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It is instantaneous, but you said that you are on free version and did not buy NT yet
So this is what I meant, in a sense that until your situation changes and you are eligible for the CME Waiver program.
Sorry for this confusion from my side.
You don't have to think that IB will charge you interest on your losses, it is better to think that you will pay interest on any currency on which you have a negative balance.
Successful people will do what unsuccessful people won't or can't do!
@Robert Carrillo can confirm, but I believe NT is not needed in this equation. If you have an IB funded account, then IQFeed can use their utility to verify that and thus grant the CME fee waivers. IB comes with TWS which allows you to place trades. NT is not necessary for this to work in this instance.
Thanks @Fadi ...ok, I ll just get the live license and follow the remaining cme validation steps then..thanks again. (btwa bit off topic.. I see that you like to trade CL...I intend to trade CL too..for a start) :P
Hello Mike, ok thanks for the input. I need NT...my indicator is in it lol...
NT is not needed if you are to chose IQFeed as your data provider
Yes they do have their own application that runs in the background, and it does check for CME Waiver eligibility.
But he is going to use Kinetick, so that's a bit different and he needs NT....
Successful people will do what unsuccessful people won't or can't do!
For IQFeed users the process for obtaining waivers through IB is different than for other brokers and does involve a plugin for IQFeed client, but that is the only difference. All other requirements for qualification still apply, including running IQFeed in a trade-capable software which is supported by IB.