paid locates

Discussion in 'Interactive Brokers' started by TimMykes, Oct 22, 2020.

  1. TimMykes

    TimMykes

    does IB support paid locates ???????

    all the paper trading slime on Twitter seem to have accounts at bucket shops that do .
     
  2. Robert Morse

    Robert Morse Sponsor

    We have both. The free locates from Wedbush Securities and the premium ones from Velocity Capital.

    upload_2020-10-22_14-48-7.png
     
    Axon likes this.
  3. TimMykes

    TimMykes

    I know they are out there, , that not my question
     
  4. Word of caution though. One day you may wake up to an account value of $0 with these bucket shops.
     
  5. ajcrshr

    ajcrshr

    You can pre-borrow with portfolio margin at IB, better get up early though since the borrows don't last long anywhere but especially IB. If you can't afford the 100k min for portfolio margin, you probably don't have to worry about losing $$ at any SIPC member broker you consider a "bucketshop" since they cover 250k cash.
     
    comagnum likes this.
  6. realtrades

    realtrades

    No go with a regular account at IB, but what's wrong with the US brokers out there that do offer paid locates and are insured by SIPC and are with FINRA?
     
  7. TimMykes

    TimMykes

    Not sure why IB doesnt offer paid locates to anyone, since they make a killing on the fees

    I want the last minute locate reserve when the opportunity presents, not to have to get up at 6am to reserve.
     
  8. comagnum

    comagnum

    This is a scan from IB of the largest % losers with shares for shorting, not exactly a lack of opportunities.


    upload_2020-10-23_8-57-18.png
     
  9. realtrades

    realtrades

    They do offer as

    Exactly, I short with IB, if something is not available, I move on to the next one, and I see people say they paid for locates on names available at IB, and many times some that are not available turn out to be blessing as they squeeze shorts like crazy.
     
    comagnum likes this.
  10. TimMykes

    TimMykes


    more proof many here dont actually trade, they just look
     
    #10     Oct 25, 2020