Australian (ASX) Stock Market Forum

Interactive Brokers Troubleshooting

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nulla nulla said:
It is probably a side effect of the banks trying to tighten up on money laundering, (not suggesting you are laundering ill gotten gains etc) :)
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I have found only my citibank a/c works well with IB as I trade UK and USA market too- other banks have problems due to lack of SWIFT or BAC codes

Ubank and Rabobank are typical examples
 
Does anyone know how I can configure booktrader to allow multiple limit orders at different prices? I checked the 'allow multiple orders' button but I can only have max 1 on bids and 1 on offer:
Reason being I'm just enjoying better spots on the queue and would like to do a bit more of it!
 
I love IB's trading platform and its low costs, but one thing that drives me nuts is their inability to add a few simple numbers together or to perform simple calculations, without being out by a + or - one cent. And it is not related to rounding errors.

For instance, today Apple paid a $2.65 dividend. I have 170 shares so I should have got a credit of $450.50. That is an exact amount. There is no rounding applicable to it. They credited my account $450.51. This is just simple multiplication.

Other times I would have just one buy or sell transaction for the day that might result in a net figure that is exact to the cent (no rounding needed). They might calculate the net figure correctly, but the new balance, which is simple the old balance + or - the net figure for the transaction might be out by 1 cent. The addition or subtraction of two figures is out by 1 cent!!

Because I maintain my own spreadsheets of my trades and balances, I constantly have to add "corrective" transactions to reconcile my figures with IB's. So far this financial year I have had a total of 38 transactions related to my trading in one of my accounts but I have had to make an additional 5 "corrective" transactions called "adjustment for IB error" that are either + or - $0.01 just to keep my figures consistent with IBs.

It may seem trivial, but it becomes a pain in the butt at year end to cross check my figures with IB's to ensure everything is accounted for if there are discrepancies between my totals and theirs. If totals are out by even just a few cents, it could be just because of these simple IB errors, or it could be due to several missing transactions of opposite signs. You don't know until you check.

I must have used a dozen or so brokers over the last 20 years and IB is the only one that has this problem.
 
Hey does anyone know why the market scanner for Aus equities options shows "no items retrieved"? I've got a market data subscription for ASX. All the other parameters in the scanner yield results except the options ones. There's a small blue circle next to all the options parameters so I'm guessing it has something to do with that, but I have no idea what it means. Can anyone help me before ask IB?
Cheers
 
I am trying to add funds to my newly opened account.

When I go into CommBank netbank to do the transfer, do I need to transfer it as a normal local transaction and hence not incur fees or must it be done as an international transfer?

The bank details of IB seem to be the Sydney branch and provide a BSB and Account number.

Thanks.
 
Elfanger said:
Thanks. Sending some money to my IB account now!
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If it helps to put your mind at rest, I just re-opened my account with IB and sent the funds by normal transaction. Did that in the morning just before lunch and received an email from IB during the night to say funds had arrived!
 
I'm trying to change my Banking Instructions for withdrawals to Westpac, Subiaco WA. I used have them set up for a local NAB Branch and it had no problem correctly identifying the local NAB branch. But with Westpac it is different.

If I leave the Swift Code out (as there is no specific Swift code for Westpac WA or for branches there) it will reject completely my branch BSB, 736051. I can't then create the instruction.

If I put in a Swift Code or accept the defaults, that code will be the normal Australian wide Swift Code for Westpac, WPACAU2S. This is Westpac Sydney. It will then offer a drop down to select a BSB, but it only shows a half dozen or so, all of which I assume are Sydney based. It does offer me the opportunity to override the BSB and I am able to put in the correct Subiaco WA BSB of 736051, which this time is not flagged as an error. The only problem is that when the instructions are saved, even though showing the correct A/C # and BSB, the address is still Sydney:

Bank's Name: Westpac Banking Corporation
Bank's Location/City: Sydney
Bank's Location/State: New South Wales

Has anyone set up a transfer to a non-Sydney Westpac branch that worked, and if so is it showing the correct branch address for your non-Sydney BSB?. Technically it should not need the branch address as the BSB & A/C # should be sufficient, but I don't want to experiment with small amounts due to the $10 fee after the first withdrawal per month.
 
bellenuit said:
Has anyone set up a transfer to a non-Sydney Westpac branch that worked, and if so is it showing the correct branch address for your non-Sydney BSB?.
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Yes I transfer to a Westpac branch in a Brisbane suburb and it works perfectly fine.

Here's what mine looks like:

Account Number at the Bank: BSB-Acct number
Bank's Name: Westpac Banking Corporation
Bank's Location/City: Parramatta
Bank's Location/State: New South Wales
Bank's Location/Country: Australia
Bank's ABA Number or SWIFT Code: WPACAU2SXXXSWIFT

It's been a while since I set it up, so I have no idea why it has a Parramatta location. But it works!
 
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