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Interactive Brokers - experiences and opinions

  • #841
  • Jan 21, 2017 4:58am Jan 21, 2017 4:58am
Quoting Calculus
AUD, The order entry software Button Trader will sort ALL your problems out. It takes a bit of time to understand how it all works but once that's done entering or changing any type of order is really slick. For your needs it would be easy to set some hot keys to enter and then work and offer and stop etc. Because it uses a visual price ladder moving or changing any order is just one click.

Thanks, Calculus. I didn't know IB frontends like this existed. Are there other ones?

I'm also looking into accessing Currenex through a broker but I'm not familiar with any of them..
  • #842
  • Jan 21, 2017 11:32pm Jan 21, 2017 11:32pm
Calculus, is the Button Trader a 3rd party software?
  • #843
  • Jan 22, 2017 3:44am Jan 22, 2017 3:44am
Yes, it's 3rd party. I forget the cost but it's something like a Euro a day. Check on their website.

Take the trial, work with their canned data to see how it all works. Like I said, it's slick, one key can enter say a market buy with a 9 tick stop and an x tick limit. And to change a level just click the price on the price ladder. My needs are not that complicated, I like to enter using stop limits with a tight stop but I'm always changing my offer and maybe my stop depending on the price action. I also like to quickly get out if need be. If you like lots of different orders combine it with the Logitech G13 keypad, that's excellent as well.

As for other front ends, yes, check on IB's website. Bracket Trader is one of them.
Road To Wisdom? To err and err and err again, but less and less and less...
  • #844
  • Jan 22, 2017 6:06am Jan 22, 2017 6:06am
Quoting narafa
Thanks a lot malagiri for the valuable information...This is really something which I would have never known unless I actually traded with both brokers Thanks, Nader
I agree with your opinion . please read this forum for your up-gradation and earn more money. thanks
  • #845
  • Feb 10, 2017 5:06pm Feb 10, 2017 5:06pm
Any Non Resident Indian's (NRIs) or Resident Indian's trading forex with IB India?
  • #846
  • Oct 6, 2017 6:16am Oct 6, 2017 6:16am
Quoting KADC
{quote} Interactive Broker {image}
Hi, KADC. I’ve been reading many of your posts from 2014 and on since I’m on a search myself to find the answer to a question regarding IB. Probably a rather simple question for someone as knowledgeable as you
I opened a paper account with Interactive Broker since I live in Europe and was not able to find any other brokers that could pair up with them for trading US Stocks. Maybe you know or heard of any? & during the first 4 days of trading, I noticed under the “Activity Statement”—> “interest tab” “interest accruals” that some interest in excess of $300 had accumulated just in the first 4 days.
I’ve been trading low cap stocks exclusively, never using a leverage more than 1 to 1 and made 7,76% in this period split up across 6 or 7 trades. I’m perhaps misinterpreting what’s being shown to me, also my searches online to yield an explanation were not very satisfactory but they did bring me to you. So I just wanted to hear the opinion of a knowledgeable and experienced individual as to what this amount represents. I'm including a screenshot for reference. Thank you very much in advance!
Best,
framboise
Attached Image (click to enlarge)
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  • #847
  • Dec 7, 2017 11:31am Dec 7, 2017 11:31am
Hi,
I am using Interactive Brokers Stock Yield Enhancement Program to lend my shares.Here is the FAQ : https://ibkr.info/node/1838
I am wondering what happens if there is a BIG short squeeze (>400%) on one of my stocks and the borrower can not return my shares.
Will I only have the cash collateral (so I will lose the 400% increase and won't be able to buy back the same amount of shares with the cash), or is the broker forced to buy my shares in order to return them to me ?

I think the cash collateral only exist if the broker (Interactive Brokers) goes bankrupt.
If true, then IA will be forced to return my shares at the end of the day whatever the price, even if the borrower was not able to buy back them.

Can someone confirm what is true?

Thank you
  • #848
  • Jan 20, 2018 11:09am Jan 20, 2018 11:09am
I was looking at their spreads yesterday, not the best "EURUSD 8 pips!!" if im not mistaken and they have a commission added as well, im currently with ICMarkets but im still trying them and want to see if they have a good system, non freezing, and no games "such as any trader would generally suspect"

I can say that compared to interactive brokers they have 1/8 of the spread on EURUSD "commission included" so this can give you a hint on how the style of trading you are using will go in the future
  • #849
  • Jan 23, 2018 9:13pm Jan 23, 2018 9:13pm
ChrisSteve, I think you're mistaken. Here's a screenshot of a few of their spreads. Eur/USD is <1pip, in fact in most cases it's <.5pips bid/ask. In the screenshot i grabbed it was 1/10 of a pip, so honestly I think you'd be hard-pressed to find a better broker if you plan on trading SIZE. For a beginner, i prefer Oanda, but if you've got serious dollars they are a well regulated, well capitalized professional operation.

Attached Image (click to enlarge)
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  • #850
  • Feb 5, 2018 9:37am Feb 5, 2018 9:37am
UK’s financial services regulator, the Financial Conduct Authority (FCA), has fined the UK branch of the US brokerage Interactive Brokers (IBUK) GBP 1,049,412.

The reason for the punishment are failings in IBUK’s post-trade systems and controls for identifying and reporting suspicious transactions in the period February 2014 to February 2015.

The FCA found that IBUK has failed to adequately calibrate and test the post-trade monitoring systems to ensure potential market fraud by clients would be captured. Besides, IBUK did not provide oversight and quality control of the activities of the US team, did not monitor their reports and did not provide adequate training for the employees conducting the post-trade monitoring.

Consequently, IBUK failed to report to the FCA suspicious trading activity and the watchdog has established there were at least three occasions of market abuse in the relevant period.
  • #851
  • Feb 12, 2018 4:10pm Feb 12, 2018 4:10pm
Tried IB platform , so far not so good. First I downloaded FX paper trade platform and it turned out it was a stock trading platform without any chance to get currency quotes. After around 10 minutes I heard "trading connection lost " , platform got disconnected.
  • #852
  • Feb 13, 2018 8:26am Feb 13, 2018 8:26am
Hi Guys,


I am moving to Canada in few months. I am intended to close my current trading accounts with fxcm UK and AvaTrade. I would like to know if anyone can tell me which forex broker to opt for while in Canada. thanks in advance.
  • #853
  • Feb 22, 2018 12:35pm Feb 22, 2018 12:35pm
Quoting InfinitySL
ChrisSteve, I think you're mistaken. Here's a screenshot of a few of their spreads. Eur/USD is <1pip, in fact in most cases it's <.5pips bid/ask. In the screenshot i grabbed it was 1/10 of a pip, so honestly I think you'd be hard-pressed to find a better broker if you plan on trading SIZE. For a beginner, i prefer Oanda, but if you've got serious dollars they are a well regulated, well capitalized professional operation. {image}
That clears things up, i must have read it wrong then, it could had been 0.8 pip and i saw 8

Thanks InfinitySL
  • #854
  • Feb 17, 2020 6:09pm Feb 17, 2020 6:09pm
Considering moving from Oanda, searched for this but couldn't find it;
does IB have swap calculator like Oanda?
https://www.oanda.com/embed/show/interest_calc/1/?

For instance, how much does IB pay(or charge) for holding NZD/CHF 1lot for 24 hours?

Please, if you know, lmk.
market is a device for transferring money from the impatient to the patient
  • #855
  • Feb 19, 2020 3:58am Feb 19, 2020 3:58am
https://www.interactivebrokers.com/en/index.php?f=1595
  • #856
  • Feb 19, 2020 9:41am Feb 19, 2020 9:41am
Quoting Trader915
https://www.interactivebrokers.com/en/index.php?f=1595
Thanks but it's still very unclear.
market is a device for transferring money from the impatient to the patient
  • #857
  • Feb 20, 2020 12:42am Feb 20, 2020 12:42am
Quoting bs4
Considering moving from Oanda, searched for this but couldn't find it; does IB have swap calculator like Oanda? https://www.oanda.com/embed/show/interest_calc/1/? For instance, how much does IB pay(or charge) for holding NZD/CHF 1lot for 24 hours? Please, if you know, lmk.

Hey bs4 I hope you realize that the Oanda interest rate calculator you are looking at is inaccurate! Maybe you do and you are just putting it up for an example. I think that is the old rates. I really really really wish those rates were accurate...

Here is a more accurate link if you need it. Scroll down and you will find pricing. Remember if you are looking at currencies today Wednesday they charge triple for the weekend. Tomorrow will be back to single charging..... The new rates are basically the same as taking a baseball bat to my head...

https://www.oanda.com/rw-en/trading/financing-fees/
  • #858
  • Feb 20, 2020 10:29am Feb 20, 2020 10:29am
Quoting MagnumPI
{quote} Hey bs4 I hope you realize that the Oanda interest rate calculator you are looking at is inaccurate! Maybe you do and you are just putting it up for an example. I think that is the old rates. I really really really wish those rates were accurate... Here is a more accurate link if you need it. Scroll down and you will find pricing. Remember if you are looking at currencies today Wednesday they charge triple for the weekend. Tomorrow will be back to single charging..... The new rates are basically the same as taking a baseball bat to my head......
I'm aware that it's estimate only and i'm also aware of the new swap policy, thanks.
I only try positive swap pairs so it matters less to me than those ppl who trade negative swap pairs.
anyways, I wanted to know ibkr's policy in terms of real dollar figure but i guess nobody knows it.
market is a device for transferring money from the impatient to the patient
  • #859
  • Feb 20, 2020 10:33pm Feb 20, 2020 10:33pm
Quoting bs4
{quote} I'm aware that it's estimate only and i'm also aware of the new swap policy, thanks. I only try positive swap pairs so it matters less to me than those ppl who trade negative swap pairs. anyways, I wanted to know ibkr's policy in terms of real dollar figure but i guess nobody knows it.

This is what I am trying to explain to you and more importantly to anyone who happens to be reading this thread so they do not get false info. That calculator is an estimate of the old way interest was charged so it is completely useless now. Not only useless but actually harmful. I will give you an example.

Lets say you are long the US Wall St 30............ Lets say you are long 40 units for 24 hours. With the link you provided it says you would pay $36.98

However in reality you have to pay $133.20

The difference is almost $100 more or almost 4 x the estimate.

In my books that is not an estimate. It is a blatant lie.

Anyone please feel free to comment or correct me if I am wrong....

Mag...
  • #860
  • Mar 5, 2020 3:04am Mar 5, 2020 3:04am
Anyone else experiencing server/connection issues with TWS/mobile/web/ account login on website etc atm ?
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