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Showing content with the highest reputation on 11/10/2020 in Posts

  1. 1 point
    IB look set to move their London office, eliminating the PDT rule for UK and EU clients. See link for full details but from FAQ, Q: Will I be subject to the U.S. Pattern Day Trading Rule once my account is migrated? A: Accounts maintained with IBUK are subject to the U.S. Pattern Day Trading (PDT) rule as the accounts are introduced to and carried by IBL, a U.S. broker. The PDT rule restricts accounts with equity below USD 25,000 to no more than 3 Day Trades within any 5-business day period. As accounts migrated to IBLUX, IBIE or IBCE will not be introduced to IBL, they will not be subject to the PDT rule. But FAQ also say.. Q: What happens if IBKR does not receive the regulatory approval necessary to migrate accounts by December 31, 2020? A: IBLUX, while approved, it is subject to constraints on the permitted scale of its business and licensing for either IBIE or IBCE is therefore necessary to complete the migration prior to December 31, 2020. If a determination is made that neither will receive licensing in time, clients will be contacted with an explanation as to how their account will be treated at the end of the Brexit transition period. See here for full details. https://ibkr.info/en/article/3515?
  2. 1 point
    I use both. Depends on situation. It is good if you can use LIMIT orders as you get better price for the stock(think if you trade 3000 shares a day and you save 3c per share =90$ a day), but what i mean is that at the beginning it is not the most important thing to get the best price. It is more important to get in a good setups and have good risk to reward Also it depends how you trade. I think in Andrews fast paced style it is essential to get in fast and get out fast. If you are catching bigger swings, then i don't think there is such a hurry that you can't take LIMIT orders. I think Norm is using some sort of LIMIT Order -Hotkey... I like Tiered sizing. I trade small and make partials, so it make sense to me. The fee structure depends on how you trade. You need to calculate how many partials do you take and how big size you trade. IB has Tiered and Fixed. Tier is 0,0035$(min. 35c) + ECN. Fixed is 0,005$(min. 1$) and includes ECN. CMEG has 0,0065$(min. 50c) including ECN.
  3. 1 point
    Robert is correct. Jason, here's what you do. Log in to the IB Acct Management page. Go to Statements. To the right, you'll see Create Custom Statement. Click that. On the next page, give the statement a name (maybe Commissions and Fees). Under "period," choose Daily. Then, in the "sections" at the bottom, click Commission Details. A check will appear showing you've selected that one. It is the only one you need to select. Next, mark any of the "Section Configurations" you want. You don't have to choose any. Click "continue" at the bottom right. You'll then get to review you choices. Click "create" at the bottom right. Next page, click OK. Next you'll be taken back to the Statements page. You'll see the custom statement off to the right. Click the little arrow to the right of the statement name. It will run the statement for whatever date is in the field (in the list of fields). This report will show you the total commission as well as the breakdown of broker charges and third party charges. Hope that helps!
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