Interactive Brokers

This is a discussion on Interactive Brokers within the Brokerages forums, part of the Commercial category; Originally Posted by cabum Hi all! Where can I find info concerning opening an account with IB and money funding? ...

Reply
 
LinkBack Thread Tools Search this Thread
Old Dec 8, 2006, 10:46pm   #465
 
peto's Avatar
Joined Dec 2002
Quote:
Originally Posted by cabum
Hi all!

Where can I find info concerning opening an account with IB and money funding? Info on the site is not really informative.

Thanks
http://www.interactivebrokers.com/en...p?ib_entity=uk
Press 'Start an account" and you get guided through the process. For margin accounts you need to do a sort of on-line exam to prove you know what you are doing and that you understand that whatever goes wrong with your trades it is all your problem not theirs! I think you can keep taking it until you pass.
You need $5000 min to open. If you have internet banking the easiest way to fund your a/c is to set it up with IB as one of your payees, then transfers are free. Don't forget to notify IB that a transfer is on its way through their 'account management' login. Takes 3 or 4 days this way. Can do it in 1 day if you ask your bank but they charge you around £30, from memory.
peto is offline   Reply With Quote
Old Dec 9, 2006, 12:14am   #466
 
Charlton's Avatar
Joined Nov 2003
Quote:
Originally Posted by cabum
Hi all!

Where can I find info concerning opening an account with IB and money funding? Info on the site is not really informative.

Thanks
Like other things in trading you need to work at it. Admittedly there are other broker sites where their trading platforms are a lot easier, but equally they are more restricted. Life, including trading life, teaches you that you have to gain experience and the more you are exposed to soemthing the more you learn about it and the less you fear it.

IB, compare to other brokers, is not easy. I would recommend that you paper trade through their simulated trading account for a while. Try different scenarios and you will soon learn which order types, setups and so on support your trading strategy.

IB has loads of learning material and webinars to start you off, but is is handy to try things out for yourself.

If this is too onerous for you then that is the time to rethink things

Treat this as a business and not an easy option

Charlton
__________________
Onwards and Upwards
Charlton is offline   Reply With Quote
Old Dec 9, 2006, 1:31am   #467
Joined Dec 2006
Quote:
Originally Posted by Charlton
Like other things in trading you need to work at it. Admittedly there are other broker sites where their trading platforms are a lot easier, but equally they are more restricted. Life, including trading life, teaches you that you have to gain experience and the more you are exposed to soemthing the more you learn about it and the less you fear it.

IB, compare to other brokers, is not easy. I would recommend that you paper trade through their simulated trading account for a while. Try different scenarios and you will soon learn which order types, setups and so on support your trading strategy.

IB has loads of learning material and webinars to start you off, but is is handy to try things out for yourself.

If this is too onerous for you then that is the time to rethink things

Treat this as a business and not an easy option

Charlton
Good words. To be clear I'm really ready to work and have been from the beginning. Actually I've been papertrading with Thinkorswim for almost 6 months, but their comis rate is too high as for me and I switched to IB during the last month. And only now starting to get used to their platform (TOS platform is much easier to use). It seems to me IB can work good for me also. Of course I need to check it first and I'm papertrading with it right now. Can I ask you whether you are trading and what if answer is yes? I'd like to ask you a couple questions concerning IB, can I PM you?
My question I think is about money schemes in general and maybe I need to ask it somewhere else, but now I'm considering IB as my future broker so it would be great if IB's representative could give some info.
Thanks
cabum is offline   Reply With Quote
Old Dec 9, 2006, 1:34am   #468
Joined Dec 2006
Quote:
Originally Posted by peto
http://www.interactivebrokers.com/en...p?ib_entity=uk
Press 'Start an account" and you get guided through the process. For margin accounts you need to do a sort of on-line exam to prove you know what you are doing and that you understand that whatever goes wrong with your trades it is all your problem not theirs! I think you can keep taking it until you pass.
You need $5000 min to open. If you have internet banking the easiest way to fund your a/c is to set it up with IB as one of your payees, then transfers are free. Don't forget to notify IB that a transfer is on its way through their 'account management' login. Takes 3 or 4 days this way. Can do it in 1 day if you ask your bank but they charge you around £30, from memory.
Thanks Peto,

Step by step I will get it!
cabum is offline   Reply With Quote
Old Dec 9, 2006, 9:32am   #469
 
Charlton's Avatar
Joined Nov 2003
Quote:
Originally Posted by cabum
Good words. To be clear I'm really ready to work and have been from the beginning. Actually I've been papertrading with Thinkorswim for almost 6 months, but their comis rate is too high as for me and I switched to IB during the last month. And only now starting to get used to their platform (TOS platform is much easier to use). It seems to me IB can work good for me also. Of course I need to check it first and I'm papertrading with it right now. Can I ask you whether you are trading and what if answer is yes? I'd like to ask you a couple questions concerning IB, can I PM you?
My question I think is about money schemes in general and maybe I need to ask it somewhere else, but now I'm considering IB as my future broker so it would be great if IB's representative could give some info.
Thanks
Caburn

Let me make it absolutely clear. I am not IB's representative. I have no connection with IB whatsoever, other than the fact that I have an account with them and use TWS.

You should direct your questions to IB on this forum or via your account management function within their website.

Charlton
__________________
Onwards and Upwards
Charlton is offline   Reply With Quote
Old Dec 9, 2006, 5:22pm   #470
Joined Jan 2006
Quote:
Originally Posted by cabum
Good words. To be clear I'm really ready to work and have been from the beginning. Actually I've been papertrading with Thinkorswim for almost 6 months, but their comis rate is too high as for me and I switched to IB during the last month. And only now starting to get used to their platform (TOS platform is much easier to use). It seems to me IB can work good for me also. Of course I need to check it first and I'm papertrading with it right now. Can I ask you whether you are trading and what if answer is yes? I'd like to ask you a couple questions concerning IB, can I PM you?
My question I think is about money schemes in general and maybe I need to ask it somewhere else, but now I'm considering IB as my future broker so it would be great if IB's representative could give some info.
Thanks

Dear Prospect

If you require additional information or would like to a web demonstration of our system do not hesitate to contact our London office 020 7 776 7800 ext 1

Alternatively you can send an e-mail (internally) with your details through Trade2Win with your contact details and our representative will contact you.

Thank you and we look forward to hearing from you.
__________________
Sincerely
Interactive Brokers
Interactive Brokers is offline Broker   Reply With Quote
Old Dec 10, 2006, 2:23pm   #471
Joined Dec 2006
Quote:
Originally Posted by Interactive Brokers
Dear Prospect

If you require additional information or would like to a web demonstration of our system do not hesitate to contact our London office 020 7 776 7800 ext 1

Alternatively you can send an e-mail (internally) with your details through Trade2Win with your contact details and our representative will contact you.

Thank you and we look forward to hearing from you.
Thanks.
Could you please tell whether IB has some kind of "blacklist" of countries accounts from which you can't have deal with (like maybe some offshores whatever)? Like for example, Grenada or the Seychelles? Is it possible to find this out somehow? I'm not a resident of the US or UK.
cabum is offline   Reply With Quote
Old Dec 11, 2006, 7:12pm   #472
Joined Dec 2006
On "Trading permissions" I've found the next:
"No shorting of stock and trading is only allowed for products denominated in the base currency of the account."
What does it mean? Does it mean that I can't short stocks?
Thanks
cabum is offline   Reply With Quote
Reply

Thread Tools Search this Thread
Search this Thread:

Advanced Search

Similar Threads
Thread Thread Starter Forum Replies Last Post
Interactive Brokers FTSE Beater Brokerages 3 Nov 6, 2009 3:17pm
Interactive brokers kevo21 Brokerages 14 Jan 27, 2006 5:21pm
Interactive Brokers- £ or $ oriana Brokerages 3 Mar 4, 2005 8:37pm
is interactive brokers well known? tonyjai Stocks 5 Feb 14, 2005 1:32pm

Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)