Australian (ASX) Stock Market Forum

Interactive Brokers Troubleshooting

Jump to new
CamKawa said:
I use the standalone version of TWS and I notice that the data feed dies at exactly 3:18pm every day. I don't subscribe to any ASX data so it's not that much of a drama for me. It usually comes back online in about 3 - 5 minutes. Is this related to the web version for clients trying to trade the ASX or is it another issue? I dunno but I suspect it may just be system maintenance.
Click to expand...

Hi CamKawa,
I'm subscribe to ASX data on IB and on the stand alone, I haven't noticed the disconnection during those time for the last month. I believe the Asian servers gets reset around 5 - 5:30pm which is fine for me.

I noticed that they had issues in the past couple of days where they switched us over to the US server. Not quite sure if we are back to the Asian Server yet. But thanks for the heads up. I'll let everyone know.

regards

paul
 
cutz said:
G'Day,

Anyone who has sold aussie stocks short, whats the process?
I understand that stock may need to be sourced so i was wondering how long this can take after the sell order has been placed.

Thanks in advance.
Click to expand...

Can't short any stocks on ASX lately, as IB no longer offer any shares to short.

I've used their CFDs to short about 5 stocks so far (through SNFE), and it works fine (except a few of them took a while to execute, some up to 30min-1hr? RIO/BHP were faster maybe due to liquidity). Covering seems to be faster with stops. Only problem with shorting with CFDs is that choices are limited to about 40 stocks
 
A general question about IB (maybe a noobie one!). When I signed up with them, I noticed my funds were transferred to 'Citigroup' or Citibank? cant remember which

My question is, what happens "if" the U.S. eventually lets Citibank fail? Will I lose all my funds too?
 
Rick_Hunter said:
A general question about IB (maybe a noobie one!). When I signed up with them, I noticed my funds were transferred to 'Citigroup' or Citibank? cant remember which

My question is, what happens "if" the U.S. eventually lets Citibank fail? Will I lose all my funds too?
Click to expand...

I think it's CityBank in Sydney and the money is out of CitiBank into IB's Trust Fund. The IB website mentioned somewhere about Llyods of London insuring them. Then again, if IB goes down then Llyods could be the issue, just look at AIG!

Nothing is safe. Keep the money under your bed.

Or just the minimum you are willing to risk.

regards
 
Rick_Hunter said:
Can't short any stocks on ASX lately, as IB no longer offer any shares to short.

I've used their CFDs to short about 5 stocks so far (through SNFE), and it works fine (except a few of them took a while to execute, some up to 30min-1hr? RIO/BHP were faster maybe due to liquidity). Covering seems to be faster with stops. Only problem with shorting with CFDs is that choices are limited to about 40 stocks
Click to expand...

Thanks rick,

Yeah derivatives seem to be the only way to go, and even Australia’s most popular broker hasn’t brought shorting back online.

BTW, Citibank is used by IB as a conduit of funds.
 
Ok, I've come to the conclusion after today that IB's CFDs through SNFE are really really illiquid, unless you're trading BHP/RIO

I've been trying to get out of OSH (short cfd) for the last 1.5hrs from 5.25 to 5.35 and still cannot get out even as I write this

After and when I finally close all my positions, I won't be using IB CFDs for shorting ever again (maybe just RIO/BHP)

After reading through numerous cfd threads on this forum, I think I've narrowed it down to IG Markets, SAXO and MF Global

Anyone have experiences trading with these CFD providers? especially when it comes to shorting stocks (preferably in the last 6 months or so)

Thanks in advance.
 
Rick_Hunter said:
Ok, I've come to the conclusion after today that IB's CFDs through SNFE are really really illiquid, unless you're trading BHP/RIO

I've been trying to get out of OSH (short cfd) for the last 1.5hrs from 5.25 to 5.35 and still cannot get out even as I write this

After and when I finally close all my positions, I won't be using IB CFDs for shorting ever again (maybe just RIO/BHP)

After reading through numerous cfd threads on this forum, I think I've narrowed it down to IG Markets, SAXO and MF Global

Anyone have experiences trading with these CFD providers? especially when it comes to shorting stocks (preferably in the last 6 months or so)

Thanks in advance.
Click to expand...

From what I understand, the CFD offered by IB are ASX exchange trade CFDs (I could be wrong). These instruments are ASX's (the company) attempt to profit from the popularity of CFDs, but have been a complete failure due to the lack of volume. So it's not IB's fault...

Personally I use IG Markets for shorting. They have the DMA model which has same price and volume as the underlying.
 
Rick_Hunter said:
Ok, I've come to the conclusion after today that IB's CFDs through SNFE are really really illiquid, unless you're trading BHP/RIO

I've been trying to get out of OSH (short cfd) for the last 1.5hrs from 5.25 to 5.35 and still cannot get out even as I write this
Click to expand...
Thanks for the feed back Rick. I've spent months trying a find the best way short ASX stocks. I looked into the options market with IB on the ASX and that is very illiquid to so maybe don't go there either.

I'm not that keen on CFD's as risk management for me may be challenging. I’m currently shorting stocks that comprise the S&P 500. The downside to that is a bit of currency speculation has to be done on the side and time zone differences. Currently the NYSE closes here at 7:00am but with daylight savings ending soon it will kick back to a 6:00am close.

I can't see a perfect solution here. I only wish I short sell stocks on the ASX with IB like I do the S&P.
 
skc said:
From what I understand, the CFD offered by IB are ASX exchange trade CFDs (I could be wrong). These instruments are ASX's (the company) attempt to profit from the popularity of CFDs, but have been a complete failure due to the lack of volume. So it's not IB's fault...

Personally I use IG Markets for shorting. They have the DMA model which has same price and volume as the underlying.
Click to expand...

I think they might be the old SFE share futures renamed to something more fashionable. With horrible liquidity and wide MM spreads, they used to be terrible - sounds like there is no improvement...
 
moreld said:
Australian Dividends
Can someone confirm the following.
1. Are Australian dividends are paid in full into my Interactive Brokers account with no withholding tax?
2. Are Australian dividends kept in Australian currency and not converted to my base currency, which is USD?
Click to expand...
I received a reply to this from IB. Tax is only withheld if the company specifies that it should be and dividends are kept in currency received.
I'll soon be getting my first Aussie dividend into IB so will report if the result is different.
 
Cam, no worries, I tried finding into about this, never could, happy to give it a go and let everyone know how it went

haha, it's getting quite ridiculous at the moment. I've been trying to cover my Qantas CFDs for the entire day (1400 of them) with no success even though they dropped throughout the day with of volume of about 20 mil shares....

well, at least i've got everything hedged now, and will get rid of my qantas shares as soon as i can exit the CFD position....

this definitely has been a rollcoaster experience for me
 
Hi All,

I'm considering IB for ASX Exchange Traded Options trading.

Specifically, Im interested in switching between holding a sold call naked and covered maybe several times over the life of the sold call, using a margin loan to fund the purchase of the underlying equity. (Im doing this for risk management - price goes up, I cover with stock, price goes down I go naked). Comsec make this process very difficult, and only able to be carried out after market hours at a hefty rebooking fee and much haggling with call centre bods who are not familiar with the process.:banghead:

IB have advised me they can do this no problem:) - I was just wondering if anyone had actually tried this and what their experience was like?
 
Beenjammin said:
Hi All,

I'm considering IB for ASX Exchange Traded Options trading.

Specifically, Im interested in switching between holding a sold call naked and covered maybe several times over the life of the sold call, using a margin loan to fund the purchase of the underlying equity. (Im doing this for risk management - price goes up, I cover with stock, price goes down I go naked). Comsec make this process very difficult, and only able to be carried out after market hours at a hefty rebooking fee and much haggling with call centre bods who are not familiar with the process.:banghead:

IB have advised me they can do this no problem:) - I was just wondering if anyone had actually tried this and what their experience was like?
Click to expand...

G'Day,

I’m not sure on your strategy but as far as buying on margin with IB it’s not a problem, just fund your account, set up your stock order, check your margins then push the trade through, sell the calls then manage you position as required, piece of cake.:)
 
cutz said:
G'Day,

I’m not sure on your strategy but as far as buying on margin with IB it’s not a problem, just fund your account, set up your stock order, check your margins then push the trade through, sell the calls then manage you position as required, piece of cake.:)
Click to expand...

Thanks again Cutz,

Have you ever used IB to switch the cover for a sold call from naked (using cash margin) to covered using specific cover (ie the underlying stock), after having sold the call naked? Or going backward - selling the stock you are using to cover your call and leaving it naked? (is this what you mean by "manage your position" or do you mean closing the call as well?)

Im interersted in how easy the process is on IB - I want to do it real time, not after hours.

:)eek:sorry if Im sounding pedantic, I just need to be certain!)

Thanks
B
 
Just gotta add - comparing these guys to my current provider - Wow! Commissions, margin interest, flexibility, markets, tools.....IB seems to beat domestic providers hands down.

Is it true, have I finally found a fair dinkum, trader-friendly on line broker with reasonable charges and friendly customer service:)? Or is it too good to be true and there's a sting in the tail I'm not aware of - I cant seem to find any complaints (outside the fact you have to keep a steady eye on your margin so you dont get automatically wound out with no say in it?).
 
Beenjammin said:
Thanks again Cutz,

Have you ever used IB to switch the cover for a sold call from naked (using cash margin) to covered using specific cover (ie the underlying stock), after having sold the call naked? Or going backward - selling the stock you are using to cover your call and leaving it naked? (is this what you mean by "manage your position" or do you mean closing the call as well?)

Im interersted in how easy the process is on IB - I want to do it real time, not after hours.

:)eek:sorry if Im sounding pedantic, I just need to be certain!)

Thanks
B
Click to expand...

Hi Benji,

I don’t trade in and out of stocks but to answer your query, buying on margin (%50) then trading in and out of the short calls shouldn’t present a problem, IB doesn’t use chess therefore the process is a lot smoother. You buy the stock, it instantly show up in your account then you sell the calls, as soon as you sell the calls the proceeds show up in your account.

You then can easily keep an eye on margins and manage the position accordingly.

I couldn’t put it any simpler.

DYOR as I don’t understand your strategy and I’m also on L plates, here’s the relevant page on margins http://www.interactivebrokers.com/en/trading/marginRequirements/margin.php?ib_entity=llc

BTW if anyone has noticed any errors feel free to correct.
 
Benji???:eek: Woof bloody woof mate ....

Thanks again, Ive had a play on the demo site now - I think my concern is irrelevant because IB dont use CHESS so you dont have all that kerfuffle that domestic brokers put you through (no more T+3!).

OK New question on the IB TWS platform...... does anyone know if you can set your own filters to search for options that meet a particular criteria? EG, browse all April Call options that are ATM for all stocks on a particular exchange?

If not, is there a free site that allows you to do this (ASX and US markets?).


Cheers
B
 
cutz said:
Sorry I’ve just realized you’ve Been jamming and not Benjamin, hope I didn’t cause too much offence.

BTW there’s an excellent TWS users guide on the website.
Click to expand...

:) None taken - I should have expected something like that considering the nick I chose. Its actually an old stage name from when I was in a reggae band a few lifetimes ago - Beenjammin Allnite.

Ill hit the users guide.
 
Top