Best Thread Interactive Brokers

[bilal1974]

Hi Guys!
A Newbie here so please expect a stupid question
can someone please let me know any online broker who provides margin trading for equities (not CFDS) and does not require huge depoit to open an account. My Limit is Below £4000.
Thanks in Advance!
StockToddler

 

[goodtyneguy]

Hi Guys!
A Newbie here so please expect a stupid question
can someone please let me know any online broker who provides margin trading for equities (not CFDS) and does not require huge depoit to open an account. My Limit is Below £4000.
Thanks in Advance!
StockToddler

It's not a stupid question but it's hardly the right place to ask it, from the first post in this thread:

This thread has been started by T2W purely for customers or potential customers of Interactive Brokers to direct questions to IB (or indeed other members)

With regards to IB you will find the answer to your question on their very informative website.

 

[johnlvs2run]

goodtyneguy you could have answered the question - had you had known the answer.
For your own information, IB has not been responding to questions directed to them on this thread.
Also their site is rather ambiguous, and not all that informative - ditto for the TWS software.

In my way of thinking if a company is not prepared to give one the time of day before one becomes a customer then that behaviour is unlikely to change by becoming a customer.

bilal1974, I don't know the answer but perhaps someone else will post who does.

 

[goodtyneguy]

goodtyneguy you could have answered the question - had you had known the answer.
For your own information, IB has not been responding to questions directed to them on this thread.
Also their site is rather ambiguous, and not all that informative - ditto for the TWS software.



bilal1974, I don't know the answer but perhaps someone else will post who does.

If you encourage people to go off topic the likely out come is you'll end up with a whole conversation with little relevance to the original purpose of the thread. Why did n't the poster start a new thread under brokerages instead of hijacking this thread.

If I recall correctly I've seen few instances except for the last few weeks where IB or someone else has n't answered a question on this thread when the question was about IB. I expect IB to be a long shortly to clear them up.

If you are an existing customer why don't you use the normal chanels of communication in a business relationship e.g telephone, email or even snail mail if something is vitally important and you want to get to the top. That may not even be necessary as the MD displays his email address in the brokerage review section, I've never seen this before.

 

[ibj]

Thanks for the kind words, in fairness to IB they have consistently replied to queries since this thread started even though I had to bump my original enquiry. In my way of thinking if a company is not prepared to give one the time of day before one becomes a customer then that behaviour is unlikely to change by becoming a customer. That brings me on to your point about the poll, unfortunatley it's only for existing customers.

I think it is easier for them to conform to SIPP requirements because in the main this is probably just an IT issue i.e. developing their IT systems to restricit the activities that can take place within their universal account and electronically integrate with SIPP administrators. Once this becomes acceptable to the administrators they can accept responsibility for compliance issues and legal liability for the regulation of the SIPP.

As I understand it, (and of course I may be wrong)ISA regulation can not be farmed out to an independant administrator similar to the SIPP model. This would leave IB with the only option but to become a registered plan manager with HMRC. From a previous comment here from IB it appears this is something they are not prepared to embark upon. This is a real shame as IMO they would literally corner the market in ISA's based on what they have to offer in comparison to UK plan managers. They would probably have to increase their present fees to pay for the increased costs of structural changes and administration costs. I'd imagine they'd still remain very competitive if one considers IMO the extortionate costs of other ISA plan managers. That's if you can consider any of the UK offerings competitive e.g. who offers level two DMA to NYSE?

It is for the same reasons I expect their SIPP compliant account to be a big hit once it's launched.

Come in IB....

We are doing the SIPP first because we have had interest from significant SIPP providers. We are not planning to become a administrator ourselves because we try to stay close to our core expertise which is trade execution.
If we had similar interest from ISA providers, we would consider that account type as well.

 

[goodtyneguy]

We are doing the SIPP first because we have had interest from significant SIPP providers. We are not planning to become a administrator ourselves because we try to stay close to our core expertise which is trade execution.
If we had similar interest from ISA providers, we would consider that account type as well.

Thank you for your reply.

Are you still on target for the mid 1st quarter launch date for the SIPP?

 

[johnlvs2run]

If you encourage people to go off topic the likely out come is you'll end up with a whole conversation with little relevance to the original purpose of the thread.

Well then I certainly won't be encouraging you.

As a retired real estate broker, when someone would ask me about running, I would gladly listen
and talk with them, or if they wanted to talk about their hobbies, or their kids. Why not??????
If someone responded like you, "hey why don't you check with a running club, and I'm not interested in your family,
I'm here to sell you a house", what do you think their response would be.

They would think that you were an idiot and kick you out of their house.

Anyway, back to trading.

 

[jeffsmith]

There are brokers in the market telling about the market scenario. You can also find many online brokers also who are providing daily analysis of the market. In addition, they are updated on the regular basis. If you see with AVAFX, you will find it with this broker. They have the facility of technical analysis

 

[bfirth]

quick question,
I'm attempting to open a new account at the moment but even tho I'm telling it I'm from the UK it wants a Social Security Number which of course i don't have.
It wont take a national insurance no. iv tried phoning the London office no reply, and the chat/help just sits saying it connecting but never does.
not the most promising of starts, can anyone help?

 

[Benedetti]

I want to buy/sell $4,000 worth of stocks in every trade. Is there a way to get TWS to calculate the number of shares? I have tried ticking the box "Use default amount to calculate size" in "Order Defaults", and wirting 4000 in "Default Amount", but TWS rounds up the number of shares to trade in 100s.

Do you know how to do this or do you know of any partner program that can do it? Thanks very much.

 

[bfirth]

quick question,
I'm attempting to open a new account at the moment but even tho I'm telling it I'm from the UK it wants a Social Security Number which of course i don't have.
It wont take a national insurance no. iv tried phoning the London office no reply, and the chat/help just sits saying it connecting but never does.
not the most promising of starts, can anyone help?

simpel answer i was using opera which for some reason had a problem IE workes fine

 

[Adamus]

Hi Benedetti, why don't you ask IB direct via their website? Generally speaking they're quite good at replying with a useful answer.

bfirth, you must be doing something wrong. IB never asked me for a social security number, or if it did, i left it blank or something obvious that I don't remember. i'd try starting a new application.

 

[johnlvs2run]

TWS rounds up the number of shares to trade in 100s.

I believe that even 100's trade more quickly.

 

[goodtyneguy]

Well then I certainly won't be encouraging you.

As a retired real estate broker, when someone would ask me about running, I would gladly listen
and talk with them, or if they wanted to talk about their hobbies, or their kids. Why not??????
If someone responded like you, "hey why don't you check with a running club, and I'm not interested in your family,
I'm here to sell you a house", what do you think their response would be.

They would think that you were an idiot and kick you out of their house.

Anyway, back to trading.

Thank you for the great post John, I have never laughed so much for a long time. In fact it was bed time for me in the UK when I first read it and could n't sleep for laughing, great stuff. I do however think that your analogy has no relevance to a thread such as this the purpose of which was made clear by one of the administrators of the board in the first post.

Well then I certainly won't be encouraging you.

If you did I and I'd thought a number of exchanges were imminent I would have suggested moving the conversation to a new thread in the appropriate segement of the chat board e.g. The Lounge. I suspect most people who come to this thread are busy working people and come here in the hope of quickly finding an answer to a query they have about IB rather than to chat about all and sundry. I therefore think it's inconsiderate to expect other people to have to scroll through a thread which is clogged up with other peoples irrelevant chat.

 

[lacloudchaser]

Folks, I'm looking hard at moving to IB this week. My group is currently working on an autotrader for the YM and NQ, there was some talk of issues with IBs datafeed. I do not know details but I will ask an open forum, if anyone would like to comment positively or neg on IB data or their experience with IB before I pull the trigger, please respond. Thanks

 

[nine]

IB data feeds (there are two) are fine if you understand what they are:

- live feed provides a packet every 100-200ms with a price and a volume reading (that will be accurate to the extent that the exchange provides accurate live vol). this gives rise to tick counts that are less than true tick feed vendors but means that there is no delay in fast markets. each packet provides only one price tho so in a busy market you will miss a bar high or low 4 or 5 times a day.

- 5 second feed provides an ohlcvt bar at the end of every 5 seconds missing no data (but not a "true tick" either).

With Sierra Chart we can combine 5 sec and live to give charts that are up to the 10th of a second and are accurate (all high and low prices) but tick counts will never be "true" tick counts.

 

[lacloudchaser]

Thanks for the response, this issue is not present in IB data from the major equity markets correct? Or is this across the board. There is no issue with OHCL and V data quality and rate of transmission from the US eq. markets?

Rumor: IB does not allow/proved margin on futures trading? (intraday). This is incorrect no?

Ameritrade has currently announced the purchase of a futures/forex broker (thnkswm), if I can negot. a commission rate along that at IB it might work. Currently use Ninjatrader platform and have experience with sierra charts. I wanted to keep my trading cap. combined together with one multi-service broker to maximize leverage, I may be asking for too much

Thanks for the response!

Drew

 

[Interactive Brokers]

Dear Prospective Client

In our online application the section to what you are referring to has a drop down menu. Hence, you can choose something else (e.g., other then passport number or etc) if you are a non US resident.

Thank you
Interactive Brokers

quick question,
I'm attempting to open a new account at the moment but even tho I'm telling it I'm from the UK it wants a Social Security Number which of course i don't have.
It wont take a national insurance no. iv tried phoning the London office no reply, and the chat/help just sits saying it connecting but never does.
not the most promising of starts, can anyone help?

 

[goodtyneguy]

Thank you for your reply.

Are you still on target for the mid 1st quarter launch date for the SIPP?

bump

 

[Interactive Brokers]

Thank you for your interest, but unfortunately we cannot comment to much regarding future business developments because we do not want to give to much away to our competitors.

Please stay tuned. If so, I will try to let you know once we have a definite public disclosure on the subject.