Review of Interactive Brokers (India)

[AW10]

Accentindia, would like to add something to your post.. IMO, it is not 100% correct..

In US, there is something called “Pattern Day Trader” client. This is the client who does more then 5 intraday transactions in a weeks period. For such type of client, there is requirement to have min $25k of account balance. But his rule does not apply to trading in futures i.e eMini of Dow/S&P500.. You just need the minimum margin amount in your account and some more $ to take care of loosing trades.
So if eMini s&p500 margin is 500 USD then with 1000 $ acct, you can easily trade 1 eMini S&P500 contract.

But if you want to daytrade, individual stocks then yes.. you need big pocket.

Infact, even with small account, you can do upto 3 day trades in stocks during a weeks time and your broker will not say anything. On 4th daytrade in this period, either they will block yr acct or will give u reminder and if you still not listen to them then they may reject the 5th daytrade (even if you have intention to hold the 5 buy for long time).

Happy Trading

 

[zzz]

impossible to open an account with Interactive Brokers

I've been trying to open an account with Interactive Brokers for the past 3-4 months and they always keep asking me to refill the forms and there is always something missing since everytime i return the forms they have a new requirement.

is anyone else facing similar issue or were you able to open the account easily?

 

[NAVEEVIa]

Is anybody trading US index futures like NQ, YM ES etc
Is it possible for an individual to just deposit money from regular rupee saving account to fund in $ & withdraw $ back to rupee account.
IB Representative do you allow Indians to trade these?
Anyone else have any knowledge how an Indian resident can trade these in an account in his name.
Anyone has any knowledge?
Thnx
Naveen

 

[mithoon]

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

Hi ,
I have been considering using IB as they are currently the only ones offering automated trading ,i would kindly request you to provide me with any info regarding trading (Indian Market)with IB and their automated trading,if you have any.

 

[jain.er]

IB is too costly for doing Intraday .... in Indian markets

 

[pahariayogi]

Hello, I am an investor with occasional (1-5) buy/sell trades in a month. Customer with IIFL for years. Planning to switch to Kotak as IIFL as stopped VTD (Valid Till Date) orders. They agreed to offer their lowest brokerage (0.12%).

I was also keen to find a platform thru which i can invest in start-ups specially in USA/India.

Then, i came across few posts on internet where IB was suggested as an option to trade in multiple exchanges globally with single acct. Would anyone suggest using IB for mainly NSE and occasional trades in NYSE/NSADAQ?

Can someone suggest a platform to invest in start-ups too?