Australian (ASX) Stock Market Forum

Interactive Brokers Troubleshooting

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G’Day,

Has anyone been in contact with IB regarding XJO options ? I sent in a ticket about 1 month ago and the reply was they will be offered shortly.

Steve from IB, if you still peruse this site do you know if they are coming inline shortly?

Thanks in advance.
 
Anyone else got a dodgy backfill on SPI data from about midnight till open? I've downloaded it several times. Same crap each time. IB's intraday chart shows the same thing.
 
No back fill again today for Asian stuff!!

ever get the felling that we aint really important down this end of the world. Time to switch back to esignals I guess. It's just so cheap though:(
 
New here. Just tried to apply for IB ? Wondering if any of you guys get issues applying ?

I am planning to do forex and a little share trading. I have been using Etrade, and so costly !!! Never done forex, so I did the test lol :D. Well, at least a learn more things about forex now, get rid a litte bit of confusion now. Now I am approved for forex lol.

Anyway, I thought it is a little funny that they have not approved and already asking for the deposit !!!

What's with that ??? Can't they say if it is approved or not before sending the monies ??? Otherwise, a wasted effort.

What are your experiences ?

I have to do a bit of demo first before hand. Do not think they offer that to get used to their platform and all !

Thanks

Al
 
AbundantIncome said:
I have to do a bit of demo first before hand. Do not think they offer that to get used to their platform and all !

Thanks

Al
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G'Day,

You need to fund the account to have access to paper trader, or you can uses the free demo which is accessed via the website.

I think the free demo uses simulated data so if you're testing a system it won't be of any help but it's good for getting used to order entry.

EDIT> The question of approval, you only get approved once the account is funded.
 
cutz said:
G'Day,

You need to fund the account to have access to paper trader, or you can uses the free demo which is accessed via the website.

I think the free demo uses simulated data so if you're testing a system it won't be of any help but it's good for getting used to order entry.

EDIT> The question of approval, you only get approved once the account is funded.
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Thank you for your response and information. I agree with you that it is useless using a simulated data. Well, no point using their demo if I might not be approved.

I think I would get it funded then soon to see if it is approved or not then I can decide to paper trade with them.

I have heard there is a bit of issue with their data feed esp forex ? Care to share your experiences ? For forex, it is get data sources elsewhere but if I am going to trade with them, isn't it better using their system to ensure same information used for trading ?

Cheers
Al
 
Hello again Al,

The demo version that uses simulated data is actually great for getting used to driving TWS, as for your concerns about approval I think it’s a non issue. My experience with account setup was positive.

Sorry I can’t help you with forex, I’ve only got ASX data and US equities data using it to trade stocks/ options once again its hasn’t let me down.

My overall experience with IB has been extremely good, cash transfers are efficient, often turning up in the account on the same day as initiation and the trading and margining process is a lot more efficient than what I’ve been used to.

Hope that helps.
 
cutz said:
Hello again Al,

The demo version that uses simulated data is actually great for getting used to driving TWS, as for your concerns about approval I think it’s a non issue. My experience with account setup was positive.

Sorry I can’t help you with forex, I’ve only got ASX data and US equities data using it to trade stocks/ options once again its hasn’t let me down.

My overall experience with IB has been extremely good, cash transfers are efficient, often turning up in the account on the same day as initiation and the trading and margining process is a lot more efficient than what I’ve been used to.

Hope that helps.
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Hi Cutz thanks for the information. I am wondering if it is necessary to get data feed from them to trade stocks ? am trading using etrade atm so I could use their charts/data to get signal of trading. It is hard to trade with high brokerage fee like Etrade but they offer data feed though so.

I am wondering how consistent their data feed with the rest of the world. I am wondering if there is a delayed issue with price movement etc. How great is their quote ? any inconsistency so far in terms of trading quotes ? I am trying to avoid the data feed if it is possible as I may not trade as regular on a monthly basis sometimes so I want to reduce the regular cos of getting the data feed. If the data feed is matching well, then I could just open trades using Etrade charts etc.

What tips have you got with their share trading ? Are they actually offering margins for share trading too or just normal share trading account with ETrade ? Have been burnt with Options before so not sure I want to venture into it again as yet :D

But forex seems to be more liquid and hence I want to try in small trades.

more> are they market maker or ECN type market prices ?

Cheers
Al
 
Hello again Al.

I don’t think you need a data feed to trade through IB, I suppose you can look at the prices on Etrade and enter your orders on IB, but my feeling is why would you bother, the savings made on brokerage covers the cost of data by miles.

The data feed is consistent, I run Iress side by side with TWS and the prices always match up so there’s no issues there in my case, mind you that’s only on ASX data.

In the case of margining its 50% with stocks.

On your last question, TWS is a direct market access platform, therefore your not trading against the broker, but IB do operate an options market making business in Australia via Timber Hill, the implications are no different than if you where carrying out your option trading via Etrade and it has nothing to do with the retail broking side of things.

Please be aware that I’m no expert so if anyone has noticed any inaccuracies in what I’ve just written please feel free to correct me.


Cheers.
 
cutz said:
Hello again Al.

I don’t think you need a data feed to trade through IB, I suppose you can look at the prices on Etrade and enter your orders on IB, but my feeling is why would you bother, the savings made on brokerage covers the cost of data by miles.

The data feed is consistent, I run Iress side by side with TWS and the prices always match up so there’s no issues there in my case, mind you that’s only on ASX data.

In the case of margining its 50% with stocks.

On your last question, TWS is a direct market access platform, therefore your not trading against the broker, but IB do operate an options market making business in Australia via Timber Hill, the implications are no different than if you where carrying out your option trading via Etrade and it has nothing to do with the retail broking side of things.

Please be aware that I’m no expert so if anyone has noticed any inaccuracies in what I’ve just written please feel free to correct me.


Cheers.
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thanks for the information ? wonder how the iress works ???? what is the usage ? I have heard a lot being mentioned but not sure what's the benefit etc ???

great to know that I can trade in the open market as with my previous experience with one CFD with starting C, they are just so wrong .. do whatever they want ... trades executed without even I request a trade .. that is just simply wrong .. so wrong !!! that is pure theft !!!

thanks
 
What's the experience with funding IB with shares held with other broker like ETrade. It costs several times more just to exist a position.

could somebody give advice pro and cons ???

thanks heaps

let's pray for the victims of Victorian fire and hope the families left are given strength and courage to carry on in this difficult time ...

God bless
 
AbundantIncome said:
What's the experience with funding IB with shares held with other broker like ETrade. It costs several times more just to exist a position.

could somebody give advice pro and cons ???
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I just funded my account with cash was very easy to do, cant answer the transferring of shares but from what I have read its abit of a headache with IB, most complaints were about time taken to transfer the shares in some cases many weeks.
 
-Bevo- said:
I just funded my account with cash was very easy to do, cant answer the transferring of shares but from what I have read its abit of a headache with IB, most complaints were about time taken to transfer the shares in some cases many weeks.
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Thansk for the response. I have been told it might take up to 10 working days. I think that is quite reasonable I guess. It all depends on both parties I guess too. But they do seem to require more information. I have done this with Etrade. It was easy, I just tell them the shares I want to be transferred and that was it !!!

I am on a pretty huge loss on some shares and hopeful for a recovery so I prefer not to get the loss as yet, plus am still learning about forex. Just wait and see where it goes before I sell those shares.

What are the methods available for cash transfers ? how long would that take I wonder ?

Cheers
 
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