Search results

I traded fx on IB throughout the day and never had any problems.

I have an account with TDAmeritrade and have some cash within the account invested in a money market account at TDBank earning 0.5%. As I recall there's no automatic sweeping between the brokerage account (so if you go negative in cash you'll be paying margin interest) but otherwise it works...

A contrary view on your assertion is the the expectation of higher interest rates following a U.S. debt downgrade or default. This will adversely impact on the value of dividend paying stocks.

Dajin Resources is sold in the U.S. on the OTC Pink Sheets. The ticker is DJIFF. Most brokers can handle an order. One advantage is there's no currency exchange involved as it's priced in U.S. dollars (generally the actual Canadian dollar bid/ask price converted at the current USD/CAD...

U.S. citizens pay taxes on their global income. With IB (and I expect other brokers as well), your year end 1099 form will include foreign stock transactions. You just treat them the same as U.S. transactions on Schedule D. If dividends are paid they may be subject to foreign country...

AUD, CAD and NZD are examples of other risk on currency trades.

I read in the WSJ recently of something similar. When you donate to a charity you get a letter from the charity outlining how much of your donation is deductible. If the date you file your tax return is before the date of the letter your charitable deduction will be disallowed. The fact that...

Some say it will be armageddon. Some say no big deal. Whenever there are such divergent opinions the truth always lies in between.

Correct. If you receive a dividend on stock that has been lent out then you will pay tax effectively as if it is ordinary income (i.e. at a 28, 31 or 35% rate) versus reporting it as a qualified dividend (taxed at a 15% rate).

Traders, Did you run IB's estimate of what you might earn before signing up? I'm wondering if what they're borrowing from you is in line with their estimate. If I've done the math correctly, you'll see a penny a month.

Also, don't be confused by the fact that most brokers/dealers don't charge a commission for forex. In effect they build it into the bid/ask spread. I think in general you'll find that IB spreads plus commission is a better deal than most spreads without commission.

Your trading does need to be substantial enough so it isn't considered just a hobby or normal investment activity but I've never heard it needs to be your sole source of income. I've been deducting trading expenses for three years along with reporting substantial income from a full time job and...

Did you eventually exit all of your trading positions during the year? Wear all gains/losses short term? If so, then doing the Schedule D on a micro (i.e. per trade) level may be technically correct but won't result in any different tax bill then if you did the Schedule D at a high level, such...

I'm still using QT with IB feed. No problems.

I don't think that will work but best to check how Iowa documents residency for in state tuition purposes. I live in Florida and when my daughter went to college here we had to complete a form that indicated things like 1) home address (rent or own for how long, homesteaded, etc.), 2) state of...

Good question. You have to sign up for this program so they can load out your fully paid shares. But perhaps other shares are in street name and they can loan them out without your OK. Anyone know? It must be in the fine print of your brokerage agreement.

Some months I'm over $1B in forex trading and get a reduced commission. Last month hit $2B and got a further commission break. But individual trade size is rarely > $5M so slippage hasn't been a problem. Lots of medium size trades. As I mentioned, I haven't used any other broker . . . or...

I'm a heavy forex trader with IB (but not having traded forex with other brokers, can't compare IB to others). With IB, there are no lots. You indicate the amount of currency you want to buy and the currency pair (e.g. buy 54,615 EUR.CHF). If you don't have the currency you're purchasing...

Another problem with this program is there's no guarantee that they will return your shares prior to an ex-dividend date (although IB indicates they will attempt to do so). But if unsuccessful, any gains from loaning out shares will be completely wiped away by higher taxes from earning...

There are a number of former CEOs that have been on CNBC that now reside in one of the big houses.