IB Student Trading Lab

IB Student Trading Lab

Overview

Interactive Brokers Group, a worldwide leader in market-making and broker-dealer services, invites college professors, high school teachers and their students to participate in The IB Student Trading Lab.

The IB Student Trading Lab is a partnership between IB and an instructor. The program enables educators to use IB’s PaperTrader account for free in their financial, computer science, business and other applicable classes. Students using the IB PaperTrader during the course of the academic year can work on financial technology or investment strategies assignments and projects, and will gain an in-depth understanding of the dynamics of the U.S. financial markets as well as forex trading. Our Trader Workstation provides students with the ability to trade forex and US stocks, options, futures, futures options, and bonds in a simulated account using real time-market data and offers a safe environment to apply trading strategies while learning how to improve risk-management skills.

Interactive Brokers is sponsoring this program to highlight the growing need for students in the fields of financial engineering/computational finance/financial mathematics.

IB Student Trading Lab
PaperTrader

The TWS PaperTrader account allows student traders to use the full range of IB trading facilities in a simulated environment so they can:

  • Use powerful features such as order types and algos in different trading platforms - without risk.
  • Learn market dynamics covering exchanges and new products.
  • Simulate and test their own trading strategies.
  • Program trading applications and test them through the TWS Application Program Interface (APIs).
  • Utilize various statements and reports to manage and evaluate their account portfolio.

All students will start with USD 1,000,000 of paper trading Equity with Loan Value, and this equity will reflect their trading activity as if the trades had executed in the real market.

Cash equity can be reset at any time through the student's Account Management.

This program is open to all college and high school professors within and outside the US, but requires the sponsoring instructor to apply for the student accounts and supervise the project within the guidelines of the lab. For the Application Process please see the Info for Educators tab above.


http://www.interactivebrokers.com/en/p.php?f=ibStudentTradingLab&p=overview

Info for Educators


Step 1: Application Process

IB now offers PaperTrading accounts that expire May 31, 2014. Please follow the steps below to open your account and then invite students to open their paper sub-accounts. You will be able to trade for your students when needed.

To open your account

  1. You must submit the initial IB Student Trading Lab registration form.
  2. IB will send a personalized email invitation to you with instructions on how to open an account.
  3. Once you have completed the process and received a confirmation email that your account is active, you can invite your students to open their own paper accounts.

To open student paper accounts

  1. Log into Account Management to send invitations to your students to open a paper trading account.
    Alternatively, IB can send the invitations to all of your students. Click here to send us a list of all student emails.
  2. Students receiving the electronic invitation should follow the instructions to complete the registration form. Please emphasize to students that they must make note of their username and password during the registration process.

Step 2: Trading Access

As noted above, your students will do their own trading, but you can also place trades when needed for any student account you supervise. To place a trade for a student account, create the order and then select the desired account from the order row Account field in Trader Workstation (TWS).

Login. You and your students can trade via different portals, all of which can be accessed with your IB username and password:

  • Browser-based or standalone Trader Workstation (TWS). The TWS is our most powerful, full-featured platform that supports trading of multiple, global assets using numerous order types and algos, and offers many sophisticated trading tools.
  • WebTrader - a scaled-down version with a simplified interface that may better serve the novice trader or one who generally trades a single instrument, or uses more basic order types.
  • Mobile Solutions - IB provides a family of mobile solutions that allow you to trade your IB account on the go from just about any mobile device.
    Click here for detailed information on a specific IB mobile solution.
  • Application Program Interface - program traders may build their own add-on applications in Excel (using DDE or ActiveX), C++, Posix C++, Java, and Visual Basic with our proprietary IB Application Program Interface (API), which requires connectivity via the TWS.
  • Products and Features. Participants can trade most US futures, options, stocks, futures options, bonds, and Forex products. Use most IB order types, and experiment with almost every aspect of the platform. Please see the Resource Center tab for links to reference and educational materials. Note that TWS provides full access while other portals may support limited product and order types.
  • Commissions, Margin and Trade Execution. IB standard commissions and margin rules apply (charged in paper equity). Trades entered into the paper trading account will not actually execute on any exchange or settle at a clearing house, but the executions price will be determined by real market prices and sizes.

Step 3: Account Management

You can manage your account and your students’ accounts through Account Management which is accessed from the Login menu on the IB website using their IB username and password. The following functions are available:

  • Account cash equity reset. All cash resets will appear on the user's statement. Only the professor can reset the cash equity in a student’s account.

  • Report management functionality
    As a professor, you can view statements for your account, your students’ accounts, and a consolidated statement including some or all accounts.
    • Generate Activity Statements - in a HTML/Web or PDF format. Statements can be daily or cover a custom range of dates.
    • Create Activity Flex Reports to build customized statements with specific fields, field order and activity period. The format is XML or TEXT (with 3 text separator options - Pipe, Comma or Tab)
    • Use Trade Confirms Flex Templates which allow the user to create customized Trade Confirmation reports by choosing specific fields, field order, and time period. The format is XML or TEXT (with 3 text separator options - Pipe, Comma or Tab)
    For more information, visit the Statements & Trade Confirmations page.

  • Password change. Please encourage students to record their username and password as this cannot be reset or retrieved by IB.

Comparison

The following grid summarizes the feature availability:


  Professors accessing their
own accounts
Students accessing their
own accounts
Professors accessing students'
accounts
 
Trading
TWS Yes Yes Yes
WebTrader Yes Yes Yes
Mobile Solutions Yes Yes Yes
API Yes Yes Yes
 
Reporting
Statements Yes Yes Yes
Activity Flex Yes Yes Yes
Trade Confirms Flex Yes Yes Yes
 
Account Administration
Cash Equity Reset Yes No Yes
Password Change Yes Yes No

Account Expiration

Please make a note of the date your account will expire so that you can archive your statements and other information before the account is closed.

Note:

All requests are processed on a timely basis. If you do not receive a confirmation email or the invitation within a week of submitting your request, please ensure that your email can receive emails from us. Click here to send us an email.


http://www.interactivebrokers.com/en/p.php?f=ibStudentTradingLab&p=prof

Info for Students


Step 1: Application Process

IB now offers PaperTrading accounts that expire May 31, 2014. Please follow the steps below:

  1. Follow the instructions in your email invitation to complete the registration form. Please remember to record your username and password during registration as IB will not be able to retrieve this information.
  2. PaperTrading accounts will be approved and activated within 1-3 business days. You can check the status of your account by logging into Account Management using your IB username/password.

Step 2: Trading Access

Login. You can trade via different portals, all of which are accessed using your IB username and password:

  • Browser-based or standalone Trader Workstation (TWS). The TWS is our most powerful, full-featured platform that supports trading of multiple, global assets using numerous order types and algos, and offers many sophisticated trading tools.
  • WebTrader - a scaled-down version with a simplified interface that may better serve the novice trader or one who generally trades a single instrument, or uses more basic order types.
  • Mobile Solutions - IB provides a family of mobile solutions that allow you to trade your IB account on the go from just about any mobile device.
    Click here for detailed information on a specific IB mobile solution.
  • Application Program Interface - program traders may build their own add-on applications in Excel (using DDE or ActiveX), C++, Posix C++, Java, and Visual Basic with our proprietary IB Application Program Interface (API), which requires connectivity via the TWS.

Products and Features. You will be able to trade most US futures, options, stocks, futures options, bonds, and forex products. Use most IB order types, and experiment with almost every aspect of the platform. Please see the Resource Center tab for links to reference and educational materials. Note that TWS provides full access while other portals may support limited product and order types.

Commissions, Margin and Trade Execution. IB standard commissions and margin rules apply (charged in paper equity). Trades entered into the paper trading account will not actually execute on any exchange or settle at a clearing house. However, the price of your executions will be determined by real market prices and sizes.


Step 3: Account Management

Manage your account through Account Management which is accessed from the Login menu on the IB website using your IB username and password. The following functions are available:

  • Account cash equity reset. Students are encouraged to check with their instructor before utilizing this feature. All cash resets will appear on the user's statement.
  • Report management functionality
    • Generate Activity Statements - in a HTML/Web or PDF format. Statements can be daily or cover a custom range of dates
    • Create Activity Flex Reports to build customized statements with specific fields, field order and activity period. The format is XML or TEXT (with 3 text separator options - Pipe, Comma or Tab)
    • Use Trade Confirms Flex Templates which allow the user to create customized Trade Confirmation reports by choosing specific fields, field order, and time period. The format is XML or TEXT (with 3 text separator options - Pipe, Comma or Tab)
  • Password change. You must make a note of your username and password as it cannot be reset or retrieved by IB.

Reference Materials

Students are encouraged to view the Resource Center tab.


Account Expiration

Please make a note of the date your account will expire so you that you can archive your statements and other information before the account is closed.


http://www.interactivebrokers.com/en/p.php?f=ibStudentTradingLab&p=student

Contact Information

If you have any questions regarding this program, or issues with the application or the PaperTrading account set-up, you may email us at ibstudenttradinglab@interactivebrokers.com.

Note:

Please do not contact the IB Customer Service or the Technical Assistance Group as they do not support the Trading Lab.


http://www.interactivebrokers.com/en/p.php?f=ibStudentTradingLab&p=contact

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