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Interactive Brokers

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zac said:
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.
Click to expand...

It's allowing for shorting and leveraging on personal accounts using CFDs which is about bloody time!
You have to log on and configure your account. It will then take a few days pending approval if you have enough trader experience in your personal info setup.
 
I'm actually taking personal responsibility for these welcome upgrades to IB as I had started to rip the **** out of them on behalf of Aussies. The changes came thick and fast after that!!!
 
Does that means margin on options isnt here yet?
You have to have enough cash to cover should you be exercised??
Thats whats annoying currently
 
I’m trading futures no problems
I have to cover with enough to trade the number of contracts I want to trade with tge DAX it’s around $10 k a contract
 
Tried to edit the permissions on my now Cash account (was margin years ago until IB changed it).

I could not get the required CFD permissions to appear even with the help of the Support.

Has anyone managed to get it to work ?
 
It appears to be DMA, low commission and the interest rate is about 1.5% pa for Europe or 3.5% for ASX. The margin can be included in your overall margin to mix in with securities, options and futures.
 
Does anyone here trade US stocks? I'm with Interactive Brokers and wondering how I can access Level 2 data.

Also do you think it should be alright to day trade American stocks? I'm worried that Australian Internet may delay my data by a few seconds (or milliseconds)? Or am I just being paranoid?
 

Unfortunately data is a chargeable add-on when with IB. It is quite complex as there are several different data modules you can buy, some overlap each other in what they provide. I have real time (but not level 2) data for stocks and options (I think it may also include indexes) and that costs me about AUD 18.50 per month (including GST). The prices shown on the IB website are in USD and will be converted to AUD at month end with GST then added. Before I used balk at paying that amount of money for data, preferring to use as much free stuff as I could get (yahoo and google), but since subscribing, I now love having it directly on my order entry window. I do enough trades to justify the cost, but not sufficient enough trades to be able to get data at reduced rates or for free, a feature available on some data packs.

I have never had problems with response times as orders I have placed that are immediately executable seem to get executed as soon as entered (when it beeps). But whether there is a millisecond delay involved or not I cannot tell.

I should add that the price I am being charged for data is for an "individual" account. It is a lot more expensive for corporate accounts.
 
bellenuit said:
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.
Click to expand...

anyone heard anything about when they are going to be migrating company/trust accounts?

it's mid nov now and nothing is coming up in account management. getting a bit worrying. the earlier notice said that any accounts not migrated by the end of nov will have their positions shut down and the proceeds returned to the client. i would hope that commonsense prevails and if they're not ready yet to migrate company/trust accounts, then they'd let us stay on IB LLC past that date rather than shutting down positions and returning our funds, but best to make sure.

hoping to get a day off next week so i can log in to the support chat from home during HK hours and ask them a few questions, but may not be able to as it's a busy time at work. would anyone happen to have made an enquiry about this in the last few days?
 
I had a look at the CFD PDS, seems like these contracts could be a better alternative to local bank margin loans, ie. cheap finance / access to dividends / spreads same as underlying / solid counter-party with nil exposure to risky mortgages.

Agree / Disagree ??
 

The interest rates are a lot lower but it is on the whole of the position, where a margin loan interest is only charged on the amount borrowed.
 
brisman said:
The interest rates are a lot lower but it is on the whole of the position, where a margin loan interest is only charged on the amount borrowed.
Click to expand...

Cool,

At 70% LVR could still be cheaper, I will do the math later.

I take it the CFD interest is tax deductible, just like a margin loan ?
 
I am trying to put an order in for a CFD and I am getting this error:



Yet under trading permissions I have this:



Any idea why I can't trade CFD's if I have already been approved?
 
cutz said:
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.
Click to expand...

It's been two working days and a weekend to the same account and still nothing. This sucks. Expected it Saturday morning. #brokeweekendlyf

I am suspecting this is a ANZ thing. Whatever new banking infrastructure is in place is slower to ANZ. My CBA account seemed to receive it faster.

 
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