Interactive Brokers

[CamKawa]

Can't login after the markets close. Think it shuts down about 7-8am Sat and reopens late Sun night. You'd have to check the exact times.

Logged into it again for the second time, no wucking furries. If TWS won't let you login because it's after hours it kicks up a message box after the login screen saying so. It doesn't just hang.

[cutz]

Thanks for the quick replies,

I will work through the suggestions.

[MS+Tradesim]

Logged into it again for the second time, no wucking furries. If TWS won't let you login because it's after hours it kicks up a message box after the login screen saying so. It doesn't just hang.

Alrighty.

[mb1]

Hey guys im in the middle of setting up an account with IB. If i select Reg T Margin does that mean it automatically uses margin when buying shares? What if I just want to buy US shares without margin?

Does the Reg T Margin account give you an option to use or not to use margin?

[cutz]

No luck,

Hopefully it sorts itself out by monday.

[mb1]

Cutz would you be able to answer my question in the previous post?

Also to fund my account can i just use my online cba account to transfer money across?

[CamKawa]

Hey guys im in the middle of setting up an account with IB. If i select Reg T Margin does that mean it automatically uses margin when buying shares? What if I just want to buy US shares without margin?

Does the Reg T Margin account give you an option to use or not to use margin?

Yeah, I just wanted to setup a cash account but it makes you setup a Reg T instead, so I gave into "corporate mind control" and just went with it. It's a bastard of an account to setup. Probably involves more questions than an ASIC speeding ticket, though that wouldn't be hard.

It doesn't automatically uses a margin when you buy shares if you have cash in your account. I *think* it only delves into the available margin finance when you run out of cash but I haven't got that far. I'd ask IB support the question but their support is crap. They are cheap though.

[-Bevo-]

Also to fund my account can i just use my online cba account to transfer money across?

Yes you can, funds usually show up in IB the next day.

[cutz]

Cutz would you be able to answer my question in the previous post?

Also to fund my account can i just use my online cba account to transfer money across?

sorry mb1

These computer probs are freaking me out,

I set up the IB account using Reg T Margin, not 100% sure on how it works but my plan is to cash up the account, then sell stock from a comsec account and simultaneously buy the same stock via IB, then I’ll short a way OTM put on a aussie bank stock making sure there is enough cash to cover the face value and see how the margining compares to my existing aussie account.

After I gave notification of funding I tried to do the transfer via payanyone online but in the reference field there isn’t enough room for user ID/account#/account name as was required so I went to my local branch and did a wire transfer, the cash appeared in my IB account the next day.

I asked the question here and there are guys that put only userID/account# in the reference field online, I might try that with a small amount next time.

[wanky]

how long does it take IB to activate an account? i applied and emailed my docs but my account has been sitting at "tentatively accepted" for a week. guess i should have waited for the account to be activated before i transferred my funds..

[wanky]

sorry mb1

These computer probs are freaking me out,

I set up the IB account using Reg T Margin, not 100% sure on how it works but my plan is to cash up the account, then sell stock from a comsec account and simultaneously buy the same stock via IB, then I’ll short a way OTM put on a aussie bank stock making sure there is enough cash to cover the face value and see how the margining compares to my existing aussie account.

After I gave notification of funding I tried to do the transfer via payanyone online but in the reference field there isn’t enough room for user ID/account#/account name as was required so I went to my local branch and did a wire transfer, the cash appeared in my IB account the next day.

I asked the question here and there are guys that put only userID/account# in the reference field online, I might try that with a small amount next time.

i used pay anyone through comsec, ref field i put account# - userid. IB had it as funds received the next day

[cutz]

Logged into it again for the second time, no wucking furries. If TWS won't let you login because it's after hours it kicks up a message box after the login screen saying so. It doesn't just hang.

I can relax,

The login box now says login not possible all day sat & sun before 12pm, which i assume must be NY time currently 12:25am

[cutz]

how long does it take IB to activate an account? i applied and emailed my docs but my account has been sitting at "tentatively accepted" for a week. guess i should have waited for the account to be activated before i transferred my funds..

Mine took about 8 days,

Thanks for the banking info.

[tech/a]

You wont get activated without funds.
So youd have been still waiting.

[cutz]

You guys that trade the US options and stock market, is the US Securities and Commodities Non-Pro Level 1 Subsciption all thats required?

[cutz]

You can set your "base" currency as AUD. When you buy other currency dominated shares, you have the option to either convert your base currency to another foreign currency to purchase it, or borrow foreign currency to purchase it. I believe the latter is default.

Correct me if I'm wrong though.

Could someone please confirm if this is correct, i.e if I’m to purchase US stocks even though there’s enough $AUD in the account to cover the purchase, funds are automatically borrowed.

This sounds like an attractive proposition as having my hard earned aussie dollars exposed is a big concern.

[newmans]

I'm looking at opening an IB account solely in my wifes name. My wife does not work. During the application process it states that income must be more than $40000 US. Do IB request any proof of income to open the account? Do they check the employment details you provide?

[So_Cynical]

I'm looking at opening an IB account solely in my wifes name. My wife does not work. During the application process it states that income must be more than $40000 US. Do IB request any proof of income to open the account? Do they check the employment details you provide?

OK so i wont be opening a IB account.

[CamKawa]

Do IB request any proof of income to open the account? Do they check the employment details you provide?

No.

[Rick_Hunter]

Hi guys,

First post on these forums. First of all, been reading/poking around the forums for a few months now and I have to say, I have learnt a great deal from the members here (in fact, a lot more than your usual financial magz/papers/etc.). So a big thanks

Hopefully, this hasnt been answered before (tried a quick search before). Basically, I'm looking to open trading/invest accounts with different brokers atm. I've seen a lot of recommendations on IB due to their much cheaper rates for trades ($6 vs $20 on aussie shares i think). However, realising the current environment & the collapse of multiple investment banks in the U.S. Would I be taking on too much risk using an IB account, as opposed to say Macquarie or CommSec, simply because they are backed by the Aussie government?

Do people split up their risk by having multiple brokers (e.g. 1/3 funds in IB, 1/3 in maq, 1/3 in commsec), so if any of them do suddenly go down, you would not lose your entire capital?

And one last question. With say MAQ CFD's, due to the fact that the trades only cost $10 + interest, I'm thinking of using this as opposed to normal trades ($20) for short term (say holding less than 1 month). I will have the funds to back it up if margin calls occur (so if I put down a 5k position, will use like $500, the rest of funds sitting in MAQ's savings acc). This will probably cut down my trades to $12-15 per trade instead of $20. Would this be a good idea?

Thanks in advance for the help.