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Interactive Brokers

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Hi,

Does anyone know if you have a non-base currency and your net liquidation in your base currency is positive, but your cash negative are you able to close out the positive portion to your base currency?

Example:

Non-Base Currency US
Cash : -5000
Securities: 10000
NLV : 5000

Could I transfer $5000US to AUD which is my base currency? or does cash have to be positive? Obviously my Cash would then be -10000.

Thanks
 

It should be OK so long as you meet margin requirements, which is calculated across all your assets in every currency.
 
Morning All

Anyone having issues this morning getting connected to IB?

Keep getting server error message, keeps attempting to connect but with no luck. Check the system status for IB and doesn't seem to be any problems??

If someone could let me know if they have had success logging on today that would be great.

Cheers
 

I can log in fine and access everything as normal.
 
bellenuit said:
It should be OK so long as you meet margin requirements, which is calculated across all your assets in every currency.
Click to expand...

Thanks Bellenuit - I am also going to drop IB live chat a quick line to confirm I think you should be able to do it....
 
Does anyone use TWS to report trading performance and if so how do you do this? The reports that are existing are the most useless collection of crap I've ever seen to analyze trading performance, bar none!

MultiCharts does not seem to have a good reporting feature, unlike NinjaTrader which had a nice reporting module that had all the typical things a trader would look for. Similar to any back test report.

I'm just doing my trading performance from my first week of live trading and i'm using Excel at the moment, but i will need something that collects, slices and dices the data much better than what i can find at the moment. So i need something for TWS or MultiCharts.

Cheers,



CanOz
 
I have a IB account which i trade asx share in . I was just wondering does IB charge Custody fee to hold US shares such as Berkshire hathway in IB account over the long term . As I have never brought US shares throught IB before .Thanks in advance if anyone can help in this area
 

All their cost are listed on their website,

http://individuals.interactivebrokers.com/en/pagemap/pagemap_fees.php

As long as you cover minimum monthly activity and have not purchased on margin there seems to be no extra charge. why do you think they would?
 

Unless shares like Berkshire Hathway are for some reason different to other US shares, then the answer is no. I hold shares in Apple as well as some other US companies and apart from margin interest if applicable and the minimum monthly transaction fee of USD10.00 mentioned by the previous poster, which is reduced or eliminated by any commissions paid on actual trades within the month, there are no holding costs
 
matty205 said:
I don't trade alot of shares throught IB So it look like you neeed minimum monthly activity of 10 dollars US or they will charge you 10 dollars anyways is that the case or have i miss read it
Click to expand...

Its $10 USD value of any commissions over any exchange. Does not have to be just US exchanges. If you have an IB account and have not been charged this yet then your trading enough not to have to be charged.
 
matty205 said:
I don't trade alot of shares throught IB So it look like you neeed minimum monthly activity of 10 dollars US or they will charge you 10 dollars anyways is that the case or have i miss read it
Click to expand...

I think the minimum is not applied for the first 3 months. After that, if the total commissions you pay on trades for the month is less than USD10, you will pay the balance at the end of the month as a separate fee.

Assuming AUD/USD parity to make calculations simple, if you have 1 Australian trade with AUD6 in commissions and two US trades each of 1USD commission, then you will be charged an additional 2USD at the end of the month to make the minimum fee. If you have no trades at all, your end of month fee will be USD10. If your commissions are over USD10, then there will be no end of month fee.

The end of month fee will be charged to you in your base currency, but is first calculated in USD.
 
Haven't seen much grumbling about the new look "mosaic" tws. What do people think?

I hate to be a luddite, but I don't like it. It seems too busy and unintuitive. I don't actually use the GUI features, but I don't have the balls to go to the Gateway yet, and the new look tws seems awful.

Move with the times I guess.
 
Just a quick question to the guys who have been using IB for sometime. What is the capital gains tax situation on USD capital gains for Australian residents. Does IB deduct some tax or we have to deduct in our assessment here is Australia.
 
Lately had a conversion with IB about the double commission fee for partially filled order, and was told the following policy:

the order was held overnight and partially filled, it was considered a new order as the new day begin, therefore the commission is charged again for the new order.

in my opinion, this policy does not sound reasonable because the partially filled order still has the same ticket number in the exchange, and I think Commsec does not charge twice for partially filled order.

what you think, guys?
 
hawamahal said:
Just a quick question to the guys who have been using IB for sometime. What is the capital gains tax situation on USD capital gains for Australian residents. Does IB deduct some tax or we have to deduct in our assessment here is Australia.
Click to expand...

IB does not deduct capital gains tax on US trades as it has no way of knowing what your tax situation is. For instance, you may have carry forward losses that you can deduct, or if you have multiple lots of the same stock, which one you are actually selling (which has implications on whether you are entitled to the 50% discount or not). It is up to you to work out your capital gains and include in your tax return.

IB does ask if you work on a FIFO or LIFO basis for which shares you sell, but that is for some of its reports on profitability etc. I simply ignore those, as for every sell of multiple lot stocks I hold, I decide which I am selling and do not confine myself to a fixed LIFO or FIFO process. The ATO allows you to decide which lots are being sold.
 
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