Interactive Brokers
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notouch said:What's the expected date of arrival for the standalone version of the new TWS?
We expect to release the standalone version of our 865 TWS within the next three weeks.
notouch said:What's the expected date of arrival for the standalone version of the new TWS?
cabum said:Do I need to specify somewhere whether I need a margin account? I thought any account supposed to be margin.
*JDR* said:I have two questions.....
1. I wish to eventually test an automated trading system. I would ideally like it to trade straight from my charting software. I have done some searching and seen the odd consultant and website for this but nothing that looks that great. I believe I may be going with Metastock EOD, does anyone know of sofwtare that will take signals from metastock?
Alternatively, I have not bought metastock as yet, is there another good charting package that may integrate better? I know there is tradestation, but not sure I want to use them as my broker and software providor.
2. Can I use an IB data feed in a charting program, for example metastock?
Not to sure whether this matters as IB data feeds look relatively expensive...
Thanks for your help.
peto said:You'd need a margin account. Much more flexible.
Cabumcabum said:Could you please explain what does "more flexible" means? What limitations does a usual account have if to compare with margin account? Or please just let me know where I could find it by myself.
Thanks
Interactive Brokers said:Dear Prospective Client
We do accept clients from Grenada or the Seychelles.
My stand-alone version updated to version 865.2 todayInteractive Brokers said:We expect to release the standalone version of our 865 TWS within the next three weeks.
c6ackp said:Just tried the new "FXTrader" - it's actually quite good...
CTRL + left click on the bid or offer to enter the market
CTRL + "R" for fast reverse
etc.
The bizarre thing is that it's useless for FX! Position, AVG & real-time P&L don't work for FX and the portfolio screen shows nothing when you have new non home currency positions.
I think they misnamed it - it should be called "FuturesTrader" - if you enter YM, QM, 6B, etc. into the grid and trade futures then it all works fine (unless I'm missing something).
At least it's a step in the right direction...
c6
Charlton said:Cabum
I think you found the information already in a previous post when you mentioned trading permissions.
Further information is available at
http://www.interactivebrokers.com/en/accounts/tradingPermissions.php
I will summarise:
A margin account is "more flexible" because:
(a) in a cash account you must have enough cash to cover the cost of the instrument plus commissions
(b) in a cash accoount there are more restrictions on shorting
(c) Forex is not available in a cash account
(d) margin accounts can trade in all available countries, but for cash accounts the products must be denominated in the base currency of the account
When you go through the account set-up screens IB will ask you which of the two types you intend to set up
Charlton
Cabumcabum said:Thanks Charlton!
Are there any hidden rocks in these account types? I mean let's say I have $25000 and plan to trade US stocks and options. What account type is more reasonable for me to open? (Though I think margin is ok for me).
Thanks for your help.
notouch said:I just noticed that you CAN make FX Trader work for FX trading - just tick "include fx positions in portfolio" in your account and you get your position and your profit and loss. Very nice indeed - well done to the TWS programmers. I think they should make that the default option in FX Trader.
Interactive Brokers said:There are two account types you can have with IB eg Cash or Margin.
Please let me know what is not clear about Charltons explanation so we can clarify?
PS Compliments to Charltons posting, explaining the difference.
Charlton said:Cabum
You will need to discuss with them, in any case, your proposal to trade on behalf of others in the light of their note, also on the permissions page:
"Potential Registration Requirements. Persons providing investment advice for others or managing securities accounts for others may need to register as either an "Investment Advisor" under the Investment Advisors Act of 1940 or as a "Broker" or "Dealer" under the Securities Exchange Act of 1934. Such activities may also trigger state registration requirements"
You may need to set up an advisors account rather than an individual account.
Charlton.