Interactive Brokers

This is a discussion on Interactive Brokers within the Brokerages forums, part of the Commercial category; http://www.interactivebrokers.com/en...?ib_entity=llc FTSE100 round turn is GBP 3.40 all included. Unbundled commissions could save you more if you do not keep ...

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Old Feb 28, 2007, 8:06pm   #569
Joined Dec 2003
http://www.interactivebrokers.com/en...?ib_entity=llc
FTSE100 round turn is GBP 3.40 all included. Unbundled commissions could save you more if you do not keep overnight.
http://www.interactivebrokers.com/en...ity=llc#global
Data fee is EUR 30.00 (Level I) or EUR 36.00 (Level ||) a month.

Last edited by idetkov; Feb 28, 2007 at 8:13pm.
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Old Mar 1, 2007, 11:39am   #570
Joined Apr 2004
Thanks idetkov

So if I'm looking to be flat at the end of the day I'm probably best being unbundled?

I am looking for each FTSE Fut. (0.28 Ex fees + 0.55 IB comm + 0.2 clearing = £1.03 each way or £2.06 for a round turn versus £3.40 bundled?

That diff seems to large I must have missed something off.

Also any idea which I need to subscribe to, the page you linked too is different to the options I have actually in my account page.

I don't have the indices mentioned at all in the options in my account, only commodities and interest rates or do the index futures get bundled in with the equity derivatives?

It's so hard to get your head round. I can see why so many people don't make the jump to direct access it is confusing compared to how easy spread bet and CFD companies make it for you.

Any guidance from anyone (particularly someone at IB looking at this would be great)

Thanks

Stephen McCreedy
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Old Mar 3, 2007, 6:02pm   #571
Joined Nov 2003
noob question >:)

Hi everyone,
Been trying to learn using the demo account, but still find it a little difficult. So I would like to setup some hotkeys to my life a little more comfy. Would someone be able to walk me though the process of setting up some hotkeys that achieve the following:

1). Place a buy or sell order for 1 contract, with an S/L of 12 pips, a T/P of 50 pips and a trailing S/L of 8 pips.
2). Ability to scale in or out 1 contract.
3). If the trade starts go to against me, a ‘panic’ hotkey, that will close the position sharp.

I hope the above is possible, and thanks in advance for any help.

Thanks
-A8
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Old Mar 17, 2007, 2:08pm   #572
Joined Jan 2006
Dear Client

Please refer to the following link for more details on how to configure Hot Keys

http://www.interactivebrokers.com/ph...lp/webhelp.htm


Quote:
Originally Posted by Altern8
Hi everyone,
Been trying to learn using the demo account, but still find it a little difficult. So I would like to setup some hotkeys to my life a little more comfy. Would someone be able to walk me though the process of setting up some hotkeys that achieve the following:

1). Place a buy or sell order for 1 contract, with an S/L of 12 pips, a T/P of 50 pips and a trailing S/L of 8 pips.
2). Ability to scale in or out 1 contract.
3). If the trade starts go to against me, a ‘panic’ hotkey, that will close the position sharp.

I hope the above is possible, and thanks in advance for any help.

Thanks
-A8
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Old Mar 17, 2007, 2:14pm   #573
Joined Jan 2006
Jesse

Please refer to the following link for more details about order types.

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

For your reference, we are holding a in person Workshop regarding our order types in our London office (in the City) on Wed., 25 April at 18:00 to 19:30.

For more information and an invitation send an e-mail to mrapo@interactivebrokers.com




Quote:
Originally Posted by JesseLivermoreII
Am having trouble getting the hang of the different order types available through TWS. Can one of you experienced guys help me out here.

I've moved from spreadbetting to US stocks with IB and simply want to place a sell or buy order and have an automatic stop loss at about a dollar away. I understand i can use a market or limit order for the initial trade, but once this is placed how do i go about adding my stop loss price ?

I have been using the paper trader but find it very complicated indeed. I couldn't find the P&L column for my open trades...is there a reason for this?

I would use the webtrader, but want to get used to the order types. Pity there is no paperwebtrader!

Cheers in advance for your help guys, really appreciate it....

Jesse
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Old Mar 17, 2007, 2:39pm   #574
Joined Jan 2006
Here are the facts if you trade directly on Euronext LIFFE and trade the FTSE future through IB

USD 5,000 minimum initial deposit.
USD 10 minimum brokerage fee
Market data varies per exchange

GBP 1.70 per side, FTSE future brokerage fee (= GBP 3.40 roundtrip) ALL IN
Nil = To use over 40 order types
Nil = To use Chart Trader, Spread Trader, Book Trader, Vol Trader, Alerts, Market Scanner, and any of the our other features our Trader Workstation supports.
Nil = To view our webinars or attend our Workshops in London
Nil = Software upgrades
The products you trade are completely regulated.
We offer up to USD30 million in account protection.
GBP 1,138 Inner Day Margin
GBP 910 Maint., Margin

Winner of Trade2Win members poll in the following categories

- Gold for "Best Futures Broker".
- Gold (1st prize) for "Best professional Trading Platform".
- Gold for "Best Software for Options Traders".
- Gold for "Best Portfolio Managment Software".
- Gold for "Best Stockbroker".
- Gold for "Best Direct Access Broker".
- Gold for "Best Options Broker".


IB only offers direct market access, i.e., you trade as if you were a professional member at the exchange; We do not get in the middle of your spread.

Hence,

- FTSE future, unit of trading Contract Valued at £10 per index point (e.g. value £65,000 at 6500.0)
- FTSE future, minimum price movement (tick size and value) 0.5 (£5.00)
- Average spread on the FTSE future .5 to 1 tick wide.

IB Commissions to trade FTSE 100 future:

- £1.70 per side (£3.40 roundtrip); This includes, brokerage, clearing, exchange, technology and regulatory fees.

If you trade and make one tick on the FTSE future:

+£5.00 Trader makes one tick (0.50 = £5.00)
Less, IB commissions £3.40 IB roundtrip commissions (£1.70 x 2)

Equals, +1.60 Net Profit when using IB i.e., if you make one PLUS tick on the FTSE future.

We always suggest to prospects to compare us and compare us again. That is, if you find a broker that offers better technology, lower transparent fees, and more account protection, we suggest you take it;Otherwise visit our website for more details www.interactivebrokers.co.uk











[QUOTE=smccreedy]Hi

I have traded CFDs with CMC since March 01 to March 06 and from then been trading with Cantor Index spreadbet.

I preferred Cantor to CMC initially as the overnight interest on longs and cash dispersion on short FTSE100 trades was getting annoying. Also being able to trade foreign markets in GBP made life easier.

Now my trading has evolved that I seem to be trading more and more often with better results, I guess I'd be described as a scalper or day trader now.

I am wondering how much people feel I might save moving to someone like Interactive Brokers.

At the moment on a daily FTSE bet I pay a £2 spread on £1pp. Am I right in thinking that one contract on Liffe is £10pp with a 0.5 spread? This is a 1/4 of Cantor's daily FTSE.

Then it will cost me £3.4 to buy and sell the futures.

This makes the cost of doing business £8.4 on a £10pp trade versus £20 with someone like Cantor.

In February I've placed around 250 trades (open and closed) and paid £1,164 in spread making around £500.

If the cost of doing business was halved I would have made £1,100 versus £500 all at £1pp (or £11,000 at £10pp / one contract).

Even taking account of Data feeds etc it must be worth me moving over?

If anyone has any suggestions let me know and if anyone can work out if from that sort of trading behaviour I should be bundled or unbundled with IB please let me know.

Thanks
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Interactive Brokers

Last edited by Interactive Brokers; Mar 17, 2007 at 9:32pm.
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Old Mar 19, 2007, 11:06am   #575
Joined Aug 2006
GBP/USD API strategy

Hi

I have developed a trading strategy for the GBP/USD and I am looking to automate it. The strategy has been written developed on the Prorealtime charting software but they do not have an API so my question is:

What is the best software combination for running an automated stragety through an API with IB? The calulations in my strategy are not complex and it runs on the one minute chart.

Many thanks

Charles
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Old Mar 19, 2007, 11:42am   #576
Joined Jan 2006
Charles

We can only provide you a link so you can view for yourself the various commercial partners that have written to our API and may meet your needs. Further our clients rank them.

http://www.interactivebrokers.com/en...1&ib_entity=uk


Quote:
Originally Posted by Crawsthorne
Hi

I have developed a trading strategy for the GBP/USD and I am looking to automate it. The strategy has been written developed on the Prorealtime charting software but they do not have an API so my question is:

What is the best software combination for running an automated stragety through an API with IB? The calulations in my strategy are not complex and it runs on the one minute chart.

Many thanks

Charles
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