No Straddle at IBFX....

Funny thing happened tonight . Wanted to play a straddle on a currency and could-Not place second half of the Order .... called them up and they said That since the new Hedge Rule they will not allow an Order in the other direction Even if the first order closes out before the second order is activated ..... They will not take an Order in the opposite direction period .... they called it a technical problem and don't know when they will get it fixed .... Hence no straddle Orders at IBFX untill further notice .... any one-else having this problem with their brokers and which Brokers ...?.... would be nice to know ....

Just get the hell out of IBFX - i did the day they implemented their crappy interpretation of No hedge rule last week.

When I called them about it, they made it a point that they did so to prevent hedging in any way imaginable - this means taking out (disabling) the ability to place orders of opposite direction even if the orders are pending orders.

It is their intention by design and not a technical problem.

Will they change it? If they do, it will take several weeks to months.

What will you do about it? You have either:

A) Wait indefinitely and while waiting, will have limited trading tools at hand.

or

B) Move to another broker that allows this kind of trading.


Give them your piece of mind. Close the account and trade elsewhere.

why are you still with NFA broker ? Get the hell out of there. Go for FSA broker

Hey ragnakore & forexisfx, what brokers you guys using.
Ive had enough of this blocking the pending orders. IBFX has a crazy or lazy no hedging implementation.

Currently checking FXDD on a demo.

cheers scalpz

Huh? That's ostensibly the purpose of the damn rule. One trade cancels the other and you're flat. Unbelievable! Close your account.