DAS “withhold bp” in excess of purchased shares

[MIGS 3]

DAS shows a “withhold bp” way off in excess of the required $$ for the position, meaning if I buy 100 shares at 10 each instead of showing “withheld BP” of $1000 (100*10) it shows a lot more ( $$ much higher like 1300 )...anyone with the same issue???. Still using my training IBKR account but with full DAS version ( updating to current Rev didn’t fix it).

Edited May 11, 2021 by MIGS

[Bailey Nevener 83]

1 hour ago, MIGS said:

DAS shows a “withhold bp” way off in excess of the required $$ for the position, meaning if I buy 100 shares at 10 each instead of showing “withheld BP” of $1000 (100*10) it shows a lot more ( $$ much higher like 1300 )...anyone with the same issue???. Still using my training IBKR account but with full DAS version ( updating to current Rev didn’t fix it).

Good evening MIGS,

I have had similar issues in the past.  My memory isn't crystal clear, but I believe that when I looked into this the math ended up working out.  Basically there are variable margin requirements for each ticker, so if you are only allowed 25% margin, then IBKR will restrict a significantly higher amount of buying power than the position is actually worth.

Anytime you have this issue, check the Short List provided by DAS.  You can view if the symbol that is selected has any margin limitations.

TRADE  >  SHORT LIST

 

SHORT LIST

 

It is currently after hours, so this isn't updated correctly.  However, this could be your next step in troubleshooting.  Good luck!

 

Bailey Nevener

 

[MIGS 3]

Thanks Bailey, I thought I had 1-4 margin (75% right?)... but is actually only 25% for most tickers...

Edited May 11, 2021 by MIGS

[Bailey Nevener 83]

7 hours ago, MIGS said:

Thanks Bailey, I thought I had 1-4 margin (75% right?)... but is actually only 25% for most tickers...

Trust me when I say this is by far the most frustrating thing about using a broker.  Their variable margin is too much for me.