Interactive Brokers Group Inc
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I was able to get full options permissions on ToS after 1 year of regular trading. They approved me for spreads as soon as I asked, before I traded any options. I was also able to negotiate down my options transaction fee to 0.50 and get a much better margin rate. Would still be cheaper at IBKR but I love the platform too much to leave
30 bps is the actual spread over the fed fund rates that IBKR charges for margin [(source)](https://www.interactivebrokers.com/en/general/which-prime-broker.php). I’d also guess that hedge funds know that they can “refinance” their margin loans with box spreads at comparable rates with any broker, though commissions on options trades may make this a lot more expensive.
What’s more WSB than liquidating 150k across multiple credit lines between physical bullion and my wife’s CashApp then her transferring it to her IBKR to yolo? Lol got to live and let live. The system sucks but I don’t go around complaining about it. You got to take action and think outside the box.
Don't use your banks investing platform. Usually exorbitant fees Trading 212 is the best for me as it's commision free, you can setup a standing order to pay in once per whatever and can set up to auto buy your chosen stock every whatever as well. So you can transfer £250 in per month and buy £50 ETF1, £50 ETF2, £100 stock1 and leave £50 as cash in your account for manual investment if you find something interesting. There are fx fees of 0.15% on both legs of the trade for foreign stock so need to take this in to account. Some brokers let you buy and hold dollars in your account, but not T212. You have to buy and sell on each US transaction so they get their fee There is a waiting list to join at the moment though. No idea how long but T212 say that they are working through the backlog as they closed new registrations for a while so are only now starting to process applications. IBKR is good if you know what you are doing but if you lack experience this will be a challenging broker. No hand holding, you're just chucked in to a professional platform with fees but you have a LOT more options than T212 offers Other free ones are etoro and freetrade but I did not like either of them. I use T212 exclusively. I had an IBKR account but couldn't justify the fees for what I was doing. I did not need the extras that they offer so could do it all in T212. Obvious plug, if you want to join the T212 waitlist send me a DM and I can give you a code which gives us both a free share of a crap stock that will probably be bankrupt by December lol
Short answer: No, and as you already noted, even if you could the volume on option trades is often too low for stops to work effectively, however ... Long answer: If you still insist on trying, you could get close with *two* orders in an OCO contingency. Do some reading on [One Cancels the Other](https://guides.interactivebrokers.com/tws/usersguidebook/ordertypes/ocotws.htm) orders on IBKR. I'll assume you have already done that. Order A: stop-limit STC with the stop set at $6.00 and the limit set at something lower, like $1.00, to catch a gap down below $6.00. Order B: Trailing stop limit with the stop set at least one increment above the other stop, so like $6.05, but it could also be higher. Set the trailing limit at whatever interval you want to sell at. Could be $.05, could be $.50, could be 10%, up to you. In almost every case, Order B will trigger first, canceling A. But A is your backstop. If for whatever reason, the price makes a huge gap down that skips over the trailing stop, order A will save the day. Order A can't guarantee an absolute floor of $6.00 (nothing can, apart from buying a put at $6.00), but it will get as close as it can. For example, if B is $6.05 stop with $.50 trailing limit, and the stock worked it's way up to $7.50 without triggering either order, but then gapped open at $5.90, Order B's limit will be stuck at $7.00 and won't fill, but Order A with a $1.00 limit will fill at $5.90.
You’re welcome :) and Yes the made it to you need to be 21 2 years ago I think. You can always do long equity on IBKR for now, and get a Robinhood account for when you want options. That would still give you the ability to get use to Trader Workstation while just executing elsewhere
IBKR the best overall IMO too, but falls under Finra so he would need 25K or face PDT rules . Questrade is Canadian and doesn’t fall under Finra so he’s free to say trade as much as he wants with little $. But yes IBKR the best no questions asked lol.
Yea Wealthsimple is trash lol it’s a newerish broker so I can’t blame them too much lol. Questrade is much better just has some higher fees like you stated , but will switch OP for free since they recognize Wealthsimple. I like IBKR the best, but they fall under Finra so you will get PDT if you don’t have the 25K account.
If you're in the US you can trade options on IBKR, but you have to fill out an application and get approved. Given your interesting in "dsr-ing" you should probably avoid options all together and have someone buy QQQM for you.
Commenting here, as I don't think a post is suitable for my question: Hi guys and thank you for reading! Newbie here so pls bear with me. Last year I started investing and I am looking to trade some options however, I can't seem to find a platform that allows this. So far, I've been trading stocks under an ISA opened at Freetrade, some crapto on eToro and bought GME on IBKR (non-ISA) as it allows for easier DSR-ing. I've opened a Degiro account as I've seen that you can trade options, but non-US only, and IBKR tells me that I don't have enough funds to trade options (I am on a cash account). Is there another broker where you can trade options with a smaller budget?
Yeah my Roth IRA is with TD they are good. I went from RH -> Fidelity -> TD -> and now to IBKR. TD’s Think or swim platform is similar to IBKR layout wise. IBKR is far superior for margin trading. Rates are 3.08% on IBKR vs 9.75% on TD. Though I don’t use margin for anything but satisfying liquidity requirements on spreads so I don’t actually pay margin interest at all but that’s another story.
I recommend IBKR. Layout is difficult to learn but worth the time. Best platform for options trading, especially when doing combo orders with spreads or iron condors. Get great fills, lowest margin interest rate around. Been trading since 2018 but just started an account with IBKR a year ago. You might think at first you are paying more with the commissions they charge but you have so much more control over how orders are routed and will get great fills. Also, no payment for order flow which is chill. You need to pay like $10 a month for real time quotes but it’s waived if you generate enough in commissions each month which is really easy to do when trading tight, multi-leg option combos. It’s worth it 100%.
Thank you for the enlightenment, for my current broker I am using FSMone (Singapore based). I intent to go to either IBKR or MooMoo (I have alrdy opened both accounts and they are ready to go). Dont worry Robinhood is not available in my country hahaha Regarding your second paragraph, sorry I am a bit confused. if I were to buy back the call i sold, that means I will have 100 physical apple shares again?. I also have more than 100 apple shares so I feel that I will still be able to ride it if apple goes to say 180, of course it wont be as much as if I hold my original amount, maybe half of it
I use tastyworks, and am unfamiliar with IBKR. However when I was assigned shares from an exercised short put I was able to enter a combination order to close both the long shares and my long put simultaneously. maybe check and see if there is an option to route that combined order with your platform.
I use IBKR while at home but I’m often out and about and found webull has the best mobile app for charting and whatnot. I usually set a sell order to how much I think the price will move and it usually fills. If the trade goes bad, I cancel the sell and sell manually. I was just curious why most platforms have an option for stop/ take profit for shares but not options
By Eurodollar I meant the GE Globex Eurodollar futures contract, which sat for 20 years above 99 (it is the short term rate of dollar deposits in Europe) but now is 96.62, but I also did have a short position in Euro/Dollar FX futures (M6E) and a long in the strange little Dollar/Yen e-micro (M6J) that is reversed priced compared to its big brother so on that one you go long if betting on a strong dollar (and if you win the bet, which I did big time given that then Yen climbed to 134, you get settlement in hard Yen rather than $, which makes IBKR a little uncomfortable), but I left both contracts about 2 weeks ego - both were approaching expiry, and I haven't re-bet and probably won't, although I still think the $ will continue to strengthen. But the BOJ could reverse their crazy zero-interest strategy at any moment and the FX reversal would be massive ... so, risk aversion. On TLT I have have generally been bearish for months, but have been jumping in and out, always short (that is, long puts, typically 3 to 6 weeks out, but bailing before the final 2 weeks to minimize theta loss). I am amazed that TLT options still have not really priced in this inevitable negative momentum that is implicit in any textbook bond formula in a era of the highest inflation seen in lives of most of the members of this subreddit (but, alas, not me). They are mispriced and they continue to be mispriced! I have tracked and priced TLT options for a long, long time - I wrote a good chuck of a textbook chapter about TLT as a great example of a sometimes-predictable traditional true ETF (actually collateralized by what it claims to represent). I am currently long in the July 15 110 Put.
I had this/currently have this on IBKR. Just sell the shares tomorrow and you’re fine. They won’t liquidate you unless the loss on shares drops you to a capital risk but as you got a long put to cover your chance of that is super slim.
I transferred my shares out of cs because it’s a scam and so I could sell CC’s against them in IBKR And I’m not posting my shit for you, not because I don’t want to but because I want to keep living rent-free in your head while you seethe
This. Margin interest if not done at IBKR is usually 7-9%, as well as margin calls if bear rally. If you use only a very small percentage of your portfolio to short to avoid margin call risk, often the percentage return compared to whole portfolio is negligible. There's also an asymmetric reward between shorting and being long. Being short, your maximum gain is 100% and you're unlikely to hit that, especially in blue chip companies. In hype stocks, price movements don't correlate with fundamentals, so even if they eventually go to zero, they could have large surges to wipe out your short position.
I like IBKR (Interactive Brokers) which appears to be accessible in the UK. Here in Canada I did have to jump through a couple hoops to get penny and OTC (and Options) but it’s nothing quick Google search can’t walk you through. Cheap fees, lots of tools, penny stocks, I think free ETFs? And of course any manor of bigger companies as well.
I bought when it was 11$. I saw on 9gag "hold your horses" meme for GME on first squezze and just started putting my money there. I sold on around 40-50$ and continued buying when it was 60$. Stupid, but, that was my start. I put additional 3000$ in normal stocks and made 7000$. Transfered to IBKR, came to 10.000$ - and then I enabled options. I have lost all. Now, I have less than 1000$. But... knowledge I gained last year was exponential. I am not sorry for loss, for real. I\`ll keep investing. Without AMC I would have never tasted stocks and options.
I've had similar problems on options for JO (coffee ETF). It's thinly traded, but I haven't had problems in previous months. This month (June), IBKR was quoting a market value for my OTM short calls that were out of line with where coffee futures were trading. The problem was partly due to thin volume in JO itself. Coffee futures might drop overnight, say, but until and unless JO itself trades, the options still reflect the previous day's close. Luckily I got out (legged out) of my positions 1 day before expiry, with a profit; much smaller than a fair price would give, but what the hell - I was just glad to get out net positive. Lesson learned: volume can dry up, like shallow water in the desert. Pay attention and don't get stranded. It also reinforced my preference for running many small option positions at a time, rather that a few large ones. If one position goes bad, or isn't marked properly, it's not going to blow up my account.
Why is this a problem? In most countries you will get it back when you pay your taxes, no?! At least here in switzerland with IBKR, there is only a 15% witholding tax for US stocks / dividends. And those 15% count towards your tax payment when you file your taxes. Aka once you pay taxes on your dividends, you will get the 15% back.
He was Options Trade King, then Options Flow King, and now, Options Chart King. A lot of people had problems receiving alerts, etc. He was going to set up an autotrade with IBKR. He said that it didn't work out after I had paid the autotrade service. He, out of the blue, sent an email when he was Options Flow King saying that he was done. You could not respond to the email. He kept the money of mine and several friends that had purchased a yr. long subscription. I actually wrote him asking for a refund, and as expected, crickets. I would not use this guy.
Need-to-know videos: Android: https://www.youtube.com/watch?v=r6wLCO6uyqQ iOS: https://www.youtube.com/watch?v=2NMusmaOpBI General tutorial on IBKR covered calls (uses desktop): https://www.interactivebrokers.com/en/general/education/videos/bull-market-covered-call.php
You've been talking about GME for the past 1 year in 3 different subreddits. I think you're the jobless one here. At what point does being obsessed with a "cult" of people who are spending their own savings becomes a cult in itself? Also, opened my account at CS 1 month ago. Takes 21 days for the verification code to arrive from Europe to India and then a few more days for ACATS transfer from my other broker to IBKR. You really think I'd pay the forex fees, bank fees, brokerage and DRS fees to buy just 1 share?
When no options for who? I’m able to buy and close as many as I want on IBKR lol. I have warrants from the low today , my question was to the tweet, if it’s the same for every ticker than his tweet means nothing and just wants to create FOMO lol.
As long as you want to trade USA listed stocks/Options/Forex or their exchanges. the brokers have to follow SEC(securities and Exchange Commission-USA) norms. So no matter what broker you go for, the rules wont be changed. but I'm sure after a said period of time, they'll restore your account status. please check with IBKR. PS. I've used IBKR from Middle east as well, encountered similar set of problems 2 years ago.
So LTFs are generally not considered good long term holds. There are technical reasons for this and I am not equipped to explain. Volatility drag is a term used to caution LTF use. LTFs are designed to double or triple daily movements in the market and work differently from long term ETFs. However, I have a possible work around for you. Open a margin account to obtain 1.2 (or whatever) exposure on IVV or VOO. You will save on expense ratio of around 0.03 vs 0.91. Of course, you will incur margin interest. Use IBKR Pro for around 2.33% margin interest or M1 which is similarly low. Dividends will nearly offset the margin interest. All this being said, with the market down around 20% from its all time high, there may come a point where use of LTFs may make sense so long as you can weather the volatility. For instance, if the market drops a whole lot more.
As far as interactive brokers go, you can set up something like an 'emergency contact' whom they will contact if you go AWOL. I'm relatively new to this myself, so take what I say with a grain of salt, but as far as I'm aware, any whole stocks you have bought on a brokerage (at least on legit brokers like IBKR) are owned wholly by you, and I imagine are subject to the same inheritance laws as other assets (I am talking completely out of my ass on this last part). So even if a brokerage goes bankrupt, you own those shares, and can transfer them as you want. However, if you own fractional shares, you don't have that same guarantee. There are insurances in place should a broker go bankrupt, where they will insure things like cash in an account and fractional shares, but they are cash insurances up to some limit. I think I read $20,000 somewhere, but regardless of the amount, the point is if you have a lot of cash in a brokerage and it goes bankrupt, that money is insured only up to a maximum. I'm answering this since I didn't see anyone else with more experience answer, and maybe you can use this to base further research on, but it would be nice if someone more experienced came along to answer this question and correct me. FYI I also live in Europe.
So they haven't actually margin called you and liquated equity, you just got this warning? Looks like a generic error message that is meant for margin accounts or any time cash balance gets close to zero. It's not wrong, you are only $10 away from being being zero BP. They are covering the possibility that you do something -- a totally different trade or roll a put for a loss -- that will exhaust your BP, but since you aren't planning to do that, it's probably not something you have to worry about. Of course, you should call IBKR and confirm.