New Trader Setup: DAS TRADER PRO + INTERACTIVE BROKERS (IBKR) PRO

[onlyjava 12]

I am getting set up with DAS TRADER PRO + INTERACTIVE BROKERS (IBKR) PRO

Here's info that may be useful to somebody that is getting started.

 

Step 1: Need to get set up with an IBKR PRO account to link das trader to it 

www1.interactivebrokers.com/lib/cstools/chat?q=faq://pageId=60344976&referrer=copiedLink

 

Step 2: Follow this link to get set up with DAS TRADER PRO

https://bearbulltraders.com/request-special-das-package-for-ib-traders/

 

IBKR setup was pretty straightforward to follow.

 

IB - TIERED VS FIXED PRICING 

After the setup, from the IBKR web site, I changed the Account settings | pricing plan to TIERED (from fixed)

        IBKR Pricing Plan: IBKR Pro; Stocks: Tiered

This forum has plenty of information as to why TIERED is better for volume day traders.

 

IB - FUNDING ACCOUNT

IBKR gives you all the instructions to fund your account.

I set up ACH overnight ($10 per transaction) from my Bank of America account to transfer funds to IBKR.

 

DAS - SET UP

As part of signing up for DAS, there was a webpage form that DAS presented to me - this is complicated.

I had to download a form from that web page and fill it in with my IB account number etc, sign it,  scan it and attach it.

Also had to attach a jpeg of an ID (drivers lic).

After you submit this, it takes about 48 hours for DAS to connect to IB account.

I screwed up this process of uploading the form and the ID - had to do this again - DAS support chat was VERY helpful in helping with this issue.

I was able to use the SIM part of the DAS account, right after the sign up.

Edited September 21, 2020 by onlyjava

[onlyjava 12]

11 minutes ago, gopijapa said:

Is there any reason to use IBKR Pro vs IBKR Lite with Das Trader Pro?

Hey @gopijapa 

Das Trader Pro can be connected ONLY to IBKR PRO

www1.interactivebrokers.com/lib/cstools/chat?q=faq://pageId=60344976&referrer=copiedLink

[GJ 0]

Thanks!