CFD trading with Interactive Brokers?

Brianharvey · May 9, 2014

Does anyone trade CFD's with interactive brokers?
I'm currently using Colmex. Love the platform, but I'm a beginner trading small size, so I think I may need to cut as many costs down as low as possible (commissions, data feed etc)

I'm thinking about opening an account with IB as I believe they have commission of 50c per hundred shares each way?(I'm currently paying $1 per 100 shares each way)

I really miss the colmex platforn if I move. It's like a proper daytrading platform, and looks similar to those like instaquote, sterlin etc.

Looks like this:

I love trading directly from the 'stock box' etc. It's all so fast and nice. I can click on a symbol and it'll change the stock box to that symbol.

From what I gather, IB looks like this?:

I can't imagine trying to trade from that.

Is there a free way that I can get IB platform to look like the first pic?

What other fees are there with trading CFD's with IB? data feed? (how much)

I look forward to replies from anyone who uses them!

cheers

d08 · May 9, 2014

Last I did, they had issues closing positions. I'm not sure if it got resolved as they never got back to me. While talking with support, it was apparent that not many people trade CFDs with them, so you should talk with CS on London hours. I hope they get the issues fixed as CFDs are the way of the future for non-US customers.
The costs are all on their website.

moarla · May 10, 2014

you can make IB s platform looking like the platform you psdted.
IOB can everything others can do. you just need to study :-)

pinkman · May 11, 2014

moarla said:
you can make IB s platform looking like the platform you psdted.
IOB can everything others can do. you just need to study

You sure? I thought most people who use IB tend to use a 3rd party platform for charting and to place trades if daytrading (like E-signal?), as it's just not feasable on it's own.

moarla · May 11, 2014

https://individuals.interactivebrokers.com/en/?f=/en/software/tws_mosaic_highlights.php

its called MOSAIC. you can do everything in IB TWS. if you like another outfit or somnething other, you can do it.

GO TO IB HOMEPAGE AND STUDY.

Brianharvey · May 11, 2014

pinkman said:
You sure? I thought most people who use IB tend to use a 3rd party platform for charting and to place trades if daytrading (like E-signal?), as it's just not feasable on it's own.

That's what I thought - I know people use front-ends so that they can trade without having to use the TWS platform.
If IB can do it all, why does everyone seem to use other front ends?

moarla said:
https://individuals.interactivebrokers.com/en/?f=/en/software/tws_mosaic_highlights.php

its called MOSAIC. you can do everything in IB TWS. if you like another outfit or somnething other, you can do it.

GO TO IB HOMEPAGE AND STUDY.

Thanks. I'll take a look

justrading · May 11, 2014

IB has recorded webinars on how to configure Mosaic, possibly under intro to TWS.

I use Sierra Charts for charting because it is superior to Java stuff, has way more studies and most importantly has spreadsheet capability.

I manage all orders on TWS, no sense having an extra layer in execution, but in any case I'm a swing trader.

Brianharvey · May 11, 2014

justrading said:
IB has recorded webinars on how to configure Mosaic, possibly under intro to TWS.

I use Sierra Charts for charting because it is superior to Java stuff, has way more studies and most importantly has spreadsheet capability.

I manage all orders on TWS, no sense having an extra layer in execution, but in any case I'm a swing trader.

Yeah, i'm sure it's fine for swing trading.

I like to trade directly from the chart like on ninjatrader and lots of proper daytrading platforms. Wonder if TWS for cds's can do that

justrading · May 11, 2014

Brianharvey said:
Yeah, i'm sure it's fine for swing trading.

I like to trade directly from the chart like on ninjatrader and lots of proper daytrading platforms. Wonder if TWS for cds's can do that

No idea, why don't you put in a request for a paper trading account and try it out there. If you have a funded account with them, and I take it you do, then the data is real time so sim fills based on RT data.

I think the request is via account management page on TWS.

luisHK · May 13, 2014

d08 said:
Last I did, they had issues closing positions. I'm not sure if it got resolved as they never got back to me.

IME execution is not quite as smooth with CFDs as it is with the underlying, if modifying an order it will take a while until it shows as active. Recently I tried to buy at the ask price on significant size and the ask stayed at that price for a while but my order didn't get executed, than the price ran away (I was in China with a poor internet connection which might have made matters worse) . Cost me quite a bit in missed profit.
I only use CFDs on markets hit by transaction tax, would stick to the underlying otherwise. Also with IB in stocks were 100% margin is required the margin for CFDs is actually slightly more than 100%, hence one's maintenance margin increases faster than his profits. Frustrating.