DAS/IB Questions

[BrandonB 4]

Hello BBT,

 

I'm in the process of transitioning to a live account with DAS & IB.  I recall @Thor mentioning that he swapped some services with DAS? I'll be Day Trading equities only, does anyone have any advice as to what services I should add? Does BBT have any type of discount on a new signup with DAS similar to the 3month-trial? I do live in Canada & will be running this through my Canadian Corporation, there's quite a few steps with this option in IB for the application process.

 

IB - Interactive Brokers Canada - As a new trader would a tiered structure be best? https://www.interactivebrokers.ca/en/index.php?f=45251

 

 

Thanks so much!!

[Bryan W 50]

Hello Brandon,

The community decided quite awhile ago, that the tiered plan is the best choice in nearly every trading circumstance, unless maybe you're make a few HUGE trades, instead of smaller ones with many partials. For most people, I'd expect them to see 1/3 of the cost in comms as apposed to the fixed plan. 

As for what I believe Thor mentioned, if you don't intend to trade options, you can request that DAS swaps out options data for ARCA book L2.  https://dastrader.com/docs/can-i-swap-the-options-feed-or-otc-feed-for-arca-book/

Also, as a member of BBT with DAS and IB, I would recommend requesting this free data add on package: https://bearbulltraders.com/request-special-das-package-for-ib-traders/

Bryan W.

[BrandonB 4]

@Bryan Walquist I'll most likely go with the replay option 160/mth USD.  Do you know if they offer any type of discounts if paid annually? Thank You Sir!

[Abiel 475]

5 hours ago, BrandonB said:

@Bryan Walquist I'll most likely go with the replay option 160/mth USD.  Do you know if they offer any type of discounts if paid annually? Thank You Sir!

Here you will find the different payment options https://www.dastrader.com/form-sub-ib.html

[Bryan W 50]

On 1/2/2021 at 11:33 AM, BrandonB said:

@Bryan Walquist I'll most likely go with the replay option 160/mth USD.  Do you know if they offer any type of discounts if paid annually? Thank You Sir!

No discounts that I'm aware from DAS for paying annually. 

[Dexter177 2]

Hello everyone,

This isn't to do with Dastrader but it's an Interactive brokers application question. On the regulatory section I keep getting this message 'your net worth cannot be larger than your assets' but what am I doing wrong I can't tell!?? Any help would be much appreciated. I haven't entered anything about my total assets so I don't understand what It means...

Many thanks,

Dexter

[cordawg 0]

This may be a little bit off topic for this particular thread.  I'm funding my IB account with CAN but intend on trading in US obviously.  

Does IB just do a one time conversion to US or how does that work if my base currency is set to CAN.

Appreciate any insight.

[Dexter177 2]

 

14 minutes ago, cordawg said:

This may be a little bit off topic for this particular thread.  I'm funding my IB account with CAN but intend on trading in US obviously.  

Does IB just do a one time conversion to US or how does that work if my base currency is set to CAN.

Appreciate any insight.

Hi,

When you go to fund your IB account you can choose which currency you want to deposit Canadian or US dollar (USD) but you would have to exchange your money into USD with your bank first before you send it to IB. Maybe double check with IB, but I'm pretty sure if you wanted to deposit canadian then you can still trade US stocks and it would charge you the exchange fee everytime you buy US stocks with your canadian money, so might be more costly that way in the long run. Hope that helps 👍

Edited April 13, 2021 by Dexter177

[Roberto 10]

Don't convert the money first at your bank!!!!

Convert in IB after the transfer.  IB conversion rates are almost free.  Banks are insane.

Edited April 14, 2021 by Roberto

[Kevin L 2]

On 4/13/2021 at 6:17 PM, Dexter177 said:

 

Hi,

When you go to fund your IB account you can choose which currency you want to deposit Canadian or US dollar (USD) but you would have to exchange your money into USD with your bank first before you send it to IB. Maybe double check with IB, but I'm pretty sure if you wanted to deposit canadian then you can still trade US stocks and it would charge you the exchange fee everytime you buy US stocks with your canadian money, so might be more costly that way in the long run. Hope that helps 👍

You can exchange your currencies on the forex market directly in IB.