IBUK to IBIE - what's going on?

LondonHedger · Jan 6, 2021

One week into the new year and the move from IBUK to IBIE still hasn't happened.

I was so really looking forward to be rid of the annoyingly ridiculous PDT rule at last.

Does anyone know what's going on?

ZBZB · Jan 6, 2021

If you are in London it may not be happening for you.

LondonHedger · Jan 6, 2021

I've been based in the EU for over a year, and I can't change my ET handle.

I received the migration e-mails from IB and filled in the IBUK-IBIE consent form back in December.

globalarbtrader · Jan 6, 2021

LondonHedger said:
One week into the new year and the move from IBUK to IBIE still hasn't happened.

I was so really looking forward to be rid of the annoyingly ridiculous PDT rule at last.

Does anyone know what's going on?

I didn't know there was a PDT Rule in the UK??

GAT

luisHK · Jan 6, 2021

Yes it doesn t seem my account has been moved either. Didn t execute any trade in the meantime, but placed one to check and there doesn t seem to be special restriction on the account.

antares66 · Jan 6, 2021

luisHK said:
Yes it doesn t seem my account has been moved either. Didn t execute any trade in the meantime, but placed one to check and there doesn t seem to be special restriction on the account.

Two days ago i had a chat with IB´s support. I was told the migration to Ireland will take some weeks. In the meantime i could trade as before BUT the PDT Rule is still in place till the migration was carried out.

LondonHedger · Jan 6, 2021

antares66 said:
Two days ago i had a chat with IB´s support. I was told the migration to Ireland will take some weeks. In the meantime i could trade as before BUT the PDT Rule is still in place till the migration was carried out.

Yes I have made several trades in US and Japanese futures and options this week without any issues. Good to know about the IBIE migration timeline and the PDT issue, thanks.

antares66 · Jan 6, 2021

Support told me we would get a notification 24 hours before the migration process has taken place.

ZBZB · Jan 6, 2021

Why does EU get a PDT exemption when IB U.K. when in the EU did not?

antares66 · Jan 6, 2021

ZBZB said:
Why does EU get a PDT exemption when IB U.K. when in the EU did not

Good question. In EU there never was a PDT rule. With an EU based broker you can trade how much you want but it´s expensive trading US stocks at NASDAQ or NYSE with them. High commis. and not all stocks are tradable.