Interactive Brokers

This is a discussion on Interactive Brokers within the Brokerages forums, part of the Commercial category; Thank you for your interest in Interactive Brokers. We support direct market access to over 80 exchanges and our clients ...

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Old May 9, 2009, 10:41pm   #1313
Joined Jan 2006
Thank you for your interest in Interactive Brokers.

We support direct market access to over 80 exchanges and our clients can trade multi asset classes (e.g., you can trade shares, options, futures, ETF's, bonds and forex) all from our IB Universal Account.

One of the exchanges we support is NYSE Euronext , which allows you to trade futures and options on the FTSE.

Our costs to open an account:

$10,000 initial deposit;
$10 minimum brokerage fee per month;
IB brokerage fees e.g., we ask GBP 1.70 (all in) for FTSE futures and options, per contract. And we offer a sliding scale, i.e., the more you trade the less you pay; For US shares (NASDAQ) via Smart Order Routing we ask USD 0.005 per share (all in).
Market data fees.

The IB Universal Account allows you to trade multiple products around the world from a single account. You can trade stocks, options, futures, Forex, bonds and funds all from the same Trader Workstation screen, and your transaction history and positions are all reported on a single statement.

Trading around the world can be simple, because you are not required to open accounts in multiple currencies. Deposit a single currency in an account and when you want to trade a product denominated in another currency, a loan is created which is secured by your deposited currency. If you wish to eliminate the loan, you may do so at any time by trading currencies through our IB IDEAL network or depositing money in another currency. You will find that our currency exchange rates are much better than retail banks or exchange rates offered by the credit card companies.

For each account a single base currency designation must be made that determines an account's statement and margin requirement translation currency. However, deposits and withdrawals may be made in any non-base currency in AUD, CAD, CHF, EUR, GBP, HKD, JPY, MXN, SEK or USD.

We encourage our clients to compare our company's strenghts, technology, services, low costs and benefits against other brokers. And if you find a better option then our total value then we suggest you take it; Otherwise you can open an account online via www.interactivebrokers.co.uk

Regardless which broker you choose we wish you much success with your trading.

PS: We only offer regulated CFD's on the Australian (SNFE).
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Old May 10, 2009, 8:34pm   #1314
Joined Jun 2004
Does IB offer the free version of NinjaTrader (NT Direct)? ... btw, the £1.70 mentioned isn't round turn, is it?
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Old May 10, 2009, 10:41pm   #1315
 
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Joined Jan 2004
Quote:
Originally Posted by Phil Mibbutz View Post
Does IB offer the free version of NinjaTrader (NT Direct)? ... btw, the £1.70 mentioned isn't round turn, is it?
IB provide two commision types for customers who trade futures (and possibly other instrument types too).
Bundled and Unbundled. Bundled are a simple flat fee model. Unbundled are a bit more complex but tend to be cheaper for day traders and if you do large volumes IB will give you further discounts.

If you select unbundled commisions with IB, its starts at around £2.06 per round turn for FTSE futures, otherwise its 1.70 each side if you select bundled. Depends on the contract, but some like the FTSE are much cheaper if you select unbundled and you are a day trader.

Here are the liffe exchange fees:

http://www.interactivebrokers.com/en...?ib_entity=llc

Then IB charge 75p ontop of the exchange fee if you go unbundled.
So i think FTSE is 75p+28p per side for intraday trades and 75p+28p+(7p per night) for overnight trades

So dont go unbundled if you are planning on holding trades overnight.

If you select the simple bundled commision struture then IB charge 1.70 GBP each side regardless of exchange fees and overnight holding etc

Last edited by donaldduke; May 10, 2009 at 11:10pm.
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Old May 12, 2009, 2:05pm   #1316
Joined Oct 2007
Data backfill with FTSE futures

I entered a ticket regarding this problem with IB support but I would be interested to hear from others if they're affected as well. Here's the ticket I entered.

I have a problem with data backfill for FTSE futures, symbol Z, traded on LIFFE in London. Until Friday 8th May, all worked well. When I requested backfill this Monday, all values were divided by 100. I.e. where the FTSE value should have been 4000, it was received as 40.00 . I'm using SierraChart to download the intraday data backfill via API and it's been working fine until Friday. I haven't made any changes to my SierraChart so I assume the problem might be on your side. It is fairly unpleasant because under current circumstances I have data gaps whenever your connection goes down. Could anyone, please, have a look into it? The other indexes like DAX, S&P 500, Dow Jones are not affected. Thank you.
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Old May 12, 2009, 2:31pm   #1317
Joined Jan 2006
Dear Zito

Please defer to calling our toll free helpdesk telephone number or ticket system to address your specific issue. For your reference we cannot address your specific issue because we will need to ask for specific details about your account which should not be transmitted over a public forum.


Quote:
Originally Posted by Zito View Post
Data backfill with FTSE futures

I entered a ticket regarding this problem with IB support but I would be interested to hear from others if they're affected as well. Here's the ticket I entered.

I have a problem with data backfill for FTSE futures, symbol Z, traded on LIFFE in London. Until Friday 8th May, all worked well. When I requested backfill this Monday, all values were divided by 100. I.e. where the FTSE value should have been 4000, it was received as 40.00 . I'm using SierraChart to download the intraday data backfill via API and it's been working fine until Friday. I haven't made any changes to my SierraChart so I assume the problem might be on your side. It is fairly unpleasant because under current circumstances I have data gaps whenever your connection goes down. Could anyone, please, have a look into it? The other indexes like DAX, S&P 500, Dow Jones are not affected. Thank you.
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Old May 12, 2009, 10:24pm   #1318
Joined Jun 2004
Quote:
Originally Posted by Phil Mibbutz View Post
Does IB offer the free version of NinjaTrader (NT Direct)?
Can I take that as a 'no' then, IB? If not, why?
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Old May 12, 2009, 11:44pm   #1319
Joined Jan 2006
Interactive Brokers offers a free open API, which allows third parties the ability to link to our Trader Workstation to trade.

You will have to refer to NINJA to get more information as to whether they link to our API. We are aware they have linked to our API but they have not provided us any further details.

Quote:
Originally Posted by Phil Mibbutz View Post
Can I take that as a 'no' then, IB? If not, why?
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Old May 13, 2009, 12:20am   #1320
 
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Joined Sep 2003
Ninja works with IB just fine. And the demo version is free.

Also IB have their own book trader (free), zeroline trader, bracket trader (free) and button trader.

Also a number of chart trading solutions including (superior flexibility to Ninja and more reliable unless Ray has finally got over all the old problems) Sierra Chart.

Given all those options why the heck would they pay Ninja for a branded variant?

You're just stirring Phil. Also, IB will always quote the fees one way (2x for round trip) because that is the standard for the futures industry.
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