Recent content by millipede

With so-called "margin" IRAs with IB there's no problem using proceeds of a sale to buy another stock on the same day, without waiting for T+3, but beyond that, day-trading as such does get into the free-riding rules for cash accounts, and it's easy to miscalculate and get the account...

I can't believe it was 1974 that I read Richard Ney's "The Wall Street Gang." Now today with electronic trading and manifold venues, we still see the open everywhere take its cues from the specialist system at the NYSE. Although it has been put aright recently, the SEC's recent adventure in...

Thanks, yes I think the fees are charged on trade date vs. settlement. But I think that's shown exactly so on the daily statement, so the net "available funds" should reflect the real thing. I use advisor allocations, and executions at several prices sometimes do not get distributed...

Never got a reply from IB. Since this problem, have kept 1/4% balance in available funds in the "Margin IRAs." Have not re-encountered the trouble so far. Never found in daily statements that I overspent available funds in these accounts, either. I trade quickly in the last 15 minutes of...

A contact with chat at IB went well insofar as the rep actually looked at the accounts and verified that there were no restrictions, and suggested that we enter orders away from the market to check for repeats of the rejects, and found none. Why that snafu happened this week no one knows...

I notice elsewhere in the forums quite a brouhaha over IB's customer service, which I do not want to wade into, as it's mostly between the participants. By and large, I find IB's systems and technology superb, but my present difficulty with them is typical of customer service when there is...

Thanks Tef8, chat worked better, insofar as I was told the "negative settled cash" was forward looking as of today 9/21. Beyond that, I've had to deduce the trouble myself. So, I reviewed my statements for 9/18 and found positive day-end cash balances, but they were very small, under $10...

For the third day I have been unable to make purchases in two "Margin" IRAs with IB, receiving a TWS error message that they have negative settled cash, while all the daily statements show ample settled cash, along with large cash and buying power balances. I am still waiting for a response...