IB new forex spreads

Discussion in 'Forex Brokers' started by oktiri, Feb 27, 2005.

  1. TGM


    Thank you for posting these.

    Why are the symbols inverted? usd/aud instead of aud/usd etc...My system is the other way around?
    #21     Feb 28, 2005
  2. def

    def Sponsor

    I haven't traded FX in the past so I really don't know. We also just added a second bank and a third and fourth are on the way. Thus the best I can say is that the spreads should be competitive with the inter bank markets.

    TGM, I'll have to let someone else answer that
    #22     Feb 28, 2005
  3. to IB:
    Why don't you display the last traded price / volume ?

    I see on your internal TWS screenshots (posted on page 3 by Steve) that your employees seem to get this information, but not your customers.

    I'd say there is no reason for that...

    Is it possible you add the last traded price / vol to the datastream ?
    #23     Feb 28, 2005
  4. def

    def Sponsor

    that screen shot is from an account set up as a retail account (I know because it was my account).
    #24     Feb 28, 2005
  5. hmm....

    However, for the EUR/USD I see a quote like yours with my account, but the field "Last" displays "C1.3243".

    I have never seen a trade dissemination in IDEALPRO. Only "C...".

    However, I see Last Prices for IDEAL.

    Am I doing something wrong ?
    Does the account need to be set up for this ?
    #25     Feb 28, 2005
  6. I have never traded with IB, and i don't know about their service , but what i like about them, that they will post a replay to any single post , without regard to it is dumb or outrage question.
    You might never know , what will be that trader after 10 years.
    #26     Feb 28, 2005
  7. IB seems to be Honest Spot Forex....

    I trade with Oanda because I have no minimum incremental scales. As far as their honesty, well nobody really knows...They have done right by me as far as I know. The floating spreads can be troubling though. Question#1: Does IB have variable spreads?

    I can trade 1 unit....or 573 units.....or 10,000 units (mini) of 100,0000 units (lot) or in between any of this with 1 single unit....

    From what I can gather at IB you can trade 10,000 units or more. that is ...10,001...2....3.. Question#2: is this one unit incremental true? IB?

    Question#3: Can you go long and short at the same time in a pair at IB?

    Question#4: What do IB users use for charts?

    Question#5: Does IB pay a competitive interest rates in USD account for the cash and the leveraged holding in the pairs. Question#6: How is it earned/paid?.... Daily at rollover? Oanda has a unique way of dealing with this interest...

    Michael B.
    #27     Feb 28, 2005
  8. I have used IB for Euribor and short sterling futures for the past couple of years and they are fine for that.

    However their customer service is pants - based in Switzerland and trying to get a quick answer on the phone is very difficult st times. As you would be dealing with them rather than with an exchange as you do on futures that could be an issue.

    I would also like the variable spread answered please!
    #28     Feb 28, 2005
  9. TGM


    Never mind the question. I am new to IB. I was looking at your Jpeg and was looking at the description of the symbols which looked back/assward to me cuz I thought that WAS the symbol.


    Lone Eagle,

    I opened up an IB account for longer term stock positions. With that said, I would think IB could be an ideal forex ECN because of how many customers they have. The markets appear to be tight. It appears you can even use the booktrader for quick forex order entry. We will see on a number what they look like.
    #29     Feb 28, 2005
  10. if one places an small order in between the bid / ask of the dealers

    on IDEALPRO FX ... does that
    retail customer's order become
    the new NBBO ?

    I think it used to be this way , but am not sure now if this is the case
    #30     Feb 28, 2005