Interactive Brokers (IBKR)

[Lycanboiboi]

Borrowing this thread to ask.

For those who are using IBKR, where did you go to learn about how to use the desktop app?

I just set up the account with them and frankly speaking, I still can't figure out a few stuff. Like for instance, I tried to look for the ticker CSPX, and I saw 2 different ones which when I go into both, they don't seem to be that ETF that I am looking for to buy from London Stock Exchange.

The ETF you're looking for is "CSSPX" on IBKR.

 

[fyeebiyd]

For a start maybe use the mobile app?

I still got trust issues when it comes to mobile actually. So I prefer to prioritize using web browser on desktop or desktop app.

I will get there soon, I believe.

The ETF you're looking for is "CSSPX" on IBKR.

Thanks man!

 

[reddevil0728]

I still got trust issues when it comes to mobile actually. So I prefer to prioritize using web browser on desktop or desktop app.

I will get there soon, I believe.



Thanks man!

can't help you with that then.

i think in this day and age, developers focus more on mobile app because we are so mobile nowadays.

 

[icoolboy123]

Hi! Any1 knows how to check the trading/commission fees in your IBKR account. I have read that IBKR has really cheap commission fees, but when I do a trade, the preview shows the estimated fee is 5 USD (I am buying IWDA and using tiered-pricing). I am not sure if I was actually charged 5 USD for the trade, so does any1 know how to check?

 

[reddevil0728]

Hi! Any1 knows how to check the trading/commission fees in your IBKR account. I have read that IBKR has really cheap commission fees, but when I do a trade, the preview shows the estimated fee is 5 USD (I am buying IWDA and using tiered-pricing). I am not sure if I was actually charged 5 USD for the trade, so does any1 know how to check?

download trade report

 

[coolhead]

So i switched from cash to margin account on ibkr. I used to know how much cash I have on hand to trade. Now it is replaced by symbols such as SMA and MntMgn.
When i was using cash account, this is shown by buying power. But in margin account, my buyjng power is more than my net liquidity.
Anyone knows how much cash balance there is left in the margin account?
Is there a way to check how much is the borrowing cost of margin?

Posted from PCWX using Redmi K20 Pro

 

[icoolboy123]

download trade report

I checked the report and for example, yesterday I bought 13 IWDA shares and the commission stated was -6.87 (I presume SGD), which would be indeed around USD5. Why is the commission so high though? I thought it was supposed to be lower

 

[reddevil0728]

I checked the report and for example, yesterday I bought 13 IWDA shares and the commission stated was -6.87 (I presume SGD), which would be indeed around USD5. Why is the commission so high though? I thought it was supposed to be lower

not too sure what you did. give a screenshot?

 

[moolala]

So i switched from cash to margin account on ibkr. I used to know how much cash I have on hand to trade. Now it is replaced by symbols such as SMA and MntMgn.
When i was using cash account, this is shown by buying power. But in margin account, my buyjng power is more than my net liquidity.
Anyone knows how much cash balance there is left in the margin account?
Is there a way to check how much is the borrowing cost of margin?

Posted from PCWX using Redmi K20 Pro

net liquidity

my suggestion is do not use margin unless ur banking ur life on that trade

u can blow up very very quickly

 

[hwmook]

So i switched from cash to margin account on ibkr. I used to know how much cash I have on hand to trade. Now it is replaced by symbols such as SMA and MntMgn.
When i was using cash account, this is shown by buying power. But in margin account, my buyjng power is more than my net liquidity.
Anyone knows how much cash balance there is left in the margin account?
Is there a way to check how much is the borrowing cost of margin?

Posted from PCWX using Redmi K20 Pro

Don't you have the cash amount displayed? I see it under the account management and also on my portfolio page. Its everywhere.

 

[icoolboy123]

not too sure what you did. give a screenshot?

I can't post an image here though D: level not high enough apparently. But it under the daily activity statement, it showed -6.86 for commissions and when I was making a trade, when I click on preview, the commissions (est) was USD5.

Not sure what I did wrong if any1 could help or troubleshoot that would be amazing

 

[reddevil0728]

I can't post an image here though D: level not high enough apparently. But it under the daily activity statement, it showed -6.86 for commissions and when I was making a trade, when I click on preview, the commissions (est) was USD5.

Not sure what I did wrong if any1 could help or troubleshoot that would be amazing

It’s hard to help when we can’t see anything?

 

[investpedia2019]

So i switched from cash to margin account on ibkr. I used to know how much cash I have on hand to trade. Now it is replaced by symbols such as SMA and MntMgn.
When i was using cash account, this is shown by buying power. But in margin account, my buyjng power is more than my net liquidity.
Anyone knows how much cash balance there is left in the margin account?
Is there a way to check how much is the borrowing cost of margin?

Posted from PCWX using Redmi K20 Pro

I will like to know as well.
I believe in the app it is under Account-Mkt. Value-Settled Cash.
Please advise if this is correct.

 

[punker]

I just opened a paper account to try using IBKR app. Seems to me that the app is so useful with too much information and customisations (information overload and looks a bit confusing to me). Can I check if there is any resources available to learn how to use the app? How do u guys learn when you first started?

 

[_dXter]

Can search youtube for the mobile app demo.

 

[_dXter]

I can't post an image here though D: level not high enough apparently. But it under the daily activity statement, it showed -6.86 for commissions and when I was making a trade, when I click on preview, the commissions (est) was USD5.

Not sure what I did wrong if any1 could help or troubleshoot that would be amazing

By default, fixed rate is set, it takes a day (from experience) for tier rate to be effective after you have changed from fixed to tier.

 

[icoolboy123]

By default, fixed rate is set, it takes a day (from experience) for tier rate to be effective after you have changed from fixed to tier.

Ohhhhh ok! That helps. Good lord the difference between fixed and tier rates are so significant?!

 

[fyeebiyd]

Ohhhhh ok! That helps. Good lord the difference between fixed and tier rates are so significant?!

Hmm... are you asking or did you spot the difference?

I took a look at the website, based on what I see, I can't tell the difference as an apple to apple comparison as the tiered requires large volume to me.

It kind of only matter for those who really do a huge amount of trade like 300k shares per month.

Otherwise, for fixed rate, it is charged at USD$0.005 per share with min amount of USD$1 per trade.

Max amount that will be charged is 1% of the trade value.

If you are charged USD$5, means you bought 2 lots of the shares?

 

[reddevil0728]

Hmm... are you asking or did you spot the difference?

I took a look at the website, based on what I see, I can't tell the difference as an apple to apple comparison as the tiered requires large volume to me.

It kind of only matter for those who really do a huge amount of trade like 300k shares per month.

Otherwise, for fixed rate, it is charged at USD$0.005 per share with min amount of USD$1 per trade.

Max amount that will be charged is 1% of the trade value.

If you are charged USD$5, means you bought 2 lots of the shares?

You are looking at US listed securities.

But poster is talking about U.K. listed

 

[yuzu28]

Hi all
I have some questions on IB and hope someone could help me with them:

1) Is there any fee if I transfer money out from IB to SCB account directly?
Normally, does the receiving bank charge any fee?

2) If I empty IB account, will I still be charged minimum $10 per month for maintenance? I have not traded yet because of the min $10 per month charge if account is less than USD $100k. I only did SGD to USD forex so far.

3) Has anyone use IB purely to change SGD to other currencies before? Then, transfer them back to own trading account, e.g. SCB?