Anyone use Interactive Brokers?

Ryaner

Treppen wrote: »

Ok I think I'm nearly set up!... I've enabled all my Trading permissions but still getting this restriction.
Can anyone illuminate?

Some trading permissions don't even show unless you answer some of the knowledge questions a certain way. As an example I have no ability to trade certain options and no setting to enable it on the trading permissions because I have said I've zero experience in this area.

Bob24 wrote: »

One more question for people who have been using IB for some time: do they provide tax reports tailored for Irish tax rules (I.e. 2 CGT reports each year based on our CGT calculation rules at our 2 CGT payment deadlines, and a yearly dividends report; with all amounts converted into euro).

I've not see any Irish specific reports from them. They do also custom versions of the reports so you can select the date range and generate the required output for CGT.
Be warned if you are buying ETFs as they only have reports going back 5 years so you will be calculating this manually for deemed disposal purposes.

Bob24

Ryaner wrote: »

I've not see any Irish specific reports from them. They do also custom versions of the reports so you can select the date range and generate the required output for CGT.
Be warned if you are buying ETFs as they only have reports going back 5 years so you will be calculating this manually for deemed disposal purposes.

Thanks. A bit of a shame that you have to do some manual work. DEGIRO spits out reports with the total amounts of dividends per country and the aggregated capital gains which you can directly use for your tax return with no manual calculations.

Treppen

Ryaner wrote: »

Some trading permissions don't even show unless you answer some of the knowledge questions a certain way. As an example I have no ability to trade certain options and no setting to enable it on the trading permissions because I have said I've zero experience in this area.

I changed everything to 25 years of experience , exceptional knowledge and 1 million liquid assets etc. Gordon Gekko would be proud.

All sorted now.

Ryaner

Bob24 wrote: »

Thanks. A bit of a shame that you have to do some manual work. DEGIRO spits out reports with the total amounts of dividends per country and the aggregated capital gains which you can directly use for your tax return with no manu calculations.

That sort of report exists and is generated in January. I've not seen one, even on DeGiro, that breaks the year in two, the same way Revenue want things paid. It is just the single year report.

Bob24

Ryaner wrote: »

That sort of report exists and is generated in January. I've not seen one, even on DeGiro, that breaks the year in two, the same way Revenue want things paid. It is just the single year report.

Thanks.

DEGIRO definitely produces a first report covering transactions up to the end of Nov which is issued in early Dec. And then a second report which includes the full year and is issued in Jan. They are available in the reports section of the website or the App.

But to come back to IB, I get it right that the January report shows the full capital gains calculated based on the FIFO rule and the 4 weeks exception?

bawnBeag

Question on Interactive Brokers, for call/put options trading, does it matter if its a cash or margin account?