Best Thread Interactive Brokers

[goodtyneguy]

Mr Perez or def,

1) Could you kindly provide us with a list of SIPP administrators/trustees that you work with.

IB is currently designing a SIPP account structure. We are in discussions with several SIPP administrators who will manage the accounts. Until the account is available, and the negotiations have been finalized, it would be inappropriate to discuss which specific administrators will work with us.

Thank you for your reply.

1) Can you give me an idea of when the SIPP account is likely to become available and is it possible to pre-register in order to be notified of this event.

We are expecting SIPPs by mid Q1, but possible even by end Q4 on a limited basis.

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?

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.

That's understandable, the reason I ask is that I have been patiently waiting with monies held in a protected rights pension fund which is very restrictive on investment choices. The safest choice within the scheme is their cash fund and as the base currency is in sterling I'm keen to either get it to work or position it in a stronger currency. I have the choice to move it to my exisiting SIPP where there is a little more choice but decided to wait for the IB structure.

I am concerned about the rapid decline in sterling so if you can make any comment which would be helpful please do so.

Dear Gentlemen

Per your regards for SIPP Accounts...we would like to accomodate requests for all of our clients around the world but sometimes it is not possible. With respects to SIPP, "yes" we have received requests for SIPP accounts and we are still considering it, but we need more feedback from more clients.

We encourage our customers to submit suggestions for future technology enhancements and to vote and make comments on these suggestions in our feature poll.

http://www.interactivebrokers.com/en/accounts/acctMgmtGuide.php?ib_entity=uk

Thank you!

THIS IS DESPICABLE BEHAVIOUR, DO YOU NOT CONSIDER WHAT AFFECTS YOUR DIALOGUE MAY HAVE ON PEOPLES FUTURE PLANS?

STOCKBROKING AND OTHER PROFESSIONS (AT LEAST IN THE UK) WERE ALWAYS FOUNDED ON THE PRINCIPLE OF DICTUM MEM PACTUM - MY WORD IS MY BOND - HOW ABOUT IB?

BOTTOM LINE: I HAVE WASTED 3 MONTHS HOLDING ONE OF MY PENSION SCHEMES IN CASH AWAITING WHAT HAS BEEN CONSTRUED AS AN IMMINENT LAUNCH OF A SIPP ACCOUNT.

MY WAIT IS OVER AND WITH NO THANKS TO INTERACTIVE BROKERS!

(To the members of Trade2win: Please accept my apollogies for shouting but this type of behaviour from anyone infuriates me never mind a prima facie reputable company. Thank you for your understanding).

 

[Interactive Brokers]

RESPECTFULLY, when we plan on future developments there are a lot of things that go into planning and development e.g., research, market conditions, regulatory requirements, operational issues, other product developments, testing, and etc.

When we have been asked to comment via email or on this board we try to exchange our opinions and answer to the best of our ability. But we are limited what we can and/or not say for various reasons.

Hence, for future developments (e.g., including SIPP accounts) we thank you that you would like to open a SIPP account with us, but we have never said we would not offer a SIPP account. We do not give exact dates rather we give estimates, for the launch of any product or business offering because we do not want clients to expect something on an exact date. Moreover, delays can occur in the development and launch of a product for various reasons.

That is, only when the product is about to be released will we give out in advance an exact date. Further for competitive reasons we do not want to give out to much information to our competitors. We believe this is market practise in the commerical world.

We are sorry that you feel offended that we still do not have a SIPP account but we never said we would not offer a SIPP account. Hence, the issue is just when. Unfortunately we cannot provide you an exact date for the reasons outlined above and we now not dare to give you an estimate now, if it offends you or causes you further inconvenience.

Sorry for any inconvenience and thank you in advance for your patience.

THIS IS DESPICABLE BEHAVIOUR, DO YOU NOT CONSIDER WHAT AFFECTS YOUR DIALOGUE MAY HAVE ON PEOPLES FUTURE PLANS?

STOCKBROKING AND OTHER PROFESSIONS (AT LEAST IN THE UK) WERE ALWAYS FOUNDED ON THE PRINCIPLE OF DICTUM MEM PACTUM - MY WORD IS MY BOND - HOW ABOUT IB?

BOTTOM LINE: I HAVE WASTED 3 MONTHS HOLDING ONE OF MY PENSION SCHEMES IN CASH AWAITING WHAT HAS BEEN CONSTRUED AS AN IMMINENT LAUNCH OF A SIPP ACCOUNT.

MY WAIT IS OVER AND WITH NO THANKS TO INTERACTIVE BROKERS!

(To the members of Trade2win: Please accept my apollogies for shouting but this type of behaviour from anyone infuriates me never mind a prima facie reputable company. Thank you for your understanding).

 

[wmbelg]

Please can you confirm if you are referring to CME Random Length Lumber Futures?

Yes I can confirm that i am referring to the CME Random Lenght Futures (and options) now available on Globex.

Spread are resonable tight (when i look at cme real time quotes) so it is tradable.
Unlike Cotton and Sugar on globex (both have large spreads), I think that traders are actually using globex too.

 

[wmbelg]

Not me.

Lumber is one of the plug uglys. Lovely looking trends but imagine the complaints and whinging IB will get when customers are long and they get stuck with 3 or 4 locked limit down days.

The pain of uncontrollable loss. It will happen to you.

Those who bought oil at 145$ and didn't take their losses in time, have lost also 100k$.

My account has a cash at around 35k$ . This allows me to trade almost fully covered YM, MKD, NIY completely covered.
If you stat using marging for these contracts, your cash can be wiped out as quickly as when I should trade 1 lumber.


For currency futures I sometimes go up to 100k$ contract, but i will never engage in 5 such contracts at the same time.

So a lumber at 175 to 250$ is no problem in risking margin calls or so for me.

 

[nine]

Do you not even understand lock limit days? Oil and lumber are extremely different contracts.

Stop choking this thread with your foolish pleas for Interactive Brokers to make an unwise divergence from their core business. They are in the business of providing fast efficient low cost electronic access to liquid and popular markets.

If you want to trade lumber, milk, pigs feet, or palladium then get a full service broker. They will make you feel better when you finally learn about the joys of thin and nasty contracts. Do that and come back in a year to tell us how much fun it was.

IB have enough trouble dealing with the more stupid amongst their customer base without adding these contracts.

 

[wmbelg]

Do you not even understand lock limit days? Oil and lumber are extremely different contracts.

Of course I know what limit-up and limit-down days are. I m not stupid as you may think.

We had some limit-up days in lumber in last weeks: maximum 10$ movements/day allowed.
In November there were twice limit down-days in NKD, Nikkei down 1000 points.

This would have meant a loss of 5000$ (one limit down day in Nikkei) , then you need to have at least 5 limit down days in lumber to have the same loss (in absolute terms).

.

Lumber is just very low and chances that it goes up are greater than a further decline. So risk/reward is ok. At these prices I woyuldn't go short on it.

 

[wmbelg]

Do you not even understand lock limit days? Oil and lumber are extremely different contracts.

Stop choking this thread with your foolish pleas for Interactive Brokers to make an unwise divergence from their core business. They are in the business of providing fast efficient low cost electronic access to liquid and popular markets.

Sugar is available through globex, trades not many contract. I see more action on the real time prices on globex lumber

IB allows trading in UX Uranium (cash settled), the most illiquid market of all futures market

If you want to trade lumber, milk, pigs feet, or palladium then get a full service

palladium is available through IB
Why do i need a full service broker? Lumber is just a click away on the Globex platform.



broker. They will make you feel better when you finally learn about the joys of thin and nasty contracts. Do that and come back in a year to tell us how much fun it was.


IB have enough trouble dealing with the more stupid amongst their customer base without adding these contracts.

Then they could have minimum account balance to allow trading this product. My account covers completely 2 contracts, I could ride these down to eventually zero.

 

[davie]

CFD's

Interactive Brokers strategy is to provide our clients new value. For example, last year we provided multiple free upgrades to our software, we added new exchanges and services.
We are always considering new products, exchanges, features, services and etc. If we get considerable interest/feedback in adding CFD's to our product list we will consider it.

Do IB offer cfd's ?...what are the costs involved in opening an account, min balance etc.
Are there any restrictions or conditions applicable for UK residents ?
Thanks
Davie

 

[Interactive Brokers]

Interactive Brokers policy is to only support exchange listed regulated products (e.g., shares, options, futures, bonds, ETF's and etc). The only exception is forex which we also support. Considering CFD's are not exchange listed products with the exception of Australian CFD's (which we do support), we do not support OTC...CFD's.

The costs and fees to open an account with us for an individual are:

- $10,000 minimum deposit or the equivalent in another base currency;
- $10 minimum brokerage fee, per month;
- Interactive Brokers brokerages fees applicable http://www.interactivebrokers.com/en/accounts/fees/commission.php?ib_entity=uk
- Market data fees applicable http://www.interactivebrokers.com/en/accounts/fees/marketData.php?ib_entity=uk

Other fees may apply.

All of our fees, terms and conditions are transparently denoted on our website www.interactivebrokers.co.uk so you can compare us against our competitors.

There are no restrictions for UK clients with the exception that we do not take on beginners, as we are a non discretionary broker/dealer i.e., we do not give advise. Hence any new client should have minimum amount of experience and have good knowledge, so they can trade for thier own account.

Do IB offer cfd's ?...what are the costs involved in opening an account, min balance etc.
Are there any restrictions or conditions applicable for UK residents ?
Thanks
Davie

 

[DallasSteve]

Does Interactive Brokers (in the United States) allow traders to short stock options in a margin account (AKA naked puts and calls)? I know there are limitations in shorting stocks, but I don't know about stock options. Do I need to take any special steps to activate that ability?

Thanks

Steve

 

[wmbelg]

Yes we are now interactive with InteractiveBrokers with Globex Lumber!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

I will go get my axe and start cutting trees.

Thank you InterActiveBrokers

 

[viclondon]

Is this still the IB thread or has it become a demential lumber thing?
This was one of the most useful threads before it got incredibly derailed into nonsense.

If this still regards IB can someone help me about FX Trader?
I would like to place stop orders but when I try to do so it does not allow me to specify a price; how can I enter a stop order without a price?
I have read the instruction manual, but for some reasons it does not spend more than a few words about FX Trader.
Many thanks

 

[gc1]

I would like to place stop orders but when I try to do so it does not allow me to specify a price; how can I enter a stop order without a price?

Do you mean without a limit price ? Are you sure you are selecting an order type of STP and not STP LMT ? It's a good idea to request a paper trading account (through their web interface) which can then be used to practice driving TWS without risk of losing money through mistakes.

For real trades remember the stop is based on middle market price so the fill will be slightly worse than the stop price.

 

[viclondon]

Do you mean without a limit price ? Are you sure you are selecting an order type of STP and not STP LMT ? It's a good idea to request a paper trading account (through their web interface) which can then be used to practice driving TWS without risk of losing money through mistakes.

For real trades remember the stop is based on middle market price so the fill will be slightly worse than the stop price.

What I would like to do is to place a stop loss order at a certain price: let's say I buy something at 100 and want to place a stop at 95. I seem to be able to specify a price for limit order, for example I am able to place a sale for the same at 110, but if I choose stop in the order line the case for entering the price is nomore available.
How does the Stop limit works?
Yes you are right about the paper trading, I should have done that as in the first few days I lost money for a lot of mistakes in orders. Now it is starting to go really well, the problem is that since I cannot place stop order I cannot leave the screen

 

[gc1]

What I would like to do is to place a stop loss order at a certain price

Try the following in FX Trader:

Click on a price.

Do NOT click on the T (transmit)
right click on the limit price to the left of the blue or red 'T'
select 'Modify' 'Order Ticket'

change the 'Order Type' from LMT to STP

by default it fills-in a stop price which is 1.0000 away from the market,
change this to the stop price you actually want.

click either 'Transmit' or 'Accept'

There is probably a faster method with hot keys - but this will do the job.

A stop limit order becomes a limit order when the stop price is hit, so
it limits the price, can be useful if you use a stop to enter a trade to
avoid entering with a poor price on a spike.

 

[viclondon]

Thanks a lot GC1,
I will try that. It is a bit slow, but when placing the stop order speed is not that critical.
Will let you know if it works.
I believe the stop distance can be configurated for each simbol (which can be very useful), I will try to figure out what the 1.000 away means

 

[xorzp]

I am interested in opening an account with IB and have already submitted the online application. However, I have some questions about the requested document. I sent an inquiry using the online form and also created a "WebTicket", but I have not received any response for almost 2 weeks now. It certainly doesn't make a good first impression toward IB. Does anyone find it troublesome to contact them when having trade problems?

I will leave my questions here in case someone at IB is more willing to answer them here. I would be thankful if anyone who has been in similar situation helps answer some of them.

- I need to submit a proof of address. However, all my documents are in Thai language as I am living in Thailand. Do I need to make a translated copy? If so, what is the procedure for the translation? If I have my bank in Thailand issue an English statement, would it be acceptable?
- The online page shows that I should submit the W-8 Addendum. Do I need one? If so, where can I get the form?
- Can I make a wire transfer to/from a bank account not in my name? What about ACH?
- Would there be a problem if I delete and re-create the funding instruction for the initial deposit?

 

[Shazam75]

Hello
I want to buy and sell options on the London and German Stock Markets - please tell me what market datafeed I need to subscribe too.

Any does anyone know where I can see Option Chains for these markets like the one on the morningstar site? e.g.
DE: Deere & Company Options - Morningstar

Thankyou!

Thanks

 

[MrMiyagi]

Hello
I want to buy and sell options on the London and German Stock Markets - please tell me what market datafeed I need to subscribe too.

Any does anyone know where I can see Option Chains for these markets like the one on the morningstar site? e.g.
DE: Deere & Company Options - Morningstar

Thankyou!

Thanks

either Euronext/Liffe equity derivatives and Eurex equity derivatives... check the relevant websites for volume figures for what it is you want to trade and go with whoever does the most business...

 

[Benedetti]

Hello. I can't trade TF contracts (e-mini Rusell 2000). I don't get data from IB. I folow the same steps as to trade YM, NQ or ES, but I never get TF data. Do you know of any reason why this could be so? Thanks.