This is me attempting to open 10 options contracts on Interactive Brokers...

The frustration with IB continues. I think I'm nearly done. I have mentioned in a previous threads about IB's restrictive trading policies, and this also relates yet again to that. As in screenshot, I am trying to open 10 option combo contracts, having 20k as my account balance. An error message tells me my account value must exceed the equity that this position would create.

The margin requirement for this trade are far lower with other brokers, so I cannot understand the meaning behind this message. I have enough equity to cover this trade. I have tried calling IB and they don't answer my calls. Frustrating and beyond belief.

 

Try when the market is open.

 

I'm referring to the message itself. Which also shows when the market is open. And trades still won't go though when market is open. IB's risk management is preventing retail traders from progressing beyond a few contracts at a time.

 

i get a gross position value of 270,000 approximately

for 10 (1000 shares) condors 70 75 80 85.

 

Yes, and the margin wouldn't be that anyway, it would be lower. So who knows where IB is getting these figures from...

 

gross capital is an additional limit as it affects balance sheet.

this will be a significant issue when you are trading 500,000 contracts at a clip

 

To which there is no issue with TD and many other brokers. One can trade as many contracts as their balance allows, without these 'extra' checks in place. I now don't think I'll stay with IB after all.

 

I had 500 option contracts on last week with IB.

 

For reference, exact same trade with same number of contracts on TD Thinkorswim platform...

 

And do you ever receive a message saying 'Gross position value must be no more than account equity times 30' or 'Your order is too large to accept for a non-algorithmic order'. Because it seems to me, IB don't like big orders for whatever reason.