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Forex demo account with Interactive brokers

  • #1
  • First Post: Jul 20, 2011 3:37am Jul 20, 2011 3:37am
dear traders , hello.
i am considering to open a DEMO account in Interactive Brokers , for forex trading. can anybody help or guide me please ? which platform etc.
thanks a lot already. regards.
the best indicator is trader's knowledge , experience and dicipline.
  • #2
  • Jul 20, 2011 4:28am Jul 20, 2011 4:28am
Quoting fx-season
dear traders , hello.
i am considering to open a DEMO account in Interactive Brokers , for forex trading. can anybody help or guide me please ? which platform etc.
thanks a lot already. regards.
to have access to a true sim acc IB offer you will have to open a trading acc and fund with USD 10K or equiv.

They offer a demo on the site but i don't think it's as good as the sim. Platform wise I only use Book Trader with API to Ninja Charts.

IB have webinars on platforms available.
  • #3
  • Jul 20, 2011 5:12am Jul 20, 2011 5:12am
dear sir , thank you for your kind helps.
i will consider your advices actually.

i traded in some other platforms before , such as live MBT navigator etc.
so i hope , i can trade in any platform.
actually i am considering to open a Live account in IB.
for now , i just liked to see how the platforms work.

(also , i'd like to ask some other tips about IB and some other brokers , if you please ? )

thank you for your time and helps. best wishes.
the best indicator is trader's knowledge , experience and dicipline.
  • #4
  • Jul 20, 2011 5:20am Jul 20, 2011 5:20am
IB is a *real* br0ker as opposed to the typical Forex br0ker. They don't offer free demo accounts. You can create a paper trading account but it has to be linked to a real account with money in it.

I have 2 accounts with IB and I'm very happy with them. However I don't trade Forex with them, only options.

The data feed in the paper trading account is exactly the same as the real one. However, the fills in paper trading are only at the natural prices (i.e. buy at the ask, sell at the bid). This may not matter with Forex since most Forex br0kers only fill at the natural anyway.
You are in a maze of twisty little passages, all alike.
  • #5
  • Jul 20, 2011 9:13am Jul 20, 2011 9:13am
Quoting stevegee58
IB is a *real* br0ker as opposed to the typical Forex br0ker. They don't offer free demo accounts. You can create a paper trading account but it has to be linked to a real account with money in it.

I have 2 accounts with IB and I'm very happy with them. However I don't trade Forex with them, only options.

The data feed in the paper trading account is exactly the same as the real one. However, the fills in paper trading are only at the natural prices (i.e. buy at the ask, sell at the bid). This may not matter with Forex since most Forex br0kers...
IB does not offer free demo accounts to just anyone without opening an account with them, that's true BUT you don't have to actually fund your real account to do paper trading. As long as you opened the real account, IB will give you a free demo account upon request and you can use it as long as you want.
Make your losses in demo. Earn your profits live.
  • #6
  • Edited 12:13pm Jul 20, 2011 9:17am | Edited 12:13pm
The real time data feeds cost money so you have to have some funds in the linked account.

FX data may be free, I can't remember.
You are in a maze of twisty little passages, all alike.
  • #7
  • Jul 20, 2011 11:56am Jul 20, 2011 11:56am
dear stevegee58 and Forexia ,
thanks a lot for your time.
it is very helpful for me actually.

i can see it and i will consider your advices.

best wishes.
the best indicator is trader's knowledge , experience and dicipline.
  • #8
  • Jul 21, 2011 2:38am Jul 21, 2011 2:38am
dear traders , hello again.

i have just tried to lunch IB forex Demo ,
http://individuals.interactivebroker...gemap_demo.php


simply clicked on forex demo button and trading platform opened. the strange thing is , there was no registration , etc. the platform has just opened. (maybe , because of , i had already applied to open a live account , and i am running a live account opening proces. )
anyway , i am finding out the properties of the platform now.

thanks a lot for all your helps and time. best wishes.
the best indicator is trader's knowledge , experience and dicipline.
  • #9
  • Jul 21, 2011 3:15am Jul 21, 2011 3:15am
Just keep in mind that the demo logs you in with a demo username and password that has only delayed quotes. It's just to let you see what it looks like.
You are in a maze of twisty little passages, all alike.
  • #10
  • Jul 21, 2011 3:20am Jul 21, 2011 3:20am
dear stevegee58 , hello.

actually i found a Demo page on IB site and i have just tried the forex one. it is complicated of course , and i am just trying to find out about it.
http://individuals.interactivebroker...gemap_demo.php
i am just new about IB , so i may be wrong.
regards.
the best indicator is trader's knowledge , experience and dicipline.
  • #11
  • Last Post: Jul 21, 2011 3:25am Jul 21, 2011 3:25am
dear sir , thanks for your helps . surely , i am not trading in that demo account , any strategies or etc. yes , as you can assume , i just like to see what it looks like and how it works. thanks a lot for your care and helps.

Quoting stevegee58
Just keep in mind that the demo logs you in with a demo username and password that has only delayed quotes. It's just to let you see what it looks like.
the best indicator is trader's knowledge , experience and dicipline.
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