Daytrading YM with IB

O

osho67

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• Feb 21, 2005

• #1

Will I need $25k minimum with IB to day trade YM futures? I think I need 25k for stocks and options but I am not sure about futures. Info much appreciated.

 

Bigbusiness

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• Feb 21, 2005

• #2

It is a lot less than that. The current amounts can be found in this table:-
http://www.interactivebrokers.com/cgi-bin/margin_amer.pl?ib_entity=IB-UK

 

O

osho67

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• Feb 21, 2005

• #3

This is something to do with pattern trading rule and not about the margin requirements . I am now confused.

 

Bigbusiness

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• Feb 21, 2005

• #4

i don't make lots of trades in a day but I have had no problems trading the YM with less than $25k in my account. I don't think those rules apply to futures but if you are in doubt, I would email them to make sure.

edit:-

This states that it applies to stocks and options but there is no mention of futures:-

http://www.interactivebrokers.com/php/marginRequirements/patternDayTraders.php?ib_entity=IB-UK

 

Last edited: Feb 21, 2005

rossored

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• Feb 21, 2005

• #5

You dont need any more than the £1450 to open an account, and the intraday $ margin. As long as you're above that, you're fine. The PDT rule does not apply to futures.

 

J

JonnyT

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• Feb 21, 2005

• #6

rossored is correct. The Paterrn Day Trader rules are for stock trading only. They do not apply to futures.

JonnyT

 

O

osho67

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• Feb 21, 2005

• #7

Thanks so much to everybody

 

C

chris_ri

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• Feb 21, 2005

• #8

Hi, I'm also in the process of opening an IB account and although you don't need $25000 to day trade futures, the initial deposit appears to be $10000 . Still better than $25k

He's a quote from the IB site ( http://www.interactivebrokers.com/p...eposits.php?ib_entity=IB-UK#brokerCommissions )
Broker Initial Deposit

IB requires an initial deposit of $10,000 or the USD equivalent that will be used towards the broker's and broker's clients' first commissions.


All the best with it

Chris

 

rossored

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• Feb 21, 2005

• #9

I think you'll find the $10k figure is for brokers, not private individuals.

For private indiduals, you only need $2k to open an account, plus the margin of whatever it is you want to trade.

 

C

chris_ri

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• Feb 21, 2005

• #10

Thanks for clearing that up

Chris