Index CFDs at Interactive Brokers

Hello all,

is there anyone who's trading index CFDs at Interactive Brokers?

I'm trying to find out the overnight initial margin required to open X contracts of S&P 500 (symbol: IBUS500) where 1 point move equals 50 USD so that I could compare the margin required with other brokers. Reading the links below it's not clear to me. For example, what do they mean by related future? Is that ES or SPX?

Also, regarding the spread. What kind of spread should I expect? Similar to ES -- i.e. 0.25 point?

Thanks in advance for any help.

Margin
https://www.interactivebrokers.com/en/?f=margin&p=cfd

IB Index CFDs - Facts and Q&A
http://ibkb.interactivebrokers.com/article/1984

slima said:

Hello all,

is there anyone who's trading index CFDs at Interactive Brokers?

I'm trying to find out the overnight initial margin required to open X contracts of S&P 500 (symbol: IBUS500) where 1 point move equals 50 USD so that I could compare the margin required with other brokers. Reading the links below it's not clear to me. For example, what do they mean by related future? Is that ES or SPX?

Also, regarding the spread. What kind of spread should I expect? Similar to ES -- i.e. 0.25 point?

Thanks in advance for any help.

Margin
https://www.interactivebrokers.com/en/?f=margin&p=cfd

IB Index CFDs - Facts and Q&A
http://ibkb.interactivebrokers.com/article/1984

Click to expand...

I guess that the index CFDs at IB moves according to the future as you are paying commission. ES spread would be as you pointed out 0.25 point. I am interested to know what kind of commission you pay for trading the Dow (YM) CFDs 1 unit?

Igsniper said:

interactive brokers have very wide spread. i focus on IG since it is a listed company. i have won a lot on it,

Click to expand...

haha, nice spam. Interactive brokers are DMA so there is no spread as such.

slima said:

Hello all,

is there anyone who's trading index CFDs at Interactive Brokers?

I'm trying to find out the overnight initial margin required to open X contracts of S&P 500 (symbol: IBUS500) where 1 point move equals 50 USD so that I could compare the margin required with other brokers. Reading the links below it's not clear to me. For example, what do they mean by related future? Is that ES or SPX?

Also, regarding the spread. What kind of spread should I expect? Similar to ES -- i.e. 0.25 point?

Thanks in advance for any help.

Margin
https://www.interactivebrokers.com/en/?f=margin&p=cfd

IB Index CFDs - Facts and Q&A
http://ibkb.interactivebrokers.com/article/1984

Click to expand...

I trade index CFDs with interactive brokers (along with other instruments). The ES future contract is the relevant future for the S&P500 index CFD. SPY is an ETF traded on NYSE i.e. it's not a futures contract.

CFD's with interactive brokers are direct market access so the spread will be exactly the same as the underlying ES contract = 0.25 points.

Margining is complicated with interactive brokers and it also depends on what type of account your open. it is not a dealer you have to know and understand initial, maintenance and something they call SMA. My advice is give them a call if you want to know your the exact margin.