[IB] web-crawling in IB webtrader

[d08]

Speaking from experience, it's much harder to try and communicate with brokers (or indeed any organisation) through web interfaces than through provided API's.

So for example to scrape the positions from IB activity reports is much more involved than making a single API call. Also it's not a supported method. If a broker makes a slight change to their web interface you are screwed. I speak from bitter experience of writing data scrapers - days writing ugly code that worked for about a month before a website upgrade killed it. If they make a slight change to their API they will ensure it's kept backwardly compatible.

Trying to submit orders via the webtrader will be even harder. Quite apart from the fact that IB don't want you to do this, they want you to use the API, and will make it very very hard to do it any other way.

If you change brokers, it will be a lot quicker to write new API code (assuming it's properly isolated) than to write new web scrapers and order submitters.

Seriously, this is insane.

GAT

Exactly. If it all falls apart you'd know early on and probably have time to fix things but assume some part of the order page is slightly changed and suddenly your code tries to close a position but the regex (assuming you'd use regex) doesn't match anymore, you're screwed.

API does not change that often and is much more stable.

 

[d08]

0.5% on equities trading. One reason I trade futures.

That tax, of course, is payable regardless of where you or your broker is based.

GAT

Why not trade equity CFDs? That's what everyone in UK seems to be doing?

 

[globalarbtrader]

Why not trade equity CFDs? That's what everyone in UK seems to be doing?

I have a long only buy and hold "forever" portfolio of equities, but I don't trade them. It was far easier for me at least to set up a futures system when I started trading my own capital, so that's the route I took.

Setting up an equities trading system is on my (long) to do list, but somewhere near the bottom. So sure, if I ever got that far down, I'd use CFD's.

GAT

PS there is no stamp duty on ETF's in the UK. Also futures are still cheaper than CFD's, although single stock futures in the UK aren't especially liquid.

 

[d08]

PS there is no stamp duty on ETF's in the UK. Also futures are still cheaper than CFD's, although single stock futures in the UK aren't especially liquid.

Interesting. I suppose it depends on which futures you trade. IB offers UK CFDs and the commissions are okay for EU stuff, of course still expensive compared to US equities.

 

[jk90029]

PS there is no stamp duty on ETF's in the UK.

Many (most?) countries does not charge tax to ETF. I think it is since the company running ETF already paid corporate tax and etc.

So UK ETF is not the only ETF with no stamp duty.

 

[d08]

Many (most?) countries does not charge tax to ETF. I think it is since the company running ETF already paid corporate tax and etc.

So UK ETF is not the only ETF with no stamp duty.

Absolutely not true, most countries don't distinguish between ETFs and stocks.
You can say the same thing about companies, "hey, they already paid taxes", nope.

This is about your benefit from speculation, not specifically related to company operations and taxation.

 

[jk90029]

Absolutely not true, most countries don't distinguish between ETFs and stocks.
You can say the same thing about companies, "hey, they already paid taxes", nope.

This is about your benefit from speculation, not specifically related to company operations and taxation.

If I heard correctly, most ETF and fund already paid appropriate stamp while fund manager in the company buy/sell.

For example, suppose you borrow my cash and run the cash for a year of trading to return back to me, then there is NO tax on money transfer between you and me, after one year.
Your tax during trading for a year, might be enough to IRS, not to double-charge additional tax to me.

 

[d08]

If I heard correctly, most ETF and fund already paid appropriate stamp while fund manager in the company buy/sell.

For example, suppose you borrow my cash and run the cash for a year of trading to return back to me, then there is NO tax on money transfer between you and me, after one year.
Your tax during trading for a year, might be enough to IRS, not to double-charge additional tax to me.

Not the same thing and US has no stamp tax. Stamp tax is to tax trading revenue. Most countries with liquid ETFs don't even have stamp tax, so the funds aren't paying anything.

 

[jk90029]

Not the same thing and US has no stamp tax. Stamp tax is to tax trading revenue. Most countries with liquid ETFs don't even have stamp tax, so the funds aren't paying anything.

My fault, stamp tax and corporate tax.

As individual investor pay income tax for the portion of profit, does American company (running ETF/fund) pay corporate tax....?
A beginner may have wrong idea, so please correct my understanding, for me to appreciate later.

 

[jk90029]

Furthermore, if Sanders win the campaign, then possibly there WILL BE additional 0.25% of trading tax (amount of buy/sell) in US market too, like UK 0.5% and HK Korea of 0.3%.