Best Thread Interactive Brokers

[Andyclockwise]

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?

Anyone?

 

[def]

All you ask is on the IB website. This is a good place to start: http://www.interactivebrokers.com/en/accounts/universalAccount.php?ib_entity=llc

and for deposits:
http://www.interactivebrokers.com/en/general/about/ibgStrength.php

 

[royconago]

Hi

Iam looking for a good broker to trade with, i currently trade
CME - futures currency, grains, indexes.

Can someone confirm is it true that IB doesn't support intraday margin?
does IB charting support user-define tick chart?
is there a cancellation fees for futures trading and option trading?
What is the amount to open futures and option account?

Thanks for your reply in advance.

 

[royconago]

I am looking for a good broker to trade with, i currently trade
CME - futures currency, grains, indexes.

Can someone reply my questions?
- Is it true that IB doesn't support intraday margin?
- Does IB charting support user-define tick chart? for 20-25ticks chart?
- Is there a order cancellation fees for futures trading and option trading?
- What is the amount to open futures and option account?
- What is this Minimum brokerage fee $10 per month.
- Is it true that Market data fees, vary per exchange. For example to view US prices, $10 per month. If you execute over $30 of brokerage per month IB will waive the $10 market data fee.

Thanks for your reply in advance.

 

[royconago]

Hi

On top of the questions i have asked in this forums, i have some more questions.

I am from Singapore. i trade futures (CME, Eurex, APAC-OSE), option (indexes & Equity) & US stocks. I am a day trader for futures, position trader for options and stocks.

I will like to find out what are the charges if i plan to open an account with IB?

Thanks

 

[roscoe]

How exactly can I fund my IB account using my UK online banking?
Bill payment only USD? Do I use wire?
IB site is poor......... (

 

[def]

I am looking for a good broker to trade with, i currently trade
CME - futures currency, grains, indexes.

Can someone reply my questions?
- Is it true that IB doesn't support intraday margin?
-> NO, check the website under margins, intraday numbers are listed

- Does IB charting support user-define tick chart? for 20-25ticks chart?
-> I don't chart, you'll have to look this one up yourself, sorry.

- Is there a order cancellation fees for futures trading and option trading?
-> Futures - NO. Options in the US yes but there is a credit against executions. The exchange do charge so the costs are roughly passed on. Others not charging are charging higher commissions which cover their costs

- What is the amount to open futures and option account?
-> 10 K http://www.interactivebrokers.com/en/p.php?f=minimumDeposits

- What is this Minimum brokerage fee $10 per month.
-> $10 is the minimum charge per month. If you do over $10 in commission, there is no additional cost.

- Is it true that Market data fees, vary per exchange. For example to view US prices, $10 per month. If you execute over $30 of brokerage per month IB will waive the $10 market data fee.
-> True.

Thanks for your reply in advance.

I answered above but do note all the answers to your questions are readily available from the website at www.interactivebrokers.com

 

[def]

How exactly can I fund my IB account using my UK online banking?
Bill payment only USD? Do I use wire?
IB site is poor......... (

I just took 10 seconds to find this on the IB site:
Wire Same day electronic movement of funds through the fed wire system. You must contact your bank to initiate a wire. Please complete a Deposit Instruction on the Fund Transfers page in Account Management/Funds Management. You must instruct your bank to include your IB account name and number on the wire. Specific wire instructions and addresses will be displayed during the Deposit Instruction process.


The account management system provides all details when you make the notification. It is straight forward.

 

[def]

Hi

On top of the questions i have asked in this forums, i have some more questions.

I am from Singapore. i trade futures (CME, Eurex, APAC-OSE), option (indexes & Equity) & US stocks. I am a day trader for futures, position trader for options and stocks.

I will like to find out what are the charges if i plan to open an account with IB?

Thanks

All fees are here:
http://www.interactivebrokers.com/en/p.php?f=commission
There's a sliding scale so it depends on your volume. The flat rate starts at .85 cents per contract plus costs for US futures. US equity options start at 70 cents and slide down. There are NO exercise or assignment fees for US options. Refer to the site for the full list.

 

[roscoe]

I just took 10 seconds to find this on the IB site:
Wire Same day electronic movement of funds through the fed wire system. You must contact your bank to initiate a wire. Please complete a Deposit Instruction on the Fund Transfers page in Account Management/Funds Management. You must instruct your bank to include your IB account name and number on the wire. Specific wire instructions and addresses will be displayed during the Deposit Instruction process.


The account management system provides all details when you make the notification. It is straight forward.

Def...This gripe is against IB not you. The above does not answer my question!

IB if you are reading this:-
What? So I make my payment online which should then be automatic....then I have to contact my bank? What nonsense!

So "online payments" are filed under "wire"?

It is so easy to fund every other broker why are you so crap?

 

[goldmember1]

I'm looking at IB as well - not very clear for GB sign ups.

 

[def]

I think you're reading too much into it. Of course you need to contact your bank to do the wire.

The way it works is that you go to account mgmt where the wire info is provided. You enter the deposit notification on the IB side so they can electronically match the incoming fund when they arrive. At some point during this process you have to contact you bank or provide them with your instructions to initiate the wire. How else could they send the funds?

 

[Andyclockwise]

Def...This gripe is against IB not you. The above does not answer my question!

IB if you are reading this:-
What? So I make my payment online which should then be automatic....then I have to contact my bank? What nonsense!

So "online payments" are filed under "wire"?

It is so easy to fund every other broker why are you so crap?

I foud this difficult too and I used to work for a bank, the US terminology doesn't quite fit with UK banking terms. I simply used my online banking to send a payment to the sort code and account quoted on the instruction from the account management response on the IB site, when I "registered" my payment. Tried it first with a small amount and checked it hit my IB account ok.

 

[goldmember1]

Does anybody know whether the deposit you give can be used for trading - a note comes up that the deposit is seperate from my trading account

 

[royconago]

Does anyone know is IB consider as direct market access?

 

[Pavlec]

Hi,
I have some questions,I'm canadian and want to open a futures account.

1) Whats the requirements for opening a futures account for a canadian?
2) What are the fees for CME data or NYMEX data? Do I get it waived with +30$ per month?
3) What happen if I forget the end of contract? Will they liquidate my order or roll it over for the next month?

Thank you

 

[def]

IB is direct market access.

All the questions are on the web site. This is from the home page. Ditto for the Canadian questions. All the info is under fees and minimums. The US CME data is free if you do over $30 per month in commissions. Future contracts mostly expire to cash. There is no auto rollover.

from the home page:
Successful traders and investors understand that superior technology and low trading costs hold the keys to greater returns. Our clients benefit from IB's worldwide direct market access to stocks, options, futures, forex, bonds and funds, best price execution1, and low commissions. Interactive Brokers Group and its affiliates' equity capital exceeds $4 billion.

http://www.interactivebrokers.com/ibg/main.php

 

[Tantalos]

what's the difference between bundled & unbundled under commissions??

Many thankyou


Pedro

 

[royconago]

Hi

Can someone advice what is the commission from IB for the following products (assuming its a flat rate scheme)

financial futures
6A (AUD, CME Globex Electronic Markets)
6C (Cad, CME Globex Electronic Markets)
6E (Euro, CME Globex Electronic Markets)
6J ((Jap Yen, CME Globex Electronic Markets)


thanks

 

[gktk]

just to reiterate my experience with IB and transferring funds.

I setup my account in USD so had to transfer to their US bank. I regularly transfer money overseas so used my currency broker to transfer after my paperwork (ID, utlitlity bill etc.) was approved, took about a day to transfer.

No issues at all.

I foud this difficult too and I used to work for a bank, the US terminology doesn't quite fit with UK banking terms. I simply used my online banking to send a payment to the sort code and account quoted on the instruction from the account management response on the IB site, when I "registered" my payment. Tried it first with a small amount and checked it hit my IB account ok.