. That is why we place everything (including our fees) on our website. And unlike other brokers you do not have to provide us your details or tell us how many contracts or trades you do before we quote you our commissions. Our commissions are on our screen at all times.

We hope you compare us and we wish you well with whatever broker you choose. Although we do hope we can earn your business.



Quote:
Originally Posted by Gardan View Post
Hi Chaps, I have done several searches on this thread but am struggling to find an answer, a lot of the searches go back a long time as well, so may not be so current. My question is: generally speaking how would traders compare IB costs of trading Forex (given the slippage points people have mentioned) to say, someone like Oanda (use Oanda from poll results).
I understand that my simple question might be a multi senario. I was just looking for a ball park view, if possible.
Appolgies if this is a repeat question but its a big old thread now. Maybe an idea to start a 2009 version????
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Old Feb 21, 2009, 8:48am   #1260
Joined Jan 2006
For your reference as a client when you want to deposit funds into your account you only have to go to your Account Managment Tool, under funding create a deposit notification. Afterwards, you receive a form which you can give to your bank that denotes all of our banking instructions.

We usually find with bank transfers (but not limited to) clients forget to create a deposit notification and/or do not include an account id in their wire transfer, so when we receive their funds we know where to deposit them. Unfortunately that is when the problems arise.

We hope this has been helpful.

Thank you for your patience.


Quote:
Originally Posted by Borriss View Post
I also have been trying to open Interactive account but now have waited almost three weeks to confirm about transferring money into account. I am quite concerned about customer service as have no response to several phone calls and emails..
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Old Feb 21, 2009, 6:17pm   #1261
Joined Jun 2008
Quote:
Originally Posted by goodtyneguy 15.11.08 #1172

Mr Perez or def,

1) Could you kindly provide us with a list of SIPP administrators/trustees that you work with.
Quote:
Originally Posted by Ibj 01.12.08 #1186

IB is currently designing a SIPP account structure. We are in discussions with several SIPP administrators who will manage the accounts. Until the account is available, and the negotiations have been finalized, it would be inappropriate to discuss which specific administrators will work with us.
Quote:
Originally Posted by goodtyneguy #1187

Thank you for your reply.

1) Can you give me an idea of when the SIPP account is likely to become available and is it possible to pre-register in order to be notified of this event.
Quote:
Originally Posted by Ibj 01.12.08 #1188

We are expecting SIPPs by mid Q1, but possible even by end Q4 on a limited basis.
Quote:
Originally Posted by Ibj 09.01.09 #1205

We are doing the SIPP first because we have had interest from significant SIPP providers. We are not planning to become a administrator ourselves because we try to stay close to our core expertise which is trade execution.
If we had similar interest from ISA providers, we would consider that account type as well.
Quote:
Originally Posted by goodtyneguy #1206

Thank you for your reply.

Are you still on target for the mid 1st quarter launch date for the SIPP?
Quote:
Originally Posted by Interactive Brokers 22.01.09 #1220
Thank you for your interest, but unfortunately we cannot comment to much regarding future business developments because we do not want to give to much away to our competitors.


Please stay tuned. If so, I will try to let you know once we have a definite public disclosure on the subject.
Quote:
Originally Posted by goodtyneguy 22.01.09 #1221

That's understandable, the reason I ask is that I have been patiently waiting with monies held in a protected rights pension fund which is very restrictive on investment choices. The safest choice within the scheme is their cash fund and as the base currency is in sterling I'm keen to either get it to work or position it in a stronger currency. I have the choice to move it to my exisiting SIPP where there is a little more choice but decided to wait for the IB structure.

I am concerned about the rapid decline in sterling so if you can make any comment which would be helpful please do so.
Quote:
Originally Posted by Interactive Brokers 21.02.09 #1257
Dear Gentlemen

Per your regards for SIPP Accounts...we would like to accomodate requests for all of our clients around the world but sometimes it is not possible. With respects to SIPP, "yes" we have received requests for SIPP accounts and we are still considering it, but we need more feedback from more clients.

We encourage our customers to submit suggestions for future technology enhancements and to vote and make comments on these suggestions in our feature poll.

http://www.interactivebrokers.com/en...p?ib_entity=uk

Thank you!
THIS IS DESPICABLE BEHAVIOUR, DO YOU NOT CONSIDER WHAT AFFECTS YOUR DIALOGUE MAY HAVE ON PEOPLES FUTURE PLANS?

STOCKBROKING AND OTHER PROFESSIONS (AT LEAST IN THE UK) WERE ALWAYS FOUNDED ON THE PRINCIPLE OF DICTUM MEM PACTUM - MY WORD IS MY BOND - HOW ABOUT IB?

BOTTOM LINE: I HAVE WASTED 3 MONTHS HOLDING ONE OF MY PENSION SCHEMES IN CASH AWAITING WHAT HAS BEEN CONSTRUED AS AN IMMINENT LAUNCH OF A SIPP ACCOUNT.

MY WAIT IS OVER AND WITH NO THANKS TO INTERACTIVE BROKERS!

(To the members of Trade2win: Please accept my apollogies for shouting but this type of behaviour from anyone infuriates me never mind a prima facie reputable company. Thank you for your understanding).
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Old Feb 21, 2009, 7:21pm   #1262
Joined Jan 2006
RESPECTFULLY, when we plan on future developments there are a lot of things that go into planning and development e.g., research, market conditions, regulatory requirements, operational issues, other product developments, testing, and etc.

When we have been asked to comment via email or on this board we try to exchange our opinions and answer to the best of our ability. But we are limited what we can and/or not say for various reasons.

Hence, for future developments (e.g., including SIPP accounts) we thank you that you would like to open a SIPP account with us, but we have never said we would not offer a SIPP account. We do not give exact dates rather we give estimates, for the launch of any product or business offering because we do not want clients to expect something on an exact date. Moreover, delays can occur in the development and launch of a product for various reasons.

That is, only when the product is about to be released will we give out in advance an exact date. Further for competitive reasons we do not want to give out to much information to our competitors. We believe this is market practise in the commerical world.

We are sorry that you feel offended that we still do not have a SIPP account but we never said we would not offer a SIPP account. Hence, the issue is just when. Unfortunately we cannot provide you an exact date for the reasons outlined above and we now not dare to give you an estimate now, if it offends you or causes you further inconvenience.

Sorry for any inconvenience and thank you in advance for your patience.




Quote:
Originally Posted by goodtyneguy View Post
THIS IS DESPICABLE BEHAVIOUR, DO YOU NOT CONSIDER WHAT AFFECTS YOUR DIALOGUE MAY HAVE ON PEOPLES FUTURE PLANS?

STOCKBROKING AND OTHER PROFESSIONS (AT LEAST IN THE UK) WERE ALWAYS FOUNDED ON THE PRINCIPLE OF DICTUM MEM PACTUM - MY WORD IS MY BOND - HOW ABOUT IB?

BOTTOM LINE: I HAVE WASTED 3 MONTHS HOLDING ONE OF MY PENSION SCHEMES IN CASH AWAITING WHAT HAS BEEN CONSTRUED AS AN IMMINENT LAUNCH OF A SIPP ACCOUNT.

MY WAIT IS OVER AND WITH NO THANKS TO INTERACTIVE BROKERS!

(To the members of Trade2win: Please accept my apollogies for shouting but this type of behaviour from anyone infuriates me never mind a prima facie reputable company. Thank you for your understanding).
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Interactive Brokers

Last edited by Interactive Brokers; Feb 21, 2009 at 7:45pm. Reason: typo
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Old Feb 21, 2009, 9:46pm   #1263
Joined Sep 2007
Quote:
Originally Posted by Interactive Brokers View Post
Please can you confirm if you are referring to CME Random Length Lumber Futures?

Yes I can confirm that i am referring to the CME Random Lenght Futures (and options) now available on Globex.

Spread are resonable tight (when i look at cme real time quotes) so it is tradable.
Unlike Cotton and Sugar on globex (both have large spreads), I think that traders are actually using globex too.
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Old Feb 21, 2009, 9:56pm   #1264
Joined Sep 2007
Quote:
Originally Posted by nine View Post
Not me.

Lumber is one of the plug uglys. Lovely looking trends but imagine the complaints and whinging IB will get when customers are long and they get stuck with 3 or 4 locked limit down days.

The pain of uncontrollable loss. It will happen to you.
Those who bought oil at 145$ and didn't take their losses in time, have lost also 100k$.

My account has a cash at around 35k$ . This allows me to trade almost fully covered YM, MKD, NIY completely covered.
If you stat using marging for these contracts, your cash can be wiped out as quickly as when I should trade 1 lumber.


For currency futures I sometimes go up to 100k$ contract, but i will never engage in 5 such contracts at the same time.

So a lumber at 175 to 250$ is no problem in risking margin calls or so for me.
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