How can i trade CFDs in TWS?

traderjo said:
I read what you wrote about Banks owning Brokerages etc but as customer that is not here or there , As a customer all I need is the service.
And how is that a reason? in US IB is not a bank either but provides Margin! at retail
we got attracted to IB with it's low rates and giant status but what we experience is indifference and slowly erosion of services // take it as a feedback instead of dismissing it!

- Also CFD no matter even if it is DMA as you mentioned is not substitute for real stock ownership where we can do things like Covered calls etc with CFD one can;t .
- Client money protection AFG is not as good as SIPC! and it only applies to Stock + becasue you are hybrid of stock/ Futures it is not even clear with ASIC rules we are covered or not? WIth US entity cash is swept back to SIPC and provides SIPC protection no matter if we are trading futures or stock
a position in IB CFD in AUS will not be treated as stock ownership!
And no I am not looking for crazy leverage just standard Australian or US Margin loan facility!
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There is no requirement in law or morally for IB to provide you with anything , it's a business transaction , if you don't like it trade with someone else, simples.
 
I was just pointing out the lack of logic in NOT supporting AUS based clients. That s is all. Of course I know that there is no law which says they must do business in any particular country
It was customer feedback..
 
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henry76 said:
Fine , though I think IB have been reasonably successful, even with their lack of logic.
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Yes they are and I am still a client main reason is single account / low comms etc but customer service ! better not talk about it and haphazardness in service in AUS.
Not being able to have simple Margin A/c is ridiculous ASIC treats everybody equal Leverage of 1:3 for equity is normal retail in AUS has been for decades AND has nothing to do with the being a Bank or not.. infact for a giant like IB many Banks will be willing to provide that
 
I sympathise , but you have to be pragmatic , I have to put up with the vagaries of EU rules , ( I turned £20 into £2000 in the month before the EU banned binary bets,( cmc spreadbet binaries) and I believe they are the limiting factor on the margin I get on IB cfd's , of course I suppose I could try and persuade UK to leave EU , but what are the chances ?
 
yes I am pragmatic that is why I am still with them.. all I am point out is the excuses given by IB here are lame excuses in an somewhat well maintained jurisdiction like ASIC they should be able to be fully compliant easily and provide the services that other are already providing
 
@kakao

Ok I spent some time and broke it into steps.
1. Select the CFD you want,
https://ibkb.interactivebrokers.com/article/1984

2. Enter it in TWS.
(enter the CFD symbol e.g. IBUS500 and choose CFD)
cfd1.png


3. Choose BUY or SELL (right click on symbol)
CFD2.PNG


4. "review order" or "check margin impact" (right click on the order line)
When you check the margin impact it will open a little java window for updating trading permissions. This got a little slow so I went directly.

Alternative to Step 4 - Directly updating trading permissions (you could do this first)

https://ndcdyn.interactivebrokers.com/AccountManagement/AmAuthentication?action=TA_TRADE_PERM_BETA

Select "complex leverage products" -I am guessing that this is the right choice but I've added them and will await their approval - this can take a day or two so.

Note:
1. IB posted a warning that 65% of (UK?) customers lose money with CFDs.
2. Always trade a new product in sim mode for a while to see how it goes before trading with real money.

Good trading to all!
 
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