Interactive Brokers CFD Product

[Jack o'Clubs]

Had an email this morning announcing the arrival of IB's CFD product.

Details are:
- large-caps only (looks like FTSE100 stocks)
- sliding scale coms starting at £5 min, for trade values <£1m (down to 0.015% for trade values >£500m)
- financing from LIBOR+1.5% (falls to L+1% above £70k balance and L+0.5% above £700k)
- 10% margin.

Looks a reasonable deal, particularly on financing.

 

[gfrost]

Yes I was looking at this too, never traded a CFD before, but IB normally very competitive

 

[jtrader1001]

Interactive are still a good broker, but CMC and IG are prbably more competitive now.

 

[Interactive Brokers]

Our CFD highlights:

- We ask a sliding scale that starts at 8 to 1.5 basis points ie the more you trade the less you pay.
- You can trade through any of our trading platforms, Web Trader, Trader Workstation, Mobile Trader and API.
- Low finance fees.
- You have access to the underlying and best execution (Smart Order Routing).
- Account protection of over $500,000.

We hope you compare us to the others and make the best choice for you.

 

[Pat494]

Had an email this morning announcing the arrival of IB's CFD product.

Details are:
- large-caps only (looks like FTSE100 stocks)
- sliding scale coms starting at £5 min, for trade values <£1m (down to 0.015% for trade values >£500m)
- financing from LIBOR+1.5% (falls to L+1% above £70k balance and L+0.5% above £700k)
- 10% margin.

Looks a reasonable deal, particularly on financing.

I think £5 minimum for less than £1million is expensive. My trades are a long way less than £1m each.
Is it £5 per point minimum as per SBs or £5 per trade minus profit/loss ?

 

[jtrader1001]

I agree this is a little costly...well compared to other brokers. Commissions are getting a lot more competitive with bothe CMC and IG dropping them recently!

 

[Interactive Brokers]

JTrader, just out of curiosity are you an employee of a broker?

 

[jtrader1001]

I'm not but I do trade for myself- I take it you work for Interactive...if you were trading for yourself who would you trade with?

 

[donaldduke]

I'm not but I do trade for myself- I take it you work for Interactive...if you were trading for yourself who would you trade with?

why does your vendor tag tool tip say 'broker'?

 

[donaldduke]

Interactive are still a good broker, but CMC and IG are prbably more competitive now.

I dont trade CFDs but if CMC or IG CFD fill quality is anything like their spread bet offering i wouldn't touch them with a barge pole.

 

[Interactive Brokers]

Yes, I work and represent Interactive Brokers, that is why we make it transparent in our username. Your profile says broker? Hence, I took it that you have or work for a broker.

 

[anley]

I haven't used IB for CFDs, but overall they're one of the best out there, unless you have the misfortune of contacting their customer support.

But to be fair to them they do make it clear that help is not their forte. Many of their clients never need to contact them and most of these sing their praises.

Basically you get what you pay for, so if you want tip-top customer service IB is not for you.

 

[donaldduke]

I haven't used IB for CFDs, but overall they're one of the best out there, unless you have the misfortune of contacting their customer support.

I have probably contacted IB customers support 10 to 20 times in the last 7 years.

Only once can i remember being put through to someone who wasn't very good.

But maybe im more laid back than most people.. and take responsibility for my trading results even when it is my broker who screws up.

 

[mas1968]

Hi all

Is it possible to trade FX with CFD on interactive brokers? And what about my favourite FDAX? CFD available?

Greetings,
Marco

 

[Interactive Brokers]

Hi all

Is it possible to trade FX with CFD on interactive brokers? And what about my favourite FDAX? CFD available?

Greetings,
Marco

You cannot trade FX via CFDs with us. You can trade spot FX, convert your funds through our FX platform and you can trade FX exchange traded products.

We only offer CFDs for FTSE 100 shares and Australian exchange traded products.

 

[mas1968]

So if I unterstand you right, it is not possible to enter a leveraged FX trade? For example, I invest 1000 EUR but the order is worth 100000 EUR .... (= leverage 100)

 

[Interactive Brokers]

So if I unterstand you right, it is not possible to enter a leveraged FX trade? For example, I invest 1000 EUR but the order is worth 100000 EUR .... (= leverage 100)

Yes, you can trade spot FX with us, which is available on leverage. For the aforementioned we do not consider it via a CFD, so maybe there is the confusion in terminology.

 

[hasanalali]

i trade CFDs with GFT

 

[mas1968]

You cannot trade FX via CFDs with us. You can trade spot FX, convert your funds through our FX platform and you can trade FX exchange traded products.

We only offer CFDs for FTSE 100 shares and Australian exchange traded products.

So, I will be able to trade the listed DAX CFD from the Sydney Future Exchange, right?

 

[bonusguy]

Hello,

@Interactive Brokers:

I would like to extend the question of mas1968. Is it possible to trade the major indices, i.e. DJ30, Nasdaq100, DAX30, FTSE100, CAC40 as CFDs with IB?