Look for "Interest Expense Rates" http://www.interactivebrokers.com/en/accounts/fees/interest.php?ib_entity=llc#debit
I really should know better. I filled out an application, and put in an ACATS request to transfer assets, specified partial, and put in one of my positions. Now I'm being prevented from adding any others from my existing account because it says, correctly, that I've already entered a request for transfer of assets. Like I didn't know that. I can't find any way to add more. As if all I have is that position. Sheesh. This is beyond stupid.
IB are the best. They had server issues about six months ago, which cost an extra 5000 dollars on a losing trade. However these things happen and I expect them every now and then. The API is easy to use, TWS is great too, costs are low. Ofcourse everything isnt perfect, far from it, but you have to figure out and implement the work arounds. And keep your ATS simple. The simplest trading systems are the best and easiest to code. IB provide much more than we pay them for.
Why should I be FORCED to keep my ATS simple ? Why should I have to spend MY TIME discovering and implementing work-arounds ? IB does a decent job, that can be done much better if they managed and marshalled their resources more efficiently.
Obviously IB caters to those traders with low account value but much time to be wasted figuring out TWS bugs and digging answers for arcane tech questions from thousands of forum messages. It has become an entertainment for them.
Try these guys: www.redskyfinancial.com You have a choice in clearing service but they do have an account minimum that is higher than IB's that tends to filter out the noobs. Do not PM me requesting info, contact them directly. I use 4 brokers (including IB), and IMHO redsky are on top of the list. Your mileage might vary...
I totally agree. IB is degrading a little bit, but I haven't seen any viable alternatives that fit my need. The cost of switching is also too high.
They don't have much on their website. Could you please give a bit more information? What's the minimum to open an account there? Is it also an universal account similar to IB? I don't have to open stock and futures account seperately?
poohbear, my original reply asks that you contact them directly. Please do so, as account minimums/markets-traded, etc, vary according to the clearing solution sought and they can answer all such questions. They should be able to give you a demo of the platform + API. If you want stocks and Futures they offer universal accounts, again depending on who clears for you.