Interactive Brokers

Tanaka · 19 April 2011

CamKawa said:
That's a good thing, though it only covers 27 stocks so I'm not doing too many star jumps.

LOL I guess I got too excited when I read "...the most liquid stocks..." . I guess IB have done their research and decided there are only 27 candidates on the ASX.

skc · 19 April 2011

Tanaka said:
LOL I guess I got too excited when I read "...the most liquid stocks..." . I guess IB have done their research and decided there are only 27 candidates on the ASX.

It's a start. At the end of the day it's a business decision for IB. So if we all go use them to short the market and they see the volume/demand for this service they will expand it....

Perryt · 19 April 2011

skc said:
It's a start. At the end of the day it's a business decision for IB. So if we all go use them to short the market and they see the volume/demand for this service they will expand it....

Hi guys,

Its the soft launch for shorting of Australian stocks, due to franking issues. Once we have that resolved, you will be able to short more stocks.

Please short away, if you have any feedback, i'd be happy to pass it on,

Cheers
Perry
IB Sales Rep

IFocus · 19 April 2011

Perryt said:
Hi guys,

Its the soft launch for shorting of Australian stocks, due to franking issues. Once we have that resolved, you will be able to short more stocks.

Please short away, if you have any feedback, i'd be happy to pass it on,

Cheers
Perry
IB Sales Rep

Thanks Perry for the good news

sails · 21 April 2011

Perryt - do you know if IB will drop commissions to 30c per option contract now that the ASX is dropping option contract size from 1,000 to 100? Seems it is to be phased in during May and that's only about a week away.

Here's a link to the ASX info page on this issue: http://www.asx.com.au/resources/why-small-packages-are-best.htm

Perryt · 26 April 2011

sails said:
Perryt - do you know if IB will drop commissions to 30c per option contract now that the ASX is dropping option contract size from 1,000 to 100? Seems it is to be phased in during May and that's only about a week away.

Here's a link to the ASX info page on this issue: http://www.asx.com.au/resources/why-small-packages-are-best.htm

Hi sails,

I know management is looking into it, i'll get back to you, once their close to a final decision.

Cheers

Perry
IB Sales Rep

sails · 27 April 2011

Perryt said:
Hi sails,

I know management is looking into it, i'll get back to you, once their close to a final decision.

Cheers

Perry
IB Sales Rep

Thanks Perry - look forward to your reply...

ivanyo · 29 April 2011

Just a quick question if any IB Reps can answer me here.

What exactly do I have to scan + upload for the 'Certified' Sections of Proof of Identity/Address?

I've already scanned and uploaded a proof of identity and address - just not sure what additional documents I need to scan for the "certified" section.

Tanaka · 29 April 2011

ivanyo said:
Just a quick question if any IB Reps can answer me here.

What exactly do I have to scan + upload for the 'Certified' Sections of Proof of Identity/Address?

I've already scanned and uploaded a proof of identity and address - just not sure what additional documents I need to scan for the "certified" section.

You can chat to a sales rep immediately via their chat feature: http://www.interactivebrokers.com/en/p.php?f=customerService

ivanyo · 29 April 2011

Tanaka said:
You can chat to a sales rep immediately via their chat feature: http://www.interactivebrokers.com/en/p.php?f=customerService

Not sure if I'm incompetent or it just doesn't work because my account is not fully set up yet.

I might give them a call tomorrow.

tothemax6 · 29 April 2011

Hi,
Can an IB user answer me a couple of questions?
First, what sort of minimum trade sizes does IB use? For instance, if I wanted to buy the nikkei225 index, what would be the minimum trade?
Also, are there any commodity minis, since buying a whole commodity contract is huge. If so, what is the minimum trade for say, sugar?

Cheers!

tothemax6 · 1 May 2011

tech/a · 1 May 2011

tothemax6 said:
Hi,
Can an IB user answer me a couple of questions?
First, what sort of minimum trade sizes does IB use? For instance, if I wanted to buy the nikkei225 index, what would be the minimum trade?
Also, are there any commodity minis, since buying a whole commodity contract is huge. If so, what is the minimum trade for say, sugar?

Cheers!

Depends in your margin.
Not sure of the margin for the Nikkei.
But the SPI is around $5000/contract.
So for 10 contracts need a $50K margin.
There is a list somewhere of all margin requirements on IB
Do a search

nulla nulla · 1 May 2011

tech/a said:
One market and learn how to trade.
The rest will still be there if you survive.

All credit to you tech/a, this is probably the best response I have seen in over 2 years.
1. Try one (1) market first;
2. Learn how to trade it; and
3. The rest will still be there for you to expand if you survived 1 & 2.

Perryt · 3 May 2011

tech/a said:
Depends in your margin.
Not sure of the margin for the Nikkei.
But the SPI is around $5000/contract.
So for 10 contracts need a $50K margin.
There is a list somewhere of all margin requirements on IB
Do a search

Hi Guys,

Check out this link for the margin requirements.
http://www.interactivebrokers.com/en/p.php?f=margin

Cheers
Perry
IB Sales Rep

Perryt · 3 May 2011

ivanyo said:
Just a quick question if any IB Reps can answer me here.

What exactly do I have to scan + upload for the 'Certified' Sections of Proof of Identity/Address?

I've already scanned and uploaded a proof of identity and address - just not sure what additional documents I need to scan for the "certified" section.

Hey Ivan,

You will need a certified copy of your documents, signed by a JP/professional and attached with their business card. For further information, please call the helpdesk on 612 8093 7300.

Cheers
Perry
IB Sales Rep

Perryt · 3 May 2011

sails said:
Perryt - do you know if IB will drop commissions to 30c per option contract now that the ASX is dropping option contract size from 1,000 to 100? Seems it is to be phased in during May and that's only about a week away.

Here's a link to the ASX info page on this issue: http://www.asx.com.au/resources/why-small-packages-are-best.htm

Hi Sails,

Commission has been amended, as per multiplier.
http://www.interactivebrokers.com/en/p.php?f=commission > options > asia pacific > australia
Stock Options (multiplier = 100)
AUD 0.30 per contract commission
AUD 2.00 minimum

Cheers
Perry
IB Sales Rep

burglar · 3 May 2011

Hi Perryt,

I have heard that I need a AUD$10k account to start with IB.
Is it true?
Would that be cash?
Or can it be shares by inter-broker transfer?

burglar

Perryt · 4 May 2011

burglar said:
Hi Perryt,

I have heard that I need a AUD$10k account to start with IB.
Is it true?
Would that be cash?
Or can it be shares by inter-broker transfer?

burglar

Hi Burglar,

Initial deposit needs to be $10,000 USD. You can fund it with cash or shares.

Cheers
Perry
IB Sales Rep

sails · 4 May 2011

Perryt said:
Hi Sails,

Commission has been amended, as per multiplier.
http://www.interactivebrokers.com/en/p.php?f=commission > options > asia pacific > australia
Stock Options (multiplier = 100)
AUD 0.30 per contract commission
AUD 2.00 minimum

Cheers
Perry
IB Sales Rep

Hi Perry,

Thanks for the confirmation on contract commissions...

As IB has never had a minimum before for Aussie options, could you explain how it works?

For example, if I put in an order for 50 BHP options (now with 100 shares per contract - would have been an order of 5 previously) and say only 15 are taken. I now have 35 left and need to adjust the price due to market movement. Does this mean a new order with IB and another $2 minimum?

Or is there just one $2 minimum per order even if order price is adjusted on unfilled quantity?

If the unfilled quantity is cancelled and re-ordered, is that definitely a new $2 minimum? This would also be the case at the end of the day as I understand that all option orders are purged from the system - can you confirm?

And I can't find it anywhere, but are index options such as the XJO remaining the same with the $10 multiplier?

As brokers can vary in brokerage policies, any information you can give on the above questions would be much appreciated.

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