Is Interactive Brokers really #1? | Forex Factory

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Is Interactive Brokers really #1?

  • #1
  • First Post: Aug 20, 2008 8:10am Aug 20, 2008 8:10am
they're the best forex retail broker according to Stocks & Commodities Magazine. next runner up is FXCM.

do you guys agree that Interactive Brokers is #1 or there is a better alternative?
  • #2
  • Aug 20, 2008 11:00am Aug 20, 2008 11:00am
Quoting Geelong_Cats
they're the best forex retail broker according to Stocks & Commodities Magazine. next runner up is FXCM.

do you guys agree that Interactive Brokers is #1 or there is a better alternative?

Well if they show FXCM as #2 then I would highly question them listing IB as #1.
  • #3
  • Aug 20, 2008 11:31am Aug 20, 2008 11:31am
Quoting Geelong_Cats
they're the best forex retail broker according to Stocks & Commodities Magazine. next runner up is FXCM.

do you guys agree that Interactive Brokers is #1 or there is a better alternative?
Seems more likely that IB and FXCM pay the most in advertising with them.
  • #4
  • Aug 20, 2008 11:33am Aug 20, 2008 11:33am
IB is a good broker and you can trade anything you want there, however their platform is NOT the most user friendly and the FX side of things still really needs some work. JMHO
Same Whore .... Different Dress
  • #5
  • Edited 12:11pm Aug 20, 2008 11:44am | Edited 12:11pm
IB is one of the best.
The help desk sucks ,but the rest is 5 stars.
"according to Stocks & Commodities Magazine. next runner up is FXCM"
Can you give us a link where we can check?Where is this "according to Stocks & Commodities Magazine"?
  • #6
  • Aug 20, 2008 12:15pm Aug 20, 2008 12:15pm
Quoting FrankTheTank
Well if they show FXCM as #2 then I would highly question them listing IB as #1.

Right on the money. If fxcm is #2, then you know something is funny about the rankings. I woulnt open an account with either one even if they offered 0 pip spreads. Many people have complained about them, so I wouldnt even think twice about staying away from those two.
  • #7
  • Aug 20, 2008 1:18pm Aug 20, 2008 1:18pm
Quoting ILclitoride
IB is one of the best.
The help desk sucks ,but the rest is 5 stars.
"according to Stocks & Commodities Magazine. next runner up is FXCM"
Can you give us a link where we can check?Where is this "according to Stocks & Commodities Magazine"?
Clever disguise Moe......
Same Whore .... Different Dress
  • #8
  • Aug 20, 2008 2:03pm Aug 20, 2008 2:03pm
They have the lowest commissions of any retail ECN, the best swaps too, but need to fix their cross-rate margins (and the 2-hour daily kiwi closure). However, I agree FXCM at #2 doesn't make any sense. By virtue of even listing dealing desks, the magazine lost all credibility in that poll.
  • #9
  • Aug 21, 2008 12:13am Aug 21, 2008 12:13am
Out of the 3 I've traded with, I would rank them thusly:

1. IB

2. Oanda

3. FXCM (A very distant third I might add).
  • #10
  • Aug 21, 2008 12:27am Aug 21, 2008 12:27am
If you regard commission as cost of business, there really is no other broker in the retail sphere who better IB. The charting is shite, but there are a million packages out there that will do the job.
The breaking of a wave cannot explain the whole sea.
  • #11
  • Aug 21, 2008 5:10am Aug 21, 2008 5:10am
Quoting ILclitoride
IB is one of the best.
The help desk sucks ,but the rest is 5 stars.
"according to Stocks & Commodities Magazine. next runner up is FXCM"
Can you give us a link where we can check?Where is this "according to Stocks & Commodities Magazine"?
i am not making this crap up. this is stock and commodity's reader's choice award. they have a lot of cataogries and IB won most of them. not sure the issue number, but they did rank them as #1.

i cannot give you a link because it is not a free magazine where you can just download a free copy off google search.

why is it hard to accept IB and FXCM as the magazine top 2? what is your list for top 5? it is a list of which brokers will screw you over the least, since it is pretty much the nature of the industry. there is a fine line between careful and paranoid.
  • #12
  • Aug 21, 2008 8:08am Aug 21, 2008 8:08am
Geelong,

The only thing you are making up is that someone said you were making it up. I dont know why anyone would care who is ranked num 1 or 2? Does that help you win more trades, you are a trader right?
  • #13
  • Aug 21, 2008 8:21am Aug 21, 2008 8:21am
Quoting Craig
If you regard commission as cost of business, there really is no other broker in the retail sphere who better IB. The charting is shite, but there are a million packages out there that will do the job.
...I have used many different brokers and none compare, virtually no slippage, execution immaculate and incredibly low spreads, commissions, costs in general. Charting sucks and so do their help desks, but then again, what help desks are ever any good...
Never say never.
  • #14
  • Aug 24, 2008 7:04am Aug 24, 2008 7:04am
Quoting Geelong_Cats

why is it hard to accept IB and FXCM as the magazine top 2?
I can accept FXCM on 1 place.The problem is not this.
But it is difficult for me to accept some information that has not been proved, or does not come from a valid source.
  • #15
  • Sep 28, 2008 6:38am Sep 28, 2008 6:38am
I`m with IB and what I do notice is the following.

suppose I place my buy order at 1.4650 and when it reaches that price I see 12.1m at the bid.
12m goes and my 100,000 are left.
In come more orders, 5.1m now and those 5m get matched.

in short, the big orders always seems to be filled first.

anybody else noticed this?
  • #16
  • Sep 28, 2008 11:01am Sep 28, 2008 11:01am
Quoting yonnie
I`m with IB and what I do notice is the following.

suppose I place my buy order at 1.4650 and when it reaches that price I see 12.1m at the bid.
12m goes and my 100,000 are left.
In come more orders, 5.1m now and those 5m get matched.

in short, the big orders always seems to be filled first.

anybody else noticed this?
The liquidity is probably being dropped down a level, not executed. If your order of 100k is the best bid, and the liquidity providers up their bid to your level, you'll see the total bid as x million + 100k (in your ex, 12.1m and 5.1m). If they drop their bid to the next lower pip level, just your 100k will remain. It may appear as if the x million was executed, but it was most likely just the LPs dropping their bid down.
  • #17
  • Sep 28, 2008 11:57am Sep 28, 2008 11:57am
Quoting Geelong_Cats
i am not making this crap up. this is stock and commodity's reader's choice award.
You don't have to make it up, just think about it a little. These are readers' choice awards, meaning they take a poll of readers. Since most users naturally recommend the software or service which they happen to be using, these awards are nothing more than popularity contests, almost universally won by the companies who have the most customers. That is not an infallible rule, but pretty reliable. BTW, having a lot of customers is correlated with advertising expenditures in the magazine.

That being said, I would recommend IB mostly highly for a retail account.
  • #18
  • Sep 29, 2019 9:27am Sep 29, 2019 9:27am
Quoting johnedoe
{quote} Clever disguise Moe......
Hi, I was looking for a broker and came across your post here on forexfactory. how is or was your experience with Interactive brokers ? order executions ? was it slow ? re-quotes ? slippage ? thank you, RB
  • #19
  • Sep 29, 2019 12:19pm Sep 29, 2019 12:19pm
I am confused about this broker
  • #20
  • Edited 1:10pm Sep 30, 2019 12:51pm | Edited 1:10pm
Quoting ar72212
I am confused about this broker
we are in the same boat. I have 3 or 4 choices : TD ameritrade, IB , Cryptorocket, fxchoice. how about yourself. RB
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