Recent content by GTC

Rick, In TDAmeritrade's web-site they still have kept the misleading options for INET and ARCA. However, it does not actually go to INET or ARCA as it was used to; it now goes to the auto-router. The decision has been made a while ago.

TDAmeritrade does not provide direct routing options for a long time now. According to them, their management has decided against it.

According to IB's customer service, IB can liquidate any time it deems necessary including in extended hours and IB is not required to wait a certain period of time--but IB can choose to do so if wanted.

If there is an uptick rule, then there should be a similar downtick rule to be fair.

Till 2009, IB generated schedule D/D1 sometimes did not fully match the sales proceeds that IB itself reports to IRS--even if you simply trade only stocks with no carry over positions. In 2009, IB CSRs mentioned that the cause of that discrepancy was due to the fact how 2 IB's softwares rounds...

For 2 different IB stop orders placed in 2 different occasions, is it possible to place one stop order using "Last" method and another using another stop-trigger method (e.g., Bid/Ask, etc.)?

Ameritrade now considers the total number of day-trades as: min{#of_buy_trades, #_of_sell_trades}. So, at Ameritrade, if you buy 300 shares in the morning, 200 shares at noon; and then sell 100 shares, 100 shares and 100 shares in 3 different trades; then it is considered 2 round trip trades.

The rule say it is not allowed to have your IRA principal as collateral (e.g. a margin account that gives more than 1:1 leverage, etc.). That is why IB does not have true margin account. It is just a same-day-substitution account with no extra leverage and no short-selling of equities. The...

I actually experienced the problem that OP had. On the other hand, I would say IB's overall customer service--though still quite bad--has improved in the last one year.

If it is a math error, I hope IB fixes it quickly--since it would be easy for them to fix in their 1009's and ScheduleD-1 generators' algorithms. It is a shame that the same company adds up the same sales numbers differently and create one more form of discrepancies in its 1009 and ScheduleD-1...

IB has not even said which one is wrong---1099 or IB's ScheduleD-1. It does not seem to be the corporate action issue in this case. My other brokers' 1099 or its ScheduleD-1 worksheet match to the cents.

Once again, in one of my IB accounts, I traded only stocks with no short over-the-year positions. 2008's 1099's sales proceeds and IB generated schedule D-1's total sales still does not match. This is 3 years (2006, 2007, 2008) in a row it is happening. Is anyone else also having any IB's...

It is legally possible for stocks with other brokers like Ameritrade. With IB, you will need to work it around if you wish as suggested by others.

Birdman, Could you cut-and-paste notice? Does it mean Izone's clients will be able to use direct routing just like the regular Ameritrade clients?

151, you are actually lucky that your broker gave you a courtesy call and some time to cover the short yourself. They could simply cover it themselves.