Interactive Brokers CFD Product

This is a discussion on Interactive Brokers CFD Product within the Spread Betting & CFDs forums, part of the Commercial category; Had an email this morning announcing the arrival of IB's CFD product. Details are: - large-caps only (looks like FTSE100 ...

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Old Feb 7, 2011, 3:05pm   #1
 
Jack o'Clubs's Avatar
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Interactive Brokers CFD Product

Had an email this morning announcing the arrival of IB's CFD product.

Details are:
- large-caps only (looks like FTSE100 stocks)
- sliding scale coms starting at £5 min, for trade values <£1m (down to 0.015% for trade values >£500m)
- financing from LIBOR+1.5% (falls to L+1% above £70k balance and L+0.5% above £700k)
- 10% margin.

Looks a reasonable deal, particularly on financing.
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Old Feb 14, 2011, 2:51pm   #2
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Re: Interactive Brokers CFD Product

Yes I was looking at this too, never traded a CFD before, but IB normally very competitive
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Old Feb 16, 2011, 5:33pm   #3
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Re: Interactive Brokers CFD Product

Interactive are still a good broker, but CMC and IG are prbably more competitive now.
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Old Feb 20, 2011, 8:14am   #4
Joined Jan 2006
Re: Interactive Brokers CFD Product

Our CFD highlights:

- We ask a sliding scale that starts at 8 to 1.5 basis points ie the more you trade the less you pay.
- You can trade through any of our trading platforms, Web Trader, Trader Workstation, Mobile Trader and API.
- Low finance fees.
- You have access to the underlying and best execution (Smart Order Routing).
- Account protection of over $500,000.

We hope you compare us to the others and make the best choice for you.
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Old Feb 20, 2011, 10:52am   #5
 
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Re: Interactive Brokers CFD Product

Quote:
Originally Posted by Jack o'Clubs View Post
Had an email this morning announcing the arrival of IB's CFD product.

Details are:
- large-caps only (looks like FTSE100 stocks)
- sliding scale coms starting at £5 min, for trade values <£1m (down to 0.015% for trade values >£500m)
- financing from LIBOR+1.5% (falls to L+1% above £70k balance and L+0.5% above £700k)
- 10% margin.

Looks a reasonable deal, particularly on financing.
I think £5 minimum for less than £1million is expensive. My trades are a long way less than £1m each.
Is it £5 per point minimum as per SBs or £5 per trade minus profit/loss ?
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Old Feb 21, 2011, 10:50am   #6
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Re: Interactive Brokers CFD Product

I agree this is a little costly...well compared to other brokers. Commissions are getting a lot more competitive with bothe CMC and IG dropping them recently!
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Old Feb 21, 2011, 11:24am   #7
Joined Jan 2006
Re: Interactive Brokers CFD Product

JTrader, just out of curiosity are you an employee of a broker?
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Old Feb 21, 2011, 11:28am   #8
Joined Jun 2009
Re: Interactive Brokers CFD Product

I'm not but I do trade for myself- I take it you work for Interactive...if you were trading for yourself who would you trade with?
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Old Feb 21, 2011, 11:34am   #9
 
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Joined Jan 2004
Re: Interactive Brokers CFD Product

Quote:
Originally Posted by jtrader1001 View Post
I'm not but I do trade for myself- I take it you work for Interactive...if you were trading for yourself who would you trade with?

why does your vendor tag tool tip say 'broker'?
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Old Feb 21, 2011, 11:36am   #10
 
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Re: Interactive Brokers CFD Product

Quote:
Originally Posted by jtrader1001 View Post
Interactive are still a good broker, but CMC and IG are prbably more competitive now.
I dont trade CFDs but if CMC or IG CFD fill quality is anything like their spread bet offering i wouldn't touch them with a barge pole.
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