General Category > Shares

Do I need Interactive Brokers Market data subscription to buy shares?

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argentum:
Hi,

So I opened an IB account a while back. My account is not funded yet (I'm still evaluating the platform). When I try to preview buy a share (tried VWRD and NPN) I get a popup that says "You currently do not have trading permission for this instrument type. Update trading permissions from the Trade Configuration page in Account Management". I have stock trading permissions enabled for most regions.

So my question for you guys on IB: Do I need to buy market subscription data just to be able to trade? That would be a deal breaker for me, because a JSE subscription is $10 a month. Hopefully it's only because my account is not funded yet, or because IB is in the middle of merging Account Management with Client Portal.

Patrick:
Nope, I don't have one and transact fine.

IndustryGuy:
The market subscription data is in all likelihood just to get live pricing data from the JSE. You can still transact on the JSE, but you will not know at what prices you are buying or selling (cause your JSE data will be delayed by 15 mins) until the trade has been done. That $10 is what the JSE charges, not IB, similar to the R95 a month they charge locally for live data. Bloody con if you ask me and I personally can't wait for A2X to get more listings. It will make that live data fee obsolete.

jaDEB:
I believe for long term no, but day trading you will need live data.

I use 15 min delayed data, as I do long term trading. Also I trade thru a broker, not online.

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