Interactive Brokers is a scam, 2-3x margin maintenance requirements

Most Asian indexes traded down a tad the past 15 minutes as most everything is quite correlated. But nothing noteworthy.

I trade systematized high(er) frequency strategies (colo and proximity located) and also manage a longer-term discretionary book.

JackRab said:
Ocean facing is always good... you can see the cyclones coming ;)

Do you trade HSI, HHI etc? What's that 0.5% drop in the last 30 mins? As far as I can see, started in Xina50... just took the small rebound on that...
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Zzzz1 said:
Most Asian indexes traded down a tad the past 15 minutes as most everything is quite correlated. But nothing noteworthy.

I trade systematized high(er) frequency strategies (colo and proximity located) and also manage a longer-term discretionary book.
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Yeah, is saw Xina50 starting drift down just before 5pm (Aus time) and the rest, HK Japan etc dropped all together at 5. I'm annoyed I can't get market data on Shanghai Comp futures etc. with IB... that would be very helpful. I find Asian markets quite easy to trade, especially China/HK. Setting up a spread at an extreme during the day usually works for me...
 
you can trade A50 futures (CNH17 ticker symbol for the current front month in IB), listed in Singapore, they can move at times by quite a bit.

Then you have access via StockConnect to the Shenzhen and Shanghai Exchanges (stocks) through IB.

JackRab said:
Yeah, is saw Xina50 starting drift down just before 5pm (Aus time) and the rest, HK Japan etc dropped all together at 5. I'm annoyed I can't get market data on Shanghai Comp futures etc. with IB... that would be very helpful. I find Asian markets quite easy to trade, especially China/HK. Setting up a spread at an extreme during the day usually works for me...
More...
 
Zzzz1 said:
you can trade A50 futures (CNH17 ticker symbol for the current front month in IB), listed in Singapore, they can move at times by quite a bit.

Then you have access via StockConnect to the Shenzhen and Shanghai Exchanges (stocks) through IB.
More...

Yeah, that's XINA50... and there's CES120, but that's too thinly traded so useless. I don't do stocks really... too many to choose from and I find Index futures more stable.

A50/Xina50 is definitely not for the faint hearted ;) (and cost a shitload in comms by the way... definitely the most expensive in my list).
 
Final proof read IB's TOS and their documentation for margin calculations.
Zzzz1 said:
Thanks for the news (after I pointed you to it). Moron. Go and get a new broker and stop being such a bore.
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Moron read their TOS paragraph agreement and the documentation for margin calculations.

The TOS and Margin documentation are COMPLETELY DIFFERENT.
A bait-and-switch,a SCAM, case closed.

Not only that I got their customer support agent on a recorded line saying "we can do anything we want with margin calculation at any time". (settle case law, if they record you , you can record them).

Interactive Brokers is being no different than a used car salesman, saying 199.00 a month payment everywhere. Fine print says we can changed your payment at anytime for any reason, and repo your car

Since the TOS and the margin calculations are in conflict, it wouldn't go well for them in front of any judge with a good lawyer. I have no loses, so no standing for any legal action.

So I really don't care about it but they are probably f'ing over others, so I wouldn't give two shits for someone else f'ing them over.

For what they put on their website is almost out right fraud.
And if anyone works for IB and you're reading this , get your god damn margin documentation to agree with your TOS.
 
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Rant as much as you want. It's pure entertainment. Which country are you from, actually?

bongey said:
Final proof read IB's TOS and their documentation for margin calculations.

Moron read their TOS paragraph agreement and the documentation for margin calculations.

The TOS and Margin documentation are COMPLETELY DIFFERENT.
A bait-and-switch,a SCAM, case closed.

Not only that I got their customer support agent on a recorded line saying "we can do anything we want with margin calculation at any time". (settle case law, if they record you , you can record them).

Interactive Brokers is being no different than a used car salesman, saying 199.00 a month payment everywhere. Fine print says we can changed your payment at anytime for any reason, and repo your car

Also since they put the margin calculations and the TOS are in conflict, it won't go well for them in front of any judge.

Finally I have no loses, so no grounds for any legal action but what they put on their website is almost out right fraud.
And if anyone works for IB , get your god damn margin documentation to agree with your TOS.
More...
 
bongey said:
Final proof read IB's TOS and their documentation for margin calculations.
More...

Provide links to the two documents you are referring to. Simply telling people to go and find them could lead those folks to similar documents that are not the ones you are referring to.
 
bongey said:
Final proof read IB's TOS and their documentation for margin calculations.

Moron read their TOS paragraph agreement and the documentation for margin calculations.

The TOS and Margin documentation are COMPLETELY DIFFERENT.
A bait-and-switch,a SCAM, case closed.

Not only that I got their customer support agent on a recorded line saying "we can do anything we want with margin calculation at any time". (settle case law, if they record you , you can record them).

Interactive Brokers is being no different than a used car salesman, saying 199.00 a month payment everywhere. Fine print says we can changed your payment at anytime for any reason, and repo your car

Since the TOS and the margin calculations are in conflict, it wouldn't go well for them in front of any judge with a good lawyer. I have no loses, so no standing for any legal action.

So I really don't care about it but they are probably f'ing over others, so I wouldn't give two shits for someone else f'ing them over.

For what they put on their website is almost out right fraud.
And if anyone works for IB and you're reading this , get your god damn margin documentation to agree with your TOS.
More...

You boast of your fancy Maths degree but the way you whine you've got be be early 20's with no experience. Brokers can provide as little or as much leverage as they please. That is a well known fact in the industry. You're complaining about a firm that is hesitant to lend you their cash for a stock with a 52 week range of $2.60 - $15.55.

You don't get it. You are borrowing money from someone and are quick to call a firm a scam that is lending you this money at rates MASSIVELY below what other firms charge. Since you seem to be a newbie, I'm assuming you are borrowing less than 100K which would mean you are borrowing at their highest rate which is currently 2.41%. E-trade for < 100K is 8.5-9.5%. The other big names are similar. Some scam indeed being charged ~7% less than other firms.

To summarize, you have a firm charging someone like you that is probably high risk (ie. if you go negative equity, good luck getting that money back), institutional rates and you call them a scam because they won't lend you money but they are charging you 700% LESS than other firms for what they are willing to lend to you. That's lame when you can right click anytime to see the amount of leverage you'll get. Typical Millennial. It's all about you. boo hoo. You have no loss here and if you want to borrow more money - go to Countrywide.
 
Exactly. Most every other retail broker does not even credit interest rates on account balances. And their debit rates are 8 or 9 percent plus prime on the lowest tier. OP does not seem to understand that he is intending to borrow others' hard earned money. Thank you IB for keeping those roaches out of your company.

eastern_warrior said:
You boast of your fancy Maths degree but the way you whine you've got be be early 20's with no experience. Brokers can provide as little or as much leverage as they please. That is a well known fact in the industry. You're complaining about a firm that is hesitant to lend you their cash for a stock with a 52 week range of $2.60 - $15.55.

You don't get it. You are borrowing money from someone and are quick to call a firm a scam that is lending you this money at rates MASSIVELY below what other firms charge. Since you seem to be a newbie, I'm assuming you are borrowing less than 100K which would mean you are borrowing at their highest rate which is currently 2.41%. E-trade for < 100K is 8.5-9.5%. The other big names are similar. Some scam indeed being charged ~7% less than other firms.

To summarize, you have a firm charging someone like you that is probably high risk (ie. if you go negative equity, good luck getting that money back), institutional rates and you call them a scam because they won't lend you money but they are charging you 700% LESS than other firms for what they are willing to lend to you. That's lame when you can right click anytime to see the amount of leverage you'll get. Typical Millennial. It's all about you. boo hoo. You have no loss here and if you want to borrow more money - go to Countrywide.
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