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EU members with timeshift

  1. What's new in this club
  2. cmeg is in trinidad and tobago so a non standard jurisdiction (belonging under portugal i think though) cmeg substract your platform fees from your account so eventually you will need to refill sooner or later your account while IB does only substract commmissions cmeg has lower availability for shorts cmeg has higher commission cmeg does not allow you advanced risk controls while DAS on IB allows some more there is no practical reason to use cmeg anymore as IB EU offers you much more
  3. Are non-U.S. residents subject to the Pattern Day Trading Rule? Trade Issues/ Pattern Day Trader Non-U.S. residents whose accounts are carried by IBKR Australia, IB Canada, IB Central Europe, IB Hong Kong, IB India, IB Ireland, IB Japan, IBKR Luxembourg and IBKR Singapore are not subject to the Pattern Day Trading Rule. Non-U.S. residents whose accounts are carried by IB LLC or IB UK are subject to the rule. ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- Okay, I just found this digging in the FAQ from IB and that's why I'm confused. Would you mind explaining the diff between IB and CMEG? Thanks for the reply!
  4. PDT does not apply to canadians nor europeans you may open IB EU account if you have residence in EU or open canadian account if you pay taxes there
  5. Hi all, I'm a Canadian citizen living in Germany and new to day trading. I've read the posts, but any recent recommendations for brokers? I don't quite understand the IB PDT problem people are mentioning? Thanks for the help!
  6. Hi All, I joined BBT last year august and I am in the final 3 weeks of the PCT Bootcamp. During this time I have noticed that it is very important to have a trading buddy or group, you can talk trading to and exchange thoughts. As I am in Europe time zone, Amsterdam to be specific, I was wondering if such a group exists or if anyone would like to be my trading buddy? If you are interested please send me a mail on: [email protected] or reply to this thread Trade safe a hope I can connect to someone!
  7. I am so happy to hear you say that Peter. Thanks.
  8. that applies to european stock exchanges not to european citizens
  9. This is what I found. This is tiered for Europe it looks like.
  10. why are you comparing fixed to tiered? just chose tiered in UK and you will have the same prices
  11. Hi again PeterB and others! I haven't looked into the commission structure because of being in SIM only recently. But I am getting closer to going LIVE and looked properly into the commissions. Are the commissions really 0.05% of total trade value? For example if someone buys 50 shares of AAPL at $150 per share. IBKR (UK) - 50*$150=$7500 -- Which 0.05% off is $3.75 IBKR (US) - 50 shares * $0.0035=$0.175 -- So it doesn't even get up to the minimum, which is $0.35 per order. Are we paying $3.75 for this order, while people in the US are paying $0.35 for it? Or am I completely misunderstanding the commission structure?
  12. no, that applies only to US and UK IB accounts
  13. Hi everyone, Do we as European citizens need minimum 25K USD in the IB account being able to do day trading unlimitedly ?
  14. Thanks so much for the reply! Are you day trading? My accountant says I have to enter every single trade on this one particular form by hand!
  15. Hi Jennifer, my accountant was happy with my account statement/ breakdown of the profit. I paid taxes only on the dividend as I did not take profit home. I’m at TD. Thanks
  16. Thank you Peter! Will go ahead and fund the account then.
  17. hi Mathias, i have just opened an IB EU acount with 5k on it and the margin is indeed risk-based and every time different. some times i am able to buy stock for 20k sometimes it does not allow me to do so. its annoying but not much can be done. with CMEG broker you get 1:6 and you can use it fully without any limits but their commission pricing is high now. The margin with IB EU is 1:6.66 actually anyway if you start with small risk then you will be most probably fine.
  18. I am from Iceland and I recently opened up an account with IB but have yet to fund it. I noticed that because I am from Europe, my margin will be "risk-based". It will be calculated based on the diversification of my portfolio. Since I only plan on depositing $5,000 to start with, I really need to get at least 1:3 margin to be able to day trade properly. Is there anyone here with IB and has this "risk-based" margin model? Are you getting any margin with your day trading account? All the best, Matthias
  19. Hi fellow traders in Switzerland. 2020 was my first year trading with IB. Now my accountant is asking for an eSteuerauszug from the broker, but since they are in the UK, I doubt they produce such a thing. I have not received anything at all in my tax documents section in IB actually. How do you handle the mechanics of filing in Switzerland? Thanks!
  20. Do you mind if I ask who you bank with and how you find the exchange rates? As I think I will have to go down that route as CMEG added a bit extra detail to it saying that they could receive from a TrasnferWise account but wouldn't be able to send money back to it, so anything I withdraw from my CMEG account will need to go into a (for want of a better term) proper bank.
  21. btw when i fund my CMEG account i send directly USD from my bank
  22. Thanks for the quick response Peter, I see, that makes sense. I did email CMEG around it as well and they said they can accept TransferWise if my bank doesn't allow me to send in US Dollars. However with a bit more research on the TransferWise website it suggests that it uses the SWIFT network to send USD to Trinidad as it is outside the native country of USD. So additional charges could be added depending how many banks it has to go through to get there and they can't give an indication of how many that is before it goes. If only I did have dual citizenship somewhere else this whole thing would be easier! A bit more research required it seems!
  23. it means that they accept money only from the account number you specify in the account opening application. It is anti money laundering practice so somebody cannot corrupt you by sending you one million pounds to your CMEG account. If you happen to have another EU passport consider opening account in IB EU which allows under PDT daytrading now.
  24. Hi all, My name is Dan, based in the UK and I'm new to the BBT community, I'm currently in the planning stages of day trading and looking at brokers. Through research I think a good fit will be to go with CMEG as I will be starting under the $25k PDT ruling and I want to use DAS. However another aspect that will affect my setup is currency exchange. I know you need to spend money, especially in setup however looking at some of the exchange rates from £s to $s out there it could potentially cost you 4.5%+ of your initial setup if you have to send money with HSBC or other high street banks So I was just wondering what the general consensus was to ensure that this doesn't eat into my P/L before I even start trading1? I read the CMEG FAQs and it says "we only accept wires that come directly from your personal account. We DO NOT accept third party or credit card payments". Does that suggest that it needs to come from a personal bank account from a high street bank or do people regularly use things like TrasferWise, Western Union etc. without any issues? Any advice from your experiences are appreciated, Cheers Dan
  25. Figured out I can share a link from whatsapp to allow folks to join directly. https://chat.whatsapp.com/Fi9aBhpfkJwKOZErAnEdME
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