Official Shiny Things thread—Part III

[malthead]

I usually bid within the bid/ask spread, so sometimes my order is partially filled while waiting for another seller to sell me the remaining units. They always show up as a single trade with a single commission, if I let the order complete.

Not sure what happened to yours. Did you modify the order when it was partially filled? Even then, it should still be considered as a single order, unless you cancel it and place another order. Maybe you should check with IBKR directly for an official answer. They have your full order/trade details.

I think I understood what happened. The system filled the smaller lot first for my buy order which incurred the fixed 5 charge. But when it filled the second larger order, the commission was reduced to take into the commission for the first trance such that the total commission is correct.

 

[moolala]

anyone know if its illegal to place orders to trick the algo into buy or sell then cancelling later?

have been seeing someone placing 1k on l2 70 ticks away on buy or sell side to push the price up or down on many hot stocks lately

i know it might be illegal in investment films but is that illegal for retail traders with big bank account?

 

[hwckhs]

I think I understood what happened. The system filled the smaller lot first for my buy order which incurred the fixed 5 charge. But when it filled the second larger order, the commission was reduced to take into the commission for the first trance such that the total commission is correct.

I think you might be on fixed pricing, because you are seeing $5, which is the min for fixed pricing. You better check the Client Portal (under Settings -> Account Settings). When I first created my account, it was on fixed pricing by default and I had to manually change it to tiered.

The min commission for tiered pricing is USD 1.70. I just checked my IBKR trade confirmation reports. For trades that were filled in tranches, IBKR shows a "P" (should mean partially filled) in the "Code" column. When I expand (+) such a trade, I can see the break down of each tranche and the associated comm. No matter what, I never see a $5 in my first tranches, I see USD 1.90 or 1.91 (which is the min USD 1.70 for tiered + exchange/misc fees) instead.

For IWDA (USD-denominated ETFs on LSE):

Tiered:

Entry-level tier: 0.05%, min USD 1.70, max USD 39.00.

Fixed:

Fixed comm: 0.05%, min USD 5.00, no max.

Do note that the fixed pricing is inclusive of exchange fees, while tiered is not.

The tier breaks for tiered pricing are based on "Monthly Trade Value (EUR)". Not sure how IBKR calculates this, maybe it is based on historical trades and does not include your current order/trade. Anyway, if you regularly trade this large, you may qualify for the better tiers with lower comm (0.030%, 0.020% or 0.015%) in future?

I suggest you confirm your pricing plan (tiered/fixed) first.

 

[malthead]

I have confirmed I'm on fixed. Based on my trading, I think it makes more sense.

My last purchase was maybe twice off. I should have switched to tiered given the size since it would have hit the max for tiered but I'm not sure what are the exchange and other costs

So generally if you your purchase quantum is btw 10 and 78k, you should be on fixed? What are the exchange and other costs?

 

[unknownplayer]

Does it make sense to transfer to ib sg if I have nto hit the 100k usd and still incurring fees? Anyone Done that already?

 

[crystalnox]

Does it make sense to transfer to ib sg if I have nto hit the 100k usd and still incurring fees? Anyone Done that already?

Yes I have, so that I can buy ES3 as well. No more additional S$10 at scb + US$10 at IB US. My total brokerage fees now just US$10 at IB SG.

 

[hwckhs]

I have confirmed I'm on fixed. Based on my trading, I think it makes more sense.

My last purchase was maybe twice off. I should have switched to tiered given the size since it would have hit the max for tiered but I'm not sure what are the exchange and other costs

In case you are unaware, switching between pricing plan takes a day or so to take effect. You need to plan and change in advance.

So generally if you your purchase quantum is btw 10 and 78k, you should be on fixed?

That seems about right (just punched my calculator). Some people mentioned the range before, but I always read and forget.

What are the exchange and other costs?

Seems to be this one:
1. https://www1.interactivebrokers.com/en/index.php?f=1590&p=stocks2 and find "United Kingdom - External Fees"
2. click "Stock Exchange (LSE, LSEETF and LSEIOB1)" which goes to https://www1.interactivebrokers.com/en/index.php?f=3879&nhf=T

Exchange fee is a 0.0045% (min GBP 0.10), and clearing fee is GBP 0.06 fixed.

I checked my past tiered trades and tried to decipher the extra fees (since IBKR doesn't provide a breakdown). Mine are VWRD, the same fees should apply to IWDA too. I used Excel and checked my trades of varying sizes, and the extra fees mostly agreed (vary a little bit likely due to GBP/USD forex, or exchange rebate) with the formula stated in link (2) above.

 

[malthead]

In case you are unaware, switching between pricing plan takes a day or so to take effect. You need to plan and change in advance.



That seems about right (just punched my calculator). Some people mentioned the range before, but I always read and forget.



Seems to be this one:
1. https://www1.interactivebrokers.com/en/index.php?f=1590&p=stocks2 and find "United Kingdom - External Fees"
2. click "Stock Exchange (LSE, LSEETF and LSEIOB1)" which goes to https://www1.interactivebrokers.com/en/index.php?f=3879&nhf=T

Exchange fee is a 0.0045% (min GBP 0.10), and clearing fee is GBP 0.06 fixed.

I checked my past tiered trades and tried to decipher the extra fees (since IBKR doesn't provide a breakdown). Mine are VWRD, the same fees should apply to IWDA too. I used Excel and checked my trades of varying sizes, and the extra fees mostly agreed (vary a little bit likely due to GBP/USD forex, or exchange rebate) with the formula stated in link (2) above.

Thanks. Seems like for my last amount the 39 plus exchange fees under tiered is about the same as 0.05% under fixed

 

[chrisloh65]

The inevitable is finally coming................

https://www.barrons.com/articles/wh...-money-from-vanguards-index-funds-51603390832

Why Investors Are Pulling Money From Vanguard’s Index Funds

 

[crystalnox]

The inevitable is finally coming................

https://www.barrons.com/articles/wh...-money-from-vanguards-index-funds-51603390832

Why Investors Are Pulling Money From Vanguard’s Index Funds

I read the whole article, it is extremely neutral towards index funds, suggesting either because "people are retiring, or because they’re negatively affected by the pandemic" and that "some might have gotten so wealthy(from index funds mind you) that they’re taking money out and putting it into, say, private-equity funds". Also it says "401(k) plans offering index funds and target-date funds has increased steadily over the past decade"

So much for your inevitable end to index funds..please read the article instead of just the headlines next time.

 

[hahaman111]

Should we continue to dca with US market near to all time high?

 

[malthead]

Should we continue to dca with US market near to all time high?

Why not? If it didn't move like STI, people wonder if they should continue to DCA. If it rallied like US/global indices, people also wonder if they should dca. Just stay the course if your time horizon is still long

 

[chekseng80]

Yes I have, so that I can buy ES3 as well. No more additional S$10 at scb + US$10 at IB US. My total brokerage fees now just US$10 at IB SG.

Does IBKR SG incur gst for all trades including lse?

Im still waiting for joint acct type to be available for IBKR SG.

Worth the effort to transfer my holdings in cdp to IBKR SG to hit 100k sooner?

 

[crystalnox]

Does IBKR SG incur gst for all trades including lse?

Im still waiting for joint acct type to be available for IBKR SG.

Worth the effort to transfer my holdings in cdp to IBKR SG to hit 100k sooner?

No it does not as of now, but even if they do charge in the future, it's 7% on $10, which is like 70cents of spare change?

Only you can answer if it's worth the effort, it's simple $s saved math.

 

[anonyme]

Hello, I have a joint IB account and an individual Vickers account. I wanted to transfer funds out from my individual Vickers to joint IB but I was told that this unfortunately can't be facilitated. Only single to single or joint to joint.

I am looking to get rid of Vickers because of the horrible $2 fee every month, which is eating into my savings. If I look to transfer out, it costs $50 per counter plus "out of pocket expenses" which I have no idea what it means! Does anybody else have any ideas on how best to do this?

Thank you.

 

[BBCWatcher]

....I am looking to get rid of Vickers because of the horrible $2 fee every month, which is eating into my savings. If I look to transfer out, it costs $50 per counter plus "out of pocket expenses" which I have no idea what it means! Does anybody else have any ideas on how best to do this?

Are these assets held at CDP, i.e. they're Singapore-based securities?

If not, you could sell the assets, transfer the cash proceeds, then repurchase them. Yes, there will be brokerage commissions involved at both DBS Vickers and Interactive Brokers.

 

[hwckhs]

Im still waiting for joint acct type to be available for IBKR SG.

I need a joint account in IBKR SG too.

Do you know when this will be available (tried asking IBKR before)? How do we tell if it is available? Obviously, we shouldn't open a new account just to test.

Thanks.

 

[chekseng80]

I need a joint account in IBKR SG too.

Do you know when this will be available (tried asking IBKR before)? How do we tell if it is available? Obviously, we shouldn't open a new account just to test.

Thanks.

No timeline given. U can ask again since IBKR SG is new, things might changed faster.

 

[ftpofmpo]

how will stocks react if trump or biden gets elected?

it seems that belief in the U.S. growth/reflation trade if biden takes control is driving stock prices to rise

 

[highsulphur]

how will stocks react if trump or biden gets elected?

it seems that belief in the U.S. growth/reflation trade if biden takes control is driving stock prices to rise

Honestly there's no point speculating6