Is anyone else having trouble with orders being rejected due to insufficient margin today?
I started the day with slightly over $100K in cash, which should have given me an intraday buying power of over $400K. My bot entered 4 positions totaling $245K which would have left me with about $200K in excess buying power (assuming 4:1)
A few minutes later my bot entered a new position totaling $62K which was rejected because my "Equity with Loan Value is insufficient to cover the Initial Margin".
I always size my positions to never exceed 2.75:1 leverage, so its basically impossible for me to exceed my intraday buying power.
Later, I had another order rejected in a different stock for the same reasons.
What is going on here? It almost seems like IB is using overnight margin rather than intraday margin for its computations.
Did IB change its intraday margin requirements last night or something?
Anyone else having similar issues?
If you have over $100K, you should consider upgrading you account to Portfolio Margin. As long as you stay over $100K, you'll have less margin issues. You don't have to use the excess leverage.