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Opinions and Experiences with Hedging and Martingale 89 replies
Experiences with my brokers on updating my email address 16 replies
Any brokers bigger than Interactive Brokers? 5 replies
experience with ACM broker, EFX and Interactive Brokers 3 replies
Interactive Brokers and Metatrader 0 replies
Quoting WTBDislikedYou need a minimum of 25k account with IB, right?Ignored
Quoting narafaDislikedI am emailing them for this issue?? Is it the minimum lot size of $25,000 or you should have a minimum equity of $25,000 to be able to trade forex in the first place...The examples on the website are a little bit confusing..Ignored
Quoting ZazzyDislikedhave you figured this out? I didnt find the answer also
I think they are talking about equity howeverIgnored
Quoting ZazzyDislikedHello
I consider starting to trade with IB in some 6-12 months time and I have got 2 questions
1. Calculating the cost of a transaction:
Let us say I open a $100.000 trade on EUR/USD.
On oanda I pay 1.5 pip spread which makes some $15 of transaction costs.
On IB I will pay 0.02 of a basis point. Basis point is a pip. The value of a pip is $10, so 0.02*$10=$0,2. The lowest comission level is $2.5 so I pay to IB $2.5.
People say that Oanda is pretty cheap and I believe this. But compared to IB Oanda turns to be really expensive! So....this is suspicious I think... is there REALLY only this ridiculous $2.5 to pay? no more comissions, no spread? they say the spread is already included in the comissions. I cannot believe this...
2. Automated trading
Anybody using API there? Anybody can me explain what "CTCI (FIX)" is?
they say "Computer-to-computer interface that uses FIX protocol, which allows you to use IB's order routing network to facilitate your own trading application or front-end." Does that mean I can route my orders somehow directly to an interbank system avoiding the broker himself? I dont really get this.
Thanks in advance!Ignored
Quoting kwallaceDislikedI can at least answer question 1.
First on OANDA they hit you with the spread on the buy, not the sell. So you are only paying the spread one time on a round trip. On IB, you have to pay 0.00002 of the trade value in both directions or 2.50 minimum each way. So effectively you are paying $5 with IB and like $10-$30 with OANDA.
Hope this helps!Ignored
Quoting ZazzyDislikedhave you figured this out? I didnt find the answer also
I think they are talking about equity howeverIgnored
Quoting narafaDislikedWell, almost 2 weeks and they never returned my email back...!!! I don't know what's wrong with these guys...I get an email reply 2 weeks later from TradeStation with weird policies, and no reply from IB....Looks like I will stick with my Ameritrade account....
Thanks,
NaderIgnored
Quoting narafaDislikedWell, almost 2 weeks and they never returned my email back...!!! I don't know what's wrong with these guys...I get an email reply 2 weeks later from TradeStation with weird policies, and no reply from IB....Looks like I will stick with my Ameritrade account....
Thanks,
NaderIgnored
Quoting ZazzyDislikedthey changed the description of $25.000 recently - maybe it was a soft of answer? Anyway new description I think containt an error - one zero too much. Again no explicit information that order is not equal to trade since one trade=open order + close order so one needs to double the real costs.
I tried to create an account - this took me some 30 minutes I had to go through good 10 ununderstandable for me cofirmations and signs, and at the finish they DEMAND me to make the payment. So I invested some 30 minutes so far and still dont have an account. Unfortunately I dont have $25000+some margin to daytrade. Yet again i find this weird to expect daytraders to have such a big sum - what for?Ignored
Quoting ZazzyDislikedHello
I consider starting to trade with IB in some 6-12 months time and I have got 2 questions
1. Calculating the cost of a transaction:
Let us say I open a $100.000 trade on EUR/USD.
On oanda I pay 1.5 pip spread which makes some $15 of transaction costs.
On IB I will pay 0.02 of a basis point. Basis point is a pip. The value of a pip is $10, so 0.02*$10=$0,2. The lowest comission level is $2.5 so I pay to IB $2.5.
People say that Oanda is pretty cheap and I believe this. But compared to IB Oanda turns to be really expensive! So....this is suspicious I think... is there REALLY only this ridiculous $2.5 to pay? no more comissions, no spread? they say the spread is already included in the comissions. I cannot believe this...
2. Automated trading
Anybody using API there? Anybody can me explain what "CTCI (FIX)" is?
they say "Computer-to-computer interface that uses FIX protocol, which allows you to use IB's order routing network to facilitate your own trading application or front-end." Does that mean I can route my orders somehow directly to an interbank system avoiding the broker himself? I dont really get this.
Thanks in advance!Ignored