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Interactive Brokers

Discussion in 'Brokers' started by MrMarcus, May 6, 2008.

  1. cutz

    cutz

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    Anyone having problems with ASX data ( not showing ) ?
     
  2. blue0810

    blue0810

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    Yes.. you can trade using the depth
     
  3. cutz

    cutz

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    OK, thanks mate.
     
  4. alphaman

    alphaman

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    I'm getting "We are unable to computer value for this contract" on options order.
     
  5. ghostdunks

    ghostdunks

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    I have a corporate trustee account and I don't have the 25k limit. It sounds like you've qualified for a normal retail margin account(hence the limit). If you want to remove the limit, then you'll have to qualify for either a wholesale(easier) or professional(much harder) account. I qualified for wholesale account by getting my accountant to sign a form saying I had 250k+ income and submitted it, and then got approved.
     
  6. hawamahal

    hawamahal

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    I have not heard anything on my application which I did on the first day that email was sent. I can't see anything on my accoutn yet.

    Has anyone got an email or otherwise margin available on their account.
     
  7. bellenuit

    bellenuit

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    I have received no follow up regarding my family trust application. As the application process didn't require additional information, I assume I now have margin as that is what it says when I look at the account status (I can't remember the words, something like "leveraged trading", whereas before it was something like "cash trading"). I can't see the $25K limit specified anywhere, so I may have to do a margin trade to find out the limits.

    For my individual account I opted to have my financial status checked by Equifax rather than get a letter from my financial advisor as I don't have one. A few days later I did receive an email from IB with a link to the Equifax process, but as I detailed in a message above, to check my financial status they were requesting I give them my login information and password to all my bank accounts. I regarded this as completely unacceptable and I didn't proceed beyond that point. It is possible that after checking the bank information, they might also have requested additional intrusive information regarding other aspects of my financial position. I don't know as I didn't proceed.
     
  8. alphaman

    alphaman

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    Did IB approve it anyway? It would show up in your accounting setting accounting type.
     
  9. bellenuit

    bellenuit

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    As I said I didn't proceed. I also didn't let them know I was not proceeding, I just exited the Equifax web page. So it is quite possible they are still awaiting my results from Equifax, which obviously will not come. My latest activity report has my account listed as CASH ACCOUNT.
     
  10. Sharkman

    Sharkman

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    does anyone happen to have any insights in the underlying mechanics behind IB's combo orders?

    i was trying to sell XJO call verticals today. whilst i had a limit order for a 106 point credit active on the market, i saw someone else's trade on the lower strike get filled at 167 points. at almost the same time (as fast as i could tab to the other window and hit refresh), the spread on the upper strike was 50/61. would've thought i'd get a fill at that point, but it didn't happen.
     
  11. hawamahal

    hawamahal

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    That is totally unacceptable. I also got an email yesterday to update my phone number as they require a mobile number.
     
  12. waterbottle

    waterbottle

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    Has anyone been able to trade Forex with IBAU? There website says that they allowed trading amongst 4 currencies only but I can't find the trading permission
     
  13. bellenuit

    bellenuit

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    I think they only allow you to trade sufficient to cover a position in a foreign currency. For example, if have 100 USD in my USD account and I buy US shares to the value of USD 10,000.00, they will allow me to sell AUD up to the value of USD 9,900 (less forex commission) after I make the stock purchase trade. It doesn't allow me to go positive in USD as far as I remember. However, if I then sell say the US shares for net proceeds of USD 11,000.00, I am not forced to exchange that back to AUD. I can keep the positive USD balance.
     
  14. brisman

    brisman

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    It’s easier just to use theIr forex CFDs.
     
  15. cutz

    cutz

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    Hi, I do combos frequently, which screen were you looking at ?

    With XJO's, prior to hitting the sell order you'll see an indicative spread price ( in purple ). As soon as your order hits the market the MM's will show a combo quote often pretty tight, it sounds like the 167 was a retail order on the buy side which got taken out above the mid.

    A proper indication of combo price is midpoint of the MM leg quotes, ( exclude stray retail orders in between )

    Sorry hope it makes sense, not 100 percent sure what you observed.
     
  16. Sharkman

    Sharkman

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    i was looking at the web page of my CHESS broker - i don't look at the prices on the IB platform as i'm a cheapskate, i don't pay for live IB market data, i get that for free as i have a CHESS account where the long term investment component of my portfolio is kept. so i'll have TWS up on one screen and the CHESS broker's website up on the other.

    it's possible that the 167 was a retail order, it's a bit hard to distinguish these days as the MMs seem hesitant to show a lot of volume, i was looking at ANZ options yesterday and most of them were only showing 25 contract spreads.

    i was thinking that the combo algo might have tried to get the low strike filled at 167 once it detected that another fill was done at that price, then instantly hit the offer on the high strike to get the spread done at 106 points.

    though in hindsight i guess it's also possible that if it was an MM who filled at 167, they might have decided they didn't want to take on any more deltas at that price, and the algo could not get the fill at 167 after all.
     
  17. cutz

    cutz

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    Hi Again.

    Combo quotes the MM's post are invisible to "Chess" brokers ( Aussie big 4 ?), I can sort of understand what you're describing ie, one let get hit then the other leg simultaneously get hit .. Doesn't quite work that way. I can best describe as being their own seperate series, makes more sense when you see it live on TWS, maybe check it out with a months data. :)

    BTW call verticals are pretty juicy at the moment, getting hit hard with falling vols.
     
  18. bellenuit

    bellenuit

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    What do you do for US shares and options, assuming you trade these? I used to my trading under my personal account with IB and paid for live market data which cost me just over AUD 20 a month. I've now moved all my trading to a Family Trust account with them and closed the personal account. However, a FT is treated as a professional and the fees are about $200+ per month. Far too much for the volume I do. I can get the realtime Share data from Yahoo, but I can't seem to find a reasonably priced source for the Options data.
     
  19. waterbottle

    waterbottle

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    Are you able to trade Forex futures contracts? If so, how does that with the limited margin they provide?
     
  20. cutz

    cutz

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    I don't trade fx but just checked fx futures are available.

    With regards to margin I think you're referring to limited 'margin loans", not related to margin.
     
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