Interactive Brokers

[IFocus]

Hi guys, question to anyone using margin lending with IB. I am interested in getting a margin loan for US and Aus. stocks. Do they have a list of ASX stocks for which they allow margin and what LVR. I tried to find on their website, could not find anything.

You simply open a margin account and a rough gauge (very rough) you get 4 times margin during market open hours and 2 times out side of market hours (for equities)

Perry should have a more accurate reply.

 

[Perryt]

Hi guys, question to anyone using margin lending with IB. I am interested in getting a margin loan for US and Aus. stocks. Do they have a list of ASX stocks for which they allow margin and what LVR. I tried to find on their website, could not find anything.

Hi Hawamahal,

We are currently using a US based system that has an initial of 50% and maintenance of 25% for large cap stocks. Certain small cap stocks have higher margin requirements. You can test any stock by bringing up an order in the TWS and using the ‘Check Margin’ feature in the TWS. We will be switching over to the ACH based risk based model which should significantly lower requirements in the next week or two.

Additionally, stocks with increased margin requirements due to a variety of risk factors are provided at the link below along with their requirements.

http://www.interactivebrokers.com.h...ia&tag=Australia&ib_entity=hk&ln=&b=AAL&e=BCN

Thanks and regards
Perry
IB Sales Rep

 

[ROE]

How do I go about transfer my existing open options position with comsec to IB
along with collateral stocks I put up for the clearing house?

Can someone post me a link to IB margin requirement and calculation for options?

 

[zaccy]

Hi Happy2be,

We are focusing on our attention on Australian products.
Adding 200 stocks to our shorting list,

regards
Perry
IB Sales Rep

Sounds good ! Any idea when the shorting list will be available ?

 

[toocool]

Sounds good ! Any idea when the shorting list will be available ?

It has been for a few weeks now, I have two smaller caps that I didnt think would be available and a bigger finance one.

You may need to add the shortable tab on to your dashboard and bring some quotes up and see

 

[skyQuake]

Sounds good ! Any idea when the shorting list will be available ?

http://www.interactivebrokers.com/e...try=australia&tag=Australia&ib_entity=llc&ln=

 

[davede]

Good to get a lot of feedback on these guys.

Think I may open an account.

 

[Ibbz]

Hi Darkerdragon,

1. For booktrader to show the available market depths, you will need to subscribe to real time market data. You cannot access market depth without real time market data.

Cheers
Perry
IB Sales Rep

Hi Perry,

I have the ASX Real Time Data subscription and I only receive the 5 market depth levels - it would be of huge help if Interactive Brokers could provide full market depth information, similar to what is available from other Australian brokers.

Thanks for your time.

 

[bathuu]

Hi guys,

I just opened a new IB account today /still have not logged in, yet/, after realising that my few months' of little profit was getting eaten by commsec brokerage quite badly. It seemed super powerfull platform, with many fancy stuffs compared with commsec. Now I need to know what is the best way to get a quote with IB. I know IB offers live data for $37.50 a month and is it better or worse than webiress /i used commseciress, so trying to compare it in order to find out what is it like/? I mainly work on slow moving penny stocks, so I even wonder if I need that live push data. /I do not mind doing few refreshes in my commsec account if IB does not have something similar/. Even if IB does not offer any quote or I don't subscribe its live data will I be able to submit an order to get it executed, assuming I am monitoring the price on commsec website? You all understand that as a beginner my aim is to keep all this additional expenses down as much as I can. Any advise on my issue from experienced IB users will be appreciated?

Thanks guys

 

[Tanaka]

hi bathuu, as far as i know you're either paying for live data or not with IB, the free stuff is 20 minutes delayed. You may want to check their website, but when I bring up a quote in TWS for something I'm not subscribed to it is delayed 20 minutes, no refresh button I'm aware of.

 

[bathuu]

Thanks for reply, Tanaka

So if I don't subscribe that $37.50 per month live data they won't let me trade? I thought this was optional. But anyway, I will double check that with IB. So the free quotes in IB delayed by 20 minutes like Yahoo? I think I can live with that by getting real time quotes and market depths from 'refreshable' commsec account.

Thanks

 

[toocool]

Thanks for reply, Tanaka

I think I can live with that by getting real time quotes and market depths from 'refreshable' commsec account.

Thanks

Thats what I do.

SPI Real time data is free with IB, not sure why its free and real time and nothing else is

 

[bathuu]

First day with IB, I tried WebTrader and I am absolutely in love with IB, I already did 2 trades with IB today and it takes off a lot pressure from me when I think I am paying only $6 one way compared to $20 with commsec each way., therefore increases my profit margin in successful trade and reduces my loss in bad trades. It is not that bad as I thought for live quotes. WebTrader at least provides top line of bid and ask price, quantities for each side, last price and volume in portfolio section. It also gives same single line live quote for any stock that you want to trade in order management section. It seems WebTrader is very simple to use. I haven't explored TWS yet, seems more complicated than WebTrader.

 

[Tanaka]

Thats what I do.

SPI Real time data is free with IB, not sure why its free and real time and nothing else is

That is interesting, I already subscribe to real time with esignal, as I use tick charts, the volume data is much better with esignal, as IB give 1 second snap shots instead of true raw tick data. This doesn't make any difference if you're a swing trader but I scalp at times.

 

[freebird54]

Thats what I do.

SPI Real time data is free with IB, not sure why its free and real time and nothing else is

Where do you find the live SPI data please?

BTW have been with IB a while - I use multiple screen setups with quotetracker live feed and westpac watchlists market depth for option trading - all free and work for me.

Except I cannot get UK LSE stocks with it now - Money am, motley fool etc. fail - anyone know one that works? ADVFN will not feed but does have live prices.

 

[village idiot]

Perry I think the HIN issue is keeping many SMSF (Self Managed Superfund's)from using your services as its an audit problem for many.

Sort this out and I would suspect you will certainly attract a lot more retain business.

+1

I am just about to set up a SMSF, would like to use IB but the audit/lack of HIN issue seem to be a problem. Any ETA for getting it sorted?

Is anyone now using IB for their SMSF anyway?

thanks

 

[Boggo]

Perry I think the HIN issue is keeping many SMSF (Self Managed Superfund's)from using your services as its an audit problem for many.

Sort this out and I would suspect you will certainly attract a lot more retain business.

+1

I too am waiting for this, I am assuming that the money could also still be held in an individual account with a locally based institution.

 

[titl4]

...................
Is anyone now using IB for their SMSF anyway?

Yes but only for non Australian shares until CHESS sponsorship is available.

 

[village idiot]

so what exactly is the problem with a SMSF using IB?

is it that
a) SMSF rules require you to have the shareholding registered to the SMSF specifically (HIN) rather than to the broker
b) you dont get a separate contract note for each trade and the electronic (end of year or otherwise) statements you can get from IB are not enough to pass an audit
c) the dividends listed on the IB statements do not mention the tax credits, and we need a specific statemnt of tax credits to pass audit + claim refund on the credit.
(presumably its not good enough to gather evidence of the level of tax credit eg from the asx website and compute it yourself?)

presumably if you can hold overseas shares a) and b) dont get complied with there either so it must be c) or something else?


thanks

 

[elbee]

I have been using IB as my broker for my SMSF for several years including trades for Australian equities.

I have no problems with my auditor. I print out the IB fiscal year statements for the auditor and prepare a schedule listing dividends received and franking credits claimed which can be easily checked against a number of online resources.