Interactive Brokers Troubleshooting

[bellenuit]

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!

Thanks, that's pretty much what mine looks like, except I have an extra field called "Bank's Code Specific to Country" which has the BSB Number I put in. Instead of Parramatta it shows Sydney, rest the same.

I'll risk doing a large transfer and report back if there are problems so that others can be aware.

 

[bellenuit]

Thanks, that's pretty much what mine looks like, except I have an extra field called "Bank's Code Specific to Country" which has the BSB Number I put in. Instead of Parramatta it shows Sydney, rest the same.

I'll risk doing a large transfer and report back if there are problems so that others can be aware.

It worked and pretty fast too. I transferred the funds about 1PM WST yesterday and they were in my Westpac account when I checked this morning.

 

[Happy2be]

Hi All

Have been using Interactive Brokers for a few years now and went to open a new additional account and this is what they said:-

"Due to ongoing changes in the IB account structure, certain account types and services, including margin accounts, spot commodity and cfd accounts will not be available."

In other words all I could open was a CASH account which is completely useless for what I wish to trade and the way I wish to trade it.

Have sent ticket and am waiting for reply from IB.

Any one else having similar issues????

Signed
Really Peeved.

 

[Plan B]

Have been using Interactive Brokers for a few years now and went to open a new additional account

Just out of interest, and this is certainly none of my business but can I ask the reason for opening another additional account? Tax reasons maybe?

 

[Happy2be]

Just out of interest, and this is certainly none of my business but can I ask the reason for opening another additional account? Tax reasons maybe?

To keep seperate the paper work, analysis and associated parts of the system being traded from the other account etc.

Ease of use, basically especially after the issues revealed recently by other users of IB and their accounting errors.

 

[Sharkman]

Just out of interest, and this is certainly none of my business but can I ask the reason for opening another additional account? Tax reasons maybe?

i've actually been deliberating over this as well, though for a different reason. i currently have one IB account in the name of my company which is the sole trustee of my trust. was thinking about registering another company, establishing a second trust with this new company as trustee, and opening up a second IB account in it's name.

this way i can get double the SIPC coverage. now IB does appear to be financially healthy on the surface, so i'm not overly worried, but i can't help but feel a small nagging paranoia after mf global, sonray etc. so i've been deliberately keeping the net balance of my existing account somewhere around the maximum 500k that is covered by SIPC (of course that's 500k USD and my base currency is AUD, so i can let it creep up a bit more now, since AUD/USD has fallen steeply). wasn't too big of an issue a few years ago when i first joined IB and 500k constituted the bulk of my net assets anyway, but i've built up quite a bit since then and not utilising all my capital is now shackling my trading.

what's other people's take on the insurance thing? are you worried about depositing capital beyond the 500k SIPC protection limit into an account with a broker that holds stock in street name, or does this not concern you in the slightest? if a broker who is a signatory to the SIPC collapses, are we actually guaranteed to be covered as they describe (500k maximum coverage per uniquely titled account, with a 250k cash sublimit) or could we not be fully covered up to that limit, depending on the circumstances?

 

[DocK]

Is anyone else having trouble logging on to TWS today? I keep getting a server error message.

 

[skc]

IB TWS desktop has been playing up on me of late. It seems to freeze at irregular intervals - like it wouldn't log out properly, or I try to change the chart's axes and it freezes.

I did an update to the latest version yesterday but the problem persisted.

May be it's a Java issue? How do I check that I have the right/latest Java installed?

Thanks.

 

[boofis]

IB TWS desktop has been playing up on me of late. It seems to freeze at irregular intervals - like it wouldn't log out properly, or I try to change the chart's axes and it freezes.

I did an update to the latest version yesterday but the problem persisted.

May be it's a Java issue? How do I check that I have the right/latest Java installed?

Thanks.

I've been having similar issues.

To check java, go here.... http://java.com/en/download/index.jsp .... and click on "Do I have java?"

Can't help beyond that sorry.

 

[captain black]

May be it's a Java issue? How do I check that I have the right/latest Java installed?

Go to the Java website:

http://www.java.com/en/

Click on the "Do I have Java?" link.

Click on the "Verify Java Version" button.

(Version 7 Update 25 is the latest)

You can also check your version via the Java section of Control Panel.

 

[So_Cynical]

Anyone know why Euro style ASX Options don't show up for me in IB..American style no probs, but the Euro options that i can see on the ASX site don't show for me in Web Trader.

:dunno:

Thanks in advance.

 

[skc]

Go to the Java website:

I've been having similar issues.

Can't help beyond that sorry.

Thanks. Have updated JAVA and it's been crash free for 12 hrs... Will comeback if it relapses.

 

[steven01]

Do I need to deposit US$10,000 into my IB cash account to paper trade?

Hi, just received application approved notice for my IB account. I just want to papertrade US stocks and become famliar with their site, process etc until the margin lending situation is resolved. It is probably correct but can someone confirm that I need to deposit US$10,000 into my cash account to even just papertrade?? Thanks.

 

[IFocus]

Re: Do I need to deposit US$10,000 into my IB cash account to paper trade?

Hi, just received application approved notice for my IB account. I just want to papertrade US stocks and become famliar with their site, process etc until the margin lending situation is resolved. It is probably correct but can someone confirm that I need to deposit US$10,000 into my cash account to even just papertrade?? Thanks.

Yes from memory thats correct you have to fund the account, if I remember rightly after wards I think you can take most of the cash out and leave a min balance.......been a few years since I went through this.

 

[hawamahal]

Re: Do I need to deposit US$10,000 into my IB cash account to paper trade?

Hi, just received application approved notice for my IB account. I just want to papertrade US stocks and become famliar with their site, process etc until the margin lending situation is resolved. It is probably correct but can someone confirm that I need to deposit US$10,000 into my cash account to even just papertrade?? Thanks.

As far as I remember, the minimum balance has to be USD 10,000 at all times. Also remember that if you do not trade they will charge you $10 every month if the brokerage is below a certain amount.

 

[Lone Wolf]

Re: Do I need to deposit US$10,000 into my IB cash account to paper trade?

As far as I remember, the minimum balance has to be USD 10,000 at all times. Also remember that if you do not trade they will charge you $10 every month if the brokerage is below a certain amount.

Minimum deposit to open is 10,000 USD.

From the IB website:
"To Trade a margin account you must maintain at least USD 2,000 or non-USD equivalent."

If you have less than 2000 USD in the account they will charge you $20 a month inactivity fee rather than the standard $10.

 

[freebird54]

No margin problems with a company.

Are you be able to set up using an SMSF - it may depend on how it is set up - has anyone confirmed this?

 

[freebird54]

webtrader and Beta last 2 days - when I place an order it logs me out before it is placed - error - disconnect click ok to login and repeats

anyone else

on Cable from 2 different locations same problem
emptied cache

 

[freebird54]

webtrader and Beta last 2 days - when I place an order it logs me out before it is placed - error - disconnect click ok to login and repeats

anyone else

on Cable from 2 different locations same problem
emptied cache

It gets worse - tried firefox and IE now get incorrect password on 1 out 3 logins and the warning pop ups take a long time to go preventing order being placed

have updated flash from adobe

 

[freebird54]

It gets worse - tried firefox and IE now get incorrect password on 1 out 3 logins and the warning pop ups take a long time to go preventing order being placed

have updated flash from adobe

cant even modify existing order - it just come up with multiple tabs to modify
I have had enough - back to an Australian full service discount broker