Interactive Brokers.........Part II

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thomas,
the demo does not have the full functionality/routing options as the real station. Since you are not immediately required to deposit cash to activate an account, I would suggest now that you tried the demo, open an account and see if you have better results. It will not let you place an order ofcourse until you are funded.

regarding ie. 5.0/5.5. The real issue is data encryption. the java station requires 128 bit encryption. If for some reason you do not want to upgrade to 5.5, try going to the help menu on your browser. Choose, "about IE" then click on the upgrade if you cipher strength is not 128K. This is a smaller download.

 
thomas

i don't know how many shares you plan on trading but the penny a share helps me with my trading when i am trading small blocks (300 shares). You have a profit in a trade a lot sooner and therefore you are willing to get out of iffy trades sooner.

on-on
 
Regarding order routing in the IB trading page - if I select Nasdaq for my order routing, is it the same as the Best Execution feature? If not, how is my order routed?
Is there a feature wherein my order gets routed to any ECN with the best price (like Cyber's Best ECN routing) and thereby bypassing the Market Makers?
I've been using their demo and starting to get the hang of it, but am not very clear yet about their routing.
Thanks in advance.
 
nasdaq order route will go via selectnet. To get the bestex feature choose best as your order route. On the Java station if you choose to show the destination column you will see where the order is routed.
 
I just started trading nasdaq 100 e-minis through IB this week. So far I am very imressed, but have one question. Is there a way to see the P&L on current positions?
 
def,

I just made a deposit to my IB account by check for the first time. I find it completely lame that my check is being put on HOLD for 15 days. This should only be happening for people who are starting new accounts.

Example:
I have 50k in my account.
I made a deposit for 10k by check.
If my check bounces, you can take back the 10k and the interest on the 10k. It is a complete joke to hold my check for 15 days when I have money to cover it.

This rule was made to protect you guys from new customers writing bad checks. But don't stick it to your regular customers who have money in their account > than the deposit. Even my deposits to Datek Online don't have this problem.

Can you post or e-mail me your e-mail address?

Thanks!
 
jsmith:

You have to learn how to deal with IB. It's a great deal
for people that don't want to get ripped off on their
commissions.

I know traders that are saving over $100K/year using IB.

To do this IB is heavily automated and apparently has
fewer employees than the other guys. Checks take manual
intervention. Don't do that with IB! Wire transfers
are the only way.

There are other similar issues with IB, pay attention and
learn how things work. It's so worth the trouble!


Richard
 
jsmith,
About a year ago there was a fraud case where a guy opened an account with IB and another broker with bad checks. He traded with himself between the two accounts generating a loss in one and a gain in the other. Our compliance caught the suspicious trades, alerted the SEC and he was arrested. There were a couple of articles about this in the press.

The problem with the US banking system is that a check can still bounce after it is credited to another account. In your example, how can you fully reduce the risk of someone opening an acount, generating a few trades and then defrauding the company.

However, I do know that other methods of deposit are being looked into will allow other methods for placing cash in the account other than checks and wires.

 
I just opened an account with Ib to test If I can use their system for my short term trading and I've got to admit...
I'm getting a little impatient.

I would have wired the funds had I known about this delay.

Nick
 
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