Australian (ASX) Stock Market Forum

Interactive Brokers

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nomore4s said:
Just make sure you've got enough money in your account to cover the purchase.
Click to expand...

That's what I thought too, however when I did a margin preview of some shares around 5K, which I had as available for margin, it showed that I would be using around 2.5K for margin :confused:

So are you saying that as long as I stick with buying under 5K in the above, there won't be any interest charged?

Cheers
 
I've done a bit of poking around on IBs website regarding a margin loan. I have a few questions / clarifications.

I presume that the interest paid is still tax deductible even though it is in he US?

Are repayments made or is the interest capitalised into the loan?

It seems that you can borrow up to 50% and then your D/V ratio can increase up to 75% before a margin call is made. This seems more conservative than other margin lenders. I thought the US was the one with dodgy lending practices. Are these ratios correct?

Do margin loans need to be applied for or can you just borrow 50% as standard.

The interest rate seems to be 4.688% for balances less than $150,000. This seems pretty cheap.

thanks all.
 
Does anyone know if Australian traders trading the ASX are restricted the DT/PDT rules when trading via IB?

Update:
Sorry, I think I found the answer here
(can't post links... but it's thread 17180 on this site)

IB's information isn't specific about which markets the Day Trading limits apply for and I was a little concerned it is/was a blanket limit for all accounts.
 
Hello IB users, I am looking at opening an account with IB but have few questions for users.

Do you get a rebate on the asx data fee $37.50 if you make a certain numbers of trades a month?

Can anyone give some feedback good or bad with running IB's realtime data with amibroker?

I don't own amibroker yet but for what i can see the IB/amibroker combo looks good.

Thanks in advance
Lenny:)
 
No rebates but it's pretty cheap for data compared to WebIress etc unless you are a frequent trader.

Works well with Amibroker unless you need accurate Time & Sales. I'm referring to the ASX Data.

Paul


lenny said:
Hello IB users, I am looking at opening an account with IB but have few questions for users.

Do you get a rebate on the asx data fee $37.50 if you make a certain numbers of trades a month?

Can anyone give some feedback good or bad with running IB's realtime data with amibroker?

I don't own amibroker yet but for what i can see the IB/amibroker combo looks good.

Thanks in advance
Lenny:)
Click to expand...
 
Hi All,

I am currently looking to branch out using IB to trade other markets (only stocks) and just have a couple of questions. Also, I was wondering if anybody has any advice about potential pifalls, or indeed, any recomendations if they have been down this path already (any advice welcome).

1. When you are looking at the products list on the IB website the number of stocks does not correlate with the number of stocks traded in the market. Why are there some stocks that are unable to be traded using IB?

2. For non-english countries how have others found trading in these countries?

3. What are some markets that would be recommended and why?

4. Any other information welcome?

Many, many thanks in advance for any advice.
4blue
 
Hi

Quick question re IB accounts - do most people have their IB accounts in personal name or business name?

I currently have my account with IB in my personal name but have a business name that i trade under and use here in Australia.

Just curious as to what others have setup. Accountant is telling me i should have IB account in business name, just a bit of a pain to go thru process again with account already setup and running.

Cheers

Mike
 
Market Sniper said:
Hi

Quick question re IB accounts - do most people have their IB accounts in personal name or business name?

I currently have my account with IB in my personal name but have a business name that i trade under and use here in Australia.

Just curious as to what others have setup. Accountant is telling me i should have IB account in business name, just a bit of a pain to go thru process again with account already setup and running.

Cheers

Mike
Click to expand...

I have my IB account in my pet dog's name to avoid tax :D

Seriously though... How's the way other people got it set up has anything to do with you?

Isn't the whole idea of trading under a business name is to take advantage of better tax treatment (+ other advantages)? If you do that with other accounts why should IB be different?

Is the small pain of opening the account not worth the amount tax you could potentially reduce?
 
skc said:
I have my IB account in my pet dog's name to avoid tax :D

Seriously though... How's the way other people got it set up has anything to do with you?

Isn't the whole idea of trading under a business name is to take advantage of better tax treatment (+ other advantages)? If you do that with other accounts why should IB be different?

Is the small pain of opening the account not worth the amount tax you could potentially reduce?
Click to expand...


Its actually not as easy as you think.....I have just been onto IB about it and they cant tell me what account i would even need to apply for. When i asked the question originally they said i would need to apply for an institutional account but when you look at the options for this more specifically, none of them suit.

If you applied for an account with IB in a business name which form/s did you use?

Thanks in advance.

Mike
 
Market Sniper said:
Quick question re IB accounts - do most people have their IB accounts in personal name or business name?
Mike
Click to expand...
I don`t have an account with IB but my business name for financial instrument trading is my real name. I have an Australian Business Number to go with it.
 
Market Sniper said:
If you applied for an account with IB in a business name which form/s did you use?

Thanks in advance.

Mike
Click to expand...
I never thought of opening a "business account" with a financial institution but that is certainly possible but there would have to be benefits. I will now research any benefits. Thanks for the idea.
 
Market Sniper said:
Its actually not as easy as you think.....I have just been onto IB about it and they cant tell me what account i would even need to apply for. When i asked the question originally they said i would need to apply for an institutional account but when you look at the options for this more specifically, none of them suit.

If you applied for an account with IB in a business name which form/s did you use?

Thanks in advance.

Mike
Click to expand...
I did it online using their online forms, there was a lot of back and fore stuff but we eventually got it sorted [I think they gave up;-)
identification is critical if it is a pty ltd company they call articles of association something else for example and they didn't know what an asic online company search was [or didnt trust it]
I am learning something new on the site every day - I can even drop my share/option accounting package as they do it all free.
 
Anyone having problems with Interactive Brokers order management
with BHP?
Don't seem to load up with data on the quote panel, but I can see Market Depth.
BHP - Book Trader don't work.

Others work fine.
BHP doesn't update automatically into Amibroker either unless I keep on reconnecting.

Rang Hong Kong and US not much help.
 
SuperGlue said:
Anyone having problems with Interactive Brokers order management
with BHP?
Don't seem to load up with data on the quote panel, but I can see Market Depth.
BHP - Book Trader don't work.

Others work fine.
BHP doesn't update automatically into Amibroker either unless I keep on reconnecting.

Rang Hong Kong and US not much help.
Click to expand...

All good here.
 
New release for TWS, can now open over the weekends finally, this was a real bug bear for me
 
Yeah,

It's a beautiful thing and it just keeps getting better.

Been using the weekend to have a play with new modules (new to me that is), in particular risk navigator, can't believe i've never looked at it before.

IB option traders out there, make sure to check it out.:)
 
I also didn't know you could place orders straight of their charts using ChartTrader
 

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