Help with Interactive Brokers

[-Bevo-]

Just a few quick questions.

Ive had a look at their website but it is slighty confusing for a novice.

Do they charge a monthly fee to use their platform?

Or is the monthly fee only for live data?

Ive heard brokerage is only $6 is that true?

Are conditional orders also $6 or is their an additional fee?

Thanks stocknub

No fee to use there platform TWS but there is a minimum spend of 10 USD a month, you pay extra for exchange data if you need it some future exchanges and forex are free.

Brokerage for ASX is $6 or 0.08% whichever is higher, conditional orders are no extra.

 

[Market Sniper]

Hi Guys

Do you think that IB will ever offer CFD's?

Mike

 

[white_goodman]

Hi Guys

Do you think that IB will ever offer CFD's?

Mike

doubt it, its illegal in the US

 

[Trembling Hand]

Hi Guys

Do you think that IB will ever offer CFD's?

Mike

Why would you want CFDs when IB offer what they do

 

[Market Sniper]

Hi TH

So from my understanding you can trade Australian shares through IB with margin??

Regards

Mike

 

[psj02]

How do you put on OCA (one cancels another) orders in IB? I have two trades in mind but can't put on both due to insufficient funds. I've activated the OCA function, but it asks for a group name. Do you enter the ASX code for the other trade that you want cancelled, if this one happens to be filled?

 

[psj02]

I consulted the help menu. For the two trades I put in a common group name e.g. "Mon." So whichever trade gets filled first, should the other one be cancelled?

 

[tazm]

doubt it, its illegal in the US

IB offer CFD trading for Australia only. In the Account Trading Permissions section of Account applications there is a check box for Australia only.

Cheers

Tazm

 

[psj02]

IB offer CFD trading for Australia only. In the Account Trading Permissions section of Account applications there is a check box for Australia only.

Cheers

Tazm

Yes I was aware of that but someone here said that the spread was crap. Anyone care to elaborate on this? I'm only looking at CFDs to go short and I already have an IB account. Am I better off opening up another account say with IG for this purpose?

 

[whacky]

Interactive Brokers

Hi All,
I am new to this forum.

This question is predominantly posed at people already using Interactive Brokers.

In order to open an individual account, they except a balance of $10K to be maintained. Can i open an account with $10K and then if I buy stock worth $10K. Now would my account be considered as '$0' balance accnt or '$10K' balance accnt?

 

[So_Cynical]

Re: Interactive Brokers

Hi All,
I am new to this forum.

This question is predominantly posed at people already using Interactive Brokers.

In order to open an individual account, they except a balance of $10K to be maintained. Can i open an account with $10K and then if I buy stock worth $10K. Now would my account be considered as '$0' balance accnt or '$10K' balance accnt?

Good question.

I assumed that i didn't need to keep 10K in the cash part of the account, just needed to deposit that to open then as long as i didn't withdraw it i would be ok...could buy and sell what i wanted?

 

[whacky]

Thansk so_cynical for your reply

I got a reply(pasted below) from IB (after two days!)

"Thank you for your interest in Interactive Brokers. Our minimum requirement to open a new account is USD 10,000 or the equivalent in positions or a different currency. It is not necessary to maintain that amount, and if your account dips below USD 10,000 there is no penalty. This is always a combination of positions and cash, so if you use your initial deposit of USD 10,000 to buy shares you would still have a balance of roughly USD 10,000 (minus commissions, price fluctuations). "

 

[Sergio]

Hi all,

i am currently using comsec and just realise that i can cut some costs by leaving the L/T investment with comsec and S/T trading with other cheaper broker like IB..

however, seems IB will incur some costs that never been charged by comsec, such as:

1. withdrawal fee ($15)
http://individuals.interactivebrokers.com/en/index.php?f=otherFees&p=withdrawal#asia

2.modify/amend/cancel order ? ---> i saw this from this forum a week ago but i lost the link

any thoughts?

and also, day trading limit of 25k only for US market isnt it?
http://individuals.interactivebrokers.com/en/index.php?f=margin&p=daytrade


thanks for helps =]

cheers,

Sergio =]


ps: i only do australian shares so far...

 

[Sergio]

Hi all,

i am currently using comsec and just realise that i can cut some costs by leaving the L/T investment with comsec and S/T trading with other cheaper broker like IB..

however, seems IB will incur some costs that never been charged by comsec, such as:

1. withdrawal fee ($15)
http://individuals.interactivebrokers.com/en/index.php?f=otherFees&p=withdrawal#asia

2.modify/amend/cancel order ? ---> i saw this from this forum a week ago but i lost the link

any thoughts?

and also, day trading limit of 25k only for US market isnt it?
http://individuals.interactivebrokers.com/en/index.php?f=margin&p=daytrade


thanks for helps =]

cheers,

Sergio =]


ps: i only do australian shares so far...

i found some answers in here
https://www.aussiestockforums.com/forums/showthread.php?t=10838&page=9

cheers =]

 

[skc]

Hi all,

i am currently using comsec and just realise that i can cut some costs by leaving the L/T investment with comsec and S/T trading with other cheaper broker like IB..

however, seems IB will incur some costs that never been charged by comsec, such as:

1. withdrawal fee ($15)
http://individuals.interactivebrokers.com/en/index.php?f=otherFees&p=withdrawal#asia

2.modify/amend/cancel order ? ---> i saw this from this forum a week ago but i lost the link

any thoughts?

and also, day trading limit of 25k only for US market isnt it?
http://individuals.interactivebrokers.com/en/index.php?f=margin&p=daytrade


thanks for helps =]

cheers,

Sergio =]


ps: i only do australian shares so far...

The withdrawal fee applies only if you do more than one transfer per month. The first withdrawal each month is free.

There's no fee in changing any orders etc.

The day trading limit doesn't apply for Australian market AFAIK.

There's also a fee these days on processing capital raising (e.g. if you elect to take up SPP or rights issue). Check with IB yourself on the costs.

 

[Sergio]

The withdrawal fee applies only if you do more than one transfer per month. The first withdrawal each month is free.

There's no fee in changing any orders etc.

The day trading limit doesn't apply for Australian market AFAIK.

There's also a fee these days on processing capital raising (e.g. if you elect to take up SPP or rights issue). Check with IB yourself on the costs.

thanks for your reply, skc =]

regards
sergio