Disliked{quote} they spreads r so good that you ll make more money than you have got if you had signup to a broker offer bonuses.Ignored
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
Disliked{quote} Interactive broker is the rolls royce of the broker, i had to deposit a minimum of 10K when i did open my account (they might have lower it nowdays) but they spreads r so good that you ll make more money than you have got if you had signup to a broker offer bonuses. IAs i mentioned in the past , i hate their costumer service but the rest is okIgnored
DislikedWhoa - I just got this e-mail from IB: "Effective September 1, 2016, Interactive Brokers will require that only accounts held by "Eligible Contract Participants" may open leveraged forex positions." It goes on to clarify that an "Eligible Contract Participant" generally is an individual or organization with assets of over $10 MM (or $5 MM if trades are hedging). I called IB and they informed that they are pretty much getting out of the retail FX business due to Dodd-Frank! I was with IB due to funds security (at least in terms of being a reputed...Ignored
Disliked{quote} Disappointing indeed!!, they told me that it was a 'new IRS rule and will apply to all brokerages 'Ignored
Disliked{quote} Yeah I got that message too... I really hope that's not true! They were such a good broker too. I'm looking elsewhere now, ATC, FXCM, and TD Ameritrade. I hope the government doesn't screw US forex trading like they did with online poker.Ignored
DislikedWhoa - I just got this e-mail from IB: "Effective September 1, 2016, Interactive Brokers will require that only accounts held by "Eligible Contract Participants" may open leveraged forex positions."Ignored
DislikedNo link since it was an email notice and not sure if it applies for non-US accounts , but definitely for US. Here's the screenshot of the email below anyway {image}Ignored
DislikedNo link since it was an email notice and not sure if it applies for non-US accounts , but definitely for US. Here's the screenshot of the email below anyway {image}Ignored
Disliked{quote} Could be a hoax. Even if this is an email notice, there should be a link to explain it further. And no link to the KB articled mentioned in the email? I searched all over internet and I couldn't find any mention of this notice from IB either. Check the email address of the sender to see if it's from a legitimate email address from IB.Ignored
Disliked{quote} Yeah I've been searching their site but also haven't seen any announcements or news. Searching news sites but nothing about IB. They still have up some award they got in 2015 for "Best FX retail platform". They also have up their metrics on how IB FX traders have the best profitability among all US brokers. Sheesh . Did they mention to you about any specific IRS rules? The guy I talked to said that he'd just seen the notice and that it was sprung on by surprise. And then he said the bit about Dodd-Frank but figured it was a stock...Ignored
Disliked{quote} I captured the screen shot of my chat session with the IB representative. See for yourself what she had to say below, btw, I blacked out my username for privacy purposes. {image}Ignored
Disliked{quote} Ok if this is an IRS bullshit then it DEFINITELY does NOT apply to non-US traders. But it's strange that I searched on the internet on this new IRS rules and I can't find any information either. What's the rule called? And it's applying to ALL brokerages according to this chat? So FXCM is affected as well? Time to check with Jason Rogers from FXCM then. It seems very strange that IRS would want to get involved in limiting trading on leverage on forex all of sudden. That's usually a regulator's job first of all and they are just a tax-collecting...Ignored
Disliked{quote} I captured the screen shot of my chat session with the IB representative. See for yourself what she had to say below, btw, I blacked out my username for privacy purposes. {image}Ignored
DislikedI have been with IB for about a year trading forex for my own account full time (prior to this I traded spot at a bulge bracket in NY for 9 years followed by a 3 year stint at a prop house in Chicago). I chose IB after much research and was especially pleased with the FXTrader platform, its reliability, and functionality (though it can be overwhelming in the intricacies of its capabilities). I have read here and in other forums about the poor customer service at IB but aside from this most recent stunner of a development, I have nothing but good...Ignored