Fully automated futures trading

Elder said:
Hello all. A question for those who have either reclassified as a MIFID professional as opposed to retail client (or have researched it). I am thinking of finally making the change so I can trade many of the US ETFs which come without KIIDs. Apart from the loss of protection and retail compensation (which in Ireland is piddly 20K), is there anything else anyone else has encountered that will make this change better or worse wrt automated futures trading? e.g. execution or leverage?
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For some of the more interesting CFD brokers I believe there are leverage advantages, but I only trade futures through IB so it doesn't affect me. The reason I signed up for it is so I can trade crypto futures on the CME, because the average punter on the street can buy spot shitcoins through some unregulated offshore exchange, but god forbid they should trade a crypto derivative even one listed on the worlds leading futures exchange and backed by a massive clearing house...

Rob
 
It does not affect me, but if you are registered as "MIFID professional" do you have to pay higher market data fees at IBKR? In other words: does IBKR consider you then a professional, or still retail individual?
 
globalarbtrader said:
the average punter on the street can buy spot shitcoins through some unregulated offshore exchange, but god forbid they should trade a crypto derivative even one listed on the worlds leading futures exchange and backed by a massive clearing house...

Rob
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Ha! Crypto regulations are clearly absurd on many levels. However your inability to trade crypto futures must be an FCA bar as I am allowed to trade crypto futures despite being a retail client (in the Irish entity). Speaking of regulatory absurdities, I am classified as a big swinging (retail) trader by the CFTC and have to report my crypto positions because my micro-ether positions can run literally into hundreds of contracts (which is still equivalent to less than one Ethereum contract).
 
HobbyTrading said:
It does not affect me, but if you are registered as "MIFID professional" do you have to pay higher market data fees at IBKR? In other words: does IBKR consider you then a professional, or still retail individual?
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Yup. Not all brokers differentiate between MIFID retail and data retail which IBKR does. Saxo will automatically reclassify you as professional for data purposes if you reclassify as a MIFID professional client and charge extra.
 
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globalarbtrader said:
I have the same problem with the 5 year, F1U.

They've gone from CME. This is because LIBOR is no more - it's not just Eurodollar that's died. Looks like the replacements aren't yet super liquid:

https://www.cmegroup.com/trading/interest-rates/swap-futures.html

Rob
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Just received an error this morning that I was unable to retrieve prices for USIRS5ERIS (IB = LIW), despite not seeing that on the CME list of removed futures that was linked earlier.
 
I usually turn off IB Gateway over the weekend. At what time exactly does IB send notification for 2FA weekly login on Sunday? Is it in relation with your restart time in IB Gateway? What happens if you don't respond a few hours?
 
blink18 said:
I usually turn off IB Gateway over the weekend. (1) At what time exactly does IB send notification for 2FA weekly login on Sunday? (2) Is it in relation with your restart time in IB Gateway? (3) What happens if you don't respond a few hours?
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I have inserted numbers to identify your questions.
(1) You get logged off on Friday evening after midnight (US time zone). From then on you can log on again, in theory. However, IB often does maintenance during the weekend. It might be not possible to log on during these periods.
(2) No, I don't think so.
(3) You will remain logged off as long as you don't log on.
 
blink18 said:
I usually turn off IB Gateway over the weekend. At what time exactly does IB send notification for 2FA weekly login on Sunday? Is it in relation with your restart time in IB Gateway? What happens if you don't respond a few hours?
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Basically agree with above.
Connecting to IB US server from the ET time zone, I'm usually kicked off Friday night around midnight for the weekly reset. I then have to log in manually anytime after that (with 2FA) and will stay connected the rest of the week. The daily restart happens in the background whenever you choose in the app and doesn't require any manual input.
 
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