Does Interactivebrokers.com support Give-Up?

Does any one have any experience using Interactivebrokers.com "Give-Up" either as a CTA or as a client of CTA?

If you do, would you mind to share your experience, Good or bad.

How easy to set it up?

Through TWS, how does advisor know the account balance of the client who does not have account with IB (so need to allocate contracts to "give-up" process)?


Thanks.
 
Quote from dabao91:



Does Interactivebrokers.com support Give-Up?

Yes. Please PM me or contact one of the sales persons listed here:
http://www.interactivebrokers.com/e...p?ib_entity=llc


Would you please post the related URL which describes how IB supports "give-up" process?

Thanks.....
More...

It says "Please PM"

If someone is too dumb to read "Please PM" are they too dumb to be an IB customer?

No answer required.

Quote from Wayne Gibbous:

There is a reason IB calls themselves "The Professional's Gateway to World Markets".

If you can't get TWS to work, if you don't know what the different status colors mean, if you can't understand why they hold your money until funds clear, if you have a shitty ISP and you bother IB when data drops, etc, etc, etc...they don't want you.

And they will tell you to go somewhere else. How many brokers have the balls to do that?

And heck, if you don't like IB why DON'T you just go to another broker? Otherwise, simply add to or vote on the IB improvement suggestion list.

Good trading to all.

:cool:
More...
 
Deposit them somewhere else and transfer via DTC/ACAT.

While we're on the topic, under what circumstances would DVP/RVP be useful for a retail trader?

I can think of one scenario. I have securities in an IRA account at another custodian. Their commissions are high, ie they're ok for long-term asset allocation but not for trading. I could execute the transaction at IB for pennies, but the purchase/sale of stock actually goes to the account at the IRA custodian. Do I have it right?

Traveler



Quote from HoundDogOne:

You are exactly correct.

IB's unwillingness to spend more money to provide and/or improve basic services...
In the context of having > 50% profit margins...
Is a rigid, cultish, ideological position.

It makes no business sense.

For example...
I have a some paper Stock Certificates worth about $50,000 (versus a 7 figure account)...
Of a major NASDAQ listed stock that trades about 3 million shares/day.

IB refuses to take these Certificates under any conditions...
Even though they MUST be providing this service for Correspondent Clearing firms.

Charge me $100 or whatever...
But provide a Basic Service for goodness sake...
Because someday I will take 50% of my business elsewhere...
And STIFFING my firm on those Stock Certificates will cost IB well into 6 figures.
More...
 
Quote from dabao91:

Through TWS, how does advisor know the account balance of the client who does not have account with IB (so need to allocate contracts to "give-up" process)?


Thanks. [/B]
More...

I don't understand this part either. I'll bet if you want to just casually do a 1 time give-up, you still have to have enough buying power in the executing account. Otherwise there would be credit risk on the custodial account not having the money T+3.
 
You must log in or register to reply here.
Back
Top