Brokerage/platforms terrible in Oz

[Steve-IB]

End of July? Monday or Tuesday?
:band

Looks like I'm going to miss the end of July. But it's very soon, we're testing this and the stock options daily at the moment.

 

[yonnie]

hi Steve,

see my post 154

any progress yet on the high volume orders?

thanks

 

[juw177]

Hi, I have one more question: if you dont subscribe to the market info real time feed thing, does that mean stop losses, trailing stops, etc will not work? Since it has no way of getting the current market price?

 

[DB008]

Try these guys. Voted best of everything for years and years and years. Cheap ` and a wicked platform.

http://www.tradestation.com/default_2.shtm

 

[trinity]

Try these guys. Voted best of everything for years and years and years. Cheap ` and a wicked platform.

http://www.tradestation.com/default_2.shtm

Hi DB008,

Have you used their services? How long have you been with them? What can you say are the good features apart of the reasonably quite cheap brokerage fees?

Thanks.

 

[Sir Burr]

Hi, I have one more question: if you dont subscribe to the market info real time feed thing, does that mean stop losses, trailing stops, etc will not work? Since it has no way of getting the current market price?

Good question! Be nice if there was a document on what the Trader Workstation does when you enter at trade and transmit it.

I've asked a few questions to support but have been unanswered. Maybe they are soooo basic questions but if they are left answered then I'm not comfortable with opening an account.

 

[professor_frink]

Hi DB008,

Have you used their services? How long have you been with them? What can you say are the good features apart of the reasonably quite cheap brokerage fees?

Thanks.

As far as I'm aware they don't do the ASX trinity. The commissions they are listing for equities is for the american market.

 

[oldpos]

Where are you, Steve!

I am becoming a little shy about the IB offer. I opened an account and sent my initial depost to the Sydney bank account via internet transfer. THAT WAS 6 DAYS AGO and I can't seem to get an acknowledgement from IB that they have received the money, therefore cannot trade. I have been to their site on online chat on 2 occasions and have since as requested emailed a copy of the transfer receipt showing all the details. Despite that I haven't even been given the courtesy of a one liner email acknowledging receipt of my email and advising that the matter was being investigated. I only sent the minimum amount to see how things went but as you can see, I am pissed off !!!

I am reluctant to post the above but it appears that is the only way I might get action.

 

[yonnie]

oldpos,

did you log into account management to see if the money is there?

 

[oldpos]

oldpos,

did you log into account management to see if the money is there?

Sure did. That's what caused me to question where my money was. I don't think it is unreasonable to expect an internet money transfer to be cleared within 24 hrs, perhaps a bit longer of they're doing it from USA and the time zone difference is to be taken into account. In any event I would expect a reply - my money could be already spent by someone holidaying in the Carrabean for all I know.

 

[yonnie]

oldpos,

I get a daily statement 1 day after transferring the money.

I suppose you sent it to Citibank in Sydney with your IB broking account number and your name. Did you verify IB`s bank account number after typing it and before sending the payment?

If you did all that then its a bit worrying. If you leave it up to IB it might take a while because its a big outfit and its not exactly nimble.

Steve is your best bet and you can email him on skelsey@interactivebrokers.com

 

[oldpos]

oldpos,

I get a daily statement 1 day after transferring the money.

I suppose you sent it to Citibank in Sydney with your IB broking account number and your name. Did you verify IB`s bank account number after typing it and before sending the payment?

If you did all that then its a bit worrying. If you leave it up to IB it might take a while because its a big outfit and its not exactly nimble.

Steve is your best bet and you can email him on skelsey@interactivebrokers.com

Gee thanks, yonnie.

Yes, I copied and pasted all the numbers so I wouldn't make a mistake. They've been doublechecked many times since.
Thanks for the email address, I'm sure Steve will attend to it. I have been quite impressed with his responses on this site.

 

[Steve-IB]

“any progress yet on the high volume orders?”
IB: We need to program this. I have requested it.

“if you dont subscribe to the market info real time feed thing, does that mean stop losses, trailing stops, etc will not work? Since it has no way of getting the current market price?”
IB: Your stops are held either at the exchange level or at the IB server level depending on the exchange (ASX = IB server level). Thus, the market data subscription does not affect these orders

“Try these guys. Voted best of everything for years and years and years. Cheap ` and a wicked platform. http://www.tradestation.com/default_2.shtm”
IB: If you like Tradestation charting then there are firms that have programmed connections between their charting platform and the IB Trader Workstation.

“I am becoming a little shy about the IB offer. I opened an account and sent my initial deposit to the Sydney bank account via internet transfer. THAT WAS 6 DAYS AGO and I can't seem to get an acknowledgement from IB that they have received the money, therefore cannot trade.”
IB: We can check receipts of funds – if you haven’t had a confirm from us, then it would suggest that we have not received them. Another possibility is that when you transferred them your bank did not include your IB account number in the reference field – if you did this via internet transfer then you would have been able to reference this. If there was no reference, then we will have no idea where or who or what these funds are for. The funds would then be returned to the sending bank. Just call the CS desk, they will be able to tell you if we have the funds.

 

[oldpos]

“I am becoming a little shy about the IB offer. I opened an account and sent my initial deposit to the Sydney bank account via internet transfer. THAT WAS 6 DAYS AGO and I can't seem to get an acknowledgement from IB that they have received the money, therefore cannot trade.”
IB: We can check receipts of funds – if you haven’t had a confirm from us, then it would suggest that we have not received them. Another possibility is that when you transferred them your bank did not include your IB account number in the reference field – if you did this via internet transfer then you would have been able to reference this. If there was no reference, then we will have no idea where or who or what these funds are for. The funds would then be returned to the sending bank. Just call the CS desk, they will be able to tell you if we have the funds.

Hi Steve,
Yes, I have doublechecked everything. I won't go into it further here as I have just emailed you with an attached of the bank transfer statement.

 

[ta2693]

my IB account is ready to start trade.
But the interface of trader workstation is short of some key features for doing day trading. It has no market depth. It has no daily trading volume. It has no on-time chart. I have to refer to my etrade account to get the above information I want and put order by using IB account. It is very inconvenient for me and take too long time to execute a trade.
What third party software can I use to get the above features I want?
Does IB have some software like "Poweretrade" can assist my trading?
Thank you

 

[juw177]

my IB account is ready to start trade.
But the interface of trader workstation is short of some key features for doing day trading. It has no market depth. It has no daily trading volume. It has no on-time chart. I have to refer to my etrade account to get the above information I want and put order by using IB account. It is very inconvenient for me and take too long time to execute a trade.
What third party software can I use to get the above features I want?
Does IB have some software like "Poweretrade" can assist my trading?
Thank you

You have to pay a monthly subscription fee of ~$37 to get any sort of market data. Read the thread, and the IB website.

edit: But if you have subscribed to the ASX data, the software functions available and the third party add-on possiblities do look very enticing.

 

[Steve-IB]

my IB account is ready to start trade.
But the interface of trader workstation is short of some key features for doing day trading. It has no market depth. It has no daily trading volume. It has no on-time chart. I have to refer to my etrade account to get the above information I want and put order by using IB account. It is very inconvenient for me and take too long time to execute a trade.
What third party software can I use to get the above features I want?
Does IB have some software like "Poweretrade" can assist my trading?
Thank you

It has all of the above! A

re you sure you are using the Trader Workstation and not the Webtrader?
Maybe you have these features switched off.. check by going to Configure>>Feature Selector and take a look.
Have you looked at the user guide for the features that you want?

 

[Sir Burr]

Steve,

Once you enter a trade which has a timed conditional order, do you have to be online at "the time" you set for the order to go through?

SB

 

[Steve-IB]

Steve,

Once you enter a trade which has a timed conditional order, do you have to be online at "the time" you set for the order to go through?

SB

No you don't.

 

[dubiousinfo]

I know this has turned into an IB thread, but I am looking for a new broker for ETO's. Does anyone have any views on Options Express for ETO's?