Best Thread Interactive Brokers

kbloor said:
Hi there,

Just a question about margin requirements - I'm interested in the YM. Your site says the margin requirements for the mini-dow contracts are:

Intraday initial 1219
Intraday maintenance 975
Overnight initial 2438
Overnight maintenance 1950

Then another page says this:
All Futures products will be margined at 50% of the normal margin requirements during normal liquid trading hours for each product type. Each day at 15 minutes before the close of the normal trading session for a product, margin requirements will revert back to the 100% requirement until the opening of normal trading hours the next day. Margin requirements will always be applied at 100% for all spread transactions.

I'm just trying to get clear exactly how much margin is required and it would help if you could spell out to me whether I'm correct/incorrect in describing the margin requirement in this way:

The way I read your site means that on market open until 15:45 EST (or earlier in the case of early closing) I would need 1219/2 = $609.50 per contract in an IB account to open a position, and to stay in the market I would need a minimum of 975/2 = $487.50 per open position as my account value? (This is of course subject to your minimum account funding requirements too). And if I were to trade just before market close (say 10 minutes before) I'd need $1219 per contract to open a position and $975 per contract traded as my minimum account value to keep it in the market?

If you could confirm whether I was correct or clarify what the actual situation would be that would help me a lot - many thanks.
Click to expand...

Overnight is full, intra day is 50%

1219 is 50% of 2438
975 is 50% of 1950

2438 = full
1950 = full
 
At what time does the overnight margin for the ftse and dax future start and how much is it ? Thank you
 
Interactive Brokers said:
Can you name five online brokers that are capitalized over $2 billion where clients can call up and request to speak over the phone to senior management ad hoc? For example, from the following link http://iinews.com/site/pdfs/IIMag_Interactivebrokers_April_2005.pdf
Click to expand...

The link you posted does not work. Anyhow the link is not important. You chose to answer my question with another question that is not germane to the issue. More smokescreens. Don't bother responding further.
 
Out of interest as well, if I kicked off the application process, am I able to fund my account by sending GBP through on-line banking, or do I have to go into a branch to send the money to the states? I read the information on the site but I'm not familiar with many of the terms involved. Perhaps if I know what sort of transfer is typically used in this case I can ask my bank how long it takes? Also if Interactivebrokers had my sort code/ac number or swift/ban how long does a withdrawal typically take to a UK bank account?

Thanks for the information.
 
kbloor said:
Out of interest as well, if I kicked off the application process, am I able to fund my account by sending GBP through on-line banking, or do I have to go into a branch to send the money to the states? I read the information on the site but I'm not familiar with many of the terms involved. Perhaps if I know what sort of transfer is typically used in this case I can ask my bank how long it takes? Also if Interactivebrokers had my sort code/ac number or swift/ban how long does a withdrawal typically take to a UK bank account?

Thanks for the information.
Click to expand...
have just sorted mine has to be done by wire transfer from your bank.
did one with my last company that only took 1hr but that was in the uk same bank. think its about 4 days.
 
dcarrigan said:
have just sorted mine has to be done by wire transfer from your bank.
did one with my last company that only took 1hr but that was in the uk same bank. think its about 4 days.
Click to expand...
just noticed the transfer is to citibank uk, so might not take so long. think you can pay extra if in hurry.
 
Contingent what currency a client elects to fund thier account will determine what CITIBANK branch they will send thier funds too. For example,

- GBP base currency, you will send your wire transfer solely to a specific CITIBANK in the UK.
- USD base currency, you will send your wire transfer solely to a specific CITIBANK in the US.
- EUR base currency, you will send your wire transfer solely to a specific CITIABNK in D.
and etc...

At the end of all online applications our system will denote all of the particulars your bank needs to send us a wire transfer. Alternatively you can refer to the following link http://www.interactivebrokers.com/en/general/contact/sendingFunds.php?ib_entity=uk
 
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1) If I open an account, say, in the middle of the month; how do you deal with monthly fees/balances/counts (eg monthly activity fee, monthly volume count [of unbundled plans])?

2) As to "Monthly Activity Fee":

a)
Does it charge once I open an account?

b)
How about this case:
I frequently trade every month. However I need to go aboard for half a year on one day. Afterward, I haven't used any of your services AT ALL for a whole 6 months.

Do I still need to pay for "Monthly Activity Fee" for 6 whole months, even if I use no IB services at all?

3) "We are also regulated by the FSA but to say they are safer is ludicrous. US broker dealers will fall under SIPC which offers insurance of upto 500K (100K cash, 400K securities). In addition, IB has insurance from Lyolds of London with protection up to 30 million."

What does the 30million insurance has anything to do with me?
If IB bankrupted, how much max can I get on securities and commodities account?

4) Is intraday margin requirement negotiable? I would like to get about 20-33% only due to my strategy.
The reason I request this is I have very tight stop-losses (I won't even allow my capital to fall just 1% of required margin), so most parts of margin requirement are a waste of capital in my view.

5) How many additional connections or user-names I can get?

Thank you!
 
Last edited:
Trader_Herry said:
1) If I open an account, say, in the middle of the month; how do you deal with monthly fees/balances/counts (eg monthly activity fee, monthly volume count [of unbundled plans])?

2) As to "Monthly Activity Fee":

a)
Does it charge once I open an account?

b)
How about this case:
I frequently trade every month. However I need to go aboard for half a year on one day. Afterward, I haven't used any of your services AT ALL for a whole 6 months.

Do I still need to pay for "Monthly Activity Fee" for 6 whole months, even if I use no IB services at all?

3) "We are also regulated by the FSA but to say they are safer is ludicrous. US broker dealers will fall under SIPC which offers insurance of upto 500K (100K cash, 400K securities). In addition, IB has insurance from Lyolds of London with protection up to 30 million."

What does the 30million insurance has anything to do with me?
If IB bankrupted, how much max can I get on securities and commodities account?

4) Is intraday margin requirement negotiable? I would like to get about 20-33% only due to my strategy.
The reason I request this is I have very tight stop-losses (I won't even allow my capital to fall just 1% of required margin), so most parts of margin requirement are a waste of capital in my view.

5) How many additional connections or user-names I can get?

Thank you!
Click to expand...

Answers to your questions are as follows:

1. We do not pro rate fees (minimum monthly brokerage fees nor market data fees).
2. The minimum monthly brokerage fee is applied once you fund your account.
3. You can unsubscribe to market data fees. But you cannot suspend your minimum monthly brokerage fee.
4. Please refer to the following link for more particulars http://www.interactivebrokers.com/en/accounts/accountProtection.php?ib_entity=uk
5. Sorry no we cannot offer you lower margin rates because we are a regulated broker/dealer that offers listed exchange products. The majority if not all our margin rates are the same as the listed exchange offers professionals. We are not allowed (i.e., by exchange rules) to offer lower margin rates than what an exchange/clearing house requires.
 
Interactive Brokers said:
Answers to your questions are as follows:

1. We do not pro rate fees (minimum monthly brokerage fees nor market data fees).
2. The minimum monthly brokerage fee is applied once you fund your account.
3. You can unsubscribe to market data fees. But you cannot suspend your minimum monthly brokerage fee.
4. Please refer to the following link for more particulars http://www.interactivebrokers.com/en/accounts/accountProtection.php?ib_entity=uk
5. Sorry no we cannot offer you lower margin rates because we are a regulated broker/dealer that offers listed exchange products. The majority if not all our margin rates are the same as the listed exchange offers professionals. We are not allowed (i.e., by exchange rules) to offer lower margin rates than what an exchange/clearing house requires.
Click to expand...
As to 4, I have read before this post.
Tell me if I understand correctly.

a) I'm only insured on securities account.
b) I will lose EVERYTHING on futures account.
c) I can get SIPC-insured even if I'm an international client - $400,000 for securities; $100,000 for cash
All correct?

c2) How does the market value of my stocks, options, warrants, debt determine?
On the date you declare bankruptcy (if occurred), or else?

d) Question remains on this one:
For customers who have received the full SIPC protection, the Lloyd’s policy provides up to an additional $29.5 million (including $900,000 for cash), subject to an aggregate limit of $150 million.
Click to expand...
It seems to be very much. It has no details about the insurance scheme.

Is there any limitation for this insurance, or to get the claims?
Does it insure securities account only?
For the rest $20.5million, what does it cover?
Who is eligible to get the claims? Any restirctions/requirements?
Is there any link which has the details about this Lloyd's insurance?

Thanks for your answer.
 
Last edited:
Trader_Herry said:
As to 4, I have read before this post.
Tell me if I understand correctly.

a) I'm only insured on securities account.
b) I will lose EVERYTHING on futures account.
c) I can get SIPC-insured even if I'm an international client - $400,000 for securities; $100,000 for cash
All correct?

d) Question remains on this one:


It seems to be very much. It has no details about the insurance scheme.

Is there any limitation for this insurance, or to get the claims?
Does it insure securities account only?
For the rest $20.5million, what does it cover?
Who is eligible to get the claims? Any restirctions/requirements?
Is there any link which has the details about this Lloyd's insurance?

I'm talking about the *intraday* margin requirement.
Still no-no?

Thanks for your answer.
Click to expand...

Customer securities accounts at Interactive Brokers are protected up to $30 million (including up to $1 million for cash). The market value of your stocks, options, warrants, debt, and cash -- denominated in all currencies -- is covered by this insurance. Futures, options on futures, and single stock futures are not covered, but available cash will be swept from your futures account to your securities account periodically to take advantage of insurance coverage as much as possible. As with all securities firms, this insurance provides protection against failure of a broker-dealer, not against loss of market value of securities.

If you trade regulated futures then you have an additional protection from the exchanges and clearing houses where that product is traded.

Interactive Brokers LLC is your carrying broker that is registered and regulated in the US. Even if you are an international client you are afforded protection.
 
1)
You can unsubscribe to market data fees. But you cannot suspend your minimum monthly brokerage fee.
Click to expand...
Is it possible to suspend the account?
If not, how about close and re-opening account at a later time?


2)
How many additional connections or user-names can I get?

Thanks!
 
Last edited:
Interactive Brokers said:
Customer securities accounts at Interactive Brokers are protected up to $30 million (including up to $1 million for cash). The market value of your stocks, options, warrants, debt, and cash -- denominated in all currencies -- is covered by this insurance. Futures, options on futures, and single stock futures are not covered, but available cash will be swept from your futures account to your securities account periodically to take advantage of insurance coverage as much as possible. As with all securities firms, this insurance provides protection against failure of a broker-dealer, not against loss of market value of securities.
Click to expand...
It is just the same from what the website says.
Anyway thanks for the quote.

1)
But how does the market value of my stocks, options, warrants, debt determine?
On the date you declare bankruptcy (if occurred), or else?

If you trade regulated futures then you have an additional protection from the exchanges and clearing houses where that product is traded.

Interactive Brokers LLC is your carrying broker that is registered and regulated in the US. Even if you are an international client you are afforded protection.
Click to expand...
2)
So I still get protected from my futures account. I will not lose everything in case if you fail unfortunately.
I think every futures available are regulated futures. Am I right?

How about these questions:
(Are you still don't know the answer?)
3)
Is there any limitation for this insurance, or to get the claims?
Does it insure securities account only?
For the rest $20.5million, what does it cover?
Who is eligible to get the claims? Any restirctions/requirements?
Is there any link which has the details about this Lloyd's insurance?

4)
I'm talking about the *intraday* margin requirement.
Still no-no? :rolleyes: not negotiable?
 
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Trader_Herry said:
1)


Is it possible to suspend the account?
If not, how about close and re-opening account at a later time?


2)
How many additional connections or user-names can I get?

Thanks!
Click to expand...


It is not possible to suspend your account if you will be inactive for a long period. Thus you will have to close and reopen an account later on.

Individual account holders can have up to two users. And each user can be assigned various permissions (e.g., banking, funding, trading and etc) from your account management tool.
 
Individual account holders can have up to two users. And each user can be assigned various permissions (e.g., banking, funding, trading and etc) from your account management tool.
Click to expand...
Only 2 connections?!?
It appears someone told me I could have much more previously.

How about if I wish to get 3-5 connections?
Is there any other ways to do, or any workaround?

Thanks!
 
Trader_Herry said:
As to 4, I have read before this post.
Tell me if I understand correctly.

a) I'm only insured on securities account.
b) I will lose EVERYTHING on futures account.
c) I can get SIPC-insured even if I'm an international client - $400,000 for securities; $100,000 for cash
All correct?

d) Question remains on this one:


It seems to be very much. It has no details about the insurance scheme.

Is there any limitation for this insurance, or to get the claims?
Does it insure securities account only?
For the rest $20.5million, what does it cover?
Who is eligible to get the claims? Any restirctions/requirements?
Is there any link which has the details about this Lloyd's insurance?

I'm talking about the *intraday* margin requirement.
Still no-no?

Thanks for your answer.
Click to expand...


Please refer to the following link for more details about our account protection http://www.interactivebrokers.com/en/general/education/faqs/accountProtection.php?ib_entity=uk

Yes we support regulated futures but it is not the case for all brokers.

Intra day margin is non negotiable.
 
Trader_Herry said:
Only 2 connections?!?
It appears someone told me I could have much more previously.

How about if I wish to get 3-5 connections?
Is there any other ways to do, or any workaround?

Thanks!
Click to expand...

We support other account types that support mutilple users e.g., Friends and Family, institutional and etc.

Please elaborate what you mean by you want 3 to 5 connections? For example, you want to be able to log in with 3 to 5 users from one sole account?
 
Interactive Brokers said:
We support other account types that support mutilple users e.g., Friends and Family, institutional and etc.

Please elaborate what you mean by you want 3 to 5 connections? For example, you want to be able to log in with 3 to 5 users from one sole account?
Click to expand...
I would like to have 3-4 connections from 3-4 computers to the same TWS platform.
1 connection to Webtrader (for emgergency purpose).
All use the funds in that one universal account to trade.

Yes, so 1 sole account with the ability to multi-connect to TWS (3-4 connections) and Webtrader (1 connection).

Do you have more details about this Lloyd's insurance? (Any other links?)
Your link given is read long ago. Still the questions in mind remain.
Something needs to be confirmed since the claim received is quite large.
 
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