assuming all accounts are in US currency, wait till later today when the upgrade feature is added to the account login page. Then hit the upgrade button and follow the steps. if I heard correctly, upgrades will take place over weekends.
Def, In Barrons they talked about the loan you do when you trade for example a Euro Future on a USD based Universal account. What is the cost of this loan (fix cost, variable cost) ? For a trader that daytrades those product will this fee be waived ? (if it exists)
confirmed, funds do automatically sweep into the equity side at days end processing. Margin: if scalping futures in an overseas market there is no charge for the margin loan. For example, I scalped in/out of an australian future on my USD account. My statement shows a commission of 15.90 AUD, converted to USD 8.90. My account equity which was automatically swept back into the USD security account dropped by 8.90.
David, After my first trades on Euro Futures on my universal account my margin requirement shows : current init : 0.79USD Current maint : 0.79USD I don't have any opened position but I do have some Euros on my USD account that I haven't converted yet... Why is it like that ? Is it because of my Euros ? Thanks
If you only trade futures but want the cash index quotes in addition to the futures quotes, wouldn't it be cheaper to convert to a universal account since the exchange fees are combined, or has this been "packaged" on the futures only account as well. The way i read the letter, the "package" only applies to the Universal Account. If only packaged on the Universal account, i'd bet there will be a lot of people that convert just for the cheaper quote package... thereby creating A LOT more work for IB. Maybe they should offer the "packaged" quote service to ALL accounts (if i'm correct in my above assumption about it only applying to Universal accounts) in order to avoid a backlog and unnecessary back-office work. Somebody please shed some light on this for me.
GS, PM me and I'll take a look. My first though is that you made 79 cents on the trade after commissions (time to retire!). tUw, Going forward only universal accounts will be avaiable. Most of the process of upgrading is automated. If you're talking about costs, for all I know it may require more programming to offer what you request. Your point makes sense though so I wouldn't be surprised if it gets implemented down the line.