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Interactive Brokers not allowing futures trading in IRAs
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Interactive Brokers not allowing futures trading in IRAs

  #51 (permalink)
One day...
SF, CA/USA
 
Futures Experience: Beginner
Platform: SC
Broker/Data: Stage 5 Trading/Gain
Favorite Futures: CL, NQ, ES, EUR
 
jackbravo's Avatar
 
Posts: 1,041 since Jun 2014
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Yea, I requested an exemption to my account since I overtrade like a maniac. We'll see. If not, I've researching other brokerages. I'm liking Stage 5 right now, looks like they're good folks, good margins and fees, and I like that FT71 does webinars here. Only negative is someone else has to house the IRA, which will cost 300$ a year.

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  #52 (permalink)
Patience my young padawan
Houston, TX/USA
 
Futures Experience: Intermediate
Platform: NinjaTrader TWS Barchart
Broker/Data: IB / IB
Favorite Futures: ES & looking into commodities
 
ElChacal's Avatar
 
Posts: 314 since Nov 2014
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Man... this is a buzz kill I should have learned to use Tradestation instead of Ninja. Data fees are low and no crazy initial margins.

Ninja brokerage seems to have low commissions but they don't even show you a phone number. Besides, the data feed is expensive.

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  #53 (permalink)
Elite Member
New York, NY
 
Futures Experience: Intermediate
Platform: Sierra Chart, thinkorswim
Broker/Data: Amp-Rithmic/TT, IB
Favorite Futures: CL, GC, NQ
 
Posts: 569 since Nov 2010
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FWIW, IB chat rep today said 3x posted exchange initial overnight margin effective 4/15, no idea what time it will go into effect.

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  #54 (permalink)
One day...
SF, CA/USA
 
Futures Experience: Beginner
Platform: SC
Broker/Data: Stage 5 Trading/Gain
Favorite Futures: CL, NQ, ES, EUR
 
jackbravo's Avatar
 
Posts: 1,041 since Jun 2014
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no effect on trading today so far

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  #55 (permalink)
One day...
SF, CA/USA
 
Futures Experience: Beginner
Platform: SC
Broker/Data: Stage 5 Trading/Gain
Favorite Futures: CL, NQ, ES, EUR
 
jackbravo's Avatar
 
Posts: 1,041 since Jun 2014
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ok, from I can tell today, the triple margin is for both day and overnight margins. So for daytrading, they're tripling the daytime margin not the overnight margin. However, to initiate a position you need full margin, so you have to scale into positions.

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  #56 (permalink)
Elite Member
New York, NY
 
Futures Experience: Intermediate
Platform: Sierra Chart, thinkorswim
Broker/Data: Amp-Rithmic/TT, IB
Favorite Futures: CL, GC, NQ
 
Posts: 569 since Nov 2010
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I thought IB's IRA futures margins were already at full overnight exchange or higher for some contracts anyway, no lower for intraday?

Is there a specific place we can see the actual IRA futures margins for all contracts?

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  #57 (permalink)
One day...
SF, CA/USA
 
Futures Experience: Beginner
Platform: SC
Broker/Data: Stage 5 Trading/Gain
Favorite Futures: CL, NQ, ES, EUR
 
jackbravo's Avatar
 
Posts: 1,041 since Jun 2014
Thanks: 2,447 given, 1,651 received
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i have no idea. just writing down my observations. i'm not sure that they're organized enough to have accurate documentation. according to their website, you're not supposed to be able to trade futures at all

http://ibkb.interactivebrokers.com/node/188

so, really, I have no idea, and their customer service is really pretty terrible.

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  #58 (permalink)
Elite Member
Louisville, Kentucky
 
Futures Experience: Intermediate
Platform: Sierra Chart, IRT
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empty's Avatar
 
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Tradestation


ElChacal View Post
Man... this is a buzz kill I should have learned to use Tradestation instead of Ninja. Data fees are low and no crazy initial margins.

Ninja brokerage seems to have low commissions but they don't even show you a phone number. Besides, the data feed is expensive.

Keep in mind with Tradestation your money will be in buckets each with it's own account for Futures, Forex, Stocks, Options.

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  #59 (permalink)
Elite Member
Santa Cruz, Ca
 
Futures Experience: Intermediate
Platform: tradestation
Favorite Futures: ES
 
Posts: 3 since Mar 2012
Thanks: 3 given, 1 received

Tradestation

tI use Tradestation for my futures trading in my IRA. The custodian is Advanta. I am very happy with both. I previously traded ETF's but switched over to futures last year. The transition was very smooth.

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  #60 (permalink)
Patience my young padawan
Houston, TX/USA
 
Futures Experience: Intermediate
Platform: NinjaTrader TWS Barchart
Broker/Data: IB / IB
Favorite Futures: ES & looking into commodities
 
ElChacal's Avatar
 
Posts: 314 since Nov 2014
Thanks: 386 given, 185 received



empty View Post
Keep in mind with Tradestation your money will be in buckets each with it's own account for Futures, Forex, Stocks, Options.

Thanks. Don't mind my comment, I actually got confused with the initial margins for "Equity day trading" which is actually a FINRA rule. I already know Ninjascript enough to start learning another language.

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