Interactive Brokers

[captain black]

Is the increase in margin for small caps an IB initiative or an exchange initiative?

It's an IB initiative affecting small cap stocks (<250 million) on worldwide exchanges.

http://ibkb.interactivebrokers.com/node/1788

My ASX systems have been in cash since May so I'm not affected by margin calls as such however there are times when using margin/leverage on small cap stocks can be very rewarding such as the period from September-December last year.

 

[tech/a]

Is the increase in margin for small caps an IB initiative or an exchange initiative?

I am not going to question the wisdom of using margin in the current market, but it does seem like if you sell you would have a fair chance of buying it back lower once your positions are successfully transferred.

Just sell enough to avoid the call.
Thats all they will do if you left it.
If your trading correctly you shouldnt ever experience a margin call.
Ive never had one in 17 yrs and use margin all the time.

 

[bellenuit]

Where do you get the margin requirements for Australian Shares?

IB states:

"Margin requirements are determined by risk-based portfolio analysis models specified by each exchange. For details, visit the specific exchange site in question."

I haven't been able to find anything on the ASX site related to shares. When I search these forums, all the answers to similar questions have said that they are set by the broker. The only think I can find on the broker site, except for the above quote, is the list of exceptions that were posted here last week following the small cap margin changes.

 

[AubreyThompson]

I've heard good things about Interactive Brokers too, and that they cost cheap. But haven't use it before, maybe worth trying it.

 

[Bullman]

HI,

I have completed most of the application for an account with IB. I have lodged all of the identity documents and mailed in the required certified documents as well. When i visit my applications progress on the IB website it says all the forms are "Tentatively Accepted".

I haven't transferred any funds yet as i was expecting some kind of notification that the documents passed scrutiny and i can proceed to transfer over funds. is that correct?

In the set up process is there a point when you are told to forward funds or is it when you have submitted all paperwork?

they could make this a little easier.

thanks in advance.

 

[bellenuit]

HI,

I have completed most of the application for an account with IB. I have lodged all of the identity documents and mailed in the required certified documents as well. When i visit my applications progress on the IB website it says all the forms are "Tentatively Accepted".

I haven't transferred any funds yet as i was expecting some kind of notification that the documents passed scrutiny and i can proceed to transfer over funds. is that correct?

In the set up process is there a point when you are told to forward funds or is it when you have submitted all paperwork?

they could make this a little easier.

thanks in advance.

It will remain tentatively accepted for a few days and then once they have finished their checks you will get an email saying your account is now active and to complete the funding process. Don't fund until you get that email, in case they don't accept you.

Did you indicate how you were going to fund the account during the application process? When I applied to open my first account, I set up an acats transfer to transfer shares from a US broker. They seemed to put the transfer on hold until they accepted my application and then automatically released it, without me having to do anything. When I opened my second account, I said I would fund by cash. When accepted, they gave me the option to either continue with the cash funding by the method I had indicated or I could cancel that transaction and fund by a different method.

 

[Bullman]

It will remain tentatively accepted for a few days and then once they have finished their checks you will get an email saying your account is now active and to complete the funding process. Don't fund until you get that email, in case they don't accept you.

Did you indicate how you were going to fund the account during the application process? When I applied to open my first account, I set up an acats transfer to transfer shares from a US broker. They seemed to put the transfer on hold until they accepted my application and then automatically released it, without me having to do anything. When I opened my second account, I said I would fund by cash. When accepted, they gave me the option to either continue with the cash funding by the method I had indicated or I could cancel that transaction and fund by a different method.

Thanks Bellenuit

i initalli chose share transfer but after reading that it can be a bit of a pain i changed it to cash transfer using the wire option. i will hold off on the transfer

cheers

 

[village idiot]

perhaps I put this in the wrong thread;

couple of questions on opening an IB account for a SMSF;

what website have others used for opening an account for a SMSF? I have heard/seen an Australian IB office referred but cant find it on the net. link? Do you just use the US website to open an account?

Is it possible to have a IB account for a SMSF with a corp trustee linked to another IB account, so that you can log on once with one set of username etc and flick between the accounts, and pay for market data once and have it used for both accounts?

as a background I have an IB account set up with IB UK. base currency is in GBP, so if I want to transfer in/out it has to go through a UK bank. I could use the link they provide to set up a linked account with that, but for a start it seems to only allow an 'individual' account, which is not what I need, so I am guessing that rules it out for an SMSF.

The alternative seems to be open a new account for the SMSF with IB US, but select base currency as AUD, (which as I understand it means you deposit funds into a Aust bank account?).

But presumably that means the market data I am already paying for wouldnt show up in the smsf account, meaning to trade I would have to open up one TWS application for the SMSF account, then another one for the other account, log into both and use the market data from the existing account to trade the SMSF account. seems a bit cumbersome, anyone got a way round it?


thanks

 

[skc]

perhaps I put this in the wrong thread;

couple of questions on opening an IB account for a SMSF;

what website have others used for opening an account for a SMSF? I have heard/seen an Australian IB office referred but cant find it on the net. link? Do you just use the US website to open an account?

http://www.interactivebrokers.com.au/

Is it possible to have a IB account for a SMSF with a corp trustee linked to another IB account, so that you can log on once with one set of username etc and flick between the accounts, and pay for market data once and have it used for both accounts?

as a background I have an IB account set up with IB UK. base currency is in GBP, so if I want to transfer in/out it has to go through a UK bank. I could use the link they provide to set up a linked account with that, but for a start it seems to only allow an 'individual' account, which is not what I need, so I am guessing that rules it out for an SMSF.

The alternative seems to be open a new account for the SMSF with IB US, but select base currency as AUD, (which as I understand it means you deposit funds into a Aust bank account?).

But presumably that means the market data I am already paying for wouldnt show up in the smsf account, meaning to trade I would have to open up one TWS application for the SMSF account, then another one for the other account, log into both and use the market data from the existing account to trade the SMSF account. seems a bit cumbersome, anyone got a way round it?

thanks

Doubt too many people had similar requirements here. Prob best just ask an IB rep...

 

[village idiot]

ok point taken. I was just trying to google it where all links lead back to the US site

Prob best just ask an IB rep...

yeah there was one who puts in an appearance here occasionally, was hoping he might answer.


anyway I have now called the helpdesk and their advice is to forget the UK account and instead open a 'friends and family' account via the aust site. I can then open two sub accounts, (one trust account and one individual account) which would then be linked so one logon, can access both accounts via message centre, and use the one market data for both. according to the nice lady i spoke to.

 

[BasuraBreakout]

Re: Interactive Brokers - Technical Trading

Hi guys,

I've recently signed up to IB only to realise there's a very limited charting service built-in. As such I've downloaded NinjaTrader 7 which is pretty good, but I can't work out if it's possible to automate trading through IB based on trade alerts generated through NinjaTrader. For example, a buy-alert is given when price hits a trading channel line - is there some way IB can be set up to execute that trade based on the alert without manually doing it?

Cheers.

 

[Market Sniper]

Re: Interactive Brokers - Technical Trading

Hi guys,

I've recently signed up to IB only to realise there's a very limited charting service built-in. As such I've downloaded NinjaTrader 7 which is pretty good, but I can't work out if it's possible to automate trading through IB based on trade alerts generated through NinjaTrader. For example, a buy-alert is given when price hits a trading channel line - is there some way IB can be set up to execute that trade based on the alert without manually doing it?

Cheers.

Although i havent done it myself, Im sure I have read somewhere that you can automate your strategies through NT7 and IB being your broker.

Have you checked out Ninja's forums?

 

[Punta]

Re: Interactive Brokers - Technical Trading

Hi guys,
is there some way IB can be set up to execute that trade based on the alert without manually doing it?

Yeah IB has various ways to talk to TWS automatically - from Excel to C++ and java. Check out the Getting Started Guides tab here

http://www.interactivebrokers.com/en/p.php?f=programInterface

It will take a while to get into, but well worth it in the end - you can write completely automated trading bots.

 

[Punta]

No idea about NinjaTrader, but if there's a way to get that to talk to Excel/java, you're away...

 

[BasuraBreakout]

Re: Interactive Brokers - Technical Trading

Although i havent done it myself, Im sure I have read somewhere that you can automate your strategies through NT7 and IB being your broker.

Have you checked out Ninja's forums?

Thanks mate, I would have thought it'd be possible too. I've left a post on a NJ forum but no-one's responded yet. Will come back to this thread when I get to the bottom of it. Cheers

 

[Market Sniper]

Has anyone had success in contacting IB through their "chat" service lately?

Last couple of times i have looked it has been down due to maintenance.

Thanks.

 

[bellenuit]

Has anyone had success in contacting IB through their "chat" service lately?

Last couple of times i have looked it has been down due to maintenance.

Thanks.

It was about 2 weeks ago since I last used it, but it was fine then.

 

[Market Sniper]

It was about 2 weeks ago since I last used it, but it was fine then.

Yeah thanks bellenuit, I tried a couple of hours later and go through no problem.

Must have just caught them at a bad time previously.

Cheers

 

[tminus]

IB won't allow you short RIO shares now. They are also displaying the SPI as being up 1.57% today.

 

[Strident]

Have a bit of a problem...

A long time ago when I was less older and less wiser I read some advice on the forum about using IB to buy small parcels to play SPPs and the like.

IB didn't really work out for me, so I stopped using it but now I get hit with the minimum fee every month. I wanted to close the account, but:

- Can't close the account with open stock positions,
- I'm not allowed to transfer the small parcels out because they aren't marketable,
- Selling $1 of stock is going to cost more than they are worth.

What do? Must I sell all the parcels in IB to close the account? Can I give them away to someone? Any help appreciated.