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Anyone with IB currently experiencing non-responsiveness from client services / customer service?
Radio silence for me. No one is responding to any queries/questions.
Might have to switch brokers at this rate.
 
IB12 said:
Anyone with IB currently experiencing non-responsiveness from client services / customer service?
Radio silence for me. No one is responding to any queries/questions.
Might have to switch brokers at this rate.
Click to expand...

I opened a ticket regarding the problem I mentioned here last week: unable to write a covered call. I think this was last Thursday. The status remained at "new" until I think Monday night, so I added the question if there was any progress re my issue. I did get a response to that the following day saying they are working on it and would let me know when it is resolved.

I'm kind of hoping that in my case the issue isn't so much an error with the system or with my set up, but is something to do with "margin" that will be resolved when they allow margin on individual accounts. As explained above in my previous post, the error message related to a margin issue, even though margin didn't really apply to my situation.

Is it possible that your question is related to margin and they are just waiting to make a general announcement on the issue, hopefully within a very short time?
 
Yeah, took 3 working nights. Hopefully this is because they used a new account. I think new bank transfers between accounts are longer. Will see next withdraw.
 
minwa said:
Yeah, took 3 working nights. Hopefully this is because they used a new account. I think new bank transfers between accounts are longer. Will see next withdraw.
Click to expand...

Cool.

Keep up posted,

Its been a while but last time I did a withdrawal ( pre Aus account ) the cash turned up in my bank account same day.
 
Has anyone who trades on IB using a company been invited to transfer to the Australian IB yet? My individual account was invited about 4 weeks ago, but there has been no invite to my company yet.
 
bellenuit said:
Has anyone who trades on IB using a company been invited to transfer to the Australian IB yet? My individual account was invited about 4 weeks ago, but there has been no invite to my company yet.
Click to expand...

my IB account is a company trust. haven't heard anything yet either. i actually logged onto their live support chat service (via account management) yesterday evening to ask about it, but their support guys who were on shift at that time weren't able to say, and could only suggest contacting them during HK hours, as the transfer is being handled by their HK office.

i'm unable to do that because i'm at work during those hours and i don't want to risk logging onto the IB live support line using company equipment. if you're able to do so, perhaps you could try asking them at that time and see what they say?
 
Sharkman said:
if you're able to do so, perhaps you could try asking them at that time and see what they say?
Click to expand...

I used live chat a few minutes ago and was told that individual accounts would be first and companies later, but they had no ETA on when the process would start for companies.
 
bellenuit said:
Has anyone who trades on IB using a company been invited to transfer to the Australian IB yet? My individual account was invited about 4 weeks ago, but there has been no invite to my company yet.
Click to expand...

Company account got the invite, but nothing (no forms, no welcome letter etc) when I log into acct management
 
bellenuit said:
Has anyone had trouble trading options since your account was transferred. I tried tonight to sell a US covered call from my iPad using the very latest of TWS mobile, which I had downloaded just minutes before. I am overseas, so I only have access to the mobile app. It is the first time I traded since I was converted (an individual account), so I am not sure whether the problem is due to the conversion or is some bug in the latest TWS Mobile.

In any case, it was just selling one call option at $0.34 and when I selected slide to transmit order it came up with a message saying my order wasn’t accepted because my equity with loan value of $xx.xx was insufficient to cover some other value that was a bit bigger than $xx.xx. This doesn’t make sense as it is not a margin account, it has a considerable equity and cash balance, and the order was a sell order.
Click to expand...

This problem has now been resolved. IB said that they made changes to the credit payment system which now enables me to make these covered calls. I successfully wrote one last night.
 
Just got an email from IB about CFDs being available for Australians. This could be the start of allowing other leveraged products!
 
Indoril said:
Just got an email from IB about CFDs being available for Australians. This could be the start of allowing other leveraged products!
Click to expand...
Just got same - this could be great news - Do you think they will allow us to convert our current ASX top 20 holdings to CFD's? and reduce the amount of option trading we need to do?
 
freebird54 said:
Just got same - this could be great news - Do you think they will allow us to convert our current ASX top 20 holdings to CFD's? and reduce the amount of option trading we need to do?
Click to expand...

I have never traded CFDs and know close to zilch about them. However, the letter I received, and assuming I didn't misinterpret it, seemed to suggest that you can use CFDs like margin. IBA's CFD offering permits a similar degree of leverage as IB's international affiliates offer for margin trading. I have heard that CFDs are high risk products and although margin can be too you can control the risk of margin trading by leveraging well below your margin call limit. But can CFDs really replace margin and provide mitigated risk if used conservatively, or have I misunderstood what IBA wrote.
 
bellenuit said:
I have never traded CFDs and know close to zilch about them. However, the letter I received, and assuming I didn't misinterpret it, seemed to suggest that you can use CFDs like margin. IBA's CFD offering permits a similar degree of leverage as IB's international affiliates offer for margin trading. I have heard that CFDs are high risk products and although margin can be too you can control the risk of margin trading by leveraging well below your margin call limit. But can CFDs really replace margin and provide mitigated risk if used conservatively, or have I misunderstood what IBA wrote.
Click to expand...

My opinion is that if you manage your risk appropriately then CFDs are no different to any leveraged product.
 
Indoril said:
if you manage your risk appropriately then CFDs are no different to any leveraged product.
Click to expand...
Exactly.

IBA is asking for > 2 years experience trading CFD to activate this facility.
To trade CFD and futures you don't need margin loan . As long as you have enough cash available
to cover the initial and maintenance margin.
 
I received the Email too re CFDs, will this then allow us to make option trades on margin,
It'd be nice to be able to enter some option spreads.
 

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