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Connecting interactive brokers to metatrader 9 replies
Any brokers bigger than Interactive Brokers? 5 replies
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No stop orders with interactive brokers? 0 replies
Interactive Brokers and Metatrader 0 replies
DislikedHello I would like to hear from those who have accounts with either of these 2 brokers what is your experience with them? I know IB now requires people to have 10 million in networth to trade FX on margin. As for Lmax, are they trustworthy? They require 10,000 minimum to open an account. Please share your experience.Ignored
Disliked{quote} I had an account with Lmax some time ago to trade some signal service or other, which did not work out, so closed account. Lmax refunded my funds without delay or question. So my experience is that they are honest.Ignored
Disliked{quote} Thanks for your reply. Good to know that they honest. I assume the amount was 10k or above correct?Ignored
DislikedLMAX trading conditions - execution, platform stability and so on, are in my opinion, flawless. If you do daytrading, then they are definitely good. As for swing traders, however, there's the matters of swaps. And in that sense, they are one of the worst. I've been tracking their swap-rates and they are between bad to horrible. As of today (17.03.2020), their rates are officially "insane". Worst case: EUR/NZD long position would cost you 4.01 points per night! If I would have more capital, I would start to look elsewhere for swing trading.Ignored
Disliked{quote} No I think the guy that was going to provide the service was an introducing broker of some kind. I regret closing the a/c with Lmax as they do have a good reputation. But did not have a good feeling about the person the guy I was dealing with so closed everything. Good trading.Ignored
Disliked{quote} There are no positive swaps with LMAX. You can swing trade with them but you really need to pick your instruments and directions in order to minimize the swap costs. With 50K you can get reasonable trading costs with Swissquote. It's a bank, so the money would be safe. Swaps are better too. Execution is probably you ordinary market-maker variety, but would be good enough for swing trading.Ignored
Disliked{quote} The guy you are referring to was your Lmax account manager or are you talking about IB? I am confused.Ignored
Disliked{quote} There are no positive swaps with LMAX. You can swing trade with them but you really need to pick your instruments and directions in order to minimize the swap costs. With 50K you can get reasonable trading costs with Swissquote. It's a bank, so the money would be safe. Swaps are better too. Execution is probably your ordinary market-maker variety, but would be good enough for swing trading.Ignored
Disliked{quote} I hate to repeat myself. What they told you at the support does not matter. Sure, they would credit the positive swap for you if they had any. On 17.03.20, out of 28 main currencies they have ONE positive swap instrument. Good luck getting rich with that 0.21 point they credit to your account while everything else is much larger negative.Ignored
Disliked{quote} Just one more try, then I'm done. "Then it is not LMAX fault, interest rates in currencies are negative in general". No, they are not. And it is their fault that their swaps are expensive. Brokers take interbank rates and add a fixed negative interest on top of it. All brokers do it. It is only a question of how much they add. LMAX and IB add a lot because they can. "They are operating as they should you weren't clear on that." I was clear on the fact that their swaps are expensive. I'm sure they operate "as they should" by having expensive...Ignored