Interactive Brokers

[wanky]

looks like some useful changes at IB for us..

ENHANCED SERVICES - AUSTRALIAN LISTED SECURITIES
IB is pleased to announce enhanced services for our Australian and New Zealand clients investing in Australian listed securities. Included in the upgrades are improved recognition of Australian residency for cash dividends, better access to certain restricted corporate actions and share repurchase programs, and availability of reports detailing franking credits which may be useful for certain tax considerations.

In order to benefit from many of these changes, Australian residents will need to provide their TFN. This can be done via Account Management by updating the user information at any time. Please note that updating the TFN information is only necessary to benefit from preferential tax withholding and corporate action activity. Investors who do not trade Australian listed securities are not affected.

 

[FxTrader]

So I still need to transfer some bucks across, but a bit worried with this screen talking about commission minimums.

Wondering if someone could explain this in "dummy's terms" for me.

Many international brokers, not retail investors like yourself, use the IB Trader Workstation platform as customised and rebranded (with their logo) trading platform for their clients. They then add their own fees on top of the IB commissions. This enables them to offer a trading platform to trade international exchanges but allow clients to deal locally with their broker while funding their accounts in their local currency.

 

[johenmo]

Many international brokers, not retail investors like yourself, use the IB Trader Workstation platform as customised and rebranded (with their logo) trading platform for their clients. They then add their own fees on top of the IB commissions. This enables them to offer a trading platform to trade international exchanges but allow clients to deal locally with their broker while funding their accounts in their local currency.

Roland - can only talk ASX. $6 min comm, and monthly fee if less than a certain amount of trading done. Even with that I am finding it cheaper than CommSec.

 

[Lone Wolf]

looks like some useful changes at IB for us..

ENHANCED SERVICES - AUSTRALIAN LISTED SECURITIES
IB is pleased to announce enhanced services for our Australian and New Zealand clients investing in Australian listed securities. Included in the upgrades are improved recognition of Australian residency for cash dividends, better access to certain restricted corporate actions and share repurchase programs, and availability of reports detailing franking credits which may be useful for certain tax considerations.

In order to benefit from many of these changes, Australian residents will need to provide their TFN. This can be done via Account Management by updating the user information at any time. Please note that updating the TFN information is only necessary to benefit from preferential tax withholding and corporate action activity. Investors who do not trade Australian listed securities are not affected.

Is this on the IB website somewhere or was it sent out by email?

Previously in another thread IB users mentioned how difficult it was to organise tax on their IB holdings due to withholding tax and a lack of franking credit info. Does this new information make all the tax issues go away, or are there still issues with using IB for investment purposes?

I want to use IB for short term trading and index options. But was thinking it would be better to invest in ETF's and shares through an Australian broker to simplify tax. But if the tax complications have been sorted then IB would be all you need.

 

[Matty]

I got the email regarding entering TFN details, however I followed the very general instructions on how to add it and couldn't find the section anywhere on the Account Maintenance section. Pretty annoying, has anyone been able to do this yet?

 

[tech/a]

Have you down loaded the latest upgrade?

 

[freebird54]

I got the email regarding entering TFN details, however I followed the very general instructions on how to add it and couldn't find the section anywhere on the Account Maintenance section. Pretty annoying, has anyone been able to do this yet?

same problem - I ticketed them
anyone notice live chat is never available lately or is it just me

What if any is the downside of giving your taxfile number above?

 

[yada]

Can someone tell me how to fund an interactive brokers account?

It's been a while since I've done this, and when I used the previous details (Acc:121229005/BSB:242000) I had my funding deposit rejected and returned to the bank.

What is the BSB/Account Number to fund an IB account??
Or is there another way?

Thanks in advance

 

[glenn_r]

Can someone tell me how to fund an interactive brokers account?

It's been a while since I've done this, and when I used the previous details (Acc:121229005/BSB:242000) I had my funding deposit rejected and returned to the bank.

What is the BSB/Account Number to fund an IB account??
Or is there another way?

Thanks in advance

Use the "Wire" facility and they will tell you the Bank of America BSB and Account number as you click through.

 

[glenn_r]

same problem - I ticketed them
anyone notice live chat is never available lately or is it just me

What if any is the downside of giving your taxfile number above?

Navigating IB is an art, try this.


ACCOUNT MANAGEMENT > ACCOUNT ADMINISTRATION > ACCOUNT INFORMATION > MODIFY then click through to the next page and the TFN box will be there..

 

[lost872]

Hi All,


Just wondering if there is a free way to get upto date ASX data through IB, have been through the account settings page but they are asking for $36 odd gold coins to get it.


Any help will be fantastic.

lost872

 

[skc]

Hi All,


Just wondering if there is a free way to get upto date ASX data through IB, have been through the account settings page but they are asking for $36 odd gold coins to get it.


Any help will be fantastic.

lost872

If you happen to find a way to avoid commission as well please share it with us.

 

[ThingyMajiggy]

anyone else got a screen full of question marks at the moment? Showing its connected but no prices showing up etc. Weird.

 

[lost872]

anyone else got a screen full of question marks at the moment? Showing its connected but no prices showing up etc. Weird.

I'm only dealing with the US at the moment but that seems to happen to me around the time the market opens.
Only for about 20 secs or so and then it's back.

 

[ThingyMajiggy]

I'm only dealing with the US at the moment but that seems to happen to me around the time the market opens.
Only for about 20 secs or so and then it's back.

Mmmm yeah mines doing it all the time, been out since earlier this afternoon, looking in TWS and its all just question marks where the prices should be, but its showing its connected fine to the servers down the bottom right(green). Really starting to annoy me, couldn't chat to a customer service person either because thats "down for maintenance"

 

[tothemax6]

I'm interested in getting an IB account to access global markets, but my goal is not trading per se (i.e. at most I intend to place one trade per day, most likely one per month). My goal is primarily to buy stocks in certain industries of which the ASX has slim pickings, and to buy value stocks in foreign countries (eyes on Japan), both holding longer term. I know that IB is not aimed at this (and there will be an effective $120 service fee per year minimum due to the $10 minimum activity per month), but I think that's about the commission on 1 international comsec trade .

My question is, whilst I have heard that there is no pricing data (not even delayed prices) for ASX stock unless you buy the data feed, is there pricing data for Japan, US, Hong Kong stocks? Also, does IB give access to all the information one would receive via Comsec, such as announcements/news and financials?
Cheers!

 

[Tanaka]

I think you will notice on their website that there is a $2 a month news fee.

I'm also interested in IB but for futures, their trading platform (TWS) appears quite simple during my demo. I use Bullcharts at the moment for my Australian shares and have custom indicators for my systems. I want to know what other IB users use for charting software with IB futures? I did some research and found that Amibroker has a plug-in for IB, but it appears to be a bit slow from some reviews, what do others think?

 

[tech/a]

I think you will notice on their website that there is a $2 a month news fee.

I'm also interested in IB but for futures, their trading platform (TWS) appears quite simple during my demo. I use Bullcharts at the moment for my Australian shares and have custom indicators for my systems. I want to know what other IB users use for charting software with IB futures? I did some research and found that Amibroker has a plug-in for IB, but it appears to be a bit slow from some reviews, what do others think?

I use the IB platform for trades and run tradeguider R/T charts on separate screen.

 

[Tanaka]

Thanks Tech!

I'm having a look at their website now.

 

[Tanaka]

I use the IB platform for trades and run tradeguider R/T charts on separate screen.

So how does data subscription work with you Tech? Are you able to trade futures on IB without a data feed? do you just have the data feeding to tradeguider?
forgive my ignorance I have always traded forex and australian shares with no need to fetch data except on Bullcharts.