Interactive Brokers

[habanero]

HI everyone,

-no market depth will be shown unless you subscribe to their live dynamic data for around $37 per month
(if you have two brokerage, you can see market depth on other brokerage platform and trade with IB)

-there is NO indicative price shown on auction periods
(if you have two brokerage, you can see market depth on other brokerage platform and trade with IB)

happy trading everyone =]

cheers
Sergio

Thanks Sergio.

Following on from Sergio's point -

I like the look of Amibroker for t a.

I like the price of IB for trading.

I need to be able to scan in real time and also have full market depth.

What's the best & cheapest way of doing so. I've heard with IB you can only see 5 lines of depth. I would prefer 10+. Obviously I could just 'refresh' on my Commsec account but would prefer not to. Or pay for their platform - expensive as I don't plan on trading through Commec.

I guess what I'm asking is where can I get real time data for Amibroker so that I can see full depth and then just execute though IB? I don't want to pay for the IB data if it won't give me the depth in IB or Amibroker. thank you

 

[tech/a]

Thanks Sergio.

Following on from Sergio's point -

I like the look of Amibroker for t a.

I like the price of IB for trading.

I need to be able to scan in real time and also have full market depth.

What's the best & cheapest way of doing so. I've heard with IB you can only see 5 lines of depth. I would prefer 10+. Obviously I could just 'refresh' on my Commsec account but would prefer not to. Or pay for their platform - expensive as I don't plan on trading through Commec.

I guess what I'm asking is where can I get real time data for Amibroker so that I can see full depth and then just execute though IB? I don't want to pay for the IB data if it won't give me the depth in IB or Amibroker. thank you

I use e signal.
Through Trade guider but you can also use Amibroker.

 

[CanOz]

I use e signal.
Through Trade guider but you can also use Amibroker.

Can you get Level II market depth with eSignal on ASX stocks tech?

 

[Sergio]

Good Evening guys,

i got a question regarding money transfer from IB to my commonwealth bank...



usually, how long does it takes to transfer to commonwealth bank?

where should i put my BSB number?

i dunno what is SWIFT code but i will find it up and i guess it gonna transfer faster if i provide the SWIFT code?

thanks in advance,
Sergio =]

 

[Sergio]

Good Evening guys,

i got a question regarding money transfer from IB to my commonwealth bank...

View attachment 51388

usually, how long does it takes to transfer to commonwealth bank?

where should i put my BSB number?

i dunno what is SWIFT code but i will find it up and i guess it gonna transfer faster if i provide the SWIFT code?

thanks in advance,
Sergio =]

i got the answer by myself..put the bsb number altogether with acc number..

 

[Sergio]

i read on other IB thread and it was a difficulties to participate on opening and closing auction with IB, however it was back in 2009.

i could not find latest info regarding this.

can anyone assist me on how to participate on auction? i can see the indicative price from other brokerage but i dunno how to participate. i was ask IB through email but they not really addressed my question

any help will be greatly appreciated

regards
Sergio


ps/edit:

they refer me to these, however these are not for ASX.... =[

http://www.interactivebrokers.com/en/?f=/en/trading/orders/moc.php?ib_entity=llc

http://www.interactivebrokers.com/en/?f=/en/trading/orders/moo.php?ib_entity=llc

 

[baxter]

i read on other IB thread and it was a difficulties to participate on opening and closing auction with IB, however it was back in 2009.

Hi Sergio,

Participation in opening and closing auctions with IB is very easy and no different to any other Australian broker. You simply put your orders in before the particular stock opens, they are visible in the market, you can see the indicative opening price (on other brokers - this was the whole point of my posts above that you can't see this with IB), and if you like the price that you're going to get filled at, leave your order in the market. If the price is going to open at a price that you're not happy with, cancel your order.

IB is very very fast at being able to do this, and you can have multiple orders set up ready to go on your main screen, so if you want to cancel one and put a different one in, you can do this without adjusting the original one (can make a difference when it's seconds that count). Just make sure you know the opening times for each stock that you're going to trade, ie.

Group 1 10:00:00 am +/- 15 secs A-B, e.g. ANZ, BHP
Group 2 10:02:15 am +/- 15 secs C-F, e.g. CPU, DVT, ECP, FXJ
Group 3 10:04:30 am +/- 15 secs G-M, e.g. GHP, KYC, LIB
Group 4 10:06:45 am +/- 15 secs N-R, e.g. QAN
Group 5 10:09:00 am +/- 15 secs S-Z, e.g. TLS

and keep a very close eye on the prices. Same for the closing auction except all the stocks close together. Th ASX say the closing auction is between 4:10 and 4:12, but in practice it seems to be more generally between 4:10:20 and 4:10:45 (but that's just my observations).

Hope that helps as it can often be a great time to trade, especially when you're trading stocks 50c and under where for example the 1/2 cent can make quite a difference (in fact it might be the whole point of your trade!).

Cheers,
Baxter.

 

[Sergio]

Thanks for your reply, Baxter.. =]


finally i did my first trade with MYR yesterday and go into dividend.

i read couple of posts and find out that dividend will come to my IB account (not to other bank account/check/etc) which is fine for me,
but i couldnt find how i can update my TFN on the stock (MYR).. =[

as it is not on our name, i assume we cant update our TFN, so dividend amount will be deducted by 46.5% and we can claim some back on tax return period..

am i missing something?


regards
Sergio

 

[geeroy]

you put your TFN in the account management. cant remember where exactly but its there

 

[Sergio]

Thanks for your reply =]

-update TFN : i was forget my TFN at the time of registering, to update it, i log in to account management , once u logged in, see an icon next to "log out" which is your IB account and start with "U". Click it and click account details.
then, see the fourth row from the top (third row will be your name) and click on W-8......scroll down the form until the end of part 1 then fill your TFN there. then scroll to the bottom and click continue

have a great weekend everyone =]

regards
sergio

 

[Sergio]

hi guys,

i just sold my first parcel of share with IB..

and i realised that i cant buy any share yet..

when i can start trade again? how long does it takes for IB to make the payment clear?so i need to wait payment clear first in order to buy another share?


ps: just having chat with IB customer service..
they said i can do next trade in the next 3 business day except i am using margin account

 

[Trembling Hand]

i just sold my first parcel of share with IB..

and i realised that i cant buy any share yet..

when i can start trade again?

So you are using ALL your funds for one position?! :cowboy:

 

[YMI]

So you are using ALL your funds for one position?! :cowboy:

Interesting, what’s wrong with that? I did the same and can’t see a disadvantage except that it takes more time because I can’t simply reenter, I have to wait T+3 and then search for a new buying opportunity. Can you please explain if I am wrong?

 

[skc]

Interesting, what’s wrong with that? I did the same and can’t see a disadvantage except that it takes more time because I can’t simply reenter, I have to wait T+3 and then search for a new buying opportunity. Can you please explain if I am wrong?

I think the comment refers more to the risk side rather than how quickly you can buy more share.

Having 100% capital on one position is usually not a sign of prudent risk management. You just never know what can happen.

 

[CanOz]

Interesting, what’s wrong with that? I did the same and can’t see a disadvantage except that it takes more time because I can’t simply reenter, I have to wait T+3 and then search for a new buying opportunity. Can you please explain if I am wrong?

Risk of ruin...a good start.

 

[YMI]

I think the comment refers more to the risk side rather than how quickly you can buy more share.

Having 100% capital on one position is usually not a sign of prudent risk management. You just never know what can happen.

I have to admit this is right if by accident I buy a stock like Sundance today. But I didn’t actually mean 100% of all money I own, I meant 100% of the money in my broker account and that isn’t so much at the moment.

 

[Sergio]

yes, i do use all of my funds in one position..
it is not a smart risk diversification..

but i think it will magnify my profit as well as my loss..so i think thats fair enough..haha
in addition, my capital is not much..

ermm...for the settlement date, i decide to join their margin account..not for borrow money, but to allow me to buy another shares without waiting 3 settlement days...so i wont charged for interest..(buy amount not exceed sell amount)

in future i might use the margin for more than overcoming settlement issue..(here i will do diversification to reduce the risk of margin call)

cheers
Sergio

 

[miraclemuz]

I have to admit this is right if by accident I buy a stock like Sundance today. But I didn’t actually mean 100% of all money I own, I meant 100% of the money in my broker account and that isn’t so much at the moment.

I don't think they are referring to what money you have overall, but the money you have in the account. The amount you have in your account compared to what you have outside doesn't really matter. With any investing, you want to get a good balance between risk and reward. Putting all your money (that's in your account) in one trade, while potential profitable, is also very risky. Spreading your money over a number of trades reduces the risk exposure. Also, depending what type of trading you are doing even having a small amount in an account can result in a large debt, if your trade goes pair shaped very quickly.

 

[Sergio]

guys, i have a simple case..

if the only money i put on IB account is 20k and i decide to buy a share for 20k. means my buying power now is 0.

if on monday i sell that share worth of 25k* (5k gain from capital).and i want to buy another share, i have to wait for 3 settlement days right?

how about if i have a T margin account? is that means i can buy another share on the same day (monday) worth of 25k (without interest applied to me) or up to 50k** (with interest applied to me). is that correct?

and the interest charged gonna be 4,464% ?***



* i know that 5k gain out of 20k is imposible , that's just example
** 50k figures come from 25k X 4 X 50%(all australian margin capabilities)
*** http://www.interactivebrokers.com/en/index.php?f=interest&p=schedule2

i been through a chat with the customer rep but seems their answer is sometimes confusing and unreliable.. =[

can anyone give me an answer regarding this please? =]

thanks heaps

Sergio=]

 

[comparebroker]

The online broking company "Interactive Brokers" looks attractive with its promises of $6 per trade commissions. However, it appears to be designed for professional traders who deal in big bucks than with the everyday traders.

I'd be grateful if anybody who uses or knows about this broker can give me some advice. In particular, if there are any hidden nasties like fees, minimum trades, commissions etc involved. Or, if you have had great and reliable dealings with these guys and there are no hidden extras I'd be interesting in hearing about it.

I think Interactive Brokers is a good way to start trading. The platform is good enough and the fees are not very high.