Interactive Brokers (Best Kept Secret)

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Marseille07
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Re: Interactive Brokers (Best Kept Secret)

Post by Marseille07 »

Anyone using IBKR as their one-stop shop? Seems like they have most of what we need: software-token 2FA, ATM / debit, brokerage, CMA, BillPay and wire.
bling
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Re: Interactive Brokers (Best Kept Secret)

Post by bling »

Marseille07 wrote: Fri Sep 03, 2021 7:51 pm Anyone using IBKR as their one-stop shop? Seems like they have most of what we need: software-token 2FA, ATM / debit, brokerage, CMA, BillPay and wire.
check writing is notably missing from the list. also, bill pay is only available if you have over 200k with them. only the 1st withdrawal of the month is free.
Marseille07
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Re: Interactive Brokers (Best Kept Secret)

Post by Marseille07 »

bling wrote: Fri Sep 03, 2021 8:23 pm check writing is notably missing from the list. also, bill pay is only available if you have over 200k with them. only the 1st withdrawal of the month is free.
Thank you for saving my time, I tried to enable BillPay but they just told me to call a number; my current amount is nowhere near 200K so I would have wasted my time calling them :beer

Do you happen to know if we have to maintain above 200K at all times to keep BillPay, or can we park 200K+, get it enabled then pull some money out?

I guess another possibility is to try paying CCs by initiating a pull from the CC side. I know sometimes this runs into issues because IBKR's account number includes a U.
AlohaJoe
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Re: Interactive Brokers (Best Kept Secret)

Post by AlohaJoe »

Marseille07 wrote: Fri Sep 03, 2021 9:25 pm

Do you happen to know if we have to maintain above 200K at all times to keep BillPay, or can we park 200K+, get it enabled then pull some money out?
It says "daily NAV" so I assume they calculate it every day and drop people who fall below that.
Marseille07
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Re: Interactive Brokers (Best Kept Secret)

Post by Marseille07 »

AlohaJoe wrote: Fri Sep 03, 2021 9:32 pm
Marseille07 wrote: Fri Sep 03, 2021 9:25 pm

Do you happen to know if we have to maintain above 200K at all times to keep BillPay, or can we park 200K+, get it enabled then pull some money out?
It says "daily NAV" so I assume they calculate it every day and drop people who fall below that.
Holy Mackinaw, that's a steep requirement. I'll shelve this idea then. If I move everything over, I can clear the hurdle. But I find their requirement unreasonable.
Marseille07
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Re: Interactive Brokers (Best Kept Secret)

Post by Marseille07 »

If we can pay CCs from IBKR by pulling from the CC side, BillPay isn't really required. Assuming the "U" in the account number doesn't cause trouble, I'm starting to like the plan of using IBKR as my one-stop shop. I hardly write checks these days, and worst comes worst I can keep Ally just for check writing.
klaus14
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Re: Interactive Brokers (Best Kept Secret)

Post by klaus14 »

Marseille07 wrote: Sat Sep 04, 2021 1:00 am If we can pay CCs from IBKR by pulling from the CC side, BillPay isn't really required. Assuming the "U" in the account number doesn't cause trouble, I'm starting to like the plan of using IBKR as my one-stop shop. I hardly write checks these days, and worst comes worst I can keep Ally just for check writing.
You don't need to put U or any letters.
My investment algorithm: https://www.bogleheads.org/forum/viewtopic.php?f=10&t=351899&p=6112869#p6112869
Marseille07
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Re: Interactive Brokers (Best Kept Secret)

Post by Marseille07 »

klaus14 wrote: Sat Sep 04, 2021 5:24 am
Marseille07 wrote: Sat Sep 04, 2021 1:00 am If we can pay CCs from IBKR by pulling from the CC side, BillPay isn't really required. Assuming the "U" in the account number doesn't cause trouble, I'm starting to like the plan of using IBKR as my one-stop shop. I hardly write checks these days, and worst comes worst I can keep Ally just for check writing.
You don't need to put U or any letters.
Iirc IBKR's ACH instruction had some wording to the effect of "if it doesn't go through, remove the U (or whatever letter you might have)." I'll try finding what they say again before attempting to pull. ACH between checking is fine to bounce, but if I actually attempt paying CC and it bounces then I'll be charged some fees.
klaus14
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Re: Interactive Brokers (Best Kept Secret)

Post by klaus14 »

Marseille07 wrote: Sat Sep 04, 2021 11:47 am
klaus14 wrote: Sat Sep 04, 2021 5:24 am
Marseille07 wrote: Sat Sep 04, 2021 1:00 am If we can pay CCs from IBKR by pulling from the CC side, BillPay isn't really required. Assuming the "U" in the account number doesn't cause trouble, I'm starting to like the plan of using IBKR as my one-stop shop. I hardly write checks these days, and worst comes worst I can keep Ally just for check writing.
You don't need to put U or any letters.
Iirc IBKR's ACH instruction had some wording to the effect of "if it doesn't go through, remove the U (or whatever letter you might have)." I'll try finding what they say again before attempting to pull. ACH between checking is fine to bounce, but if I actually attempt paying CC and it bounces then I'll be charged some fees.
IBKR once rejected my CC payments. I inquired and they said "due to a technical problem now fixed". Chase didn't charge me anything but banned that account for auto-payment. But this was before due date, if you miss due date yes you'll be definitely charged.
My investment algorithm: https://www.bogleheads.org/forum/viewtopic.php?f=10&t=351899&p=6112869#p6112869
Marseille07
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Re: Interactive Brokers (Best Kept Secret)

Post by Marseille07 »

klaus14 wrote: Sat Sep 04, 2021 11:55 am IBKR once rejected my CC payments. I inquired and they said "due to a technical problem now fixed". Chase didn't charge me anything but banned that account for auto-payment. But this was before due date, if you miss due date yes you'll be definitely charged.
I was never late to pay Chase but my payment has bounced before when Citi decided to block ACH debits without saying anything. I was charged some fee, which showed up on the next statement.

I need to think through this if I primarily want to use IBKR. I don't think I need checkwriting much, so IBKR seems quite viable.
bling
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Re: Interactive Brokers (Best Kept Secret)

Post by bling »

Marseille07 wrote: Sat Sep 04, 2021 12:12 pm
klaus14 wrote: Sat Sep 04, 2021 11:55 am IBKR once rejected my CC payments. I inquired and they said "due to a technical problem now fixed". Chase didn't charge me anything but banned that account for auto-payment. But this was before due date, if you miss due date yes you'll be definitely charged.
I was never late to pay Chase but my payment has bounced before when Citi decided to block ACH debits without saying anything. I was charged some fee, which showed up on the next statement.

I need to think through this if I primarily want to use IBKR. I don't think I need checkwriting much, so IBKR seems quite viable.
not really sure what the draw is with using IBKR (or any other place) as a one-stop-shop. the fact that you use credit cards from other companies (as you should) means you're going to have multiple logins/accounts with different institutions.

the case can be made for fidelity, because their 2% cashback credit card is actually competitive for people who don't want to play the points game. schwab has the amex card if you're into premium cards. boa/merrill gets you premium rewards.

IBKR is honestly lackluster compared to everyone else. the only reason why i keep any significant amount of money there is because their margin rates are unbeatable.
Marseille07
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Re: Interactive Brokers (Best Kept Secret)

Post by Marseille07 »

bling wrote: Sat Sep 04, 2021 5:55 pm not really sure what the draw is with using IBKR (or any other place) as a one-stop-shop. the fact that you use credit cards from other companies (as you should) means you're going to have multiple logins/accounts with different institutions.

the case can be made for fidelity, because their 2% cashback credit card is actually competitive for people who don't want to play the points game. schwab has the amex card if you're into premium cards. boa/merrill gets you premium rewards.

IBKR is honestly lackluster compared to everyone else. the only reason why i keep any significant amount of money there is because their margin rates are unbeatable.
Perhaps one-stop shop isn't entirely accurate, but I'm exploring if I can use IBKR as my primary shop. Of course, checkwriting has to be done elsewhere and I haven't confirmed if CCs can pull from IBKR without issues.

I like IBKR's ATM set up abroad. I'm with Ally but I believe they charge 1% FTF.
bling
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Re: Interactive Brokers (Best Kept Secret)

Post by bling »

Marseille07 wrote: Sat Sep 04, 2021 6:07 pm I like IBKR's ATM set up abroad. I'm with Ally but I believe they charge 1% FTF.
not sure what's good about it? with IBKR, you have to pay 50 cents per transaction and fees from the other bank are not reimbursed. schwab's debit card is free, will reimburse worldwide, and has no FTF.
Marseille07
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Re: Interactive Brokers (Best Kept Secret)

Post by Marseille07 »

bling wrote: Sat Sep 04, 2021 6:16 pm
Marseille07 wrote: Sat Sep 04, 2021 6:07 pm I like IBKR's ATM set up abroad. I'm with Ally but I believe they charge 1% FTF.
not sure what's good about it? with IBKR, you have to pay 50 cents per transaction and fees from the other bank are not reimbursed. schwab's debit card is free, will reimburse worldwide, and has no FTF.
Hmm that sounds better than IBKR. Can I instantly transfer money between Schwab Brokerage and Schwab Bank?
klaus14
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Re: Interactive Brokers (Best Kept Secret)

Post by klaus14 »

Marseille07 wrote: Sat Sep 04, 2021 6:20 pm
bling wrote: Sat Sep 04, 2021 6:16 pm
Marseille07 wrote: Sat Sep 04, 2021 6:07 pm I like IBKR's ATM set up abroad. I'm with Ally but I believe they charge 1% FTF.
not sure what's good about it? with IBKR, you have to pay 50 cents per transaction and fees from the other bank are not reimbursed. schwab's debit card is free, will reimburse worldwide, and has no FTF.
Hmm that sounds better than IBKR. Can I instantly transfer money between Schwab Brokerage and Schwab Bank?
Yes
My investment algorithm: https://www.bogleheads.org/forum/viewtopic.php?f=10&t=351899&p=6112869#p6112869
Marseille07
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Re: Interactive Brokers (Best Kept Secret)

Post by Marseille07 »

klaus14 wrote: Sat Sep 04, 2021 6:49 pm
Marseille07 wrote: Sat Sep 04, 2021 6:20 pm Hmm that sounds better than IBKR. Can I instantly transfer money between Schwab Brokerage and Schwab Bank?
Yes
Thanks. I'll look into this when my TDA becomes a Schwab account.
rchmx1
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Re: Interactive Brokers (Best Kept Secret)

Post by rchmx1 »

Ya, I like my Schwab/IBKR combo too much to ever go one stop shop. It's a dream combination if you're an expat. I keep my EF in my Schwab bank account, and would use their debit card while traveling in that mythical long distant past when there wasn't a pandemic ravaging the planet. And IBKR is phenomenal as a way to transfer money down here, and their margin offering just has so much utility for a person in my situation. I'm sure there are better options for people in different situations, but for an expat the combo is just so damn good.
Marseille07
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Re: Interactive Brokers (Best Kept Secret)

Post by Marseille07 »

Can we register IBKR's CMA routing / account number just like a regular checking account at the bank? The reason I'm asking is, when I'm setting up ACH debits for housing payment and stuff like that, they usually ask if it is a checking account or a savings account, but CMA isn't one of the options listed. I *think* the answer is yes, but want to be extra cautious because if something goes wrong I'm likely paying the penalty.
tj
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Re: Interactive Brokers (Best Kept Secret)

Post by tj »

Marseille07 wrote: Sat Sep 04, 2021 9:31 pm Can we register IBKR's CMA routing / account number just like a regular checking account at the bank? The reason I'm asking is, when I'm setting up ACH debits for housing payment and stuff like that, they usually ask if it is a checking account or a savings account, but CMA isn't one of the options listed. I *think* the answer is yes, but want to be extra cautious because if something goes wrong I'm likely paying the penalty.
Why would use IBKR for those types of debits? Just use a bank account.
Marseille07
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Re: Interactive Brokers (Best Kept Secret)

Post by Marseille07 »

tj wrote: Sat Sep 04, 2021 10:14 pm
Marseille07 wrote: Sat Sep 04, 2021 9:31 pm Can we register IBKR's CMA routing / account number just like a regular checking account at the bank? The reason I'm asking is, when I'm setting up ACH debits for housing payment and stuff like that, they usually ask if it is a checking account or a savings account, but CMA isn't one of the options listed. I *think* the answer is yes, but want to be extra cautious because if something goes wrong I'm likely paying the penalty.
Why would use IBKR for those types of debits? Just use a bank account.
So that I can consolidate accounts as much as possible. It's kind of like the idea of using Fidelity as a one-stop shop. IBKR won't completely become a one-stop shop but we can get closer.
rchmx1
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Re: Interactive Brokers (Best Kept Secret)

Post by rchmx1 »

Marseille07 wrote: Sat Sep 04, 2021 9:31 pm Can we register IBKR's CMA routing / account number just like a regular checking account at the bank? The reason I'm asking is, when I'm setting up ACH debits for housing payment and stuff like that, they usually ask if it is a checking account or a savings account, but CMA isn't one of the options listed. I *think* the answer is yes, but want to be extra cautious because if something goes wrong I'm likely paying the penalty.
I wonder if that information is available on one of the instruction pages when you go to link a new account to your IBKR account? Unfortunately I've only done it the opposite way, setting up other accounts to deposit into my IBKR account. I've set up bill pay with my BoA account to deposit funds into my IBKR account, and set up my Payoneer account to deposit funds into my IBKR account just like it's a normal bank account. So it seems like it should work the same in reverse, but I just don't have experience with that.
mberon
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Re: Interactive Brokers (Best Kept Secret)

Post by mberon »

rchmx1 wrote: Wed Sep 01, 2021 1:58 am
mberon wrote: Tue Aug 31, 2021 8:56 pm Hi,

I'd like to know how the Cash Withdrawal is calculated , I thought that it was Equity with Loan Value - Current Initial Margin, but after looking at that this Cash Withdrawal amount in IB is 11272 €, I don't know how it's calculated.

I attach a screenshot with values of my account, according the formula that I thought that it was, it'd be: Cash Withdrawal = Equity with Loan Value - Current Initial Margin = 129344,79 - 87864,65 = 41480,14 €, but as I say, it's not like that:

Image

Could you help me?.

Thanks.
Have you made a deposit within around a week which at least partially brought your "current available funds" up to that 41480?

Also, something you should do is check the "Other Reports," and select "Margin." There you'll find info on the margin requirements of the individual assets you hold, which can impact how much you can withdraw on margin.

Honestly, I just went through this and still don't understand completely how that number is calculated. I was wanting to use a healthy percentage of my margin (a first time intention) to finance a car purchase. I believe that the seeming discrepancy I experienced was due to a misunderstanding I had with how quickly funds deposited via outside bill pay become available for all purposes. While they immediately effect things like what is listed as your excess liquidity, maintenance margin, available funds, excess liquidity, etc, my Cash Withdrawal wasn't updated for a week. 7 calendar days in this instance.

If that doesn't apply to you, I imagine the answer (or at least part of it) will be found in your Margin Report.
Hi, I didn't make any deposit since 2020.

I called to IBRK customer call center, but the guy didn't answer to how this "Cash Withdrawal" is calculated.. he told me that there's no a unique formula like I said (equity with loan value - initial margin, as I thought before), so I don't know..

I've checked a lot of IB's reports, the number is shown, but it's impossible to know how is calculated.. I borrow $ , because my account is in €, but with the reports data it's impossible to know where this number comes from.. it's incredible, so bad assistance.

I don't know also which stocks I've got occupy more margin because some reports say a thing, and others say another one.. A lot of confusion.
klaus14
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Re: Interactive Brokers (Best Kept Secret)

Post by klaus14 »

Marseille07 wrote: Sat Sep 04, 2021 9:31 pm Can we register IBKR's CMA routing / account number just like a regular checking account at the bank? The reason I'm asking is, when I'm setting up ACH debits for housing payment and stuff like that, they usually ask if it is a checking account or a savings account, but CMA isn't one of the options listed. I *think* the answer is yes, but want to be extra cautious because if something goes wrong I'm likely paying the penalty.
yes i linked it to schwab bank. and chase cc payments.
My investment algorithm: https://www.bogleheads.org/forum/viewtopic.php?f=10&t=351899&p=6112869#p6112869
Marseille07
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Re: Interactive Brokers (Best Kept Secret)

Post by Marseille07 »

rchmx1 wrote: Sun Sep 05, 2021 1:19 am
Marseille07 wrote: Sat Sep 04, 2021 9:31 pm Can we register IBKR's CMA routing / account number just like a regular checking account at the bank? The reason I'm asking is, when I'm setting up ACH debits for housing payment and stuff like that, they usually ask if it is a checking account or a savings account, but CMA isn't one of the options listed. I *think* the answer is yes, but want to be extra cautious because if something goes wrong I'm likely paying the penalty.
I wonder if that information is available on one of the instruction pages when you go to link a new account to your IBKR account? Unfortunately I've only done it the opposite way, setting up other accounts to deposit into my IBKR account. I've set up bill pay with my BoA account to deposit funds into my IBKR account, and set up my Payoneer account to deposit funds into my IBKR account just like it's a normal bank account. So it seems like it should work the same in reverse, but I just don't have experience with that.
Thank you. I'll play with my CC payments this month and see how it goes. At this point I probably won't consider a permanent switch to BillPay out of IBKR, just testing the feasibility of this approach.
Marseille07
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Re: Interactive Brokers (Best Kept Secret)

Post by Marseille07 »

klaus14 wrote: Sun Sep 05, 2021 3:32 am
Marseille07 wrote: Sat Sep 04, 2021 9:31 pm Can we register IBKR's CMA routing / account number just like a regular checking account at the bank? The reason I'm asking is, when I'm setting up ACH debits for housing payment and stuff like that, they usually ask if it is a checking account or a savings account, but CMA isn't one of the options listed. I *think* the answer is yes, but want to be extra cautious because if something goes wrong I'm likely paying the penalty.
yes i linked it to schwab bank. and chase cc payments.
This is good to know, thanks! I'll try with my CCs.
AllomancerJack
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Re: Interactive Brokers (Best Kept Secret)

Post by AllomancerJack »

What trade permission do I need to trade futures on ECBOT?
I applied for "Futures" -> "United States" and it becomes marked as green, but I still can't trade.
Rob Bertram
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Re: Interactive Brokers (Best Kept Secret)

Post by Rob Bertram »

AllomancerJack wrote: Tue Sep 07, 2021 10:54 am What trade permission do I need to trade futures on ECBOT?
I applied for "Futures" -> "United States" and it becomes marked as green, but I still can't trade.
I suspect that you need to wait for it to be approved. https://www.interactivebrokers.com/en/index.php?f=43700
IB wrote:If you do not already have Futures trading permission, log in to Client Portal and request Futures trading permission via the Settings > Account Settings > Trading Experience & Permissions menu item. Trading permission requests are typically approved overnight.
AllomancerJack
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Re: Interactive Brokers (Best Kept Secret)

Post by AllomancerJack »

Rob Bertram wrote: Tue Sep 07, 2021 1:54 pm
AllomancerJack wrote: Tue Sep 07, 2021 10:54 am What trade permission do I need to trade futures on ECBOT?
I applied for "Futures" -> "United States" and it becomes marked as green, but I still can't trade.
I suspect that you need to wait for it to be approved. https://www.interactivebrokers.com/en/index.php?f=43700
IB wrote:If you do not already have Futures trading permission, log in to Client Portal and request Futures trading permission via the Settings > Account Settings > Trading Experience & Permissions menu item. Trading permission requests are typically approved overnight.
Thanks, you are right, I just had to wait. IBKR interface gives no hints on whether permission is pending or not, but now it seems to work.

I have another question though :) I have a Cash account and as I understand, it still should be possible to trade futures with overnight margin requirements https://www.interactivebrokers.co.uk/en ... =acctypes3
Futures day trading benefits are not supported. (50% of regular margin requirements during the day, on certain exchanges). Margin is determined on a real-time basis with immediate position liquidation if the minimum margin requirement is not met. Only cash may be used to meet variation margin requirements.
Here is preview of market-buy-order for one ZF contract:

Image

Am I understand it correctly that:
  1. Opening this contract will require $1k (Initial Margin) as collateral and (as I don't have enough cash) it would be rejected (or closed immediately after execution)
  2. Decrease in ELV is likely due to Ask/Bid spread
?
corp_sharecropper
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Re: Interactive Brokers (Best Kept Secret)

Post by corp_sharecropper »

Marseille07 wrote: Sat Sep 04, 2021 9:31 pm Can we register IBKR's CMA routing / account number just like a regular checking account at the bank? The reason I'm asking is, when I'm setting up ACH debits for housing payment and stuff like that, they usually ask if it is a checking account or a savings account, but CMA isn't one of the options listed. I *think* the answer is yes, but want to be extra cautious because if something goes wrong I'm likely paying the penalty.
I have a portion of my paycheck direct deposited into my IB account. In that sense it is just like a regular checking account. I also transfer some Chase cash back rewards to IB, as well as numerous ACH transfers from USAA and Fidelity to my IB account.
MotoTrojan
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Re: Interactive Brokers (Best Kept Secret)

Post by MotoTrojan »

Marseille07 wrote: Fri Sep 03, 2021 7:51 pm Anyone using IBKR as their one-stop shop? Seems like they have most of what we need: software-token 2FA, ATM / debit, brokerage, CMA, BillPay and wire.
Fidelity has been my one-stop-shop for quite some time but I just opened an account with IBKR and plan that to be my sole taxable account (using margin to lever portfolio). Given that Fidelity has been great to work with, and my HSA is with them, I'll stick with it. Probably safer not to have a debit card tied to my margin account anyway :twisted:.
MotoTrojan
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Re: Interactive Brokers (Best Kept Secret)

Post by MotoTrojan »

bling wrote: Sat Sep 04, 2021 6:16 pm
Marseille07 wrote: Sat Sep 04, 2021 6:07 pm I like IBKR's ATM set up abroad. I'm with Ally but I believe they charge 1% FTF.
not sure what's good about it? with IBKR, you have to pay 50 cents per transaction and fees from the other bank are not reimbursed. schwab's debit card is free, will reimburse worldwide, and has no FTF.
Fidelity also is free including worldwide reimbursement I believe (worked for me in Mexico at-least).
Marseille07
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Re: Interactive Brokers (Best Kept Secret)

Post by Marseille07 »

MotoTrojan wrote: Tue Sep 07, 2021 7:16 pm
Marseille07 wrote: Fri Sep 03, 2021 7:51 pm Anyone using IBKR as their one-stop shop? Seems like they have most of what we need: software-token 2FA, ATM / debit, brokerage, CMA, BillPay and wire.
Fidelity has been my one-stop-shop for quite some time but I just opened an account with IBKR and plan that to be my sole taxable account (using margin to lever portfolio). Given that Fidelity has been great to work with, and my HSA is with them, I'll stick with it. Probably safer not to have a debit card tied to my margin account anyway :twisted:.
I've started shifting toward IBKR, but I'll have two hubs - Ally and IBKR. I'm linking with IBKR wherever I can, without going too far (like moving salary DD). ATM is on IBKR now, I don't really worry about the fee as the last time I withdrew cash is more than a year ago.
Marseille07
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Re: Interactive Brokers (Best Kept Secret)

Post by Marseille07 »

Does anyone know how to turn off IBKR's mobile notifications? I tried looking around but couldn't find it.

I get notified about pretty much everything, like micro deposits to set up ACH. I want to turn them off if possible.

UPDATE: I modified the SMS address field to my email address. It was blank previously but there was some text as to how they automatically determine my SMS address based on my mobile number blah blah. Hopefully this would stop their SMS on my mobile and go to my mailbox instead.
Marseille07
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Re: Interactive Brokers (Best Kept Secret)

Post by Marseille07 »

I scheduled a CC payment out of IBKR. I think it'll go through but if not, I likely have to pay a penalty.

I'll check my balance at the ATM when I have cash and an equity position in the same account. I expect to see the amount of settled cash.
klaus14
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Re: Interactive Brokers (Best Kept Secret)

Post by klaus14 »

Marseille07 wrote: Wed Sep 08, 2021 10:39 pm I scheduled a CC payment out of IBKR. I think it'll go through but if not, I likely have to pay a penalty.

I'll check my balance at the ATM when I have cash and an equity position in the same account. I expect to see the amount of settled cash.
if it is over $1000 you need to approve it in mobile app. They send you a SMS for it.
My investment algorithm: https://www.bogleheads.org/forum/viewtopic.php?f=10&t=351899&p=6112869#p6112869
Marseille07
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Re: Interactive Brokers (Best Kept Secret)

Post by Marseille07 »

klaus14 wrote: Thu Sep 09, 2021 4:56 am
Marseille07 wrote: Wed Sep 08, 2021 10:39 pm I scheduled a CC payment out of IBKR. I think it'll go through but if not, I likely have to pay a penalty.

I'll check my balance at the ATM when I have cash and an equity position in the same account. I expect to see the amount of settled cash.
if it is over $1000 you need to approve it in mobile app. They send you a SMS for it.
For this month it was well under $1000 on this particular card.

So the flow right now is Cap1 is going to make an ACH request to pull money from IBKR. IBKR will somehow ping me about it based on the amount?

I've received notifications where they ask me to deny a transaction, or else it would go through (i.e. no action needed if I just want the transaction to happen). If I have to approve every time above $1000, that's not terribly convenient...
klaus14
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Re: Interactive Brokers (Best Kept Secret)

Post by klaus14 »

Marseille07 wrote: Thu Sep 09, 2021 8:33 am So the flow right now is Cap1 is going to make an ACH request to pull money from IBKR. IBKR will somehow ping me about it based on the amount?

I've received notifications where they ask me to deny a transaction, or else it would go through (i.e. no action needed if I just want the transaction to happen). If I have to approve every time above $1000, that's not terribly convenient...
correct.
My investment algorithm: https://www.bogleheads.org/forum/viewtopic.php?f=10&t=351899&p=6112869#p6112869
Marseille07
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Re: Interactive Brokers (Best Kept Secret)

Post by Marseille07 »

klaus14 wrote: Thu Sep 09, 2021 9:34 am
Marseille07 wrote: Thu Sep 09, 2021 8:33 am So the flow right now is Cap1 is going to make an ACH request to pull money from IBKR. IBKR will somehow ping me about it based on the amount?

I've received notifications where they ask me to deny a transaction, or else it would go through (i.e. no action needed if I just want the transaction to happen). If I have to approve every time above $1000, that's not terribly convenient...
correct.
I see. Well, right now I'm just trying it once and setting up a connection from the CC side as my plan B. My primary account payable will remain at Ally.
mberon
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Re: Interactive Brokers (Best Kept Secret)

Post by mberon »

mberon wrote: Sun Sep 05, 2021 3:05 am
rchmx1 wrote: Wed Sep 01, 2021 1:58 am
mberon wrote: Tue Aug 31, 2021 8:56 pm Hi,

I'd like to know how the Cash Withdrawal is calculated , I thought that it was Equity with Loan Value - Current Initial Margin, but after looking at that this Cash Withdrawal amount in IB is 11272 €, I don't know how it's calculated.

I attach a screenshot with values of my account, according the formula that I thought that it was, it'd be: Cash Withdrawal = Equity with Loan Value - Current Initial Margin = 129344,79 - 87864,65 = 41480,14 €, but as I say, it's not like that:

Image

Could you help me?.

Thanks.
Have you made a deposit within around a week which at least partially brought your "current available funds" up to that 41480?

Also, something you should do is check the "Other Reports," and select "Margin." There you'll find info on the margin requirements of the individual assets you hold, which can impact how much you can withdraw on margin.

Honestly, I just went through this and still don't understand completely how that number is calculated. I was wanting to use a healthy percentage of my margin (a first time intention) to finance a car purchase. I believe that the seeming discrepancy I experienced was due to a misunderstanding I had with how quickly funds deposited via outside bill pay become available for all purposes. While they immediately effect things like what is listed as your excess liquidity, maintenance margin, available funds, excess liquidity, etc, my Cash Withdrawal wasn't updated for a week. 7 calendar days in this instance.

If that doesn't apply to you, I imagine the answer (or at least part of it) will be found in your Margin Report.
Hi, I didn't make any deposit since 2020.

I called to IBRK customer call center, but the guy didn't answer to how this "Cash Withdrawal" is calculated.. he told me that there's no a unique formula like I said (equity with loan value - initial margin, as I thought before), so I don't know..

I've checked a lot of IB's reports, the number is shown, but it's impossible to know how is calculated.. I borrow $ , because my account is in €, but with the reports data it's impossible to know where this number comes from.. it's incredible, so bad assistance.

I don't know also which stocks I've got occupy more margin because some reports say a thing, and others say another one.. A lot of confusion.
Hi,

I've questioned about how the Cash Withdrawal is calculated, by E-mail, to IB, and no answer, again, it's incredible..

They only say that I'm in Europe, blablabla, but no answer (I think they actually don't it how the Cash Withdrawal amount is calculated).

I attach 2 screenshots from the day that I sent the message, on September 9th, if anybody could know how Cash Withdrawal is calculated, it'd be great.

Image
Image
Image
saver007
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Re: Interactive Brokers (Best Kept Secret)

Post by saver007 »

Mberon, what is your net cash balance in Euro equivalent? Sounds like this is the amount you can withdraw .. for example, let's say you have -100 usd and +150 EUR , you have net + 65 EUR.

It appears Ireland regulations only allow borrowed money to be used to buy more collateral (stocks) ... Does not allow withdrawal of borrowed funds..
BalancedJCB19
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Re: Interactive Brokers (Best Kept Secret)

Post by BalancedJCB19 »

Not sure how they can help me. I own one Fund (The Vanguard Balanced Index Fund). lol. Never bought a single stock or made a trade in my life.
mberon
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Re: Interactive Brokers (Best Kept Secret)

Post by mberon »

saver007 wrote: Thu Sep 09, 2021 10:17 pm Mberon, what is your net cash balance in Euro equivalent? Sounds like this is the amount you can withdraw .. for example, let's say you have -100 usd and +150 EUR , you have net + 65 EUR.

It appears Ireland regulations only allow borrowed money to be used to buy more collateral (stocks) ... Does not allow withdrawal of borrowed funds..
In the screenshot I attached , these are some amounts (all amounts are in €, euros), for example:

Image
Cash -257149.85 euros , Current Available Funds 41480.14 euros , and Buying Power 276534.26 euros

---

They don't know how it's calculated this amount, it's incredible, next thing I'm going to do is to ask this question in its IB forum.

This is his answer, service is so unefficient, they don't know. :?

Image

https://ibkr.info/article/971
Image
https://ibkr.info/article/2186
Image
professor_americus
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Re: Interactive Brokers (Best Kept Secret)

Post by professor_americus »

I'm testing the waters at IBKR. Mainly interested in keeping taxable brokerage there for "emergency / bridge loan" margin access, if ever needed.

I'm not really interested in using the TWS interface. Prefer to keep it basic in the Client Portal web interface. Basic portfolio with no complex trading.

Can folks comment on the ability to monitor margin status and manage alerts related to margin status?

I see one can generate a margin report as follows: Reports > Queries > Other > Margin.

Is there anything better, like a widget / status tracker or customizable alerts? Are these only accessible via TWS?

Thanks in advance for sharing your experience.
skierincolorado
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Re: Interactive Brokers (Best Kept Secret)

Post by skierincolorado »

professor_americus wrote: Fri Sep 10, 2021 4:21 pm I'm testing the waters at IBKR. Mainly interested in keeping taxable brokerage there for "emergency / bridge loan" margin access, if ever needed.

I'm not really interested in using the TWS interface. Prefer to keep it basic in the Client Portal web interface. Basic portfolio with no complex trading.

Can folks comment on the ability to monitor margin status and manage alerts related to margin status?

I see one can generate a margin report as follows: Reports > Queries > Other > Margin.

Is there anything better, like a widget / status tracker or customizable alerts? Are these only accessible via TWS?

Thanks in advance for sharing your experience.
The plus sign when in your portfolio tells you your excess liquidity
saver007
Posts: 236
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Re: Interactive Brokers (Best Kept Secret)

Post by saver007 »

professor_americus wrote: Fri Sep 10, 2021 4:21 pm I'm testing the waters at IBKR. Mainly interested in keeping taxable brokerage there for "emergency / bridge loan" margin access, if ever needed.

I'm not really interested in using the TWS interface. Prefer to keep it basic in the Client Portal web interface. Basic portfolio with no complex trading.

Can folks comment on the ability to monitor margin status and manage alerts related to margin status?

I see one can generate a margin report as follows: Reports > Queries > Other > Margin.

Is there anything better, like a widget / status tracker or customizable alerts? Are these only accessible via TWS?

Thanks in advance for sharing your experience.
Yes on my IBKR Android App, the Portfolio tab/page shows the real time Net Liquidation Value ("NetLiq") and Maintenance Margin requirement ("MntMgn") right on the top.. just need to watch these 2 variables for margin compliance .. Net Liquidation Value need to be greater than Maintenance margin or else IB will start liquidation... Ideally Net Liquidation Value should be multiples of the Maintenance Margin requirement.
IBKR App is pretty simple to use.
saver007
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Re: Interactive Brokers (Best Kept Secret)

Post by saver007 »

mberon wrote: Fri Sep 10, 2021 3:57 am

In the screenshot I attached , these are some amounts (all amounts are in €, euros), for example:

Image
Cash -257149.85 euros , Current Available Funds 41480.14 euros , and Buying Power 276534.26 euros

---
[H4L1mNj/2021
Check your Daily Activity Statement , Cash Report section should show individual currency balances. most likely ~12k withdrawal Euro is your credit Euro balance...-257k EUR shown in your screenshot must be the net cash balance ..
sociableorg
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Re: Interactive Brokers (Best Kept Secret)

Post by sociableorg »

Can someone confirm how long it takes for ACH push from a US bank (USAA) to IBKR checking? AFAIU the quickest way to transfer from a US bank to a US based IBKR account is wire transfer ($$ surcharge apply). Next fastest way is free bill pay initiated by the source bank (if it support electronic bill pay). Third fastest is free ACH push from bank towards IBKR. Is this understanding right?
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whodidntante
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Re: Interactive Brokers (Best Kept Secret)

Post by whodidntante »

sociableorg wrote: Mon Sep 13, 2021 6:36 am Can someone confirm how long it takes for ACH push from a US bank (USAA) to IBKR checking? AFAIU the quickest way to transfer from a US bank to a US based IBKR account is wire transfer ($$ surcharge apply). Next fastest way is free bill pay initiated by the source bank (if it support electronic bill pay). Third fastest is free ACH push from bank towards IBKR. Is this understanding right?
Just have to test IMO. Bill pay to IB behind the scenes is likely done with ACH, but even that doesn't mean it will take the same amount of time as a direct ACH direct deposit.
sociableorg
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Re: Interactive Brokers (Best Kept Secret)

Post by sociableorg »

Thanks. Bill pay via electronic means is not available with USAA, so I am going to try the ACH push from USAA (after linking the accounts).
Marseille07
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Re: Interactive Brokers (Best Kept Secret)

Post by Marseille07 »

klaus14 wrote: Thu Sep 09, 2021 4:56 am
Marseille07 wrote: Wed Sep 08, 2021 10:39 pm I scheduled a CC payment out of IBKR. I think it'll go through but if not, I likely have to pay a penalty.

I'll check my balance at the ATM when I have cash and an equity position in the same account. I expect to see the amount of settled cash.
if it is over $1000 you need to approve it in mobile app. They send you a SMS for it.
This thing is extremely confusing.

In "Transaction Status & History," I see "Your Direct Debit withdrawal of USD XXX has been sent and should arrive at your bank shortly."

However, I just received an SMS saying "Use IBKR mobile to authorize by XYZ or it will be rejected." I open the app, I don't see anything obvious how to authorize this transaction.
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