Interactive Brokers - SGD now available for funding

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Yxy

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I've had IB fill a forex limit order a few hundred pips in my favor before...
Don't know what happened but seeing that I made a few hundred bucks off that, I'm not going to pry =:p

They display the quotes in 0.5-s but they'll fill you in 0.1-s if one of their liquidity providers is showing a better bid or offer.

If you want to toggle high-precision quotes on, here's the setting you want to change - but really, why bother? It won't change your fill levels.
 

Shiny Things

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I've had IB fill a forex limit order a few hundred pips in my favor before...
Don't know what happened but seeing that I made a few hundred bucks off that, I'm not going to pry =:p

A few hundred pips? That's pretty bloody generous - how'd you manage that? Or was it EURCHF on Jan 15th?
 

Yxy

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I honestly have no idea. It was USD/RUB a few weeks ago

Here's a screenshot I took at the time. My sell limit was 52.25, it filled at 53.15
The most mysterious part is that the actual price was not even anywhere near that level.
Please explain this magic to me :D

0tfKgL5.png


A few hundred pips? That's pretty bloody generous - how'd you manage that? Or was it EURCHF on Jan 15th?
 
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USDollar

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Guess im just too noob rather than TWS charts not working right.

1) Added the show volume button on chart toolbar. Clicked and volume doesnt show?

2) Add/Remove horizontal space buttons not working? Greyed out.

3) Chart time period shown is "locked" by default. Unable to expand with horizontal bar below until i make some changes to the time period/frame. How to I customize the default settings (time period/frame etc) for charts? Couldnt find it anywhere under display or chart under configuration.

4) Show Candle Outline only appears on "fat" candles? Doesnt show when i decrease bar width.

5) Able to show line from current price across the chart?

6) Currency charts show in 0.05pips instead of usual 0.1pips. eg 1.223345 rather than 1.22334. Any options to change this?

Doesnt help when current TWS userguide pdf is corrupted and 2010 version seems outdated.

Thanks to anyone for any inputs.
 

iammole

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right-click on the chart:

Chart Parameters\Chart Parameters\Time Period\
- Inside u will be able to select the line

Chart Parameters\Chart Parameters\Additional Data and features
- [x] Volume
Chart Parameters\Chart Parameters\
- Volume Plot Height [small/med/large]

IB operates in 0.5pips. When u enter orders in IB will oso be like that. But the actual market runs in 0.1pips. When your orders get filled by the market, when price gap up/down, your orders can get filled in 0.1pips steps. So you have no choice but to change your mindset to operate in 0.5pips steps.
 

kebinu

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Hey,

I wanted to convert some USD to SGD for payment but I forget to use FXConv, I have "opened" up a trade instead.

If I have excess USD & SGD, and with this "open" position, will there be any interest charged on me?
 

Shiny Things

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Hey,

I wanted to convert some USD to SGD for payment but I forget to use FXConv, I have "opened" up a trade instead.

If I have excess USD & SGD, and with this "open" position, will there be any interest charged on me?

Nope - you only get charged interest on the actual balances in your account - but you'll end up with phantom PnL coming from the trade.
 

martin

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Thinking of signing up. Anyone using the IB trading platform on Ipad? Is it good? Any issues?
 

USDollar

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right-click on the chart:

Chart Parameters\Chart Parameters\Time Period\
- Inside u will be able to select the line

Chart Parameters\Chart Parameters\Additional Data and features
- [x] Volume
Chart Parameters\Chart Parameters\
- Volume Plot Height [small/med/large]

IB operates in 0.5pips. When u enter orders in IB will oso be like that. But the actual market runs in 0.1pips. When your orders get filled by the market, when price gap up/down, your orders can get filled in 0.1pips steps. So you have no choice but to change your mindset to operate in 0.5pips steps.

Thanks for the help.

I understand their order system working with 0.5pips increment.

I was referring to their chart. It shows up to 0.05pips instead of the usual 0.1pips for the high-low-open-close values. Yes, 0.05 not 0.5
Is there any option to change the price displayed?
 
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kent07

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Can I get some advice on withdrawals? I recently made a wire transfer from IB and it has to be wired through Brown Brothers Harriman first then to my account? It's been about 4 working days and the funds are yet to be in. I msged IB who in turn told me to contact BB. Any help? Thanks
 

Shiny Things

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Thinking of signing up. Anyone using the IB trading platform on Ipad? Is it good? Any issues?

Yeah, it's quite good - very slick, pretty easy to use. The account management on iPad is a bit lacking, but for just viewing your portfolio and doing a little bit of punting it's great.

There are a few quirks around structuring up options, but if you're not doing wacky-ass options trading that won't be a problem.
 

martin

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Yeah, it's quite good - very slick, pretty easy to use. The account management on iPad is a bit lacking, but for just viewing your portfolio and doing a little bit of punting it's great.

There are a few quirks around structuring up options, but if you're not doing wacky-ass options trading that won't be a problem.

Great. Thanks.

There is absolutely no charge whatsoever if i leave the account dormant when I have nothing to trade? Only monthly charge is the live feed if I want it? And i should set up as SGD account although I intend to trade US stocks?
 

autumm

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Great. Thanks.

There is absolutely no charge whatsoever if i leave the account dormant when I have nothing to trade? Only monthly charge is the live feed if I want it? And i should set up as SGD account although I intend to trade US stocks?

There is a minimum fee of 10usd per month. If you do not clock enough commissions, they will deduct the remaining at the end of the month from the account. This is for account balance more than 10k usd. The minimum fee is 20usd for below 10k balance. Data feed fees do not contribute to this min fee.

You should open SGD account if you intend to deposit your funds as SGD. You then will be able to convert it within the account to USD when u are buying US stocks
 

martin

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There is a minimum fee of 10usd per month. If you do not clock enough commissions, they will deduct the remaining at the end of the month from the account. This is for account balance more than 10k usd. The minimum fee is 20usd for below 10k balance. Data feed fees do not contribute to this min fee.

You should open SGD account if you intend to deposit your funds as SGD. You then will be able to convert it within the account to USD when u are buying US stocks

Oh, thanks for clarifying. The monthly $10 is an issue. There will be times when i may not have much to trade, then the recurring monthly fee would really be too much. I may just have to stick with SCB.
 

1nd3x1nv3stor

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It really depends on how much you trade per year.
Assuming the exchange rate in SCB costs you 1% more than the spot rate that IB quotes and the brokerage fee of 0.2% in SCB,
so your break even is $120/1.2% = $10,000.

If you trade $10,000/year, it does not matter which one you use.
If >$10,000, then IB is cheaper for you even though you pay $10 min per month.

Hope this helps.

Oh, thanks for clarifying. The monthly $10 is an issue. There will be times when i may not have much to trade, then the recurring monthly fee would really be too much. I may just have to stick with SCB.
 

martin

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It really depends on how much you trade per year.
Assuming the exchange rate in SCB costs you 1% more than the spot rate that IB quotes and the brokerage fee of 0.2% in SCB,
so your break even is $120/1.2% = $10,000.

If you trade $10,000/year, it does not matter which one you use.
If >$10,000, then IB is cheaper for you even though you pay $10 min per month.

Hope this helps.

Thanks. It gets a bit complicated in that I am already using SCB and having quite a substantial amount in USD there already. I don't se myself adding a lot more USD in the near future. On the other hand, starting with IB means having to slowly reduce my holdings in SCB and converting the USD to SGD then convert to USD again in IB.

The other thing I have been comparing is that with IB, it is forcing me to make each trade at least more than $500 to be better than SCB because a $500 trade in SCB works out to be .2% of $500 which equate to the min. comm. of $1 in IB. This will alter my trading patterns cos in SCB, i have many trades I do at $500 or less.

The other thing is with IB, I better not buy stocks of few dollars in price. Eg, 1000 shares of a $2 stock works out to be $4 comm in scb but that is $5 in IB cos of .5 cents comm. per share.

Now, i really need to think carefully. If there is no monthly comm. in IB, then no harm to set up one and be inactive. Once into IB, i gotta make sure I trade enough to justify the recurring comm.
 

Shiny Things

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Thanks. It gets a bit complicated in that I am already using SCB and having quite a substantial amount in USD there already. I don't se myself adding a lot more USD in the near future. On the other hand, starting with IB means having to slowly reduce my holdings in SCB and converting the USD to SGD then convert to USD again in IB.

Nope, you don't need to do this. If you own USD-denominated stocks in Stanchart, you can transfer those to IBKR without having to cross the spread twice.

I remember someone else asked about this a few weeks back; buying a short-term USD bond ETF like CSJ and then transferring that across to IBKR is going to be cheaper than converting USD->SGD->USD and going that way.

The other thing is with IB, I better not buy stocks of few dollars in price. Eg, 1000 shares of a $2 stock works out to be $4 comm in scb but that is $5 in IB cos of .5 cents comm. per share.

Other solution: don't trade dodgy penny stocks in the first place?
 

martin

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Nope, you don't need to do this. If you own USD-denominated stocks in Stanchart, you can transfer those to IBKR without having to cross the spread twice.

I remember someone else asked about this a few weeks back; buying a short-term USD bond ETF like CSJ and then transferring that across to IBKR is going to be cheaper than converting USD->SGD->USD and going that way.



Other solution: don't trade dodgy penny stocks in the first place?

Transfervfrom scb to ib would cost money, no?

Don't quite understand about the usd bond thing.

True, i was thinking i just don't buy the penny stocks. Not a big deal.
 
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