Review of Interactive Brokers (India)

umesh_ladha · #1 25th May 2009, 05:48 PM

Hi,

It seems IB has started its operations in India.

Can anyone please share their experience (if any) with them

Thanks

AceX · #2 28th May 2009, 12:26 PM

Too costly brokerage. Not even worth pursuing. Although I seriously wanted IB type stuff, but I guess I have to wait longer

Trader789 · #3 6th June 2009, 04:30 PM

AceX, You said Interactive brokers is costly. Are you using it for trading India stocks or USA (NASDAQ, NYSE) stocks). You may may know that Indian citizens can trade USA stocks.

Please let me know what are the typical commissions at Interactive brokers

spreadtrader · #4 8th June 2009, 11:10 PM

From what I understand, to trade with IB you need to have a minimum account size. Yes, the brokerages are a little on the higher side..nearing $10 per round trip I suppose.

Also they have a minimum restriction on the lot size you trade. I believe you need to trade minimum 2 lots of options.

Of course all these pointers are from grapevine discussion, It would be best if you can directly approach them for pricing.

Happy Trading,
Spread Trader.

pabmove · #5 20th June 2009, 08:41 AM

anyone trying out IB forex? Please share?

joesan · #6 5th July 2009, 09:30 PM

Hi,

I am a Chinese trader considering trading NIfty index futures contracts. I am currently using Interactivebrokers to trade other Asian Pacific derivative products, very satisfied with their service.

Recently I found IB has begun to offer Indian products to non-Indian customers, and I found on their company's Indian website , there are the following offer of commisions of brokage of Indian futures products. Would someone be kind enough to comment what is their (IB's ) commision level compared to local brokerage ?

================================================== ==

India(1) (plus Securities Transaction Tax, Exchange Charges, and Service Tax)
=< 10 Crores(2) 0.035% INR 100 500 contracts x 50(3) x 3,356 = 84,125,000 x 0.035% = INR 29,400
10 =< 20 Crores(2) 0.025% INR 100 900 contracts x 50(3) x 3,356 = 151,425,000 x 0.025% = INR 37,856
=> 20 Crores(2) 0.015% INR 100 1,200 contracts x 50(3) x 3,356 = 201,900,000 x 0.015% = INR 30,285

the IB Indian website is here:

http://www.interactivebrokers.co.in/...p?ib_entity=in

AW10 · #7 6th July 2009, 04:02 PM

Joesan, If you are not residing in India, and want to trade indian market, then IB is only choice for you at this stage. You will not be able to open account with any Indian broker due to location constraint for trading imposed by regulators. Currently, individual foreign traders are not allowed the direct access to Indian mkt (quite possible, IB will also not allow any foreigner to have retail trading account. But if any fund house is registered with Indian regulators as Foreign Instt Investor, then they are allowed to trade Indian mkt (probably that is the segment IB is trying to cater thru this offering).

IB's brokerage is very much in-line with what u can get from leading brokerage house serving active traders. And they come with world-class trading platform which u won't find with any Indian Brokerage site.

Happy Trading

joesan · #8 7th July 2009, 05:08 AM

AW

Thanks for your explanation of Indian regulations. I have just found out that currently foreign retail traders cannot trade the Indian markets. What a pity. Similar situation here in China, we now even do not have a stock index futures contract ! Let alone foreign retail traders. Hope things improve soon. BRIC countries need to catch up with the old powers , so far as the financial competitiveness is concerned.

Happy trading to you !

Joesan

Quote:

Originally Posted by AW10

Joesan, If you are not residing in India, and want to trade indian market, then IB is only choice for you at this stage. You will not be able to open account with any Indian broker due to location constraint for trading imposed by regulators. Currently, individual foreign traders are not allowed the direct access to Indian mkt (quite possible, IB will also not allow any foreigner to have retail trading account. But if any fund house is registered with Indian regulators as Foreign Instt Investor, then they are allowed to trade Indian mkt (probably that is the segment IB is trying to cater thru this offering).

IB's brokerage is very much in-line with what u can get from leading brokerage house serving active traders. And they come with world-class trading platform which u won't find with any Indian Brokerage site.

Happy Trading

agmanojk · #9 25th November 2009, 12:14 PM

Hi, Is interactive brokers mainly suited for F&O trading. I am an investor. is it suitable for guys like me who trade medium to long term in stocks only. Thanks Manoj

accentindia · #10 19th December 2009, 10:41 PM

Quote:

Originally Posted by Trader789

AceX, You said Interactive brokers is costly. Are you using it for trading India stocks or USA (NASDAQ, NYSE) stocks). You may may know that Indian citizens can trade USA stocks.

Please let me know what are the typical commissions at Interactive brokers

for trading intraday on NYSE or NASDAQ you need to transfer minimum 25000 US dollars to your account in US thru wire transfer,

that's the minimum for intraday trading..... in indian rupees its approx 12 lakhs

its a SEC requirement

The Following User Says Thank You to AceX For This Useful Post:
bunny (28th May 2009)

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