Interactive Brokers Account Setup & Tutorial | Ireland, UK & Europe
Вставка
- Опубліковано 14 лип 2024
- In this video we talk about Interactive Brokers (IBKR): the pros & cons of the platform, the fees, and how to set up an IBKR account as an Irish, UK or European investor. Use the timestamps below to jump to the sections you're most interested in, or stick around to get a full overview of the Interactive Brokers platform!
⚠️ UPDATE 8 JULY 2021 - IBKR no longer charge the $10/$20 Account Fee 🥳
💰 Open an Interactive Brokers Account | bit.ly/IBKR-TheLearningsReport
👉 Subscribe to the channel: bit.ly/3fFal32
💡 Interactive Brokers Review:
00:00 1️⃣ Intro
01:16 2️⃣ Pros & Cons of IBKR
03:03 3️⃣ IBKR Costs & Fees
05:53 4️⃣ Account Setup (Step By Step)
13:42 5️⃣ Funding Your Account
19:06 6️⃣ Client Portal Walkthrough
22:30 7️⃣ How To Make a Trade
24:50 8️⃣ Bloopers 💩
🔗 Useful Resources:
Interactive Brokers Fee Overview www.interactivebrokers.com/en...
IBKR Account Withdrawal Fees www.interactivebrokers.com/en...
🍿 Other Videos You Might Like:
Best Stock Brokers in Ireland | • Best Stock Brokers Ire...
Capital Gains Tax Ireland | • Capital Gains Tax Irel...
Step by Step Qualitative Stock Analysis | • How To Pick Great Stoc...
Step by Step Quantitative Stock Analysis | • Step By Step Quantitat...
♪ We're on TikTok
/ thelearningsreport
🎥 Video Production
Vidi.ie | bit.ly/Vidi-Productions
Graphics by Canva | bit.ly/Canva-30day-Free-Trial
📌 Topics
#InteractiveBrokers #IBKR #investing
🎵 Music
www.bensound.com/royalty-free...
👉 Open an IBKR Account - Get up to $1000 of Free IBKR Shares | bit.ly/IBKR-TheLearningsReport
⚠️ *UPDATE* *8* *JULY* *2021* - IBKR no longer charge the $10/$20 Account Fee 🥳
Note: Certain users have reported being prompted about selecting that they have at least $10k-20k liquid net worth in order to trade stocks on IBKR. No idea why they ask this (as they also say no minimum deposit is needed) but all we'd say is that, if it were us, we would simply select whatever options allows you to proceed to the next screen :)
Questions or feedback on the IBKR account setup? Hit us up below!
Is this referrer code for IBKR IRE?
Excellent work man , great review this is what i was looking for , Ill use the link for sure when open my ibkr account , many thanks !
No problem, Santiago - and appreciate the offer of using the link! Best of luck with the investing and thanks for watching.
- Ste
Cheers man! One of the best videos I found on IBKR!
Thanks a million for watching, P R, glad you liked it!
- Cian
@@TheLearningsReport Also, can we deduct wire/brokerage fees from profits before filing CGT?
@@pranjal7293 Our understanding is that your trading fees are deductible in the sense that you would add them to your cost basis. So, if you pay a €1 trading fee, for a stock that cost you €10, your taxable cost basis would be €11.
To the best of our knowledge. wire transfer fees would not be deductible as they're not directly related to the specific asset you're trading (it's just a general fee).
This was so informative thank you!!
Your videos are so useful! Super clear and well explained. Keep it up lads!
Sir Lambo, you are a gentleman - appreciate the support!
Thank you for the detailed video...👍
No worries, Saleh, thanks for watching!
Very helpful lads thanks
Great Video!
Thanks, Gustavo, glad you enjoyed it!
- Cian
Hello Ste again, can I ask please, does the trading fee work also on ETFs of funds like S&P500 etc.? and does that mean that ever single time I buy, I get charged this fee? Even if I have set up monthly/weekly payments to keep continuosly investing? - Thtanks for the helpful videos!
BONJOUR,
MERCI POUR VOS TUTOS. SI VOUS PERMETTEZ, J’AI UNE PETIT QUESTION.
POUR ACTIVER EN TEMPS REEL , LES ACTIONS DU DOW JONES , NASDAQ AINSI QUE LES OPTIONS LIES A CES ACTIONS , FAUT-IL QUE JE SOUSCRIVE A :
US EQUITY AND OPTIONS ADD-ON TREAMING BUNDLE ?
Hi guys, good video. Not sure if it was mentioned but be very careful with IB. I've been looking at ETFs like VWRA and VUSA. Both are actually dividend distribution unless you convert to GBP. If for example you put 10k in VUSA Aeb it will be distributed dividend. VUSA lseetf is acc dividend. Here's the catch, DRIP is not available to IB EU customers. Therefore you cannot reinvest your dividends. This function is only available to IB LLC, IB Can, and UK. It's a nasty little trap. Personally I'd rather my dividends be reinvested and compounded, rather than just distributed.
Hey Richard, sorry for the late reply on this. I saw your message originally, went to check the info, and then totally forgot to circle back!
This is very interesting. I'm assuming things changed once the brexit legislation went through? I can't confirm for definite (as it's no longer visible) but I almost certainly was able to turn 'dividend reinvestment' on when I first created my IBKR account 🤔
How did you realise this was an issue? Did you speak to IBKR or did you look through the terms? Would love if you could link the reference material if you have some as I'm hitting some dead ends on my side.
Similar to yourself, I also would absolutely prefer dividends to be reinvested - so I appreciate you putting this on my radar.
Cheers for the heads up and for watching!
- Ste
Which broker allows compound interest on the ETFs?
Excellent content as usual! I am so glad I found this channel.
After doing my research on the different brokers, I have a query regarding the The Deposit Guarantee Scheme (DGS). I found that IB or DeGiro adhere to this schema that will compensate losses up to 20K€ in case of insolvency. Isn't this a relatively low number for long-term investments which can grow in the future? For example, does someone investing 300K€ should be worried about this? I understand that this scenario (insolvency) may be really unlikely, but is still something I would like to know. I may not be understanding correctly in which scenario DSG may come into effect.
Thank you!
Hey Davy, really appreciate that, thank you! So the caveat here, as always, is our research is just as good as the next person's so take this with a pinch of salt. However, here's how we understand it:
- The €20,000 investor compensation scheme is essentially the last line of defence for an investor if it comes down to outright fraud
- Most brokers should hold your shares under a separate entity, thus these shares should be safe even in the case of broker insolvency i.e. you will be able to transfer those shares or still get the cash equivalent
- However, the way I understand it, is that these separate entities are still technically controlled by the broker in question, so if they did decide to commit outright fraud and redirect your shares/funds to a private entity they essentially can.
- It's in this last scenario where the €20k scheme would come into play - but again, not much of a help if your portfolio is substantially larger than that amount.
In summary, a reliable broker with a good track record (such as IBKR, Degiro, etc.) is usually a good place to start. Hope that helps!
- Ste
Hi guys, is it possible to set up a monthly standing order to the account from say AIB to make depositing funds easier and automatic? Also, I assume the interactive brokers accounts aren't classed as international transfers so there should be no fees on that front?
Hi, i keep getting You do not have permissions to trade this contract. You can request permissions in account settings. i have stock permission but my money has not gone into my account yet i just wanted to test a buy order is thus why i get this message? because i have no money in my account yet? or is there other permissions i need to enable?
Heya Danzo. When you say contract, are you referring to options? In order to be approved for options you'll need to take a 'test' to enable permissions to show that you understand what you're trading. But in short, yes, you'll likely need to enable this through your account settings.
Futures, bonds, FX etc. all need to be activated also (again, after answering some questions) 👍
- Ste
im confused about PDT. I live in Cyprus(EU) and opened an account IB pro account and going to link Das trader pro so i can day trade only US StOCKS (i chose currency USD)and make multiple trades per day.Does the PDT rule apply for me ???
Hey - So in short, you'll need to check the Ts&Cs of the branch of IBKR that you opened your account with.
My account is with Interactive Brokers Ireland (IBIE), and according to the terms when my account was migrated away from IBUK, I DON'T have to adhere to the PDT restrictions. Quote:
"Accounts maintained with IBUK are subject to the U.S. Pattern Day Trading (PDT) rule as the accounts are introduced to and carried by IBLLC, a U.S. broker. The PDT rules restricts accounts with equity below USD 25,000 to no more than 3 Day Trades within any 5-business day period. As accounts migrated to IBIE will not be introduced to IBLLC, they will NOT be subject to the PDT rule."
The title of the webpage with these FAQs is "FAQS: IBIE Brexit Account Migration", so I would simply replace 'IBIE' with your relevant account branch, and hopefully you can confirm whether the rules apply to you in Cyrpus or not!
Hey guys, so with the tiered plan, if I was to buy 300 shares of Ford at $14 ($4200 total) it would be 300x0.0035= $1.05 in commission? Also if I was to sell it at $15 ($300 profit $4500 total) would I have to pay the commission again at $1.05? Mainly trying to figure out what my takeaway would be $2497.90?
With just $2 currency conversion fee in IB there is no need to ever deposit currency other than your base one and then convert... Also the trading fees structure is much more complicated than what you've presented here. Other than that thank you for all the info.
I was able to transfer USD from Revolut but it takes around 5 days. Revolut send the transaction as ACH not wire because the bank account which IBKR provided was in US.
I got in touch with IBKR and they confirmed that Revolut sent it as ACH and that's why it will take time.
Oh very interesting - thank you for sharing this. I'll need to try again on my side! Just to confirm, the funds successfully arrived for you did they? And obviously no further conversion needed once funds were in the account?
Cheers,
- Ste
@@TheLearningsReport Yeah, that's correct, no further conversions are needed. I prefer that option except it takes time around 3-5 days.
@@TheLearningsReport Could you please explain the fees of IBKR in details. I'm trying to sell NVDA and found that they are going to charge me around 1 USD. isn't it commission free?
@@amaharek They charge a variable rate of minimum $1 or 1% of the total trade value. The don't charge an account fee, but there is still a trading fee unfortunately. Link below explains the fees - we draw your attention to the United States section in first paragraph👍
Great video Ste. How would you rank IBR vs De Giro, Revolut and other players in the market?
Hey Karl - thanks for that!
Hard to rank them per se, as they all have their perks & drawbacks - and probably tailor to different styles of investors.
Beginner - Revolut
Intermediate - Degiro / eToro
Intermediate/Advanced - IBKR
I personally use IBKR as my broker of choice, but I somewhat defaulted to that due the fact that they let me move my holdings from my old US based broker to their platform (while all the other platforms I spoke to wouldn't allow it). That being said, after using the platform, I wouldn't be rushing to switch to any others as I'm very happy with what they offer!
People speak highly of Trading 212, but they haven't been accepting new customers (or at least Irish customers) for most of 2021 so far.
What do you use yourself?
Great video! Is it possible day trading on IBKR if you have account under 25k? I saw on some video that in that case they lock your account?
Thanks for watching, Tomislav.
Yeah, it looks like you can't trade more than 4 times in a 5 business day period if you have less than 25K otherwise you get classified as a Pattern Day Trader and have restrictions. More info here: ibkr.info/tag/pattern-day-trader-pdt#:~:text=Deposit%20funds%20into%20the%20account,are%20allowed%20unlimited%20day%20trades.
- Cian
Hi, thanks for the video. I am trying to register and after completing the Trading Experience and Permissions, I had this warning "The financial information, investment experience, and/or investment objectives you have listed in your account profile do not meet the eligibility requirements to trade Funds". All I want to do is invest in the S&P 500 for long-term growth. So I am stuck at that page and every time I hit Continue, this warning won't allow me to continue.
Sorry for the late response - big summer off!
It's likely that some of your answers to the previous questions might have been under the 'threshold' that IBKR ask for when opening an account. My unofficial advice? Just change your answers to match what their limits are - and that will allow you to proceed with the next steps. 😅
IBKR have stopped their inactivity fee now right?
Yessir, and how good of them to announce it 4 days after we release this video 😂
Can someone that has made a deposit to Interactive Brokers from EU help me? What were all the fees that you paid from your local bank fee to the actual conversion to USD on Interactive Brokers..Thanks
You pay the FX conversion fee if the money your lodging is different to your base currency e.g. EUR deposited but you want to trade in USD.
Then the funds will be in your account. In Ireland, that's the only fee you have when depositing funds.
Then you pay a trading fee when you buy shares. Usually $1 per trade.
- Ste
Can we have UK pensions SIPP account facility to open directly with them?
Hey Bala,
Thanks for watching.
I'm not a familiar with the SIPP in the UK but it looks like it is possible from their website.
"Interactive Brokers (UK) Limited does not accept SIPP's outright; rather, it does accept a SIPP Administrator of a SIPP to open a master account. A SIPP Administrator's clients can then open subaccounts and trade their SIPP through Interactive Brokers (UK) Limited."
More info here: www.interactivebrokers.co.uk/en/index.php?f=46506
- Cian
Hello guys. Thanks for the great video.. It is extremely hard to find a good EU broker with direct access market, paper trading features, and not restricted with the PDT rule.. I would like to ask couple of questions regarding IBKR:
if you can paper trade on Interactive Brokers to direct market prices?
if you can paper trade with less money instead of the full amount given (100000$)?
Is it free to open an account and paper trade?
Does it provide level 2 data?
Thank you
Hey John,
Thanks for watching. To your questions:
1. Yes, paper trading accounts use "real market conditions".
2. You don't need to use all of the funds allocated
3. Yes, free to open a regular account and with that you get a paper account with that.
4. Yes, you will have access to the desktop version of the Traders Workstation with your account.
More information here:
-www.interactivebrokers.com/en/software/ptgstl/topics/papertrader.htm
-www.interactivebrokers.com/en/trading/tws.php
- Cian
You can adjust the amount you're paper trading with, and set it to whatever you want. "You don't need to use all of the funds allocated" is accurate, but not really a useful answer.
Also, you say "Not restricted with the PDT rule"...I'm from the UK, and we're restricted by the PDT rule with IBKR because they use IBKR LLC (the US equivalent) for provision of the account. It's the same with certain other countries, though not all.
You paper trade with direct market prices, but the data is delayed by up to half an hour...it's not live data. And unlike Cian says, paper trading accounts do not use real market conditions. It attempts to simulate the market, and does a decent job of it, but it is not an accurate representation of how the live market would act.
If you want live data (live or paper trading account) you can subscribe to streaming data for the exchanges you need. You can also subscribe to L2 data for those exchanges. There are fees associated with this extra data, though it isn't phenomenally expensive if you're a non-professional
Was your account registered in IBKR IE (or CE) or IBKR UK?
I know they moved EU clients from IBUK after the Brexit situation but just to be sure
Hey Vig - I believe I was originally under IBKR UK and then was migrated over to IBKR IE, but I can't fully recall. Definitely under IBKR IE now though!
- Ste
@@TheLearningsReport ok thx
Great video! As I am residente, but non-domiciled in Ireland, I want to invest the money I have in my domicile country (Brazil) bypassing any Irish account. Can I do that through Interactive Brokers? Or when I send the money to this account it's considered remitted to Ireland? Thanks
Sorry for the late response, Lorrayne - big summer off!
So unfortunately I'd be hesitant to say what exactly your situation is in terms of taxes, as its a tricky one. My guess would be that you might be ok if your IBKR is Brazil based, and you only invest from money in your Brazilian account (without remitting it to your Irish account). But frankly, I'm really not sure - sorry I can't give you a more definitive answer! Best to reach out to an investing tax professional if you have concerns.
Hope you're enjoying the videos otherwise!
Stephen
Quick question, would it be better on the fees if we open account in USD rather than EUR and pay currency conversion fees on every trade?
Hey Valdas,
Is your base currency Euro? I imagine you are planning primarily to buy USD-based assets? If so, then buying direct with USD would be better as long as you can get the USD at better rates than what IBKR offer. Revolut has free currency conversion at really good rates.
I believe you can hold multiple currencies on IBKR and buy with those balances.
Article explaining different currencies on IBKR here: investmentmoats.com/uncategorized/convert-currencies-interactive-brokers/
- Cian
Can you trade options on thus. I.E. calls / puts
@@CAPTAINSARGE yeah, you can. More details here: www.interactivebrokers.com/en/trading/products-options.php
- Cian
Bear in mind that if you are continually trading in USD day on day you already have the money in USD unless you convert it back to EUR after trading. In other words, you start with EUR and convert it once and trade with it as much as you want as USD then when you're looking to cash out some money you convert that amount back to EUR to cash it out
How is Vanguard in comparison to Interactive Brokers? Can one invest on both platforms?
Sorry for the late response - big summer off!
Vanguard is a fund manager. One of its funds is VOO which is a Vanguard S&P 500 ETF - and this you can invest in via IBKR.
With how much money can you start to trade on a cash account minimum?
Thanks
Hey Varga,
There is no minimum deposit into your account. IBKR has fractional shares so you can start investing from just a couple of dollars with some assets, otherwise it will be the price of the asset.
- Cian
how to edit your profile information AFTER you've registered?
Hey Margarita, sorry for the late response on this - was enjoying some Portuguese sun!
Are you talking about any details specifically? Most of your account details can be edited from within your 'user settings' that you can find by clicking your profile icon. However, I feel I may be stating the obvious on that one, so let us know what exactly you'd like to edit and hopefully can give you some clearer guidance!
- Ste
could you please explain the part related to market data fees? I have found that market data including stock price is delayed up to 15 min and I should pay to receive streamed data. What If I submit a buy order which price will be used the delayed price or the current price (yahoo finance)?
I'm thinking to close my account. it's too complicated interface and hidden fees. I do appreciate if you can create a detailed video on IBKR.
Hi Abdel - I don't pay for live market data, as I don't personally need it. I don't trade actively, so a price difference of a few mins makes no difference to my strategy! I'm buying for the long-term. Please see below for info on market data from IBKR:
"By default, users will receive free delayed market data for available exchanges. If needed, users can subscribe to real-time streaming market data for the prices listed in the tables below. Once a subscription is active, the delayed market data will be replaced with the real-time quotes. In addition, clients who do not need streaming real-time quotes will have the ability to request snapshot data from multiple exchanges worldwide. This request will provide a static quote for the instrument. U.S. listed equities are USD 0.01 per quote request and all other instruments are USD 0.03 per quote request. As a courtesy, accounts will receive a waiver of USD 1.00 per month for snapshot quotes."
Regardless of market data, your order should go through at the current price, not the delayed price. If you choose 'market price' as your order type, then that should stand true. You can always set a limit price if you're in doubt.
- Ste
Fair enough, Abdel - choice is yours! For most beginners, this video covers all that you need. We outline all the relevant fees that a beginner needs to be aware of (in our opinion, very few beginners need to pay for real-time market data, for example).
As mentioned in previous comment, if you're looking to trade actively, then that's something different that we don't really cover in our video and don't foresee covering in the near future as that's not really what our channel is about!
I hope someone will be able to answer my question. So far I could not find information on the net but will keep on looking. I wanted to open the IBKR account in Ireland and I started the process on the Irish version of the website. I'm an EU citizen (not Irish) and I don't live in Ireland. When I confirmed my email, I was taken to the UK version of the website and when I was filling in the data, I realised my account will end up being in Hungary instead of Ireland (they mentioned Hungary several times). I freaked out and cancelled my application. I'm not sure which one is better, but I have a sentimental connection to Ireland and considering the political situation in Hungary, I would not want to open my account there. However, I'm starting to wonder if I have any say in where my account would be based ... Does anybody have any experience with this?
Thanks for the comment. So yes, as IBKR has a number of branches, the branch your account will be opened with is relevant to the jurisdiction you are in. I'm assuming Hungary is where your the applicable brand is located for your country - and I would also assume that it's unlikely you'll be able to open via the Irish office unless you're a resident here! If you have any doubts, my suggestion would be to message IBKR as they'll likely be able to add further transparency :)
IBKR is a reputable, publicly traded company, so I would be relatively confident that you won't have any issues using their Hungarian based operation - as it will likely be identical in everything other than name!
- Ste
What if I have dual citizenship but register just one? Does someone have experience with that. In my case 1 is EU and 1 is out of EU.
Hey Emierito - we haven't received this specific question before, but I guess what is your concern? If you're making the choice, I'd imagine choosing the citizenship where you're also a tax resident might be the best move, as logically, this would be what makes sense to me (not financial advice etc etc)
- Ste
So guys, UK and EU can't buy US etf at all?
do i have fees if i just have an account but never deposit money in it??
Hey, now that they have removed the inactivity/account fee, pretty sure you can lodge money to the platform and not have to worry about any fees at all until you actually make a trade 👍
Hey it’s not letting me change to cash account
Hi, I have a margin account with IBKR. If I created a sub account will I have the option to choose a cash or margin for my sub account? Thanks
Hey good question, and not totally sure to be perfectly honest. This one probably best saved for IBKR support! They're reasonably responsive with their enquiries, so I'd definitely suggest pinging them a message. Please let us know if you get a response, as I'm sure others will have similar questions!
Cheers,
- Ste
@@TheLearningsReport hey yeah it’s possible for the sub-account to be a cash account as per IBKR CS. Thanks for suggesting to send them a message :)
@@jdizon5724 Excellent - and nice one for taking the time to come back to us on it. Happy trading J!
- Ste
I've signed up but it never asked me to verify my address or provide I'd. how can I do this afterwards for added security
It didn't ask for anything? That seems odd - I haven't heard of someone being able to dodge that before. Have you been able to deposit funds and trade etc. ?
If you go to your account settings, you should see all that info listed under your profile.
- Ste
yes my details are all filled in but it didn't print me to upload anything as proof. I give my national insurance number. i also selected open uk Isa but navigating through the interface and also the app there's is nothing confirming I have a Isa or Isa balance. I will do some more research as I heard this is by far the best trading platform and I definitely will be using this one for my isa
@@oumuamua1963 Ok yes, there support is usually pretty responsive so they'll likely be able to clarify pretty quickly for you! Agreed, IBKR is my personal favourite broker also 👍
Can I buy BABA stock on the HK exchange ?
Hey Rick - just had a look there and it seems to be available to me (9988 SEHK).
Not sure if availability depends on where you're trading from (we're Ireland in case it wasn't obvious 😅) so that'd be the only caveat I'd say.
- Ste
hi
the account fees is no longer exist
Of course they announce it the week we release this video 🙈
Good news for investors, bad news for our video!
Thanks for the comment.
@@TheLearningsReport ha, that is so unfortunate but it's still a really good video, about 20 minutes before I got the email about ibkr fees I was advising a friend to use degiro for ETF investing as I thought ibkr was too expensive, I then rang him back being like ignore previous.
Haha an instant 180 - but cheers, glad you enjoyed the video nonetheless! More money in all our pockets at the end of the day 🤷♂️
So we can trade directly with website without the interactive broker software?
Hey Dorji - If by software you mean the 'Trader Work Station' then yes, you don't need to download that in order to use IBKR. Their 'client portal' is really all you need i.e. the website. The mobile app is essentially just the client portal.
Hope that answers your Q!
- Ste
@@TheLearningsReport thank you
@@dorjiwangmo654 No worries!
There is no more fee right?
Correct, fee has been removed! 🙌 (they sadly announced it 4 days after we released this video hence why we didn't mention)
Cheers,
- Ste
Hi, If your base currency is Euro, then surely its beneficial to deposit euros? Or perhaps I'm mistaken.
Hey Richard cheers for the note. Yeah I think the only caveat to that would be if you're trading US stocks, they're denominated in USD. So if you're depositing Euro, when you go to purchase you'll be prompted to convert that Eur to USD in order to purchase (and pay the small forex fee).
The only reason we flagged was because it would be nice if you could get the real exchange rate using a platform such as Revolut, send USD directly to your account, and skip that exchange fee.
www.interactivebrokers.com/en/software/am3/am/settings/basecurrency.htm
- Ste
@@TheLearningsReport Ok we will be charged with that small forex fee and the bank fee to send the money to US. What about a 15-25 USD fee from JP Morgan that I have heard about when non US people send money to IB? Am I mistaken do you know anything about it?
@@vsx9877 First I've heard of it. I have my Irish account linked up to IBKR and I've never come across a JP Morgan fee!
- Ste
@@TheLearningsReport Do you send your money to JP Morgan of Frankfurt or US? It says that on the instructions.
@@vsx9877 I send via Revolut and the info I use is the country (Germany), Currency (Eur), Iban (the one they supply that begins with DE), their BIC/SWIFT code and then for Company Name I just put in Interactive Brokers Limited Ireland.
Not sure if I was asked to submit an address?
212 have Apple Pay it’s way easier to fund your accounts
I am living in Germany, do i need to fund min. 25.000€ to be able to daytrade as it is with us brokers?
Thanks
Whats up Ben, thanks for the comment.
In short, I think it depends on which IBKR entity you opened your account with? Since Brexit, things have changed so you might not be restricted by the PDT (Pattern Day Trading) rule any more.
For example, my account is with Interactive Brokers Ireland (IBIE), and according to the terms when my account was migrated away from IBUK, I DON'T have to adhere to the PDT restrictions. Quote:
"Accounts maintained with IBUK are subject to the U.S. Pattern Day Trading (PDT) rule as the accounts are introduced to and carried by IBLLC, a U.S. broker. The PDT rules restricts accounts with equity below USD 25,000 to no more than 3 Day Trades within any 5-business day period. As accounts migrated to IBIE will not be introduced to IBLLC, they will NOT be subject to the PDT rule."
The title of the webpage with these FAQs is "FAQS: IBIE Brexit Account Migration", so I would simply replace 'IBIE' with your relevant account branch, and hopefully you can confirm whether the rules apply to you in Germany or not!
Hope this helps.
Link: ibkr.info/node/3550
- Ste
That helps slot, thank you for that great answer. Much appropriated
@@benjaminheil2864 No worries, glad it did! Best of luck.
Can I deposit Hong Kong dollar into my IBKR account from Hong Kong bank by wire? Thanks.
Hey Carlos - As the selection of available currencies differs based on the legal entity you're onboarded with, I actually don't have a Honk Kong Dollar option (I opened an account through their EU branch). From my research though, it seems like you shouldn't have any problems if your jurisdiction accepts Hong Kong Dollar! It might be worth dropping IBKR a quick customer message to double check though - better safe than sorry :)
- Ste
The Learnings Report
thanks for your reply mate 👍🏻
@@carlosleung5858 No worries, Carlos!
What about "Interactive Brokers Arbitration Agreement "...
Hey Rok, can you elaborate? Is this in relation to futures trading or something separate?
Cheers,
- Ste
I am trying to buy the VUAA in Euro. Is that not possible? Just USD or GBP?
Hey Barbara,
There is a VUAA on IBKR in Euro. Do you have an account?
- Cian
@@TheLearningsReport Hi, I think the tricky thing is to make sure you have the correct permissions. Once I had that sorted, I was able to invest in the correct fund. I signed up via your link.
@@barbarar5869 excellent, glad to hear that it got sorted, Barbara. Do you know which permissions you specifically needed? Just so we know for other viewers.
- Cian
@@barbarar5869 and thank you for using our link!
How on earth can you possibly put a percentage on "source of wealth"? Are you supposed to go back to the day you are born and keep track of every penny received?
When you say a % on source of wealth, what point of the video are you referring to? (Drop a timestamp if you can - cheers!)
@@TheLearningsReport Around 7:00. I went through the application but now they are asking me for my trading history. It's a KYC nightmare.
@@mattlm64 Sorry for the late response - tbh, if you read any of the Reddit threads about the IBKR sign-up, it seems that although they seem to ask quite a few questions, the answers don't seem to have much of an impact on the end service or functionality once your account is actually set up.
I wouldn't overthink it too much, and just give rough guidelines for any tricky questions you get! I haven't had any issues personally.
- Ste
@@TheLearningsReport No worries. Sure, though for me they still haven't approved my application and keep asking for more details. I'm considering trying Degiro instead if this carries on.
@@TheLearningsReport I got there in the end! They approved the account. The client portal interface isn't great and I'm waiting for margin to work properly but hopefully I'll get used to it and it will work ok.
Can you do a follow up video on how to invest in ETFs and stocks with this broker?
Hey - thanks for the suggestion. Have you watched our video on ETFs? Essentially the process is as simple as 1) Researching an ETF you're interested in. For example, if you want to track the S&P 500 and you're in Europe, then VUSA could be an ETF you'd like to look at. and then 2) Typing VUSA into the search bar, and purchasing it that way (just like you would a regular stock.
If you're in a country that allows you to purchase US domiciled ETFs, then VOO (Vanguard S&P 500) is the OG etf that most are familiar with! Sadly for us in Ireland, this ETF is unavailable due to regulations, however, VUSA is essentially the same thing.
Hope this helps!
- Ste
This blogger gives a great written breakdown if you wanted to check it out! Note: VOO may not be available to you based on your residency, so if thats the case, just switch VOO for VUAA (accumulating dividends) or VUSA (distributing dividends) and follow the same steps as he outlines in the blog post 👍
thepoorswiss.com/buy-etf-interactive-brokers-account-management/
@@TheLearningsReport It would be for Europe.
can i connect acount of this brokers to sierra chart ?
Not sure, sorry! Never heard of sierra chart 🤔
Sorry for the late response - big summer off!
Can you trade options, calls puts as an Irish user.
Hey Captain,
You can. More details here: www.interactivebrokers.com/en/trading/products-options.php
- Cian
@@TheLearningsReport Thank you
Best of luck!
Okay guys , One last question. I'm from Limerick , I started the sign up process , do you know if you can trade pre and post market. I have used Degiro last two years but their after hours thing is plain weird amd fees are too high to make use of
@@CAPTAINSARGE you can make orders outside of trading hours and I don't believe there are any fees - just made an order or hours there. More info here.
www.interactivebrokers.com/en/?f=%2Fen%2Ftrading%2Ftrading-hours.php
Where is your co host?
He was behind the camera this week! If you watch until the bloopers at the end, you'll hear him 😉
Now they do not charge to keep a account bro right.
Hey Aewrt,
IBKR no longer charge the Account fee. 👍 As we mentioned, there are other fees but this is a huge boost!
- Cian
Why did you guys stopped?
Hey Abdel - Stopped what?! 😅
@@TheLearningsReport I thought you aren't going to upload new videos. But I saw your new video. All the best!
Nightmare application process. I gave up have way through.
Hiya Kenny - which part did you give up on? Agreed it's a bit lengthly and some of the info seems unnecessary, but tbh it's worth the bit of extra work! Pretty solid platform. But then again, plenty other options out there if simplicity is what you're after!
- Ste
Hi will try again today
@@kennymac6376 any questions, just shout! - Cian