IBFX Lot sizing | Forex Factory

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IBFX Lot sizing

  • #1
  • First Post: Dec 13, 2007 3:25pm Dec 13, 2007 3:25pm
To anyone who uses IBFX, do I have this right? I just talked to customer support about their account types. I want to trade micro, although they offer 0.1 lots on mini which is esentially the same. Yes?
  • #2
  • Dec 13, 2007 3:27pm Dec 13, 2007 3:27pm
What did the CS guy tell you?
  • #3
  • Dec 13, 2007 3:29pm Dec 13, 2007 3:29pm
Quoting renegade7
To anyone who uses IBFX, do I have this right? I just talked to customer support about their account types. I want to trade micro, although they offer 0.1 lots on mini which is esentially the same. Yes?
Almost...

You open a mini account, in which 1 lot = $1.00 / pip (in GBPUSD).

But the system allows you to trade as low as 0.01 lot (microlot) = $0.01 / pip.

You can enter the lot size you wish from 0.01 (0.02 / 0.15 / 0.50 / whatever)

Hope it helps
  • #4
  • Dec 13, 2007 3:36pm Dec 13, 2007 3:36pm
Quoting opie999
What did the CS guy tell you?
That's what he told me, that Ic ould make a standard account mini by lot sizing or mini into micro. I also asked him about their position as a market maker and if they hedge client positions and he said that they don't have a dealing desk, so I said "Would you consider yourself an ECN then?" and he said he did not know what that was. So I asked him if their primary profits were from spreads and he said yes.
  • #5
  • Dec 13, 2007 3:37pm Dec 13, 2007 3:37pm
Quoting cesarnc
Almost...

You open a mini account, in which 1 lot = $1.00 / pip (in GBPUSD).

But the system allows you to trade as low as 0.01 lot (microlot) = $0.01 / pip.

You can enter the lot size you wish from 0.01 (0.02 / 0.15 / 0.50 / whatever)

Hope it helps
Right, ok that makes sense. Do you know how many lots they allow per order?
  • #6
  • Dec 13, 2007 3:40pm Dec 13, 2007 3:40pm
Quoting renegade7
Right, ok that makes sense. Do you know how many lots they allow per order?
I can't remember that. You'd better contact them

And also, the MT4 has a dropdown list of lot sizes. But you can type the amount you wish. You're not stuck to those options...
  • #7
  • Dec 13, 2007 3:46pm Dec 13, 2007 3:46pm
Quoting cesarnc
I can't remember that. You'd better contact them

And also, the MT4 has a dropdown list of lot sizes. But you can type the amount you wish. You're not stuck to those options...
Ok, I am on with them right now and they are saying 50 in mini 100 in standard...hmmm.
  • #8
  • Dec 13, 2007 3:49pm Dec 13, 2007 3:49pm
They also said 0.01 for standard and mini, which means I could open a standard and just use 0.01 for micro thereby increasing ammount of lots available.
  • #9
  • Dec 13, 2007 3:52pm Dec 13, 2007 3:52pm
Quoting renegade7
They also said 0.01 for standard and mini, which means I could open a standard and just use 0.01 for micro thereby increasing ammount of lots available.
Then you change the "size" of your microlots.

If you open:

- a standard account, 1 lot = $10 / pip (in GBPUSD)
- so 0.01 lot = $0.1/ pip

- a mini account, 1 lot = $1 / pip
- so 0.01 lot = $0.01/pip
  • #10
  • Dec 13, 2007 4:01pm Dec 13, 2007 4:01pm
Quoting cesarnc
Then you change the "size" of your microlots.

If you open:

- a standard account, 1 lot = $10 / pip (in GBPUSD)
- so 0.01 lot = $0.1/ pip

- a mini account, 1 lot = $1 / pip
- so 0.01 lot = $0.01/pip
Exactly.
Perfect!

Thanks!
  • #11
  • Last Post: Dec 13, 2007 4:15pm Dec 13, 2007 4:15pm
Quoting renegade7
I also asked him about their position as a market maker and if they hedge client positions and he said that they don't have a dealing desk, so I said "Would you consider yourself an ECN then?" and he said he did not know what that was. So I asked him if their primary profits were from spreads and he said yes.
Funny.
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