Interactive Brokers
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The following softs are online in the Trader Workstation (symbols are) CC, SE, SB, KC, CT and OJ.
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Best Thread Interactive Brokers
HI IB!
I've got the next question concerning the account type. Me and my friend would like to trade US stocks from single account (50/50). Is there any possible way to open such an account and second are there any protection mechanism built in such account so that no one of us could use not his money? (lets say, we have 30000 together and 15000 for trading for each. The one has lost his 15000 and taken mine to trade. is it possible or not?).
Thinking about opening an account with IB but still have to solve some issues.
Thanks
Thanks
I've got the next question concerning the account type. Me and my friend would like to trade US stocks from single account (50/50). Is there any possible way to open such an account and second are there any protection mechanism built in such account so that no one of us could use not his money? (lets say, we have 30000 together and 15000 for trading for each. The one has lost his 15000 and taken mine to trade. is it possible or not?).
Thinking about opening an account with IB but still have to solve some issues.
Thanks
Thanks
Interactive Brokers
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Cabum
We have various account types (eg, individual, friends and family, institutional and etc). If I understand your question correct you want to pool your funds but if either you or your partner lose a certain amount of capital the other cannot use the others capital? If so, wouldn't it be better to open two seperate accounts and not to pool your funds? If you open a Friends and Family account you can create permissions (ie banking, withdrawals and etc). We also have an institutional account type that offers seperate trading limits under the master account.
We have various account types (eg, individual, friends and family, institutional and etc). If I understand your question correct you want to pool your funds but if either you or your partner lose a certain amount of capital the other cannot use the others capital? If so, wouldn't it be better to open two seperate accounts and not to pool your funds? If you open a Friends and Family account you can create permissions (ie banking, withdrawals and etc). We also have an institutional account type that offers seperate trading limits under the master account.
Interactive Brokers
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Stellarog
We are presentally not experiencing problems with our sytems. I suggest if you are experiencing problems please contact the helpdesk immediately so they can assist you to review your problem and to troubleshoot.
We are presentally not experiencing problems with our sytems. I suggest if you are experiencing problems please contact the helpdesk immediately so they can assist you to review your problem and to troubleshoot.
Interactive Brokers said:
That's right, that's what I mean. The problem is nor I nor my friend has enough fund to open separate account ($25000). I have $15000 and my friend has the same amount. So the only way is to open a single account. Does a single (not friends and family and not institutional account) account have the ability to control two separate sums as I mentioned above?
Thanks, appreciate your help.
DallasSteve
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Annual Statements
Does anyone know when IB will prepare the online yearly account statements for 2006? I still can't download a yearly statement for my account.
Steve
Does anyone know when IB will prepare the online yearly account statements for 2006? I still can't download a yearly statement for my account.
Steve
SteveDallasSteve said:
Their website says 31st Jan
http://www.interactivebrokers.com/en/accounts/yearEndStatements.php
Charlton
DallasSteve
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Annual Statements
You do good work, Charlton. Thanks.
Steve
Charlton said:
You do good work, Charlton. Thanks.
Steve
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DallasSteve said:
Dear Steve
Your year-end Annual 2006 statement will be available in Account Management by the end of day February 5, 2007. This re-designed statement features a new format which is expandable and contractible and includes click-down detail. The year-end statement will display, by product, the beginning, change, and ending balance detail, as well as profit and loss performance under First In, First Out (FIFO) and Mark-to-Market (MTM) calculation methodologies. For those customers trading in multiple currencies, we will also be calculating FX translation gains and losses from holding positions and cash in non-base currencies. In-depth information and explanations for our new statements will be made available on our Statement Details page when the annual statements are posted.
Over the coming months, we plan to utilize our new statement format for both daily and monthly statements, as well as to let you pick a range of dates to see your activity. In addition we will be providing all customers with a new daily Margin Report which will show individual margin requirements for each underlying or combination position.
A US IRS Form 1099 will be made available in Account Management by the end of day January 31, 2007 for all US residents or citizens. This new 1099 will be available in an IRS-approved PDF format for easier reading. In addition, supplemental Gain & Loss and Dividend reports will be provided that can be used as Schedule B and D reports when filing your US tax return.
On February 28, 2007 we will be providing Canadian residents with revamped Forms T5 and T5008, and on March 15th we will be providing all non-US residents and citizens with an IRS Form 1042S.
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IB COMMUNIQUE (new features and benefits)
Trading to Be Available for Hong Kong Stocks and Warrants
By mid-February we will be introducing trading in Hong Kong Stocks and Warrants on the Stock Exchange of Hong Kong. We have also recently introduced Forex cash index options on the PHLX, and cocoa, coffee, cotton, orange juice and sugar soft commodity future contracts on the NYMEX. Information for Hong Kong Stocks and Warrants will be posted to our Exchange Listings web page when available, and details for PHLX Forex cash index options and NYMEX soft commodities is now available on our Exchange Listings web page.
Lower Commissions for VWAP and Forex Trades
Guaranteed Volume Weighted Average Price (VWAP) commissions have been lowered to $.01 per share. A VWAP trade allows you to specify a time period for US stock pricing with Interactive Brokers guaranteeing you the Volume Weighted Average Price of the market as reported by Bloomberg for this time period. For more information on VWAPs, click here.
We also now provide lower volume tiered pricing for cash forex trades that starts at .10 of a basis point for over $200 million in daily trade volume and works its way up to the current rate of .20 of a basis point. See our Forex Commissions page for more details.
Friends and Family Accounts
For those individual customers who would like to trade multiple accounts (individual, IRA, joint, wife, child, relative or family friend account) from a single interface, we encourage you to consider a Friends and Family account. This account allows a single individual to log into TWS or Account Management and have access to all accounts. We also make transfers easy by providing a utility that will transfer all positions and cash balances from your old account to your new account over the weekend. For more information on opening a Friends and Family account, click here.
Trader Workstation Enhancements
We have been busy at work on the following Trader Workstation enhancements:
- Ability to display Exchange for Physical (EFP) prices as annualized or compounded annualized interest rates by right-clicking the Bid or Ask price field.
- You can now trade EFPs from the BasketTrader.
- You now have the ability to set a calculation end time for VWAP orders using the Exp. Time field.
- Comprehensive Contract/Order Description window that you open by double-clicking the Description field on a ticker line. Expands to show the order description when you create an order from the selected ticker.
- Ability to sort lines on the trading window by clicking in a column header.
- Right-click access to the Order Defaults page from both a ticker line and an order line.
- Ability to quickly add another option ticker based on Next Expiry, Previous Expiry, Next Strike or Previous - Strike from the right-click menu on an option ticker line.
- Display the new trading toolbar on detached pages using checkbox on Toolbar section of Global Configuration.
- Hotkeys that are configured to Instantaneously Transmit, now show an asterisk next to their name in the status line along the bottom of the application.
- The active trading tab now displays two new icons that allow you to detach the page or delete the page with a single click.
For more information on these and all TWS changes, see our Release Notes.
TWS API (Application Program Interface)
We are constantly at work enhancing our TWS API technology and its supporting documentation. The APIs let you trade the same products you can trade using TWS, including stocks, options, futures, forex, and bonds, and support multiple programming languages, including DDE for Excel, Java, Visual Basic 6.0 and .NET for ActiveX, and C++.
The latest beta release 9.1 of the TWS API includes full support for Exchange for Physical (EFP) trading on all of our API platforms.
For more information on TWS API-supported features, see the API Release Notes, the API section of the TWS Users' Guide and the TWS Excel API Beginners Guide.
New Market Data Fees
For 2007 a number of exchanges have modified their market data fees as follows:
KEY: Exchange; Before fee: New Fee Subscription
- US Options Exchange Professional (Before) USD 32.35 (New) USD 20
- Euronext Cash Market Level I (Before) EUR 18 (New) EUR 19
- Euronext Cash Market Level II (Before) EUR 58 (New) EUR 61
- Euronext.Liffe Equity Derivatives and Indices - Level I (Before) EUR 32 (Now) EUR 30
- Euronext.Liffe Equity Derivatives and Indices - Level II (Before) EUR 37 (Now) EUR 36
- IDEM Level II Non-Professional (Before) EUR 10 (Now) EUR 16.50
- IDEM Level II Professional (Before) EUR 35 (Now) EUR 40
If you wish to view or modify your market data subscriptions, please log into the market data subscription page via Account Management > Market Data Page Subscribtions
Trading to Be Available for Hong Kong Stocks and Warrants
By mid-February we will be introducing trading in Hong Kong Stocks and Warrants on the Stock Exchange of Hong Kong. We have also recently introduced Forex cash index options on the PHLX, and cocoa, coffee, cotton, orange juice and sugar soft commodity future contracts on the NYMEX. Information for Hong Kong Stocks and Warrants will be posted to our Exchange Listings web page when available, and details for PHLX Forex cash index options and NYMEX soft commodities is now available on our Exchange Listings web page.
Lower Commissions for VWAP and Forex Trades
Guaranteed Volume Weighted Average Price (VWAP) commissions have been lowered to $.01 per share. A VWAP trade allows you to specify a time period for US stock pricing with Interactive Brokers guaranteeing you the Volume Weighted Average Price of the market as reported by Bloomberg for this time period. For more information on VWAPs, click here.
We also now provide lower volume tiered pricing for cash forex trades that starts at .10 of a basis point for over $200 million in daily trade volume and works its way up to the current rate of .20 of a basis point. See our Forex Commissions page for more details.
Friends and Family Accounts
For those individual customers who would like to trade multiple accounts (individual, IRA, joint, wife, child, relative or family friend account) from a single interface, we encourage you to consider a Friends and Family account. This account allows a single individual to log into TWS or Account Management and have access to all accounts. We also make transfers easy by providing a utility that will transfer all positions and cash balances from your old account to your new account over the weekend. For more information on opening a Friends and Family account, click here.
Trader Workstation Enhancements
We have been busy at work on the following Trader Workstation enhancements:
- Ability to display Exchange for Physical (EFP) prices as annualized or compounded annualized interest rates by right-clicking the Bid or Ask price field.
- You can now trade EFPs from the BasketTrader.
- You now have the ability to set a calculation end time for VWAP orders using the Exp. Time field.
- Comprehensive Contract/Order Description window that you open by double-clicking the Description field on a ticker line. Expands to show the order description when you create an order from the selected ticker.
- Ability to sort lines on the trading window by clicking in a column header.
- Right-click access to the Order Defaults page from both a ticker line and an order line.
- Ability to quickly add another option ticker based on Next Expiry, Previous Expiry, Next Strike or Previous - Strike from the right-click menu on an option ticker line.
- Display the new trading toolbar on detached pages using checkbox on Toolbar section of Global Configuration.
- Hotkeys that are configured to Instantaneously Transmit, now show an asterisk next to their name in the status line along the bottom of the application.
- The active trading tab now displays two new icons that allow you to detach the page or delete the page with a single click.
For more information on these and all TWS changes, see our Release Notes.
TWS API (Application Program Interface)
We are constantly at work enhancing our TWS API technology and its supporting documentation. The APIs let you trade the same products you can trade using TWS, including stocks, options, futures, forex, and bonds, and support multiple programming languages, including DDE for Excel, Java, Visual Basic 6.0 and .NET for ActiveX, and C++.
The latest beta release 9.1 of the TWS API includes full support for Exchange for Physical (EFP) trading on all of our API platforms.
For more information on TWS API-supported features, see the API Release Notes, the API section of the TWS Users' Guide and the TWS Excel API Beginners Guide.
New Market Data Fees
For 2007 a number of exchanges have modified their market data fees as follows:
KEY: Exchange; Before fee: New Fee Subscription
- US Options Exchange Professional (Before) USD 32.35 (New) USD 20
- Euronext Cash Market Level I (Before) EUR 18 (New) EUR 19
- Euronext Cash Market Level II (Before) EUR 58 (New) EUR 61
- Euronext.Liffe Equity Derivatives and Indices - Level I (Before) EUR 32 (Now) EUR 30
- Euronext.Liffe Equity Derivatives and Indices - Level II (Before) EUR 37 (Now) EUR 36
- IDEM Level II Non-Professional (Before) EUR 10 (Now) EUR 16.50
- IDEM Level II Professional (Before) EUR 35 (Now) EUR 40
If you wish to view or modify your market data subscriptions, please log into the market data subscription page via Account Management > Market Data Page Subscribtions
From your website:
"Base currency is determined at the time of the opening of an account and may be changed at any time through Account Management."
"Forex trading permissions are not allowed in a cash account."
I'm based in the United Kingdom, but want to trade on the NASDAQ (stocks, not futures) if I open a cash account with GBP will there be any charges converting the money to USD. Roughly what exchange rate would I get?
Or, to put it another way, if I opened an account with 15000 GBP, then immediately changed my base currency to USD, how many USD would I have?
Also, would there be any difference with me opening an account at www.interactivebrokers.co.uk / .com
"Base currency is determined at the time of the opening of an account and may be changed at any time through Account Management."
"Forex trading permissions are not allowed in a cash account."
I'm based in the United Kingdom, but want to trade on the NASDAQ (stocks, not futures) if I open a cash account with GBP will there be any charges converting the money to USD. Roughly what exchange rate would I get?
Or, to put it another way, if I opened an account with 15000 GBP, then immediately changed my base currency to USD, how many USD would I have?
Also, would there be any difference with me opening an account at www.interactivebrokers.co.uk / .com
Interactive Brokers
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Dear Bugmenot2
You can either open a cash or margin account with Interactive Brokers. Our Universal Account is based off a margin account. We provide wto forex tools ie., IDEAL and IDEAL PRO. http://www.interactivebrokers.com/en/trading/pdfhighlights/PDF-Forex.php?ib_entity=uk
Our commissions http://www.interactivebrokers.com/en/accounts/fees/commissionForex.php?ib_entity=uk are fixed and our rates change daily please refer to our home page from more details
You can either open a cash or margin account with Interactive Brokers. Our Universal Account is based off a margin account. We provide wto forex tools ie., IDEAL and IDEAL PRO. http://www.interactivebrokers.com/en/trading/pdfhighlights/PDF-Forex.php?ib_entity=uk
Our commissions http://www.interactivebrokers.com/en/accounts/fees/commissionForex.php?ib_entity=uk are fixed and our rates change daily please refer to our home page from more details
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Sorry, I phrased my question badly.
I'm not interested in forex myself, I only mentioned the forex because with a previous broker
that was the easiest way to transfer GBP to USD (open the account with GBP, buy USD, use USD to buy shares). With forex not being allowed on cash accounts I thought maybe you had some hefty charge to convert GBP to USD.
I'm still not sure if an account opened with GBP will be able to trade USD stocks.
Your site says trading is only allowed for products denominated in the base currency of the account, and on the same page "Forex trading permissions are not allowed in a cash account", implying that if I open a cash account with GBP I'll only be able to trade on the London Stock Exchange.
Is the IDEAL tool available to cash accounts? Or is there some other way to convert a GBP account to USD?
I'm not interested in forex myself, I only mentioned the forex because with a previous broker
that was the easiest way to transfer GBP to USD (open the account with GBP, buy USD, use USD to buy shares). With forex not being allowed on cash accounts I thought maybe you had some hefty charge to convert GBP to USD.
I'm still not sure if an account opened with GBP will be able to trade USD stocks.
Your site says trading is only allowed for products denominated in the base currency of the account, and on the same page "Forex trading permissions are not allowed in a cash account", implying that if I open a cash account with GBP I'll only be able to trade on the London Stock Exchange.
Is the IDEAL tool available to cash accounts? Or is there some other way to convert a GBP account to USD?
Interactive Brokers
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Our Universal Account allows our clients to open an account by selecting a base currency. From your base currency clients can trade seamlessly products denominated in other currencies. That is, IB places a margin loan in the currency of the product you want to trade iwhich is denominated in an other currency other than your base currency. Please review the following link for more details http://www.interactivebrokers.com/en/accounts/universalAccount.php
Interactive Brokers
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Bugmenot2
Thank you for your feedback. Please we encourage all of our prospects to compare our services and review our benefits to ensure we meet their needs. That is, we value our company's credibility thus we are transparent regarding our fees, services, technology and benefits that are denoted on our website without prospects having to provide us your contact details or volumes. This way you can best judge for yourself we are the best choice for you.
Thank you for your feedback. Please we encourage all of our prospects to compare our services and review our benefits to ensure we meet their needs. That is, we value our company's credibility thus we are transparent regarding our fees, services, technology and benefits that are denoted on our website without prospects having to provide us your contact details or volumes. This way you can best judge for yourself we are the best choice for you.
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