Interactive Brokers

yonobarn · 11 July 2012

Hi all,

TWS working again today, agreed re comments on backing up TWS settings (File > Save Settings As etc). I store these on Dropbox, so I can access them from different computers.

However, there was something fishy about the connection issues with TWS yesterday. As stated in an earlier post, why could I connect from 2 advisor logins based in New Zealand (on a desktop, a laptop and an iphone), but not connect from any of these 3 devices for my Australian based login?

I will take this up with IB when I have more time.

Finally, should we IB account holders be taking any comfort from this?

http://www.zerohedge.com/news/first-mfglobal-now-pfg-who-next

alphaman · 11 July 2012

yonobarn said:
Finally, should we IB account holders be taking any comfort from this?

Not bad. I actually started searching from the bottom, glad that it took me a while.

dazers · 23 July 2012

Hi,

What are the observations people have made in comparing booktrader and ninjatrader with this broker?

CanOz · 23 July 2012

dazers said:
Hi,

What are the observations people have made in comparing booktrader and ninjatrader with this broker?

If you are asking what are the observations in comparing the DOM from IB (Booktrader) to NTs SuperDOM, then i would say that IBs is actually a better DOM visually as it also has a histogram. I use a third party DOM with NT, that shows a bit more detail.

Also I don't execute on the DOM itself, but use hot keys or occasionally limit orders, i cannot comment on how effective it is to click and trade from the either.

TH, did you use either DOM as the order entry, or hot keys?

Cheers,

CanOz

Trembling Hand · 23 July 2012

CanOz said:
TH, did you use either DOM as the order entry, or hot keys?

Have used both NT and IB.

IBs Booktrader is better. I used both hotkeys and DOM clicks.

Punta · 24 August 2012

Just had a couple of MKT orders for SPI fail.

A couple placed through the API sat there unfilled for a while. When I tried placing some with mouse clicks in TWS, I got a message along the lines of "change order to LMT and try again".

The help desk's first question was whether I was using mosaic (I was).

Bit of a worry. Will update on progress once they've looked into it.

tminus · 28 August 2012

Which of the reports from IB do you have to keep or send with your tax return.

thanks

Trembling Hand · 28 August 2012

tminus said:
Which of the reports from IB..................... send with your tax return.

thanks

None.

What goes in your tax return is either or possibly a combination of Capital Gain/Loss and/or Trading Profit or loss.

tech/a · 28 August 2012

Trembling Hand said:
None.

What goes in your tax return is either or possibly a combination of Capital Gain/Loss and/or Trading Profit or loss.

I just copy off all the trades
Bind them up and send them off to the accountant.

tminus · 28 August 2012

Trembling Hand said:
None.
What goes in your tax return is either or possibly a combination of Capital Gain/Loss and/or Trading Profit or loss.

But I assume you have to keep them if you get audited by the ATO

Trembling Hand · 28 August 2012

tminus said:
But I assume you have to keep them if you get audited by the ATO

Is that really a question?

bellenuit · 29 August 2012

tminus said:
Which of the reports from IB do you have to keep or send with your tax return.

thanks

I just keep a copy of the activity statement for the full tax year. That will show all your purchases and sales, which you can use to verify your trading or capital gains (some of the relevant purchases may be on preceding years' activity statements). It will also show dividends, but not imputation credits.

You can use the special Australian Dividend Report mentioned earlier if your are audited and want to verify your imputed credits, but similar information is available elsewhere (it won't be specific to you, but can be used to show your calculations were correctly done).

I record all my transactions on a spreadsheet as I find the IB activity statements not really in a format I like and use the spreadsheet for doing my tax return. I keep a copy of the IB activity statement for the complete tax year as an independent record in case I am audited and also as a cross check for my spreadsheet data.

tminus · 29 August 2012

bellenuit said:
I just keep a copy of the activity statement for the full tax year. That will show all your purchases and sales, which you can use to verify your trading or capital gains (some of the relevant purchases may be on preceding years' activity statements). It will also show dividends, but not imputation credits.

You can use the special Australian Dividend Report mentioned earlier if your are audited and want to verify your imputed credits, but similar information is available elsewhere (it won't be specific to you, but can be used to show your calculations were correctly done).

I record all my transactions on a spreadsheet as I find the IB activity statements not really in a format I like and use the spreadsheet for doing my tax return. I keep a copy of the IB activity statement for the complete tax year as an independent record in case I am audited and also as a cross check for my spreadsheet data.

Thanks, IB has an option to download data as an Excel file, but it's limited to monthly data.

Punta · 6 September 2012

Punta said:
Just had a couple of MKT orders for SPI fail.

A couple placed through the API sat there unfilled for a while. When I tried placing some with mouse clicks in TWS, I got a message along the lines of "change order to LMT and try again".

The help desk's first question was whether I was using mosaic (I was).

Bit of a worry. Will update on progress once they've looked into it.

Looks like MKT orders for SPI are working again.

They still haven't got back to me about why the failed in the first place. They were down for about 10-days.

Did anybody else have problems with this?

CanOz · 22 September 2012

I see IBIS (Interactive Brokers Information System) starts up with TWS now...my Briefing.com subby just finished so I'll try the free trial of the news bundle next month. If you start the trial at the first of the month you'll get the whole month...

Anyone using it already?

CanOz

bellenuit · 9 October 2012

I am looking at purchasing shares in a Listed Investment Company (LIC) for the very first time. In addition to franking credits, LICs also (may) have an additional distribution element called LIC Capital Gain. For reasons I won't go into, it is important to me to know my exact tax situation prior to tax year end. At the moment IB does not provide the franking credit information until after year end (per their special report for Australian tax payers), but this is not an issue for me as that information is readily available from many web sites immediately after the distribution is announced.

Not having invested in LICs previously, I am not sure how this additional tax element, LIC Capital Gain, is conveyed to LIC shareholders. Is it part of the dividend advice? In the case of investing through IB where for normal shares no dividend advice is issued other than the gross dividend being listed on the payment date's activity statement, for LIC shares is the LIC Capital Gain listed on the activity statement? If not, are there other sources where this component can be obtained at around the time of the distribution (rather than after the tax year end)?

boofis · 10 October 2012

Anyone able to explain this W-8BEN form in the application process of an individual account? The accountant did it for me last time but is on leave at present.

bellenuit · 10 October 2012

boofis said:
Anyone able to explain this W-8BEN form in the application process of an individual account? The accountant did it for me last time but is on leave at present.

I've been doing it for many years. This is the information I provide (as an individual, not as a company). For field 8, I just put in the account number with the broker who requested this form. I include the text "A/C Number:" before the actual number so they know what the Reference Number is referring to.

FIGJAM · 22 October 2012

g'day guys,

I have been trading for a little while with OptionsXpress and the only reason why I am looking for a change is because I want to buy some Blue Chip shares with the Aussie banks. Unfortunately OX doesn't allow trades out here.

Came across IB from this forum and it looks alright. Just want to hear some opinions.

I do weekly covered calls and like i said want to buy a few Blue Chips on a weekly/fortnightly basis, is IB worth signing up for it all?

OX is pretty lame with the reports that I can give to my accountant, does IB offer something half decent?

The other company I am looking at is Charles Schwab, anyone know anything about them?

https://www.schwab.com/

Cheers,
Mitch

FIGJAM · 22 October 2012

should have also mentioned that I am still a beginner to this.

Interactive Brokers

yonobarn

alphaman

dazers

CanOz

Home runs feel good, but base hits pay bills!

Trembling Hand

Can be found on the bid

Punta

tminus

Trembling Hand

Can be found on the bid

tech/a

No Ordinary Duck

tminus

Trembling Hand

Can be found on the bid

bellenuit

tminus

Punta

CanOz

Home runs feel good, but base hits pay bills!

bellenuit

boofis

bellenuit

FIGJAM

FIGJAM

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