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Interactive Brokers - experiences and opinions

  • #681
  • Jul 20, 2015 5:11pm Jul 20, 2015 5:11pm
Thank you for taking the time to answer Forexia...your answer is very informative
  • #682
  • Jul 20, 2015 10:26pm Jul 20, 2015 10:26pm
Congratulate me
i get a live account with IB ??
They say you must fund your account within 45 days or it will be cancelled
  • #683
  • Jul 20, 2015 10:29pm Jul 20, 2015 10:29pm
Quoting Alraqeem
Congratulate me i get a live account with IB ?? They say you must fund your account within 45 days or it will be cancelled
Ok fund it within 45 day IF you still want to be with them. Come on, let's go, chop chop!!! LOL
Make your losses in demo. Earn your profits live.
  • #684
  • Jul 20, 2015 10:42pm Jul 20, 2015 10:42pm
[quote=lasty;8362765]ASIC issues Interactive Brokers an Enforceable Undertaking. http://asic.gov.au/about-asic/media-...ctive-brokers/ This is just the start Im guessing and a warning to those other who operate in Australia without a license

and goodby to these bad boys
people leave, but this thread will go on for ever
  • #685
  • Jul 21, 2015 5:55am Jul 21, 2015 5:55am
Quoting forexia
{quote} ok fund it within 45 day if you still want to be with them. Come on, let's go, chop chop!!! Lol
ant thing wrong?
I register with them upon ur encouraging replies
  • #686
  • Edited 10:25am Jul 21, 2015 9:41am | Edited 10:25am
Quoting Alraqeem
{quote} ant thing wrong? I register with them upon ur encouraging replies
It's a joke, Alraqeem. But I didn't really encourage much. I just laid out the pro's and con's of IB just like what I do with every broker. IB has its strong points but remember what I told you about IB's weaknesses.

Good luck and good trading!
Make your losses in demo. Earn your profits live.
  • #687
  • Aug 10, 2015 6:42pm Aug 10, 2015 6:42pm
they lost 120mln owing to Francogeddon.
  • #688
  • Aug 11, 2015 1:15am Aug 11, 2015 1:15am
Quoting entheos
they lost 120mln owing to Francogeddon.
could you please share some details? 120 million? that's a lot of money, i didn't find any info online though, please tell us what happened.
Thanks in advance!
  • #689
  • Aug 11, 2015 2:07am Aug 11, 2015 2:07am
Quoting sailorvt
{quote} could you please share some details? 120 million? that's a lot of money, i didn't find any info online though, please tell us what happened. Thanks in advance!
hi,
for you.
http://www.businessinsider.com/inter...nc-loss-2015-1
  • #690
  • Aug 11, 2015 12:26pm Aug 11, 2015 12:26pm
oh, this one, i think a lot of brokers lost a lot of money due to this event, and alpari.uk is out of business 'cos of this ?
but i think with IB being a big wealthy company, the loss couldn't do much damage anyway.
  • #691
  • Aug 30, 2015 10:50am Aug 30, 2015 10:50am
So during last Monday's illiquidity event around 9 am EST as NY session was starting up, NZD among others went bonkers as everyone knows. But I was looking around at different brokers' and sites' charts and am noticing that NZD went down even further with IB than it seems anywhere else. Why is this??

On ALL sites (Google Finance, Yahoo Finance, etc.) and other brokers' platforms (e.g., Dukascopy, Oanda) that I have looked into NZD/USD went down to around .6050 max. But on IB they quoted it at around .5915 at the height of the event! This translated into much further exaggerations in the NZD crosses. Most prominently I am noticing that GBP/NZD shot up to 2.60xx on IB platform!! Everywhere else I have looked the max they quoted it was like 2.50-2.52. What the hell? Sure IB claims to have and provide exceptional, deep access but how can the average everywhere else be like 2.50-2.52 in the case of GBP/NZD and practically 800-1000 pips higher with IB? Am I missing something or are they just as shady as pretty much any other broker ??
Enter Signature
  • #692
  • Sep 13, 2015 5:39pm Sep 13, 2015 5:39pm
San99 the GBP.NZD travesty happened again actually just now at IB, the pair went up to 2.4613 for a few seconds while everywhere else is printing 2.4471 as the day's high. This kind of 200pip slips is just enormous and throwing off all algo trades, it's just ridiculous... I would be very interested to find out what's wrong with IB's IDEAL fx platform.....
  • #693
  • Sep 13, 2015 8:42pm Sep 13, 2015 8:42pm
Quoting Vispilio
San99 the GBP.NZD travesty happened again actually just now at IB, the pair went up to 2.4613 for a few seconds while everywhere else is printing 2.4471 as the day's high. This kind of 200pip slips is just enormous and throwing off all algo trades, it's just ridiculous... I would be very interested to find out what's wrong with IB's IDEAL fx platform.....
Vispilio - YES. I came back here to post exactly this after I noticed that this evening (and see if there had been any updates but apparently not). I also went to check charts elsewhere and nowhere else did I see such a 150+ pip spike up. Although NZD/USD did fall in that minute (20:12 EST) by I think 25 pips to ~.6310, by my calculations, with GBP/USD at ~1.5445 that would only translate to 2.4470/80 for G/N. So can IB simply hide behind "slippage" and get away with it . I thought IB was far removed from slippage issues. Sheesh. I don't even know who I could "complain" or at least talk to about this at IB. I went with them for the better spreads and purported transparency, not to mention funds segregation. But my old broker (MBT, now being bought by TradeKing) seems like it was quite good after all . Only "good" news is that at least other currencies and pairs have not gotten slipped up like NZD and the respective crosses by IB.
Enter Signature
  • #694
  • Sep 13, 2015 9:18pm Sep 13, 2015 9:18pm
Quoting san99
{quote} Vispilio - YES. I came back here to post exactly this after I noticed that this evening (and see if there had been any updates but apparently not). I also went to check charts elsewhere and nowhere else did I see such a 150+ pip spike up. Although NZD/USD did fall in that minute (20:12 EST) by I think 25 pips to ~.6310, by my calculations, with GBP/USD at ~1.5445 that would only translate to 2.4470/80 for G/N. So can IB simply hide behind "slippage" and get away with it . I thought IB was far removed from slippage issues. Sheesh....
This is what happens when there is reliance on one or two major Lp's in an exchange environment or the software system doesn't have rate filters to cancel rogue ticks.
Both should be considered. In this day and age its 101 stuff.
  • #695
  • Edited 9:52am Sep 14, 2015 7:15am | Edited 9:52am
Quoting lasty
{quote} This is what happens when there is reliance on one or two major Lp's in an exchange environment or the software system doesn't have rate filters to cancel rogue ticks. Both should be considered. In this day and age its 101 stuff.
Well that's news to me but how could this be "101 stuff". I mean why would any broker go around admitting it only relies on "one or two major LPs" to begin with? Which broker do you use then?
Enter Signature
  • #696
  • Sep 20, 2015 6:59pm Sep 20, 2015 6:59pm
I used them for stocks. They're great on shorts. The platform is terrible. They're also very cheap.
  • #697
  • Sep 20, 2015 7:59pm Sep 20, 2015 7:59pm
Quoting san99
{quote} Well that's news to me but how could this be "101 stuff". I mean why would any broker go around admitting it only relies on "one or two major LPs" to begin with? Which broker do you use then?
They dont .. You use your due diligence.
Exchange style brokers have their good and bad points.
For a retail trader they are bad as a retail trader needs constant pricing to stop gapping but for a wholesale trader or price maker they are good.
  • #698
  • Sep 23, 2015 2:56pm Sep 23, 2015 2:56pm
If someone wants to make some extra cash. Ive got a few questions and dilemas moving from MT4 to TWS. If you have the time pls pm me or skype me at jkrick33. Thanks in advance. -it has nothing to do with the bridge or trade commander
DM if you have any questions
  • #699
  • Oct 1, 2015 7:34pm Oct 1, 2015 7:34pm
@ lasty and san99, you can circumvent almost all broker problems for exchange based asset classes by obtaining raw data from the exchange which any respectable broker is able to offer now, but since there is no exchange for FX you are always left in the dark about who exactly is providing liqudity and how it can be verified...

I've spoken to IB now several times about these unbelievable spikes on NZD, and the strangest thing is they are treating the matter as if it's a "business as usual" most common occurence, when they are printing highs on NZD pairs that are 500+++ ticks above from everyone else !!! It's so amazing how something like this can be brushed under the carpet, and how thousands of IB clients apparently haven't even complained about this (it's even worse if they have and the broker is acting like nothing out of the ordinary has happened...)

This type of beyond belief events that are almost never observed on exchange traded futures, stocks, bonds, etc. makes me question the professionalism of fx markets altogether...

If an allegedly world class broker like Interactive Brokers can completely ignore a discrepancy of 200+ pip spikes on a few occasions, then how can any trader expect to make money when the broker can easily hunt their stops whimsically, and there is not even a singular exchange to check the validity of the fx price quotes... Replace "Interactive Brokers" with any other respectable broker, and the question still stands... Anytime any fx broker can print a quote that is way off market, and since there is no singular data provider against which price reasonability can be checked, the client would have absolutely no defense against his losses..... Let me know what you make of it.


Best,
Vispilio
  • #700
  • Oct 2, 2015 5:14am Oct 2, 2015 5:14am
In my opinion - to prevent spikes on some volatile crosses (I assume you talking about EUR/NZD or GBP/NZD pairs), just construct the same trade with major pairs - EUR/USD, GBP/NZD and NZD/USD
If you scalping - that would be different story, but it's the only way to survive.
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