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There are unintended consequences of most regulation. Often the costs to society of the unintended consequences are bigger than the costs to society of whatever the regulation is intended to prevent. E.g. FATCA worldwide is estimated to cost 1.500 – 2.500 times as much as the extra tax revenue...

Does anyone know whether a program exists to calculate FX profit and loss on foreign currency accounts based on the weighted average method? The foreign currency accounts are used for trading stocks denominated in foreign currencies. Interactive Brokers offers a default report of realized FX...

In this situation (USD 1 million account value, USD 100.000 FX transaction) if you choose “IDEALPRO,” will you receice or pay interest on the virtuel FX position (given a positive interest rate for the particular currency)? I assume you will receive interest given there is no leverage? The...

Wouldn’t it make sense to also test the effect of removing sub-pennying? Can anyone explain why sub-pennying is not unfair?

Blue Star loves Anacott Steel

If you are not a US resident, you can trade UK CFDs with equties as underlying without incurring stamp duty.

How is trading income taxed in Ireland? Is trading above a certain threshold taxed as a business and if so at which marginal rate?

The CFD broker has to pick up the bill. Interactive Brokers has increased CFD interest as a consequence.

Or "trader" or "investor."

Are you sure it will move both up and down if directed to Island?

I agree with the headline: The Momentum Factor Is Real. Too Bad It Doesn't Work. Despite this, Cliff Asness has been able to turn the momentum factor into a personal fortune of USD 3.6 billion. Most likely because many risk averse pension fund managers like to invest in something backed by...

Agree. And those who do come up with things that work like gold do not take other people's money. Renaissance's flagship Medallion fund is one such example.

Dimensional Fund Advisors have not been very succesful harvesting the value premium either - a very modest outperformance of their US small cap value fund since inception in 1993. The most likely explanation is that all the anomalies that underly factor investing become much less profitable once...

Although in this interview, he specifically points out that he would close down his funds if the strategies became congested. http://investorfieldguide.com/asness/

Can anyone explain why Cliff Asness went from article 1 in 2015 to article 2 in 2018? The latter article does not provide an explanation. Article 1: https://www.aqr.com/Insights/Perspectives/The-Small-Firm-Effect-Is-Real-and-Its-Spectacular Article 2...

"Let's do some quick math. Assume the average stock traded has a share price of $50. It takes 20,000 shares traded at $50 for $1,000,000 in volume, for which E*TRADE makes $22 per $1,000,000 traded, which sounds like a small number until you realize they cleared $47,000,000 last quarter from...

That "IB raises complaints here by the week more than all other trading software" is in itself a strong testament to the quality and success of IB. https://en.wikipedia.org/wiki/Base_rate_fallacy

Charles Schwab: "Trading occurs through a leading Electronic Market. ... Quotes are not consolidated and represent the current prices available through the Electronic Market. As a participant in the Extended Hours Trading Network, the Electronic Market may also offer access to prices available...

Does anyone know whether status as "professional client" implies that you can get rid of IBs annoying price caps?

Not if you are categorized according to what is referred above as "the first possibility." The second I believe the answer is yes.