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
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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
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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
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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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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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Old Feb 21, 2011, 11:46am   #11
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Re: Interactive Brokers CFD Product

Yes, I work and represent Interactive Brokers, that is why we make it transparent in our username. Your profile says broker? Hence, I took it that you have or work for a broker.
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Old Feb 21, 2011, 12:53pm   #12
Joined Dec 2003
Re: Interactive Brokers CFD Product

I haven't used IB for CFDs, but overall they're one of the best out there, unless you have the misfortune of contacting their customer support.

But to be fair to them they do make it clear that help is not their forte. Many of their clients never need to contact them and most of these sing their praises.

Basically you get what you pay for, so if you want tip-top customer service IB is not for you.
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Old Feb 21, 2011, 1:16pm   #13
 
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Re: Interactive Brokers CFD Product

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Originally Posted by anley View Post
I haven't used IB for CFDs, but overall they're one of the best out there, unless you have the misfortune of contacting their customer support.
I have probably contacted IB customers support 10 to 20 times in the last 7 years.

Only once can i remember being put through to someone who wasn't very good.

But maybe im more laid back than most people.. and take responsibility for my trading results even when it is my broker who screws up.
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Old Feb 25, 2011, 1:27pm   #14
 
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Re: Interactive Brokers CFD Product

Hi all

Is it possible to trade FX with CFD on interactive brokers? And what about my favourite FDAX? CFD available?

Greetings,
Marco
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Old Feb 25, 2011, 1:54pm   #15
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Re: Interactive Brokers CFD Product

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Originally Posted by mas1968 View Post
Hi all

Is it possible to trade FX with CFD on interactive brokers? And what about my favourite FDAX? CFD available?

Greetings,
Marco
You cannot trade FX via CFDs with us. You can trade spot FX, convert your funds through our FX platform and you can trade FX exchange traded products.

We only offer CFDs for FTSE 100 shares and Australian exchange traded products.
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