Best Thread Interactive Brokers

[anley]

IB is great but they're 101% crap with customer service.

It's their way or no way and if they say 2+2=3 it cannot be anything else. They will also NEVER do you a favour.

So like I said I'm a great fan of what they offer on the trading side but if you need to contact them at all then god be with you, and perhaps have a few drinks beforehand to calm you down. And if you suffer from high blood pressure don't go near them.

 

[uhomeuhome]

well, the bid size was several times of my order when the market close...

BTW, she just called back and said the developer is looking and will give me an update tommorrow before the market open...

 

[Interactive Brokers]

For your reference, you can contact Interactive Brokers service desk (globally), not just a regional desk.

Please refer to the following URL with more details.

http://www.interactivebrokers.com/en/p.php?f=customerService&ib_entity=uk

I am quite a newbie. I want to ask is IB really reliable?

I lives in Hong Kong. Today I placed a sell market order for one of my stocks in the last minute before the market close.

What came out is that, instead of traded in the bid price, only some of my stocks were sold in the ask price. I bet they transmit my market order as limit order. But how can that be? Shouldn't they match my order with the biding queue and fill all of them immediately?

I called the customer service and the other side called she would have a look and would call back later. However, I received no reply and their office is now closed.

Moreover, I'm not able to login my account management now.

 

[olionion]

IB, i was just trying to sign up an account in the name of my LTD company (UK registered and based), i went through the single account process and tried both the quick option and the long option. In the drop down box on the page after (i think) you get your username there was no option to select a LTD company, there were only four options available. Can you please clarify what account type i should be selecting, under the "explain" tooltip a LTD company was mentioned as an account type but it wasnt available to select?

Sorry if this is best directed at support but this is convenient.

Cheers

Oli

 

[Interactive Brokers]

Dear Olion

Please contact our London office tel 020 7 776 7801 and one of our representatives will be glad to assist you. Thank you in advance for your patience.

 

[olionion]

No probs, will do thanks

 

[orangetrader]

I'm in the process of setting up an IB account.
1) I notice that you have to quote the opening balance in dollars. Does this mean that the base currency for all transactions (regardless of exchange) is US dollars? i.e. do I need to concern myself with the base currency/curency exchange rates if I am a UK resident and trading only in LSE stocks?

2) What is the easiest way of transferring funds? Can I simply do a bill payment via UK online bank account at no cost?

3)I will probably execute around 60 to 100 trades a month (incl stops) with deal size in the £3k to 8k pounds sterling range. Is it a given that the fixed fee charging rate would be more preferential for my account?
thanks in advance

 

[just21]

I have just noticed that Ib are offering UK cfds. 0.08% commission 1.5% overnight financing how does this compare with other brokers?

http://individuals.interactivebrokers.com/en/trading/pdfhighlights/PDF-CFDs.php?p=pm&ib_entity=llc

 

[Interactive Brokers]

I'm in the process of setting up an IB account.
1) I notice that you have to quote the opening balance in dollars. Does this mean that the base currency for all transactions (regardless of exchange) is US dollars? i.e. do I need to concern myself with the base currency/curency exchange rates if I am a UK resident and trading only in LSE stocks?

2) What is the easiest way of transferring funds? Can I simply do a bill payment via UK online bank account at no cost?

3)I will probably execute around 60 to 100 trades a month (incl stops) with deal size in the £3k to 8k pounds sterling range. Is it a given that the fixed fee charging rate would be more preferential for my account?
thanks in advance

Per your questions:

1. You can choose from any of our base currencies to open and fund an account ( = IB Universal Account). http://www.interactivebrokers.com/en/accounts/universalAccount.php?ib_entity=llc

2. We accept online deposits ie within your account management tool. From the aforementioned there is a funding wizard that provides you simple guidance on how to fund and withdraw.

3. We suggest you compare our flat rate (bundled) v cost plus (unbundled) rates and decide for yourself.

 

[orangetrader]

thanks. can I confirm my understanding of how the fees work. For a £5000 trade, a "cost plus" would be £4 (IB fee) + £2.25 (exchange fee) + $0.16 (clearing fee) & total of £6.25 + clearing fee. For a £3k contract the cost would be £3.73 (£2.40 IB + £1.35 exchange fee) + $0.16?
Also are there any additional charges or costs if I use sterling as the underlying / base currency?

 

[Interactive Brokers]

NEW --- IB UK Spot Gold and CFDs Offered

We are pleased to announce the release of two new trading products through our UK affiliate: IB Spot Gold and IB UK CFDs.

IB Spot Gold gives you access to the London bullion market, which is the center for the international over-the-counter (OTC) market for gold.

IB UK CFDs (Contracts for Difference) are an OTC product that let you trade the difference between the current and future price of a share. This product provides a similar economic benefit as trading the underlying stock, with possible tax advantages.

These products are available to all non-US and non-Canadian customers, and IB Spot Gold is also available to US-based Eligible Contract Participants (generally, individuals or institutions with over five million, or ten million in assets) as determined by your account application. Both require that you upgrade your trading permissions in Account Management. CFDs require LSE market data permissions.

Refer to our home page for more information www.interactivebrokers.co.uk

 

[orangetrader]

I'm still trying to determine what the cost of trading LSE stocks would be using the "cost plus" structure. Can you let me know what exchange fees would be charged on top of the "per trade value" IB fee please? thanks

 

[orangetrader]

also could you just confirm what protection is in place to safe guard equity & cash please? I appreciate that IB is well capatilised but just need to know what would happen in a worst-case scenario of IB going pop? thanks

 

[the mule]

hello
IB have given you all the information the only thing that I can say that I am very suprise about the quality of their costumer service and quality of the charts I was looking for chart API and when I connect for the first time IB I directly understand that I will work very good with their charts everytime in need information they reply very quickly so let's go for IB I am very happy with them
regards

 

[uhomeuhome]

NEW --- IB UK Spot Gold and CFDs Offered

We are pleased to announce the release of two new trading products through our UK affiliate: IB Spot Gold and IB UK CFDs.

IB Spot Gold gives you access to the London bullion market, which is the center for the international over-the-counter (OTC) market for gold.

IB UK CFDs (Contracts for Difference) are an OTC product that let you trade the difference between the current and future price of a share. This product provides a similar economic benefit as trading the underlying stock, with possible tax advantages.

These products are available to all non-US and non-Canadian customers, and IB Spot Gold is also available to US-based Eligible Contract Participants (generally, individuals or institutions with over five million, or ten million in assets) as determined by your account application. Both require that you upgrade your trading permissions in Account Management. CFDs require LSE market data permissions.

Refer to our home page for more information www.interactivebrokers.co.uk

For the spot Gold, to whom we will be trading against?

BTW,
1.The TWS often disconnects, is there anyway to refresh without restarting?
2.Is it possible to create a chart for basic Technical Indicators?

 

[Interactive Brokers]

I'm still trying to determine what the cost of trading LSE stocks would be using the "cost plus" structure. Can you let me know what exchange fees would be charged on top of the "per trade value" IB fee please? thanks

For UK shares we ask a flat rate only ie GBP 6.00 per bargain (all in) =< GBP 50,000 in trade value; For bargains over GBP 50,000 we ask (for that part) 5 basis points. Stamp Duty is applicable for purchases only.

 

[Interactive Brokers]

also could you just confirm what protection is in place to safe guard equity & cash please? I appreciate that IB is well capatilised but just need to know what would happen in a worst-case scenario of IB going pop? thanks

Our clients are offered (but not limited to) SIPIC and Lloyds of London Protection ( up to $30 million).

 

[Adamus]

also could you just confirm what protection is in place to safe guard equity & cash please? I appreciate that IB is well capatilised but just need to know what would happen in a worst-case scenario of IB going pop? thanks

Our clients are offered (but not limited to) SIPIC and Lloyds of London Protection ( up to $30 million).

You say protection is not limited to SIPIC and Lloyds of London - what other protection is available to UK citizens?

Thanks in advance.

 

[Tubbs]

Anyone know how I can setup a preset order to buy 2 contracts both with an automatic stop and 1 with a profit target - letting the other contract run?

I assume it's in the bracket order region, but can't figure out how to only exit 1 contract and leave the other.

Many thanks,

 

[Interactive Brokers]

You say protection is not limited to SIPIC and Lloyds of London - what other protection is available to UK citizens?

Thanks in advance.

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