Interactive Brokers

This is a discussion on Interactive Brokers within the Brokerages forums, part of the Commercial category; Originally Posted by karl6666 Hi I have got my IB account up and running, also a paper account until I ...

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Old May 26, 2009, 7:20pm   #1337
 
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Quote:
Originally Posted by karl6666 View Post
Hi

I have got my IB account up and running, also a paper account until I find my way around. My problem the trading station seems ultra complicated.

I will be only trading FX. An order ticket and real basic stuff. Does anybody own a 'muppets guide' or is it a matter of memorizing the tutorials ( although a lot of it is not FX based ) Im only familiar with the simple MM websites

Thanks in advance

Karl
Have you looked at the IB pre-recorded webinars ?

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

There are some that deal with the FX trader (90 minutes of it) and also some industry ones that they have on their site dealing with FX trading in general

Charlton
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Old May 27, 2009, 12:04am   #1338
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If you are only trading forex then try using FX Trader as this makes things quite simple.


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Old May 27, 2009, 6:51am   #1339
 
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Originally Posted by Trader333 View Post
If you are only trading forex then try using FX Trader as this makes things quite simple.


Paul

Thanks folks, ille get my thinking cap on this morning

Karl
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Old May 29, 2009, 7:59am   #1340
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From http://www.trade2win.com/boards/newr...reply&p=780806

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Originally Posted by mac! View Post
Is IB ever going to be able to offer brokerage services within a SIPP account? this thread started in 2005 and since then they are claiming they are investigating and seriously considering opening such a structure. Notwithstanding what seems an overwhelming majority of people willing to sign up they still have not managed to get a SIPP service going.

Does anyone know whether there is hope for them to offer such a service? I can understand there is a lot of investigation to do but 4 years seems like they have no interest in offering a SIPP service...

Any guidance on this woudl be greatly appreciated.
Also, if anyone else has found I solutions for this, pls let me know: basically, I would like to trade stock and index options via a SIPP account. Is there any SIPP-linked brokerage firm that offers this (at competitive rates)?

Many thanks
Mac!
Take whatever IB say about setting up a SIPP structure with a pinch of salt otherwise you could end up being disappointed and out of pocket from an opportunity cost point of view. Please see post number 1261 on this thread and follow the time line of my dialogue. I suspect the real reason for them not being SIPP friendly is probably because it concerns something which they do not want to disclose to the public. As the depression deepens and brokerages are losing turnover and jobs I suspect they will become much more accomodative.

A good place to look for a SIPP friendly broker is the list of companies who partner SIPP administrator European Pensions Management. https://www.epml.co.uk/trading-links/investment-links/ You will see there are many UK brokers who I suspect do not enjoy the same benefits of economies of scale of that of a large broker like IB do but still find SIPPs commercially viable. You may wish to begin your research with GNItouch, M F Global, Moneycorp and Sucdens. I believe they offer the type of service you require, GHI is a subsidiary of MF global so there may not be a lot of difference in their offerings. These brokers are more expensive than IB but in this case I believe the old saying "you only get what you pay for" maybe very relevant here.

Good luck with your search and please let us know how you get on.

Last edited by goodtyneguy; May 29, 2009 at 8:47am. Reason: typo
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Old Jun 2, 2009, 12:55pm   #1341
 
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A tech question for IB.

Once upon a time our TWS connected to our home server (HK in my case) and from the home server to the other server farms. Now, our TWS's connect directly to the data farms that we are getting data from - so I typically have connections to HK, to the US for forex and to the US for globex data.

Is it only data that comes direct or do our orders go direct. Put another way, are our orders routed through our home servers or do they go direct to the one closest to the exchange?
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Old Jun 2, 2009, 12:57pm   #1342
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Can anyone tell me how much the data feed is for the FTSE future (LIFFE) with Interactive Brokers? Also, what is the approx round turn commission? I just can't get a straight answer from them direct, I have spoken to about 5 different reps each giving me conflicting prices and information. cheers.
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Old Jun 2, 2009, 4:10pm   #1343
 
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I pay the data feed but can't remember and would have to login to find out. I'll tell you later next time I'm on my account management webpage. It's not a lot.

Commission is £3.40 round-turn.
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Old Jun 2, 2009, 4:46pm   #1344
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Cheers ahardy, please do let me know the data fee when you get a chance, regards
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