Interactive Brokers

[skc]

Mobile TWS down...

While I'm away from my PC, I use TWS iPhone or iPad for convenience.
But this morning I can't log in to the server - the Hong Kong server.
I phoned the US support and they told me the HK server is down.

I think when you log on to Mobile TWS it tries to connect to the nearest IB server,
so if you are in Oz, you will be directed to HK. There is no setting for you to change it
to another server - so you get stuck and unable to trade.

While I'm typing this (9:40am AEDT), the HK server is still down.

Not good enough IB....

I am using my PC but when I change the region to America or Europe the login still doesn't work...

 

[freebird54]

We are currently experiencing technical difficulties impacting select clients who connect through our Hong Kong server. We expect to have this issue resolved shortly and appreciate your patience in this matter.

[Mesg Id: 393918]

not happy - cannot get through on phone either!!!

 

[DocK]

Can't log on either - perhaps the Mayans are right and the world is about to end

 

[skc]

All back on now.

 

[ThingyMajiggy]

My orders still aren't going through

 

[skc]

My orders still aren't going through

Did a trade about 10 minutes ago and it was fine.

 

[baby_swallow]

The SPI did a "pump and dump" price action this morning.....
Missed the opportunity to make a bit more $ before the holidays...Ah well

 

[arnie78]

Re: Interactive Brokers cash account t_margin

hi everyone,

opened a IB account already however stumped on cash account vs t-margin account? my base currency is in AUD.

eg mainly trading futures on the spi, eurex, hkfe, sgx, nse,globex however they all use different currencies etc. with a cash account they say i must convert my money in that currency before i can make a trade and vice versa

If someone could explain to me how it works and what would be the best way to go would be greatly appreciated??
With reg t margin borrowing from IB at eg libor rate if im in and out how does that work?
Are the profits or losses converted debited or credited from my account?
If this helps i will be scalping the market, out before the close of day session.


Cheers

 

[CanOz]

Re: Interactive Brokers cash account t_margin

hi everyone,

opened a IB account already however stumped on cash account vs t-margin account? my base currency is in AUD.

eg mainly trading futures on the spi, eurex, hkfe, sgx, nse,globex however they all use different currencies etc. with a cash account they say i must convert my money in that currency before i can make a trade and vice versa

If someone could explain to me how it works and what would be the best way to go would be greatly appreciated??
With reg t margin borrowing from IB at eg libor rate if im in and out how does that work?
Are the profits or losses converted debited or credited from my account?
If this helps i will be scalping the market, out before the close of day session.


Cheers

When you purchase a derivative from an exchange it does the conversion for you, on the way in and out. Don't worry about it, just execute your trades. The difference in the exchange rate should not be a factor unless you are holding over night, which i would not recommend unless you are an experienced trade with a proven strategy, very deep pockets, and no stomach problems.

CanOz

 

[arnie78]

Re: Interactive Brokers cash account t_margin

When you purchase a derivative from an exchange it does the conversion for you, on the way in and out. Don't worry about it, just execute your trades. The difference in the exchange rate should not be a factor unless you are holding over night, which i would not recommend unless you are an experienced trade with a proven strategy, very deep pockets, and no stomach problems.

CanOz

hi mate thanks for that, nope i wont be doing any position trading until i have deep pockets .
so you just have a cash account then or a reg t margin?
if you have a cash account your saying just go ahead a trade and the initial margin maintenance margins will all be converted etc, while the profil or loss is again converted back into aud? eg USD for a ym trade.

cheers

 

[CanOz]

Re: Interactive Brokers cash account t_margin

hi mate thanks for that, nope i wont be doing any position trading until i have deep pockets .
so you just have a cash account then or a reg t margin?
if you have a cash account your saying just go ahead a trade and the initial margin maintenance margins will all be converted etc, while the profil or loss is again converted back into aud? eg USD for a ym trade.

cheers

I have a Reg T margin account....

 

[arnie78]

Re: Interactive Brokers cash account t_margin

I have a Reg T margin account....

thanks how does the t-margin account work with aud base currency?
mainly what are the costs in having one trading mainly futures only.

cheers

 

[CanOz]

Re: Interactive Brokers cash account t_margin

thanks how does the t-margin account work with aud base currency?
mainly what are the costs in having one trading mainly futures only.

cheers

For futures, the T margin is basically useless. If you need 5000 AUD for total margin (initial and maint.) then you must have that in your account. The T Margin comes in handy if you are trading equities, you'll have more buying power. For example if you have 100k in your account you'll be able to have 300k worth of open positions.

The margin however, should be used to have more open positions, not more risk per position. You should only be risking x% of your capital, not x% of your capital plus margin loan.

Its quite "idiot-proof" too, so even if you don't understand it precisely they don't let you do much more than you are really capable for, because they want to protect the other clients as well. When i first started i was a little concerned but i just bought and sold stocks to get familiar with it, and paper traded futures to get confident with that side of it.

CanOz

 

[arnie78]

Re: Interactive Brokers cash account t_margin

For futures, the T margin is basically useless. If you need 5000 AUD for total margin (initial and maint.) then you must have that in your account. The T Margin comes in handy if you are trading equities, you'll have more buying power. For example if you have 100k in your account you'll be able to have 300k worth of open positions.

The margin however, should be used to have more open positions, not more risk per position. You should only be risking x% of your capital, not x% of your capital plus margin loan.

Its quite "idiot-proof" too, so even if you don't understand it precisely they don't let you do much more than you are really capable for, because they want to protect the other clients as well. When i first started i was a little concerned but i just bought and sold stocks to get familiar with it, and paper traded futures to get confident with that side of it.

CanOz

thanks mate, im not wanting to take on more risk at all.

with the cash or t margin account is the whole currency conversion this thats where im totally confused. I rang up IB they told me if you want to purchase eg a contract in the hsi you will need to have hkd then convery the hkd back to aud etc etc, via the forex... so thats why im considering a t margin account for that reason?

if you use a cash account in aud base currency and you trade foreign futures markets that use another currency usd how does it work (eg purchasing 1 ym contract then selling 1 ym contract for a profit of $10 ? and what is the best and easiest economical way to go?

SO with a T margin account im able to use IB to help with extra margin i may need to open a position?



cheers

 

[Trembling Hand]

Re: Interactive Brokers cash account t_margin

SO with a T margin account im able to use IB to help with extra margin i may need to open a position?

If you want to trade futs you need a T-margin account.

You simply place a trade, close it and then you have your P & L in the native currency of the fut contract.

At some stage you have to transfer it back into AUD. Thats done via "Closing all non Base Currencies" unless you are doing massive $ you are not likely to need to do this any more than every few months.... at most.

 

[arnie78]

Re: Interactive Brokers cash account t_margin

If you want to trade futs you need a T-margin account.

You simply place a trade, close it and then you have your P & L in the native currency of the fut contract.

At some stage you have to transfer it back into AUD. Thats done via "Closing all non Base Currencies" unless you are doing massive $ you are not likely to need to do this any more than every few months.... at most.

Thanks so there is a option in to close all non base currencies with a simple click? well that saves all the hassle.

so how does the t marging work with futures?

cheers

 

[Trembling Hand]

Re: Interactive Brokers cash account t_margin

Thanks so there is a option in to close all non base currencies with a simple click? well that saves all the hassle.

It will cost you brokerage and the spread.

so how does the t marging work with futures?

cheers

http://individuals.interactivebrokers.com/en/index.php?f=4745

 

[So_Cynical]

While we are on the subject of margin...do i get to nominate the % of margin i want on each trade? within the IB limits of course...i mean can i buy FB stock with a 20% margin and then BHP with 40% ?

 

[skc]

While we are on the subject of margin...do i get to nominate the % of margin i want on each trade? within the IB limits of course...i mean can i buy FB stock with a 20% margin and then BHP with 40% ?

No you don't nominate for each stock. The margin is done across the account.

As far as I know with the Reg T account you can buy up to 200% of your equity (i.e. 50% initial margin). For maintainence (i.e. holding) it's 25%. But a recent change means that margin is not available to any stock with market cap under $100m (don't quote me... it might be a higher number).

So if you have $20k, you can buy say $40k BHP, or you can only buy $20k worth of small specie.

If you buy $40k BHP, you need to keep 25% as maintainence... so $10k is used as margin and another $10k is still available for buying. With this other $10k you have a purchasing power of $20k in large cap or no leverage in the smaller end.

 

[WilkensOne]

Hey forum goers,

I am looking at setting up an IB account for myself, I am not looking to trade yet and am starting to get everything setup for when I am ready. I notice that you can complete a standard or pro application through there website. Just wanted your suggestion if it is worth setting up the pro application from the beginning although I wont use the features to begin with?

Cheers
Wilkens