Interactive Brokers
- Thread starter MrMarcus
- Start date
-
- Tags
- interactive brokers
If it's such a concern, could you point me to a few examples of a US broker dealer going bankrupt and taking the clients money with them
Professor - I'm sorry - I wasn't saying they had, were about to or would go broke in the future. I was just pointing out that it was an extra layer of risk that I was not prepared to take. That is all. Not sure why you are jumpy about my comment. Each of us limits our risk in our own way.
malachii
professor_frink
Moderator
- Joined
- 16 February 2006
- Posts
- 3,252
- Reactions
- 5
It's actually not an extra layer of risk when it comes to a US firm, and that's what I'm getting 'jumpy' about.
What I was trying to point out with my last post is that having shares held by a US broker is a LOT different to having them held with an Australian one. Brokers go bust in the US like they do here, they just have a pretty decent set of rules, regulation, and then an additional layer of insurance in case the broker does something similar to what Sonray appeared to have done here recently. It's a system that has been tested by many different brokers going bust over the past 40 years and is still in place today and still working.
- Joined
- 6 June 2007
- Posts
- 1,314
- Reactions
- 10
Prof - does the protection extend to an Aussie domiciled investor? What would recourse be like to the US courts?
IBs track record has been exemplary to date over an extended period.
We'll have to agree to disagree on this one professor. I don't know enough about the US legal system or insurance system or brokerage system to comment but to me - when the asset is no longer in your own name - you are trusting someone elses system therefore you are adding an extra layer of risk
malachii
malachii
- Joined
- 9 September 2005
- Posts
- 209
- Reactions
- 0
This was posted on another forum.
"I have just been updated by Neil. He said that individual HINs for clients will be here around the end of this year. There are in the process in setting up Interactive Brokers Australia."
So for all the nervous Nellie's out there, stay tuned.
"I have just been updated by Neil. He said that individual HINs for clients will be here around the end of this year. There are in the process in setting up Interactive Brokers Australia."
So for all the nervous Nellie's out there, stay tuned.
Hey Guys
Anyone have info on how to download TWS 905. Looks as though IB are offering 907 and 906. Cant find 905 or 904 throughout the site.
Would contact IB customer service but unable to during business hours. IB ticket takes longer than I would like.
Anyone have info on how to download TWS 905. Looks as though IB are offering 907 and 906. Cant find 905 or 904 throughout the site.
Would contact IB customer service but unable to during business hours. IB ticket takes longer than I would like.
Hi guys,
quick question someone might be able to help me with:
When trading the SPI on IB im aware you need a reg T margin account. In order to be approved for one of these accounts you need to have a financial situation which is above IB's minimum threshold.
Does this mean if Im not currently earning above a certain amount or my total net worth is below the threshold I cant trade? regardless of whether or not I have an account balance to satisfy both the initial margin and intraday maintenance margin requirements?
quick question someone might be able to help me with:
When trading the SPI on IB im aware you need a reg T margin account. In order to be approved for one of these accounts you need to have a financial situation which is above IB's minimum threshold.
Does this mean if Im not currently earning above a certain amount or my total net worth is below the threshold I cant trade? regardless of whether or not I have an account balance to satisfy both the initial margin and intraday maintenance margin requirements?
- Joined
- 25 July 2008
- Posts
- 383
- Reactions
- 5
I'm sure this is a stupid question; but I'll be jiggered if I can find the answer via IBs website or via google.
On there account statements, what the devil is "C. Price"? T. Price appears to be the price that the trade was completed, but C. Price is always a little more expensive for buys and a a little cheaper for sells.
Everything else appears to make sense. I've figured out that "basis" appears to be the opening cost including commission.
On there account statements, what the devil is "C. Price"? T. Price appears to be the price that the trade was completed, but C. Price is always a little more expensive for buys and a a little cheaper for sells.
Everything else appears to make sense. I've figured out that "basis" appears to be the opening cost including commission.
Razza: C.Price is the previous closing price for the market in question.
In terms of margin requirements and income requirements IB do have some funny account opening requirements. When opening your account and enabling yourself for futures you need a base liquid net worth $100k US I think. They are checking that futures trading is suitable considering your financial situation.
In order to trade you need the initial margin amount. The maintenance margin is simply about 75% of your initial margin and is the level at which you'll need to top up your margin if you're sitting on a losing trade (basically the margin level you need to maintain in your account to keep a position open).
In terms of margin requirements and income requirements IB do have some funny account opening requirements. When opening your account and enabling yourself for futures you need a base liquid net worth $100k US I think. They are checking that futures trading is suitable considering your financial situation.
In order to trade you need the initial margin amount. The maintenance margin is simply about 75% of your initial margin and is the level at which you'll need to top up your margin if you're sitting on a losing trade (basically the margin level you need to maintain in your account to keep a position open).
- Joined
- 24 October 2005
- Posts
- 1,302
- Reactions
- 834
C. Price is Cost Price which is your Trade Price including commissions. The total commission is divided by the number of shares. eg. you buy 1000 shares @$1 with commission @ $6.
Trade price is $1
Cost price is $1 plus $6/1000.
Cost price is $1.006
Trade price is $1
Cost price is $1 plus $6/1000.
Cost price is $1.006
- Joined
- 25 July 2008
- Posts
- 383
- Reactions
- 5
Sorry Cap't; I don't think you're right.
I just did some quick calcs and the C. Price quoted doesn't work out as you thought regarding commissions.
an example;
long 122 shares @ $6.95.
so T price is 6.95 and C Price is 7.07 as per the statement.
(122 * $6.95) + $6 = $853.9
To get C Price;
$853.9 / 122 = 6.99.
This is close, but not quite the 7.07 which is on the statement.
- Joined
- 25 July 2008
- Posts
- 383
- Reactions
- 5
After looking at a couple of charts; this appears to be correct.
Another thing I've noticed; dates and times in these IB statements appear to be in US time. So all trade dates are effectively one day behind. Anyway to configure reports to display them in AUS time and date?
- Joined
- 24 October 2005
- Posts
- 1,302
- Reactions
- 834
Yeh, I was looking at the Cost Price heading under Long Open Positions on the activity statement. Scrolling down I see C.Price that you were referring to next to T.Price under the Trades heading. C.Price is the Close price that day.
- Joined
- 16 June 2005
- Posts
- 4,281
- Reactions
- 6
Not sure if this helps, but you can export your trades using the "trades" button in TWS and convert trade times into local time. The trade button flashes as soon as a trade is done. See below for the picture of the dialog box that appears when clicking on "export" trades (found under the "file" menu).
Sorry - the picture isn't very clear, but hopefully you will get the idea...
- Joined
- 5 December 2008
- Posts
- 18
- Reactions
- 1
Interactive Brokers Survey
Would anyone who is (or has ever been) a client of Interactive Brokers like to help improve their systems by completing a quick anonymous survey? If so, please find the survey link here > http://www.metaweb.com.au/interactive-brokers-survey
Note: This survey is being run on my own website as an online User Experience professional who is trying to improve the IB website platform (for my own selfish trading reasons). You see, over the past couple of years I have been totally frustrated with it and my messages to their support team always seem to fall on deaf ears.
So, this is my attempt to drive the message home by showing them how many other people also struggle with it. I'm quite certain I won't be alone in this. I plan to run this survey until a decent number of people respond (100+) and then forward the results (with participant details removed) to IB for their consideration. If you like the idea and want to help, please complete the survey.
Thanks in advance!
Regards to all.
Would anyone who is (or has ever been) a client of Interactive Brokers like to help improve their systems by completing a quick anonymous survey? If so, please find the survey link here > http://www.metaweb.com.au/interactive-brokers-survey
Note: This survey is being run on my own website as an online User Experience professional who is trying to improve the IB website platform (for my own selfish trading reasons). You see, over the past couple of years I have been totally frustrated with it and my messages to their support team always seem to fall on deaf ears
. So, this is my attempt to drive the message home by showing them how many other people also struggle with it. I'm quite certain I won't be alone in this. I plan to run this survey until a decent number of people respond (100+) and then forward the results (with participant details removed) to IB for their consideration. If you like the idea and want to help, please complete the survey.
Thanks in advance!
Regards to all.
- Joined
- 5 August 2010
- Posts
- 5
- Reactions
- 0
Interesting stuff...
tech/a
No Ordinary Duck
- Joined
- 14 October 2004
- Posts
- 20,403
- Reactions
- 6,328
Man
I doubt it could be improved.
Lack of understanding of how to use the Work Station is probably more to do with trader inexprience than the platform requiring improvement.
Perhaps you could give some examples of your frustration (What they could improve on in your view).
I doubt it could be improved.
Lack of understanding of how to use the Work Station is probably more to do with trader inexprience than the platform requiring improvement.
Perhaps you could give some examples of your frustration (What they could improve on in your view).
