Interactive Brokers

This is a discussion on Interactive Brokers within the Brokerages forums, part of the Commercial category; Which broker are you referring to ? Paul...

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Old Nov 7, 2009, 9:57am   #1471
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Which broker are you referring to ?


Paul
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Old Nov 7, 2009, 5:06pm   #1472
 
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I am not sure, i guess it was Stanford?
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Old Nov 9, 2009, 3:40pm   #1473
 
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I've had a look around the bewildering IB site and could not find margin requirements for trading UK stocks and therefore the gearing ratio. Neither could the IB rep when I spoke to her. Anybody any idea?

IB seem to offer CFD's on Aussie exchange. Is this right and can one deal in UK Stock CFD's?

Last edited by Benny Dorm; Nov 10, 2009 at 9:45am.
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Old Nov 12, 2009, 5:15pm   #1474
 
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Finally got the answers.
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Old Nov 13, 2009, 3:18am   #1475
 
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Quote:
Originally Posted by PipStar View Post
When will you ever offer a platform thats is easy to use? Your platform is one of the most cumbersome I have ever come across. I am trading mainly forex.
look at using book trader......
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Old Nov 13, 2009, 3:20am   #1476
 
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Quote:
Originally Posted by Jack Hughes View Post
I didn't say I couldn't work out how to place a trade with TWS, but the whole platform seems cumbersome, slow and messy. Likewise, the web site(s). Are you saying this is a good thing? And why should you have to pay extra for a third party platform when you can get something that works properly for free elsewhere?

Apart from reasonable commission rates and range of markets, what are IB's good attributes?
OMG are you that lazy you cant open FX Trader or Book trader.

I see a lot of posters who are either to dumb to to trade with IB or to damn lazy to learn how to use it.

Did you not fully understand the application form? IB make very clear about the personal requirements the like to see all new applicants have in regards to knowledge and experience.

Watch a webinar Jack, who knows you may learn something.

It took me 3 days to get on top of it. Now I live on book trader.....

IB is the best broker I have traded with

Last edited by >Apocalypto<; Nov 13, 2009 at 3:34am.
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Old Nov 13, 2009, 9:04pm   #1477
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Originally Posted by >Apocalypto< View Post

It took me 3 days to get on top of it. Now I live on book trader.....
That says it all, really.
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Old Nov 14, 2009, 10:58am   #1478
 
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Quote:
Originally Posted by Jack Hughes View Post
That says it all, really.
mate, 1 hour a day for three days yeh it was a real mission.

It's ok some platforms and systems are just above certain individuals... MT4 needs clients to
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Old Nov 19, 2009, 12:30pm   #1479
 
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Sorry if my question sounds silly but I am trying to open an IB account here for US equity trading(PDT).

My requirements are :
1> Ability to execute my trading command for US equity(PDT) .
2> I need to short equity. So I presume I need an margin account from IB.
3> I don't need IB data feed & charting package(I presume they are not free?) as I am using 3rd party data feed & charting software.
4> I understand there is a $25000 requirement for PDT, but I am based in UK, so is it better to convert my GBP into US dollar and then put the deposit or I can simply put the equivalent of GPB when I open the IB account?

My question:
What sort of IB account(s) do I need to open to meet my requirements above?

Many Thanks
Steve
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Old Nov 19, 2009, 4:04pm   #1480
 
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Time and Sales discrepancy with IB Trade

Here is record of a trade taken this morning and the time and sales from IB.

There is no record for fill of the stop in time and sales. In fact the low for the time period is 2894, 2 ticks above the stop price.

09:00:01 BUY ESTX50 1 2899
09:01:05 SELL ESTX50 1 2892

For the subseqent few minutes the price never hit 2892 and proceeded higher.
Attached Thumbnails
time-sales.avi_000001505.jpg  

Last edited by limit_777; Nov 19, 2009 at 4:33pm.
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Old Nov 20, 2009, 8:11am   #1481
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Dear Prospective Client

Thank you for your interest in Interactive Brokers.

Answers to your questions:

1. If you are going to trade US securities you should be aware of the Pattern Day Trading (PDT) rule i.e., http://www.interactivebrokers.com/en/p.php?f=margin

2. Correct.

3. Market data feeds, vary per exchange and product set. For example, for US markets (individual account holders) will have to pay $10 per month. If you execute over $30 of brokerage fees it is free.

4. You can choose any of the base currencies we support to fund your account. Refer to the following link regarding our IB Universal Account benefits
http://individuals.interactivebroker...?ib_entity=llc
Quote:
Originally Posted by TradePA View Post
Sorry if my question sounds silly but I am trying to open an IB account here for US equity trading(PDT).

My requirements are :
1> Ability to execute my trading command for US equity(PDT) .
2> I need to short equity. So I presume I need an margin account from IB.
3> I don't need IB data feed & charting package(I presume they are not free?) as I am using 3rd party data feed & charting software.
4> I understand there is a $25000 requirement for PDT, but I am based in UK, so is it better to convert my GBP into US dollar and then put the deposit or I can simply put the equivalent of GPB when I open the IB account?

My question:
What sort of IB account(s) do I need to open to meet my requirements above?

Many Thanks
Steve
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Sincerely
Interactive Brokers
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Old Nov 20, 2009, 1:11pm   #1482
 
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Hi IB,
Thanks for you quick reply.

2. Correct.
But I have heard that IB margin account is for future and so even if I just open a Normal
IB stock trading account, I would still have 4 times leverage(buying power) to long or short certain stocks, is that correct ?

3. Market data feeds, vary per exchange and product set. For example, for US markets (individual account holders) will have to pay $10 per month. If you execute over $30 of brokerage fees it is free.
SO say if I only need live data from NYSE and NASDAQ exchange, I just need to pay $10 per month even if I don't trade that particular month (say on holiday) ?
And the live data exchange fee for NYSE & NASQAQ will be waived if my execute over $ 30 brokerage fee?
Is that correct ?
And how do you charge the monthly fee in US dollar from my UK sterling bank account ? I presume via a vary standing order directly from my UK sterling account based on forex change rate of USD/GBP that month ? Please correct me otherwise.

I am still not sure which account I need to open after checking this IB account highlight page:
http://individuals.interactivebroker...s_accounts.php

Could you please advise what account I need to open please based on my requirement I mentioned in my previous post?

BTW Is there a (free) IB inquiry UK landline I can call so I can get thing clear easily?

Regards,
Steve
Quote:
Originally Posted by Interactive Brokers View Post
Dear Prospective Client

Thank you for your interest in Interactive Brokers.

Answers to your questions:

1. If you are going to trade US securities you should be aware of the Pattern Day Trading (PDT) rule i.e., http://www.interactivebrokers.com/en/p.php?f=margin

2. Correct.

3. Market data feeds, vary per exchange and product set. For example, for US markets (individual account holders) will have to pay $10 per month. If you execute over $30 of brokerage fees it is free.

4. You can choose any of the base currencies we support to fund your account. Refer to the following link regarding our IB Universal Account benefits
http://individuals.interactivebroker...?ib_entity=llc
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Old Nov 20, 2009, 1:43pm   #1483
Joined Jan 2006
[QUOTE=TradePA;981056]Hi IB,
Thanks for you quick reply.

With respects to your follow-up questions:

a) We support a cash and a margin account. Margin accounts can be used for stocks, options, futures, etf's, bonds and forex.

b) Pattern Day trading rules apply to securities only e.g., stocks and options.

c) For futures intitial, maintenance, overnight and etc., margin requirements apply.

d) Refer to our margin section for futures for a full disclosure of what margin requirements we ask.

e) Correct for your market data example.

f) Our IB Universal Account allows you to deposit one base currency. Afterwards, you can trade any of the products we support in different currencies. There is no need to do an FX conversion rather we will loan you the other currencies so you can trade. When you are done with the trade you can always undo the loan.

Quote:
Originally Posted by TradePA View Post
Hi IB,
Thanks for you quick reply.

2. Correct.
But I have heard that IB margin account is for future and so even if I just open a Normal
IB stock trading account, I would still have 4 times leverage(buying power) to long or short certain stocks, is that correct ?

3. Market data feeds, vary per exchange and product set. For example, for US markets (individual account holders) will have to pay $10 per month. If you execute over $30 of brokerage fees it is free.
SO say if I only need live data from NYSE and NASDAQ exchange, I just need to pay $10 per month even if I don't trade that particular month (say on holiday) ?
And the live data exchange fee for NYSE & NASQAQ will be waived if my execute over $ 30 brokerage fee?
Is that correct ?
And how do you charge the monthly fee in US dollar from my UK sterling bank account ? I presume via a vary standing order directly from my UK sterling account based on forex change rate of USD/GBP that month ? Please correct me otherwise.

I am still not sure which account I need to open after checking this IB account highlight page:
http://individuals.interactivebroker...s_accounts.php

Could you please advise what account I need to open please based on my requirement I mentioned in my previous post?

BTW Is there a (free) IB inquiry UK landline I can call so I can get thing clear easily?

Regards,
Steve
[QUOTE=TradePA;981056]Hi IB,
Thanks for you quick reply.

With respects to your follow-up questions:

a) We support a cash and a margin account. Margin accounts can be used for stocks, options, futures, etf's, bonds and forex.

b) Pattern Day trading rules apply to securities only e.g., stocks and options.

c) For futures intitial, maintenance, overnight and etc., margin requirements apply.

d) Refer to our margin section for futures for a full disclosure of what margin requirements we ask.

e) Correct for your market data example.

f) Our IB Universal Account allows you to deposit one base currency. Afterwards, you can trade any of the products we support in different currencies. There is no need to do an FX conversion rather we will loan you the other currencies so you can trade. When you are done with the trade you can always undo the loan.
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Sincerely
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Old Nov 20, 2009, 2:07pm   #1484
 
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Joined Nov 2009
Hi,

Is IB universal account a cash account or a margin account , or its a combination of those two?
And can you confirm I DON'T need a margin account to have the 4 time leverage(buying power) for stock trading ?
Regards,
Steve

[QUOTE=Interactive Brokers;981086][QUOTE=TradePA;981056]Hi IB,
Thanks for you quick reply.

With respects to your follow-up questions:

a) We support a cash and a margin account. Margin accounts can be used for stocks, options, futures, etf's, bonds and forex.

b) Pattern Day trading rules apply to securities only e.g., stocks and options.

c) For futures intitial, maintenance, overnight and etc., margin requirements apply.

d) Refer to our margin section for futures for a full disclosure of what margin requirements we ask.

e) Correct for your market data example.

f) Our IB Universal Account allows you to deposit one base currency. Afterwards, you can trade any of the products we support in different currencies. There is no need to do an FX conversion rather we will loan you the other currencies so you can trade. When you are done with the trade you can always undo the loan.



Quote:
Originally Posted by TradePA View Post
Hi IB,
Thanks for you quick reply.

With respects to your follow-up questions:

a) We support a cash and a margin account. Margin accounts can be used for stocks, options, futures, etf's, bonds and forex.

b) Pattern Day trading rules apply to securities only e.g., stocks and options.

c) For futures intitial, maintenance, overnight and etc., margin requirements apply.

d) Refer to our margin section for futures for a full disclosure of what margin requirements we ask.

e) Correct for your market data example.

f) Our IB Universal Account allows you to deposit one base currency. Afterwards, you can trade any of the products we support in different currencies. There is no need to do an FX conversion rather we will loan you the other currencies so you can trade. When you are done with the trade you can always undo the loan.
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Old Nov 27, 2009, 6:21am   #1485
 
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Re: Interactive Brokers

For you Mac users out there- Any add-ons that you use?
Are there add-ons for getting information into non excel spread sheets without personally programming through API?

Thanks

Michael
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