Multiple accounts on DAS trader Pro IB

[paul ang 9]

Dear friends, I just joined and linked my DAS to IB.

I notice there are 2 accounts in the account window:

The top one is a simulator account and the bottom one is the live account.

 

So how do I choose which one to trade with? By clicking on it, is that how I select the account to trade with?

[paul ang 9]

Ok i'm going to answer my own question. Apparently in the right bottom there is a tiny drop down which lets me select the account to trade in.

[Rick Lee 10]

@paul ang, there's also a way to set one or the other account to be your default:

 

Bu sure to hit "apply to all exchanges" or whatever the equivalent is to make sure your stick.

[paul ang 9]

Oh great. Thanks!

[mlestina 6]

Can I pair and use my same DAS account for both CMEG and IB US simultaneously?  In other words, can I have a single DAS account and pay for just a single DAS account and use that same DAS account for an account in my name in both CMEG and IB US?  Will DAS allow me to do that?

Matt

[paul ang 9]

@mlestina Have you tried to contact DAS? They are pretty responsive, I think it should be possible. But i find it confusing at times.

[mlestina 6]

Thanks Paul.

I did call DAS just now (702.943.1881) and they said I would have to pay double if I linked DAS to both CMEG and IB US simultaneously.  Although you can link DAS to more than one IB US account simultaneously for no extra charge, that does not apply for different brokers.

Also this question that I asked is premature as both the 14 day free trial and the 3 month BBT promotional discount for DAS do not use or require a broker.  

Edited October 1, 2020 by mlestina

[paul ang 9]

Right ! Thanks @mlestina for sharing with us!

Ok, anyway, i'm happy with my interactive brokers. 

By the way how come you have 2 different brokers?

[mlestina 6]

I dont have 2 brokers.  Actually I have zero.  I am just starting Sim.  But in 3 months I may need to choose one.  Dont like the US $25k pdt rule.  Further, I am concerned that if I rub someone in customer service the wrong way, Im afraid they could restrict or cancel my account, as often customer agreements are "at will" meaning they can cancel your account for any reason at any time.  Hence I am concerned that IB US may be both inconvenient and leave me vulnerable.  Please mark me if I am wrong.

[paul ang 9]

I'm a happy customer with IB, they deal with a lot of huge institutional traders. Their support is very reasonable, although sometimes they have the high and mighty feel around it.... (like you mean you didn't know that kind of response hahaha).

I don't see why they should restrict your account. I remember there is a video/chat somewhere talking about using another brokerage for smaller accounts first, then later can move on to IB when your account size is bigger.

[mlestina 6]

Paul, 

that may be my strategy.  Start with CMEG, then move to IB US when and if I become a CPT.

My concern is if you call their customer service with a legitimate problem, you first have to go thru a long phone menu maze, key in a whole bunch of stuff, wait a half hour on hold, and then when a person answers your call, they have a long list of rigid questions (often a repeat of what you previously typed in) you are forced to answer before they are willing to help you with your problem. And if you then get thru that, you may then find that either they have no motivation, power, skill or desire to solve your problem.  Then if you as the customer show any dislike or frustration, because your customer service agreement may be an "at-will" contractual relationship, they could restrict or cancel your account at any time for any reason, usually because they want to retaliate against you and hurt you.  I am concerned that if I went with IB US, being what seems to be the only US broker that pairs with DAS, I would be put in a bad position of that happened to me.  IB US may actually be just fine, but they also have a lot of power over an individual customer, and thus there is the potential that they can at some point use that power to bully.  I therefore feel less vulnerable with CMEG.

Please mark me if my logic and concerns above are awry, but I thought that one good function of a group like BBT would be if some customer gets victimized like this, they dont have to suffer quietly but instead could let others know what is going on so others can be more alert.

Please let me know whether any of this makes any sense or if I am an aberration. 

P.S. I wish airlines were required to publish the number of people they have banned.

[paul ang 9]

I have a lot of high net worth friends on IB, none of them had any issues.

Anyway, usually we use the live chat or the message, it works faster.

[mlestina 6]

Paul,

That is great.

But it happened to me at Fidelity (this was unrelated to day trading).

Please see attached.

Matt

[KHarp83 8]

@mlestinaI have two linked accounts through DAS. One with IB and the other with Cobra (Venom). Cobra is a brokerage based in Texas. But in order to trade through Cobra you have to have a minimum of 25k, which I don't so I use there smaller brokerage, which is Venom. Venom does require a 5k deposit. Because Cobra (and Venom) uses IB to clear trades (as many other smaller brokerages do) you can use DAS for both an IB and a Venom account. I pay an additional $50 on top of the $150 I pay for my IB account. This is a really great option if under PDT as you'll essentially have 6 trades per 5 business days.

 

This is the link to link accounts w/ Venom: https://www.dastrader.com/form-sub-venom.html

Edited October 4, 2020 by KHarp83

[paul ang 9]

@mlestina Wow sorry to hear about that...

I didn't know such things happen. I mean, why would brokerages say no to money.