Best Thread Interactive Brokers

Hello, I'm a non-US person and plan to open an account with Interactive Brokers.

I've read already read through the detailed information on the IB website, but still have some tax questions:

I understand that I have to provide a valid W8 form to avoid the 30% withholding tax. Does IB provide a (downloadable) list of my account balance and my transactions at year end that I can show to my local tax authorities? Or are these information maybe automatically provided to my local tax authorities by Interactive Brokers or the US financial authorities?

Or do I have to compile all account and transaction data by myself? I ask so I know what amount of tax document work to expect so I can make everything right and to avoid unnecesary trouble with the tax authorities.

Thanks in advance,
Tom :cool:
 
Hello, I'm a non-US person and plan to open an account with Interactive Brokers.

I've read already read through the detailed information on the IB website, but still have some tax questions:

I understand that I have to provide a valid W8 form to avoid the 30% withholding tax. Does IB provide a (downloadable) list of my account balance and my transactions at year end that I can show to my local tax authorities? Or are these information maybe automatically provided to my local tax authorities by Interactive Brokers or the US financial authorities?

Or do I have to compile all account and transaction data by myself? I ask so I know what amount of tax document work to expect so I can make everything right and to avoid unnecesary trouble with the tax authorities.

Thanks in advance,
Tom :cool:

Yes, we provide tax reports.
 
Yes, we provide tax reports.

Thanks for your fast reply. So I just have to print the tax report for my account and provide the document data to my local tax authorities?

Or are any tax data automatically submitted to the local tax authorities that would make the whole process much easier and faster?

Tom :cool:
 
Thanks for your fast reply. So I just have to print the tax report for my account and provide the document data to my local tax authorities?

Or are any tax data automatically submitted to the local tax authorities that would make the whole process much easier and faster?

Tom :cool:

You will need to print the information and provide it to your accountant or tax authority.
 
Thank you. I plan to start the account application this weekend.
It's very convenient that IB provides printable tax reports. That
makes the paperwork for the local tax authorities much easier.

Tom :cool:
 
Absolute ****e website. I tried calling the toll free number .... got a dead dialing tone. The email system doesn't seem to be opening because one of the dropdown menu options is empty & trying to find interactive online help is like looking for a needle in a haystack

Someone's trying to tell me not to contact IB lol
 
Absolute ****e website. I tried calling the toll free number .... got a dead dialing tone. The email system doesn't seem to be opening because one of the dropdown menu options is empty & trying to find interactive online help is like looking for a needle in a haystack

Someone's trying to tell me not to contact IB lol

I'm looking for a good online broker from Canada or the USA to better trade my Canadian stocks. As a non-US or non-Canadian resident it's important that the online broker accepts customers worldwide.

From the few US and Canadian based online brokers that accept worldwide customers Interactive Brokers seems to be the best choice for my requirements. And if I need some support the Trade2Win forums are a fast and efficient way to talk with an IB representative.

As I will only trade stocks with a cash account there should not be too many problems, especially as I have already many years experience trading stocks on the Canadian stock exchanges. But not online and real-time but only via my local bank.

Tom :cool:
 
I have one question about the account base currency:

Can I choose Canadian Dollars as the base currency of my account as a European customer?
As I will mainly trade stocks on Canadian stock markets it would make things much easier.

Tom :cool:
 
I have one question about the account base currency:

Can I choose Canadian Dollars as the base currency of my account as a European customer?
As I will mainly trade stocks on Canadian stock markets it would make things much easier.

Tom :cool:

You can fund your account is CAD.
 
I am currently trading at IB but lately I have been trading low-priced stocks (ie between $1 and $2) and due to my ticket size I would rather pay a flat-fee per trade than the $0.005 per share that IB charges. Is there a way for me to be charged a flat fee per ticket at IB?
 
I am currently trading at IB but lately I have been trading low-priced stocks (ie between $1 and $2) and due to my ticket size I would rather pay a flat-fee per trade than the $0.005 per share that IB charges. Is there a way for me to be charged a flat fee per ticket at IB?

Thank you for your comments, although we only offer for US shares a fee per share, not per transaction value.
 
Hi,
I wish to open an account to day trade stocks in NASDAQ and NYSE.
I will probably open a flat-fee per trade account as i may not trade everyday.

I am from the UK, what is the minimum amount i need to open an account?
Will there be any charges for not using my account for a certain period of time?

thank you

tom
 
Fees and costs:

- $10,000 initial deposit.
- $10, minimum brokerage fees per month.
- $0.005 per share all in (via Smart Order Routing)
- Market data fees per month ($10 for US, but if you execute over $30 worth of brokerage per month -nil)
- Interest and finance fees.
- Other fees may apply.

NOTE: In the US if you day trade the Pattern Day Trading rule applies ie you need to have a minimum of $25,000 or more in your account.
 
Fees and costs:

- $10,000 initial deposit.
- $10, minimum brokerage fees per month.
- $0.005 per share all in (via Smart Order Routing)
- Market data fees per month ($10 for US, but if you execute over $30 worth of brokerage per month -nil)
- Interest and finance fees.
- Other fees may apply.

NOTE: In the US if you day trade the Pattern Day Trading rule applies ie you need to have a minimum of $25,000 or more in your account.

Can I just clarify please - as a UK resident does the Pattern Day Trading rule apply to me if I wish to day trade US stocks?
 
I have a question about the Level 2 information provided through the TWS Market Depth window. This only shows the MMID aggregated by exchange at each price level e.g. NSDQ.
Is there any way I can get Level 2 which shows the actual Market Makers e.g. BOFA, Barclays etc?
 
I have an account with IB funded from my sterling bank account, but I will only be trading US stocks. How does the system manage the currency aspects of this? Is my account converted and held in US $ from the outset, or is it maintained in Sterling and converted to US$ on a trade by trade basis? How can I find out what exchange rate is being applied?

As a follow up question, is my deposit held in a recognised Deposit Bonded financial instition?
 
I have a question about the Level 2 information provided through the TWS Market Depth window. This only shows the MMID aggregated by exchange at each price level e.g. NSDQ.
Is there any way I can get Level 2 which shows the actual Market Makers e.g. BOFA, Barclays etc?

No for the LSE.
 
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