How to buy T-bills on IB?

Surdo · Dec 19, 2006

Citibank had a sign in the window for 5.25% fully liquid Money Market accounts, set up the ability to wire it back and forth.

Buy Fidelity FCRXX US Treasury MM fund paying 5% in your brokerage account.

Use your noodle!

Daal · Dec 19, 2006

IB dont let you buy mutual funds. Citibank wont accept foreign clients without you proving you dont have plans to assasinate the president. thanks for the suggestions

AmbushHillbilly · Dec 19, 2006

Quote from optioncoach:

So you will only enter a t-bill trade for your customers if they buy $1,000,000 minimum?????????

Okay , 1% of the folks on this board CAN buy t-bills at IB.

Daal · Dec 19, 2006

Quote from AmbushHillbilly:

Okay , 1% of the folks on this board CAN buy t-bills at IB.

USING MARGIN

IB Salvatore · Dec 19, 2006

The margin requirement is 3%.

daytrader85 · Dec 19, 2006

Quote from IB Salvatore:

The margin requirement is 3%.

So, I can buy a $1 Million t-bill if I just have $30,000 in my account?

El OchoCinco · Dec 19, 2006

and the margin interest charged would probably wipe out the interest received lol. Otherwise wouldn't we all load up on $1,000,000 t-bills for the year and earn a risk-free rate of return on 3% down

Quote from daytrader85:

So, I can buy a $1 Million t-bill if I just have $30,000 in my account?

IB Salvatore · Dec 19, 2006

Correct.

You would have zero buying power and substantial debit interest charges.

AmbushHillbilly · Dec 19, 2006

Okay , I stand corrected - about 1% of the folks on this board CAN buy t-bills at IB and make money at it.

Traveler · Dec 19, 2006

You might look at doing the EFP on 100 shares of stock that has a face value of 10k. You get the LIBOR rate minus commissions.

If we are really talking about 10k, one month's interest is only $45 so this thread is probably just academic.