WITH NO MINIMUMS! Please answer the poll. Comments also, greatly appreciated. I am just curious. I am completely happy with my Market Maker. But I wanted IB to see the answer to this poll. Michael B.
It's Saturday and slow in ET. But could you imagine being able to use IB for your spot Currency trading out of your universal account? I understand their spreads, hours and liquidity, is improving quickly. I think that if your happy where you are you can still vote YES in the poll, to show the importance and flexibility that one unit increments starting at 1 going up to lot sizes and higher are desirable. As to how the commission structure would work...well, it should cater to both the small trader and larger trader. Remember your roots IB. Michael B.
Perhaps Tomorrow morning will see a few more votes. Spot Forex is here to stay, with its liquidity and trading hours spreading across three major sessions. Besides, Currency Trader sounds better and more legitimate than DayTrader. Michael B.
IB's commission on Forex really doesn't make trading small size feasible. (in my opinion at least) I think most small traders would prefer to see commissions elimitated before lowering minimums on size. I don't trade forex, but I have put on positions in currency futures options.
Agree that lower commissions are higher priority than no minimum size as no minimum size with the current commission structure would not benefit those trading small positions. I voted yes but this isn't that high on my priority list. http://www.elitetrader.com/vb/showthread.php?threadid=52047
So this means 25001, 25002....and so on right? but what about 1-25000 ? That would be kewl....say a $1.00 minimum, like the equity commish? I guess if the IB model were commish-free it would yield them nada, since they simply pass the ideal pro price on, without delaing in between... I surely don't want to scale in with 500 units with 10 trades and pay 10dollar either! This is not possible, I guess and a stupd poll. Just a pipe dream... Michael B.
If OANDA would just get on with refining their charting software, there'd not be a reason for small traders like me to even consider a switch.
Definitely. Who would choose spotFX dealers like GFT and Oanda over a Pro Firm like IB? -IB has a FREE API, which means unlimited 3rd party software support. You can program anything u dream of and plug it in. -IB gives access to Futures, Stocks, Options, FX all under on account. -IB does not charge u withdrawal fees unlike some Spot FX dealers who charge may charge about US$30. -IB provide limited protection on funds in your accounts. (for details, consult IB website) -IB gives free data for Futures and FX. -IB has GREAT service. (online that is. currently, the IB phone-in service have been temporary taken over by Trolls and constipated Zombies so becareful when calling in, chances of leaving unscattered are low) I'm running 2 systems right now, one on IB trading standard lots on Futures. The other on Oanda, trading mini-lots (i need the ability to scale in). How would I wish i can put everything under one IB account!