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Interactive Brokers - experiences and opinions

  • #181
  • Aug 2, 2008 7:13am Aug 2, 2008 7:13am
its $2.50, not $250....
  • #182
  • Aug 2, 2008 3:29pm Aug 2, 2008 3:29pm
what is the intraday margin for trading euro fx futures with IB? The website says $3000+ which kind of bums me out...
  • #183
  • Aug 2, 2008 3:34pm Aug 2, 2008 3:34pm
Quoting pippero
what is the intraday margin for trading euro fx futures with IB? The website says $3000+ which kind of bums me out...
Intraday margins were raised to overnight levels on a host of products due to the recent volatility. They'll probably shift back at some point.
  • #184
  • Aug 3, 2008 5:07am Aug 3, 2008 5:07am
It's a shame that IB doesn't provide a fully functioning demo so that traders may get aquainted with TWS before an account is opened.

It seems that the difference between IDEAL and IDEALPRO is simply
the order size (MM for < 25,000 USD and ECN for > 25,000 USD orders). Otherwise there really seems to be no distinction made by TWS. If this is so, how can the same type of fx order apply to a trade that has as its end a security denominated in a foreign currency (stock, bond, etc.) and one that is a leveraged fx trade. A destinction would have to be made, or?
  • #185
  • Jan 23, 2009 7:51am Jan 23, 2009 7:51am
Hi all,

I opened an account with IB, i'm demoing on my paper reading account on eur/usd, so it is not real, but every time I make a buy or sell I take slippage, and I'm not filled at the price I clicked on the book.

Today, in the european session, I tested more less 10 buy or sell, and always takes slippage.

I ask to the real user of IB if there is the same slippage in the real platform with real money, or if it is regarding to the paper account.

many thanks for the replyes and opinion
money... it's a gas baby, can't you take it! venezia
  • #186
  • Jan 23, 2009 12:54pm Jan 23, 2009 12:54pm
How do you place your orders?
Do you use FxTrader?
I use BookTrader with limit orders (left click) and I never
experience any slippage this way.
With market orders it is a different thing.
  • #187
  • Jan 24, 2009 12:41am Jan 24, 2009 12:41am
Quoting pescador
How do you place your orders?
Do you use FxTrader?
I use BookTrader with limit orders (left click) and I never
experience any slippage this way.
With market orders it is a different thing.
I place stop order.
I use booktrader too, but to use limit order sometimes may be not executed...

Do You use demo or real money?
money... it's a gas baby, can't you take it! venezia
  • #188
  • Jan 24, 2009 8:37am Jan 24, 2009 8:37am
I have tried both demo and live.
I have not got much experience with stop orders - I assume you enter with them by right-clicking.
Stop orders are basically the same as market orders, one can expect slippage on them. I only use them if i have to get out of a bad trade at any price.
In all other situations I use limit orders.
If my limit order does not get filled to enter a trade, I just wait for the next good setup. But this happens very seldom.
Most of the time I get the fill that I want with limit orders.
But I only scalp at liquid times.
  • #189
  • Jan 24, 2009 10:12am Jan 24, 2009 10:12am
Quoting pescador
I have tried both demo and live.
I have not got much experience with stop orders - I assume you enter with them by right-clicking.
Stop orders are basically the same as market orders, one can expect slippage on them. I only use them if i have to get out of a bad trade at any price.

Yes they are

In all other situations I use limit orders.
If my limit order does not get filled to enter a trade, I just wait for the next good setup. But this happens very seldom.
Most of the time I get the fill that I want with limit orders.
But I only scalp at liquid...
Yes, but I folow a trading system and it is difficult for me to not execute an order.... don't you think so?
money... it's a gas baby, can't you take it! venezia
  • #190
  • Jan 24, 2009 10:27am Jan 24, 2009 10:27am
Well, with every broker you can have either a price guarantee (limit order) or an execution guarantee (market and stop orders) but not both at the same time.
This is just the way it is. It remains the trader's decision what he prefers or which one fits better into his strategy.
According to my experience with IB, the failed execution of limit orders are so rare due to their very good liquidity, that they do not interfere with my trading strategy.
Of course if you try to get filled within the spread do not expect it to work all the time.
I only trade manually and only at liquid times, so I can imagine that with other strategies and/or other times stop or market orders might be a better deal.
  • #191
  • Jan 28, 2009 2:12am Jan 28, 2009 2:12am
Quoting pescador
Well, with every broker you can have either a price guarantee (limit order) or an execution guarantee (market and stop orders) but not both at the same time..
in my method of trading I have the price to open a long position higher than the market price in the moment that the singnal was generated. Ex, now eur usd is 1.3267, my entry long price may be 1.3290.

In this case If I pass a limit order the order is instantly filled at 1.3267, so the best should be a stop order, but with slippage problems.

I'm testing with stop limit order with 1 tick of difference between the stop and limit price, but sometimes, in the paper tws, order is not filled...any suggestions?
money... it's a gas baby, can't you take it! venezia
  • #192
  • Jan 29, 2009 4:20pm Jan 29, 2009 4:20pm
Hi all,

Im lost. .. ever here of this. . . .

I want to open an account with IB, for forex, stocks and who knows what else. stocks and forex are my area.


but i keep getting up an minimum balance to open an account of USD 4,000 or equiv.

Is this correct?

Welcome to the IB electronic registration system. Our accounts are geared towards professional traders and investors, and we require the following for all customers:

  1. Good or extensive product knowledge for any product you wish to trade.

  1. Prior execution of 100 or more trades (any product).

  1. A minimum equity deposit in cash or stock of USD 10,000 (or USD equivalent) or USD 4,000 for IRA Accounts.





surely its 1k or 2k, but 4 is extreme?

whats an IRA????????

can I have your thoughts on the matter.

Thanks
Pipa

  • #193
  • Jan 29, 2009 4:26pm Jan 29, 2009 4:26pm
from reading this its 10K. . .


In order to open a new account the following minimums are required:
Category Required Deposit Individuals, Trading Group Masters, and Broker Masters USD 10,000 (or USD equivalent) IRAs USD 4,000 (or USD equivalent) Individuals age 21 or younger USD 3,000 (or USD equivalent) Advisor and Broker Clients USD 5,000 (or USD equivalent)
  • #194
  • Jan 29, 2009 4:26pm Jan 29, 2009 4:26pm
The basic forex trading account is 10k minimum, IRA is explained on their site http://www.interactivebrokers.com/en...n/faqs/ira.php.
The breaking of a wave cannot explain the whole sea.
  • #195
  • Jan 29, 2009 4:42pm Jan 29, 2009 4:42pm
Why do you think that's too much? Its pretty rare to find brokers like IBFX that let you make tiny deposits. 10K should be the min for any broker IMO.
  • #196
  • Jan 29, 2009 5:02pm Jan 29, 2009 5:02pm
Quoting LongToBeFree
Why do you think that's too much? Its pretty rare to find brokers like IBFX that let you make tiny deposits. 10K should be the min for any broker IMO.
With a min. deposit of 10k you can't do a "100$ to 1 Mio in a YEAR!" Thread.
  • #197
  • Jan 29, 2009 5:19pm Jan 29, 2009 5:19pm
Quoting Tjpld
With a min. deposit of 10k you can't do a "100$ to 1 Mio in a YEAR!" Thread.
LOL
The breaking of a wave cannot explain the whole sea.
  • #198
  • Edited 7:57pm Jan 29, 2009 7:56pm | Edited 7:57pm
IRA is retirement account
10K isn't that much when you consider the margins required for 1 futures contract nowadays. Ther are no mini 0.1 lots. Full contracts. 4K NQ, 6K YM, 4K 6E
Of course, you can trade options for far less. Open the account with 10K (borrow it from Madoff, he's not using it), then after 1 month request half of it back.
ps: sinkorswim $3500
MBt - ? $2000 ???
  • #199
  • Mar 3, 2009 11:17pm Mar 3, 2009 11:17pm
Please tell ur good or bad expirience regarding this broker,,, seems i cant find many people talking bout this broker,,,,,,so might be they are the best,,,,
  • #200
  • Mar 3, 2009 11:27pm Mar 3, 2009 11:27pm
10K to open account. Most instruments world wide. Good commission, good spreads, a-bit clunky order entry interface (sorta like spreadsheet), api. Tend to suspend 50% day-trader margins when volatility goes up a bit. FX: do not offer mini-lots, but less than full (50% on some, varies).
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