Best Thread Interactive Brokers

[bugmenot2]

Edit: think I've found the answer, after choosing Wire Transfer it gives the option for me to wire GBP to IB's London branch. I'll leave the question here incase anyone searches the T2W forums with a similar question.

Another question, related to my question on the previous page (UK trader seeking to trade on the NASDAQ)

I'm in the process of opening a universal account at interactivebrokers.co.uk, earlier in the application process I've confirmed that I'm in the UK, set GBP as my base currency, given details of my funds in GBP, but have run into a problem at the "Choose a Deposit or Transfer Method:" page. A help page is available showing the options I am given. The problem I have is a lack of deposit options from a UK bank, the only deposit option available from a non-US/Canadian account is Wire Transfer, which my bank will charge a hefty foreign exchange fee on, likewise if/when I withdrawal profits I'll likewise be hit with an extortionate fee.

The point of my previous questions was to find a way to open an account in GBP, and use forex to convert it to USD, without having to lose approx $1000 to my bank in fees / dodgy exchange rates.

Am I missing an option, is there a way to deposit GBP into an account, or must I convert the money to USD first?

 

[ammo]

option for me to wire GBP to IB's London branch. I'll leave the question here incase anyone searches the T2W forums with a similar question.

Another question, related to my question on the previous page (UK trader seeking to trade on the NASDAQ)

I'm in the process of opening a universal account at interactivebrokers.co.uk, earlier in the application process I've confirmed that I'm in the UK, set GBP as my base currency, given details of my funds in GBP, but have run into a problem at the "Choose a Deposit or Transfer Method:" page. A help page is available showing the options I am given. The problem I have is a lack of deposit options from a UK bank, the only deposit option available from a non-US/Canadian account is Wire Transfer, which my bank will charge a hefty foreign exchange fee on, likewise if/when I withdrawal profits I'll likewise be hit with an extortionate fee.

The point of my previous questions was to find a way to open an account in GBP, and use forex to convert it to USD, without having to lose approx $1000 to my bank in fees / dodgy exchange rates.

Am I missing an option, is there a way to deposit GBP into an account, or must I convert the money to USD first?[/QUOTE]
contact [email protected]....1-312-327-4864 cheap rates complete service.
maybe u could open us acct at harris bank,,all firms clear there and wire to your bank withe money order

 

[Charlton]

Edit: think I've found the answer, after choosing Wire Transfer it gives the option for me to wire GBP to IB's London branch. I'll leave the question here incase anyone searches the T2W forums with a similar question.

Another question, related to my question on the previous page (UK trader seeking to trade on the NASDAQ)

I'm in the process of opening a universal account at interactivebrokers.co.uk, earlier in the application process I've confirmed that I'm in the UK, set GBP as my base currency, given details of my funds in GBP, but have run into a problem at the "Choose a Deposit or Transfer Method:" page. A help page is available showing the options I am given. The problem I have is a lack of deposit options from a UK bank, the only deposit option available from a non-US/Canadian account is Wire Transfer, which my bank will charge a hefty foreign exchange fee on, likewise if/when I withdrawal profits I'll likewise be hit with an extortionate fee.

The point of my previous questions was to find a way to open an account in GBP, and use forex to convert it to USD, without having to lose approx $1000 to my bank in fees / dodgy exchange rates.

Am I missing an option, is there a way to deposit GBP into an account, or must I convert the money to USD first?

bugmenot2

Just to re-iterate/clarify what IB said. You can go to your UK bank and ask for a CHAPS transfer form. On the IB website once you have opened your account you will need to go into account management and then funds management and then deposits and transfers. Choose wire transfer and this will lead you through the process. The purpose of this is to inform IB in advance of your deposit to ensure it does not go astray. Take printouts of the deposit information, the notes about IB's bank details etc for the CHAPS form.

The money could well clear overnight and you should see it appear in your IB account under "view account" in Trader Workstation amongst other places. It will be shown under both the currency balance in GBP and your base currency, also in GBP.

You will then be able to trade in any market for which you have trading permissions. If you buy US shares and then sell for a profit you will see the profit appear under currency USD and also it will be reflected in the base currency GBP converted at the time of the view/statement.

When you complete the wire instructions for withdrawal you will be asked the currency in which you wish to withdraw funds. Conversion rates for e.g. USD to base currency in the IB account are, for example, shown on the statements

Hope this helps a bit.

Charlton

 

[mikka]

Hi I just wanted to know if you offered WTI trading on Globex.

 

[idetkov]

If you mean WTI NYMEX futures on GLOBEX platform, then the answer is positive.

 

[mikka]

NYMEX WTI Future

If you mean WTI NYMEX futures on GLOBEX platform, then the answer is positive.

Thanks for your reply.

Is the Nymex WTI Future simultaneously traded on the pit and on Globex? And if its the same contract where are IB orders for NYMEX WTI routed?

I'd appreciate any info on this.

 

[idetkov]

My bad. http://www.cme.com/trading/prd/nymex/index18612.html contains list of all NYMEX futures available on GLOBEX electronic trading. It does not have WTI.
WTI futures are available on ICE.

 

[firewalker99]

chart problems

Has anybody noticed how IB charts always seem to lock up or give incorrect volume readings? I've heard of several people complaining and as of late I'm experiencing the issue myself, and I must say it's very annoying if you use volume in your trade analysis...

 

[Interactive Brokers]

Has anybody noticed how IB charts always seem to lock up or give incorrect volume readings? I've heard of several people complaining and as of late I'm experiencing the issue myself, and I must say it's very annoying if you use volume in your trade analysis...

Firewalker

If there is a problem with our charting package you can

1. Contact the helpdesk or send a ticket. Afterwards we will investigate and address your problem.
2. You can contact our local office in London tel 020 7 776 7800 and ask for the Managing Director. He will personally review your query and follow-up.

 

[firewalker99]

Firewalker

If there is a problem with our charting package you can

1. Contact the helpdesk or send a ticket. Afterwards we will investigate and address your problem.
2. You can contact our local office in London tel 020 7 776 7800 and ask for the Managing Director. He will personally review your query and follow-up.

I know, I was wondering how many other members are experiencing the same issue.
Especially since I have been experiencing the issue on several occasions and creating problem tickets haven't helped as they remain unanswered. Unless it's normal to get a reply like "if you see no volume bars the contract is not currently being traded" (for a futures e-mini) a satisfactory answer. :|

 

[Interactive Brokers]

I know, I was wondering how many other members are experiencing the same issue.
Especially since I have been experiencing the issue on several occasions and creating problem tickets haven't helped as they remain unanswered. Unless it's normal to get a reply like "if you see no volume bars the contract is not currently being traded" (for a futures e-mini) a satisfactory answer. :|

Firewalker

If you do not believe you are being serviced properely you can contact our UK local office tel 020 7 776 7800 (ask for the MD) and he will personally review your query.

 

[ljyoung]

Has anybody noticed how IB charts always seem to lock up or give incorrect volume readings? I've heard of several people complaining and as of late I'm experiencing the issue myself, and I must say it's very annoying if you use volume in your trade analysis...

Hi Firewalker,

Your observation concerning "incorrect volume readings" is something which I have touched upon in several threads in the past. Prolongued (and helpful) conversations with IB techies gave the following bottom line which applies to US equities (it may apply to other entities but I can't say anything about it):

Unless you refresh your chart frequently (every minute if you work from a one minute time bar as I do) the volumes (and for that matter the candle conformations) are not "at equilibrium".

For a graphic demonstration of this phenomenon check the "Yoiks" thread on the "Daytrade/ Scalping" board. FWIW, IB is very upfront about the need to do this.

lj

 

[firewalker99]

Hi Firewalker,

Your observation concerning "incorrect volume readings" is something which I have touched upon in several threads in the past. Prolongued (and helpful) conversations with IB techies gave the following bottom line which applies to US equities (it may apply to other entities but I can't say anything about it):

Unless you refresh your chart frequently (every minute if you work from a one minute time bar as I do) the volumes (and for that matter the candle conformations) are not "at equilibrium".

For a graphic demonstration of this phenomenon check the "Yoiks" thread on the "Daytrade/ Scalping" board. FWIW, IB is very upfront about the need to do this.

lj

Thanks for the info Ijyoung! I did notice some posts around this issue, but there is a difference between incorrect volume readings and discrepancies like the ones I'm experiencing... how about 50 lots being traded on 5 min instead of 5000? :-0

To be honest I've never experienced it before until last couple of days...

 

[ljyoung]

Thanks for the info Ijyoung! I did notice some posts around this issue, but there is a difference between incorrect volume readings and discrepancies like the ones I'm experiencing... how about 50 lots being traded on 5 min instead of 5000? :-0

To be honest I've never experienced it before until last couple of days...

I agree. You appear to have been experiencing a different phenomenon. LoL (lots of luck) figuring out what sounds to be a nasty mess.

lj

 

[jimmy1jag]

This has been happening on LIFFE futs too, just since today though.

A right pain!

 

[Spam Man]

Whilst I am a huge fan of the new graphic showing a wondrous stream of binary between what I assume to be my PC and the IB server when I try to generate a daily statement, I am less keen on the fact that the report does not generate, with the error message "No statement available. Please go back and select a different date.".

Customer service told me there is a technical problem and to try again every 10 minutes or so, which was about an hour ago, and still no joy. An IB reps got a more definitive update?

 

[Spam Man]

OK everybody, calm down for God's sake, the panic is over. It's been fixed.

 

[landre]

The histogram on Booktrader does not update on my system. It shows correctly when I first open Booktrader, but does not update. problem reported but no response.

Anybody experiencing the same problem?

 

[firewalker99]

I agree. You appear to have been experiencing a different phenomenon. LoL (lots of luck) figuring out what sounds to be a nasty mess.

lj

Yes it is nasty indeed... look at this for example, the volume mysteriously disappears!

 

[top trader]

interactive broker-

at the moment i am spreadbetting UK shares and INDEX trading in dow and other indices.
do you allow margin trading like spreadbetting companies do?
if i trade,for example, 5000 shares in rio at 2800p what short of margin you require?

what is the difference between universal account and normal IB account?

many thanks