Will there be any restrictions on trading? Due to the extreme volatility of cryptocurrencies, clients will be unable to assume a short position (including as part of a spread). In addition, market orders will not be accepted.
Things I learned today about trading with Interactive Brokers for Bitcoin futures
I've been trading futures for over a decade, so I'm not new to the game. I have a subscription to CBOE and went to place a trade, but was denied. I learned that I need specific "CryptoCurrency" trading permission! WTF???? So I applied and it will take 24 hours to be granted permission. Then I learned Interactive Brokers is NOT ALLOWING TO SHORT GXBT!!!!! WTF???? That's what's good about futures, the ability to go long or short at any time. Then I learned they're charging $5/contract!!!! Again....WTF???? Normal charges for futures contracts are between 40 & 80 cents/contract. $5????? And each contact only holds one bitcoin - a very low amount for a futures contract (except if you consider e-mini's). I hope things will change with the CME next week. I know one contact will equal 5 bitcoins. Hoping volume will be higher too. Currently, volume is way too low for the amount of hype that was surrounding this. And the Interactive Brokers CEO said on CNBC earlier that he thinks Bitcoin will go to $0. But before that happens, it could $100,000!!! Welcome to pure gambling :-)
CEO of Interactive Brokers Is Interested In Having Bitcoin Trading and Bitcoin Futures Products On The Platform
In an interview on CNBC, Thomas Peterffy says that he is interested in having real bitcoin trades as well as other bitcoin products on Interactive Brokers platform. He also said that he is wary of CME's attempt to launch bitcoin futures without requiring anyone to actually hold the underlying bitcoin that is being traded (because the contracts will be cash-settled). It seems to be going more and more mainstream by the day!
Thomas Peterffy, founder of futures commission Interactive Brokers LLC "...warns the rise of Bitcoin could destabilize the economy. He calls for a ban on Bitcoin and other so-called cryptocurrencies from using the same clearing organization as other financial products."
Stupid-ish question: how do I buy bitcoin with Interactive Brokers?
I read that it is possible to buy a bitcoin fund called Bitcoin Tracker One through IB, ticker BITCOIN XBT. I type it in and it is found, but the option to buy the "stock" is grayed out. How am I supposed to buy it? Thanks.
Interactive Brokers Canada Inc. is an execution-only dealer and does not provide investment advice or recommendations regarding the purchase or sale of any securities or derivatives. Registered Office: 1800 McGill College Avenue, Suite 2106, Montreal, Quebec, H3A 3J6, Canada. Website: www.interactivebrokers.ca. Interactive Brokers U.K. Limited Фьючерсы на Bitcoin. Interactive Brokers ®, IB SM, InteractiveBrokers.com ®, Interactive Analytics ®, IB Options Analytics SM, IB SmartRouting SM, PortfolioAnalyst ®, IB Trader Workstation SM и One World, One Account SM являются знаками обслуживания и/или торговыми марками Interactive Brokers LLC. Interactive Brokers LLC. Is a member NYSE - FINRA - SIPC and regulated by the US Securities and Exchange Commission and the Commodity Futures Trading Commission. Headquarters: One Pickwick Plaza, Greenwich, CT 06830 USA Website: www.interactivebrokers.com Interactive Brokers Canada Inc. Is a member of the Investment Industry Regulatory Organization of Canada (IIROC) and Member - Canadian ... Leading discount brokerage Interactive Brokers (IB) has added Bitcoin Tracker One (BITCOIN XBT) to its suite of traded assets, making it accessible to clients outside of Sweden. Bitcoin Tracker One is an exchange traded note (ETN) that directly tracks the traded price of bitcoin on major USD-based exchanges. Outright Margin: The margin requirement for outright long positions will be set at 50% of the prior day's lead month settlement price.In the case of outright short positions, the margin rate for the CME contracts is currently set at USD 200,000. Spread Margin: The net difference between the outright customer maintenance margin requirements on each long and short contracts (using 50% for both ...
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