You anyway have $1 worth of snapshots available for free each month, which is probably never reached if you don’t do day trading.
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Guys thanks a lot for your replies, wasn’t sure/aware for many of those things…
So practically 20 snapshots per month are available free of charge anyway? or yahoo finance in any case…
Am I charged now 10-chf per month (<100k), plus the transaction fees for each order or the transaction fees are taken from this 10-chf?
The use of IBKR algo? Does anyone use that for placing orders when an exchange is closed? Is it free/of added value?
Also while I tried to modify an order/ price limit very close to the actual price, it shows me a message "The following order “BUY xxxxx” price exceeds the percentage constraint of 3%. Are you sure you want to submit the order?
For instance I gave a price limit for buying at 84.32 and in my portfolio it shows that the average price of my shares is 84.38, how can that be? Also where exactly can I see now the transaction fees paid?
Generally is there a guide of what all that warning messages mean, maybe from IBKR?
I believe the commissions paid is factored into the average price.
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Thanks for asking, because that was just also my question after my first order yesterday!
By the way, I bought VT, which went through without problem.
I have been doubting to buy VTI+VEA+VWO, as to be able to rebalance to my liking and for lower costs; however then I realised that if we are going to lose access to US ETF’s, that will become a tad difficult to rebalance…
Edit: VEA not VEU, ty dbu.
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VEA (dev ex-US), rather than VEU (all-world ex-US); as you play with VWO (EM) already.
Typo, yes, sorry -let me correct that so it hurts noone!
To be honest i am still struggling to understand better few things and the columns now in my portfolio…
So, you bought VT also via ARCA right? Is there any particular difference betweem ARCA and NYSE? For me for instance I had only VT via ARCA visible in IKBR…
So the transaction fees are automatically calculated and added in the share price?
Also what about the percentage constraint 3% warning message? Could it be that there was smth wrong in the way I executed the order?
Normally for instance, I am setting limit price and entering a price limit about 0.10-0.20 (very little lower than what I am seeing as last priced or as current price…)
Before I started to buy, I set up a watchlist with the funds I’d like to buy.
You can buy from there, so it minimises the change to make any mistake.
When adding to the watchlist, there is only one ’ VT’:
VTVANGUARD TOT WORLD STK ETF - ARCA
However I believe IB will by itself find the exchange where it is cheapest to buy.
My order says it was bought @ EDGEA.
I didn’t get any constraint message, so I don’t know about that.
I just got the ‘you do not have market data’ - which I ignored.
I set the limit price just above ($0.02) the delayed price I saw.
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They can’t hide the fact that their interface used to be - and in many respects still is - geared towards heavy traders. Who often trade in products that will have much higher day-to-day or even intraday swings.
Broadly speaking and simplifying: Like buying the same product from different shops. Though in this case ARCA belongs to the same group.
I went through this rite of passage today. I even used the snapshot price feature to get the latest possible price. It took ages for my VT order to fill. I tried the ask price as well as their capped mid price algo.
So many warnings too! The 3% warning made absolutely no sense as I was bidding mid price around $81.50. Then the warning about price capping when I already had a cap within the spread.
The price probably changed more during the time I had to spend deciphering their warnings and re-checking my bid, compared to how little I was out of some algorithmic ideal price.
I finally found peace after reading this guide from the Poor Swiss. In the end he writes about the warnings.
https://thepoorswiss.com/buy-etf-interactive-brokers-account-management/
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i opened a demo account with IBKR to test it, after several emails / effort, i realised that i was trying to login from another portal, long story short i done a lot of effort to see very little at the end.
i can see that IBKR has a fees advantage over many other brokers
but if one cannot overcome the customer service support which is very poor to my view,
and the interface which very old / confusing (ok i recognise they are around for decades, so some legacy issues)
but still i cannot convince myself that this the right package for me
what is the 2nd best for a swiss investor ?
any experience with Schwab, TD Ameritrade, ETrade ?
On IBKR, instead of using the Trader workstation, you can buy your ETF directly on the web portal which is easier and more friendly.
If you use the Trader workstation, you can follow this tutorial How to buy the VT ETF (in USD) on Interactive Brokers
Swissquote has the best support, easy interface, and low fee for a Swiss broker
any experience with Schwab, TD Ameritrade, ETrade ?
As a Swiss investor, they are not possible or a good option
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I’ve just started with IB, and had the same worries for long.
However, I’m solely using the web portal which is completely easy and clear, hardly any difference to something like DeGiro.
Just forget about all these trading tools, unless you are day trading noone needs that and you don’t have to login to that or install it.
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Hey all
Quick question - i just opened my IB account, transfered money (CHF) and converted it to USD.
My goal is to start inveting/buying VT and i want to place the order preferably via the mobile app.
- So on the mobile app, I choose VT and press Kauf (buy).
- On the next page, i choose the QTY (as example 10 shares)
- Ordertype - what is best here? Limit? Market? If limit, how do i determine which limit?
- Gültigkeitsdauer - Tag/Day?
Something else i need to consider before placing the ordre?
Thanks!
I just post this definition here: https://www.investopedia.com
It depends what you want. You determine the limit by checking the last price shown in the app or other sources like google or yahoo. You can also set a limit order way below the current price in anticipation of a rapid drop in price.
You usually see a Bid and Ask price. Bid is the highest people are offering to buy some. Ask the lowest people are accepting to sell.
So your limit should be somewhere in between there, depending on how much time you have. If you just want to buy instantly, the limit has to be at least at the Ask price.
If you are trading something that lot of people are trading on a big exchange, market would also be fine… But IB annoys you with a lot of warnings if you do that.
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One more point/question in my new IB journey, that might be interesting for others too:
For use with a swiss tax declaration, what report should be used?
-
Is IB generating a yearly report by itself, and is this useful?
-
Should one make a custom report template, and then what items should be included?
Maybe someone already figured this out, then it would be a great help if you could share.
CTRL + F “IB Taxes”
You’ll find all. Make a yearly report and if you wish include it. The rest is the usual.(they need to see what you do with anything else (bank accounts etc.)
edit: Ok maybe not “IB Taxes” , try “Interactive taxes”.
you’ll get this (please try first)
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I’m weary of being a ’ free floater’ so indeed I searched IB Taxes and strolled through several threads, but I didn’t find any.
I think it should be good to include it in the Dummie thread too, as everyone starting will get to this point.
Thanks for the help!
Interactive taxes sounds very scary as a concept, by the way…
They don’t provide a Swiss report.
No issues so far - that said, I’m probably not worthy of the tax authority’s full attention. My income from employment is rather low and boring, whereas my securities statement probably looks to bothersome to scrutinise (lots of foreign accounts and reports, lots of transactions, yet many of them small or minuscule and still relatively modest net worth overall)
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