Interactive Brokers (IB) - US Options/Equities - Feedback from UK customers ?

tony2toes

Any existing UK based Interactive Brokers (IB) customers here who trade particularly in the US Options side ?

Being a Brit myself, I've been thinking of funding my IB account which was opened a while back. Several issues/feedback from existing international customers posted on forums have been holding me back from funding my IB account. I'm currently trading via an existing US stock & options account with another US discount broker for several years now,

1. How stringent are IB with their auto-liquidation policy especially with options (credit spreads, naked puts, covered calls etc) when margin falls below required levels. Have any of you been subjected to this at all ? I've had no issues with regards to this i.e. no liquidations with my current US broker...

2. Have you had any issues with withdrawals and how do you normally get the funds out to your UK bank account with minimal charges and hassle ? I understand that the funds have to be converted from USD (assuming this my base currency) to GBP first via a Forex type transaction secured against your available margin. And apparently the first withdrawal is free (once per month).


Any other general feedback (both positive or negative) on IB most welcome...

Thanks

tony2toes

sabretoothtigger

We had someone on the ftse thread who dealt with them fine. But options is way way over the top of this forum.

http://www.trade2win.com/boards/brokerages/18316-interactive-brokers.html?highlight=Interactive+Brokers