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Does anyone know if it's possible to make an IRA contribution (my 2005 contribution) by a transfer from my taxable IB account?

Just remember leverage has several meanings. With futures you're not trading on margin directly, but you are highly leveraged. With stocks you can't borrow but they do waive the T+3 requirement in some ways. Check their site for details. Be very careful with futures....watching a...

I used them for ETF trading and they were good. At the time their hours were much more limited than they are now.

dude if you're asking you should be talking to an accountant. I recommend Robert Green (greentaxtrader.com) but there are plenty of others obviously. His company offers software that will process all your trades and generate the Schedule D, but other companies offer it too. In terms of...

I just started an LLC for trading, can anyone recommend a good bank (e.g. Chase, Citibank, BankofAmerica) for small business? I would like to open a checking account to use for paying LLC expenses such as data fees, advisory fees, etc. SSB

Assuming I initiate futures trades during RTH when 50% intraday margins are in effect, once the full 100% margin kicks in (overnight margins) am I correct in assuming the maintenance margin is the margin used? For example if I had $32000 in my account and at noon I bought 10 ES contracts...

This was what I've encountered as well. It's easy to transfer the cash once you have the sub account set up though.

The API is the same but you need to set up allocation profiles or allocation groups and then pass them with each order. They're empty strings for non-FA accounts. SSB

If $5 a tick is too much you shouldn't be trading futures. Start with ETFs which mirror many of the same indices as futures but are not leveraged. Once you're good with DIA (for the Dow), SPY (S&P 500) and QQQQ (for the Nasdaq 100) then you'll be ready for futures. If you can't afford to lose...

Yes you can manage and IRA -- I do it. No margin is available -- as far as I know US law prohibits it. However they have a quasi-margin IRA which apparently waives the T+3 settlement and also allow transactions in foreign currencies, but the borrowing of money isn't allowed (not by IB, by...

You can also call IB and ask to be connected to professional services (they deal with F&F accounts and also professional advisor accounts). There's a special direct number for them but I don't have it handy....but the main number should connect you to them and give you their number. Also you...

Only one account has access to the quotes, so there's only one $10 fee charged against the master account if the commission minimum isn't met. To be honest I've always had at least $30 is every account so I can't be 100% sure if you need to meet it in every account, but I'm fairly certain you...

You can...but it will make your system perform like a 386 2 MHZ machine. If you're really having memory problems just throw more hardware at it. At $100 per GB of memory there's no excuse for not having 2-3 GB if you need it for a trading system. SSB

See: http://www.elitetrader.com/vb/showthread.php?threadid=60996

Yup I think so. Basically if IB goes under you're screwed. Thus you may want to spread your money around.....but remember anyone else who goes under you're also screwed, and I think IB is less likely because they do instant margin calls -- they don't wait three days. Still, if the CEO...

If a huge firm (not necessarily IB) went under, the odds are SIPC would go with it. So that insurance may not be worth the paper it's printed on. I'm not an accountant or lawyer (I'm too interesting :D) but I'd recommend keeping only what you need for investing in the account and getting...

Imagine him running around his prison cell like he does on his TV show, but this time his cellmate is chasing him. He could televise it from his cell and call it "Mad Sodomy". :D

Thanks! You guys should set up an FAQ page with a lot of the answers you posted here. This lack of information is the pits :D

ids does this only apply to ES/SP or also to ND/NQ? Are there any plans to offer other pit traded futures such as RL, MD, etc? On another note will you be able to close out a long SP / short 5 ES position as a spread (assuming you use Globex)? SSB

offered through traders library. I already get it free, but why pay when it's free with any other order. See: <a href="http://www.traderslibrary.com/html022806/emailad.html">http://www.traderslibrary.com/html022806/emailad.html</a> SsB