Interactive Brokers

[megapixel]

very much expensive ....

will stick to our desi Zerodha unless Interactive Broker allows indian traders to trade in international markets.

also from their website (india domain) its throwing mostly US specific information....looks like they still have shadow of US market.

by the way ..are they registered member of SEBI ? how safe our money with them ?

 

[403.forbidden]

For India they need rupee equivalent of US$ 2000 as margin. That comes to around Rs 1,10,000=00 .

For opening an account they want proof of having liquid assets in the form of shares, bank FDs,Bank balance etc to be some Rs 4 Lacs for cash market and Rs 15 Lacs for F & O trading. This condition is a bit stiff for new traders.

Smart_trade

Dear Mr.Smart_trade,

Thank you very much for the information

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

 

[403.forbidden]

Zerodha and RKSV both are good. Interactive Brokers have some additional facilities , they being present in many countries, their front end and backend platforms are world class......but with that comes strict discipline....if the margin in the account falls short, they will just liquidate the outstanding position without checking with the trader, as the whole RMS is fully computerised......

If a trader can trade well, he can make money trading with any of the above brokers. If a trader cannot trade, give him best tools and he will mess it up...


Smart_trade

:thumb::thumb::thumb::thumb::thumb:

 

[visphy]

I also want to trade with Interactive Brokers. My capital is 50L . Is my capital safe with IB.

 

[age_of_turbulence]

Wow. At .01%, without Zerodha's tragically high transaction charges - I'm certainly tempted. Will wait for Nest, I guess - but a reduction to more realistic brokerage levels is a game changer.

 

[Lopesh]

The best feature I found about IB is their TWS trading platform as it provides API for integration with other s/w such as Amibroker thus providing live market data (1-sec not tick) to analyse.

 

[a1b1trader]

Did you do any calculations? It is definitely not VERY expensive. In fact it will be cheaper if you trade a single lot of nifty.
1 Lot round-trade NF @5300
@Zerodha - 40
@IB - 26.5

What about other innumerable taxes and charges.
Compare with all charges for 1 lot of NIFTY
Thanks

 

[age_of_turbulence]

I suppose that would be approx. same on both the platforms

Slightly lower for IB, overall. They're marginally higher on Stamp duty (Mumbai v Karnataka), but much lower on transaction charges. The main issue is whether this is a platform robust enough to allow us to get rid of paying data charges for our charting software like any serious trader does today. Any IB users around?

Also, their international offerings are tempting in themselves. Trading a market with the kind of transaction charges (STT, SEBI, Transaction tax, stamp duty, brokerage) we have here in India doesn't make a lot of sense.

 

[Lopesh]

Data Charges for Indian NSE is free as indicated in their website
http://www.interactivebrokers.co.in/en/p.php?f=marketData&ib_entity=in

I was not able to understand what do they mean by quote booster pack

Which includes :
National Stock Exchange of India, Capital Market Segment
National Stock Exchange of India, Futures and Options Segment

But the only thing which is stopping a person like me who does not trade daily is the generation of 5 USD commission i.e. @ 0.05% in equity it comes to around INR 600000 or I will be charged USD 5 i.e. around 300 PM

 

[tinkug112]

I used IB in US they are amazing ..

As mentioned by one the member delay in data for NSE cann't comment on it as of now.

In process of opening account with IB and they are very strict about documents, setting them up will post review once I have them.

I think we might get good review from ST before that.