Interactive Brokers - Retail US Clients Requirements | Forex Factory

Options

Permalinks
Print Thread

Similar Threads

Interactive Brokers margin requirements and currency leverage 3 replies

Any brokers bigger than Interactive Brokers? 5 replies

No stop orders with interactive brokers? 0 replies

Interactive Brokers and Metatrader 0 replies

Interactive Brokers - Retail US Clients Requirements

  • #1
  • First Post: Apr 21, 2020 6:02pm Apr 21, 2020 6:02pm
Does anyone here have account with Interactive Brokers for their Spot Forex from US? When I asked them about it I was told if you are US resident and want to trade forex with leverage need at least a net worth of $10M to be eligible contract participant. Trying to understand if that is really the case.
  • #2
  • Apr 24, 2020 12:09pm Apr 24, 2020 12:09pm
thats what i heard a few years back. i dont think now is still applicable? the easiest way is, u create a demo account and ask their support team.
  • #3
  • May 8, 2020 9:37am May 8, 2020 9:37am
IBKR has 2 types of forex

Inserted Code
Type 1 : Spot forex (cash)
Routing : IdealPro
Minimum unit : 20,000 (lot size is 0.2 / approx $2 per pips)
Commission : 2.00 (when you enter) + 2.00 (when you close position)
Total commission : $4.00
 
also can trade less than 20k unit, but routing is Odd lot order
Minimum unit : 1,000 (lot size is 0.01 / approx $0.10 cents per pips)
Commission : 2.50 (when you enter) + 2.50 (when you close position)
Total commission : $5.00

Inserted Code
Type 2 : Forex CFD
Routing : Smart
Minimum unit : 1,000 (lot size is 0.01 / approx $0.10 cents per pips)
Commission : 2.00 (when you enter) + 2.00 (when you close position)
Total commission : $4.00
10 cents x 40 pips = $4.00
if you only trade 1,000 / 0.01 lot size, need +40 pips just to cover the commission / odd lot order would be +50pips
10k unit (1 dollar per pips) = need +4 pips to cover commission / odd lot order is +5 pips
20k unit (2 dollar per pips) = need +2 pips to cover commission / odd lot order is +2.5 pips

stay away from IBKR unless you trade big lot size, commission is quite high
  • #4
  • Last Post: May 10, 2020 2:15pm May 10, 2020 2:15pm
Quoting acertablet
IBKR has 2 types of forex Type 1 : Spot forex (cash) Routing : IdealPro Minimum unit : 20,000 (lot size is 0.2 / approx $2 per pips) Commission : 2.00 (when you enter) + 2.00 (when you close position) Total commission : $4.00 also can trade less than 20k unit, but routing is Odd lot order Minimum unit : 1,000 (lot size is 0.01 / approx $0.10 cents per pips) Commission : 2.50 (when you enter) + 2.50 (when you close position) Total commission : $5.00 Type 2 : Forex CFD Routing : Smart Minimum unit : 1,000 (lot size is 0.01 / approx $0.10 cents per...
IBKR does not allow Spot forex for US residents unless you are an "ECP" in other words have net worth of at least $10M. Meanwhile I have heard many talk about IBKR in the other threads, looks like most of them are not based in US and hence they different account minimum and lot requirements.
0 traders viewing now