So, it is possible to frequently toggle between fixed pricing and tiered pricing, right?

For example:

Day 1: I plan to buy shares in only SGX. So, I select fixed pricing.

Day 2: I plan to buy shares in New York Stock Exchange. As such, I change to tiered pricing. Then, I wait till tiered pricing is effective in IBKR, before buying shares in New York Stock Exchange.

For sure, such method is suitable only for those who do not trade very often.

This post has been edited by kart: Mar 12 2022, 06:27 PM

Is there any fee / commission imposed by IBKR, if we use Good-Til-Cancelled (GTC) order, even though it may take months for the actual price to reach the price that we set?

Or, IBKR will charge the usual trading commission, only when the price reaches the price that we set?

In other words, in term of the trading commission charged by IBKR, there is no difference between Good-Til-Cancelled (GTC) order, and Limit Order (which expires at the end of the trading day), right?

This post has been edited by kart: Dec 28 2023, 05:02 PM

What does negative interest accrued mean? Do I have to pay the interest accrued to IBKR?


I have IBKR Cash Account. A few days ago, I deposited some money in my IBKR account, via FAST. Then, I converted SGD to GBP with limit order, via "Forex" tab in IBKR website. Lastly, I used the converted GBP to participate in Preferential Offering of Elite Commercial REIT.


I am pretty sure that I used the money in my IBKR account for the conversion from SGD to GBP.


Thank you for your information.




This post has been edited by kart: Jan 11 2024, 10:30 PM

Medufsaid

My Daily Activity Statement does not have a table titled "Interest".


The following tables are shown in my Daily Activity Statement, generated from IBKR website:
Net Asset Value
Mark-to-Market Performance Summary
Realized & Unrealized Performance Summary
Month & Year to Date Performance Summary
Cash Report
Open Positions
Forex Balances
Interest Accruals
Deposits & Withdrawal
Financial Instrument Information

This post has been edited by kart: Jan 12 2024, 10:51 AM

IBKR CS replied that when IBKR deducted the GBP cash in my account for the Preferential Offering, the forex conversion to GBP was not yet settled at that time, so I need to pay interest to IBKR.

--

Well, I can understand that we should wait T + 2 working day, for the trade of stock to be settled, before we can proceed to perform further trading of the stock, such as selling the stock. However, the forex conversion in IBKR should immediately be settled, and the SGD cash in my account was already deducted to pay for the forex conversion.


Moreover, I did not withdraw GBP cash out from my IBKR Cash Account, because GBP cash was used to pay for Preferential Offering.


I just cannot really understand why we should wait T + 2 working day, for the forex conversion to be settled.

This post has been edited by kart: Feb 19 2024, 08:13 AM

Medufsaid

The fee and the interest are deducted from the base currency. So, I changed my base currency to GBP.


After IBKR deducted GBP 1.05 from GBP cash in my IBKR Cash Account, I changed my base currency back to SGD.


The screenshot shows how I convert SGD to GBP with limit order, via "Forex" tab in IBKR website.





I believe that you use "Convert Currency" tab.


dwRK

So, we are required to wait at least T + 2 working day, for the forex conversion to be settled. Sigh, it is a somewhat painful lesson learnt for me, since I need to pay the interest to IBKR.


That time, Corporate Action Manager in IBKR website showed the allocated units and allowable excess units for the Preferential Offering, at a date later than usual. I needed to make sure of the number of the allowable excess units, before I could deposit the required amount for the forex conversion.

This post has been edited by kart: Feb 19 2024, 11:35 AM