IB - money market

Discussion in 'Retail Brokers' started by elit, Dec 27, 2006.

  1. elit


    Is there any means of accessing money market via interactive brokers. Instead of having my cash in my account I would like to earn some nice interest on my capital.
  2. cvds16


    why ? to earn 4 $ more by next month ? That is in the best case ...
  3. elit


    I don't know what rates are available.

    $4 on $10 is 40%
    $4 on $100 is 4%
    $4 on $1000 is 0.4%

    4% on $10000 is $400
    and so on

    I'd rather receive some interest on my capital, than only pay the minimum maintenace fees.
  4. cvds16


    use your capital to trade ER2 for example, make 0.2 points each month in total and you will earn more
  5. elit


    Or I could make 20 points each month and and earn a lot more. Piece of cake!

    Let's get back on topic, please.
  6. cvds16


    sorry i thought this was eliteTRADER
  7. me1969


    guys, markets are slow, therefore I do the typing: This is really ridiculous. Why are you not just asking IB helpdesk? They should know the answer.
  8. elit


    You can take time off trading even if you're an elite trader, can't you? Do you have 100% of capital in active trades all the time?
  9. elit


    I was going to. But since this is a discussion board I thought I'd ask here too. Hope that's ok.
  10. ddunbar

    ddunbar Guest

    The answer is no. IB doesn't really want to attract small accounts. That's why they don't pay interest below $10k. There's nothing you can do if you're an active trader with an account below $10k.

    You can't ACH transfer to an online money market account simply because: It may take 3-5 days round trip. Meaning 1-2 days to send it, then 1-3 to get it back into your IB account so you can use it.

    And as far as I know, IB doesn't allow trading in mutual funds, like Money market mutual funds.

    Best bet is to find at least 1 low risk trade per month that'll net you .42% (equiv of 5% per anum).
    #10     Dec 27, 2006