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Interactive Brokers - experiences and opinions

  • #821
  • Oct 4, 2016 3:47am Oct 4, 2016 3:47am
Quoting Borowikbo
{quote} Unfortunately I don't have 10K to deposit. I will start with 500 USD which is the money I can loose without affecting my lifestyle. With Interactive Brokers I cannot start also because they only offer 1:100 leverage if I am correct. But I have heard it is a good broker.
Here is the current forex margin being offered by Interactive brokers, https://www.interactivebrokers.com/e...ginnew&p=forex.
  • #822
  • Oct 7, 2016 12:15pm Oct 7, 2016 12:15pm
Quoting raiders
{quote} I got screwed 2 times by FXCM this week. On the 1st occasion I immediately opened up a new application at IB, who i was with before (prior to hearing this news of course). I have been sending emails to my rep at IB everyday requesting clarity on this Sept 1st issue and im not getting any response on it so im guessing its a done deal. After the 2nd bullshit instance, which happened friday morning i started hunting for a futures broker. I have some amazing setups i see in FX right now and im not sure i even want to bother trading them. Im...
"Anyways, like i said, I can trade currencies through futures and truth be told its actually cheaper to do so. Without even negotiating im at about $5 roundtrip which is so much cheaper its not even funny and were not even taking the spread into account here"

how do you trade forex with a futures broker? what broker do you use for futures?
i am currently looking for a broker too... but hearing lots of weird stories.. and knowing futures market is centralized , be able to trade forex with a futures broke would be idle for me
  • #823
  • Nov 20, 2016 12:04pm Nov 20, 2016 12:04pm
Quoting Forexia
{quote} WOW!!! That's a really ingenious way to trade internationally. I never thought of that! But I think an easier way is just to have those UK firms to register an office in Canada with the IIIOC and pay the annual dues to them. In pound terms, the Canaadian dollar dues should be peanuts to them considering the huge drop in value that it's suffered against the greenback. And since everything is done online, you don't even need to go to a large city to have a fancy office. You just need to rent a tiny small office in a small city where...
what was the ingenious way?
  • #824
  • Nov 20, 2016 12:34pm Nov 20, 2016 12:34pm
Quoting forexvert
{quote} "Anyways, like i said, I can trade currencies through futures and truth be told its actually cheaper to do so. Without even negotiating im at about $5 roundtrip which is so much cheaper its not even funny and were not even taking the spread into account here" how do you trade forex with a futures broker? what broker do you use for futures? i am currently looking for a broker too... but hearing lots of weird stories.. and knowing futures market is centralized , be able to trade forex with a futures broke would be idle for me
pm me if still interested. i dont want anyone to think im selling anything
  • #825
  • Nov 24, 2016 3:18pm Nov 24, 2016 3:18pm
Something I have always heard is the fact that they are really transparent. That most of them passes through the prices that they receive and charges a separate low commission. You get to see everything you are charged!
  • #826
  • Nov 25, 2016 2:43pm Nov 25, 2016 2:43pm
Can you list brokers who provide Interactive Brokers platform as a whitelabel? I have found captrader and lynxbroker from Germany. Are there any other ones in Europe and elsewhere? Thanks.
  • #827
  • Nov 25, 2016 4:19pm Nov 25, 2016 4:19pm
Captrader, also german i think. Also more expensive than going with IB directly.
  • #828
  • Dec 25, 2016 1:19am Dec 25, 2016 1:19am
Gents, I am new to IB, just like everyone, we love the low fees/commissions but hate the TWS platform. I was wondering if there is a way for TWS to automatically calculate position size for every trade based on the stop loss (pips) and also the risk amount (in $ term)?

I would like to trade smaller timeframe (5min, 15min) but the way I used to trade is to have a fixed risk amount, and enter at a different LOT size depending on the size of my SL. I just cannot do all that calculation fast enough manually, and then enter the order manually again using the TWS platform.

Appreciate any feedback/comment. Thanks.
BC
  • #829
  • Dec 26, 2016 3:43pm Dec 26, 2016 3:43pm
I'm surprised IB is still discussed these days with their $10M net worth requirement for leveraged trading. Either there are some pretty wealthy traders on this site, IB has switched gears or people are sticking to cash-only trading.
  • #830
  • Dec 27, 2016 1:45am Dec 27, 2016 1:45am
Quoting 95bcwh
Gents, I am new to IB, just like everyone, we love the low fees/commissions but hate the TWS platform. I was wondering if there is a way for TWS to automatically calculate position size for every trade based on the stop loss (pips) and also the risk amount (in $ term)? I would like to trade smaller timeframe (5min, 15min) but the way I used to trade is to have a fixed risk amount, and enter at a different LOT size depending on the size of my SL. I just cannot do all that calculation fast enough manually, and then enter the order manually again using...

Have a look at Button Trader, then you could program a series of Hotkeys in relation to size.
Road To Wisdom? To err and err and err again, but less and less and less...
  • #831
  • Dec 27, 2016 1:46am Dec 27, 2016 1:46am
Quoting styles20001
I'm surprised IB is still discussed these days with their $10M net worth requirement for leveraged trading. Either there are some pretty wealthy traders on this site, IB has switched gears or people are sticking to cash-only trading.
It's only in the Land of the Free where clients aren't allowed to trade FX.

Clients from outside the Land of the Free can trade FX no problem at all.
Road To Wisdom? To err and err and err again, but less and less and less...
  • #832
  • Dec 27, 2016 1:53pm Dec 27, 2016 1:53pm
Quoting styles20001
So after 3 solid years of FX paper trading and finally feeling confident enough to go live, IB no longer offers leveraged FX accounts??? I can't even begin to express how frustrated I am. I hear some FX brokers are shady (although I don't understand how one broker can alter a currency pair that's traded worldwide). Who else can I trust?
Only in the great US of A. Yup, you have SEC to thank for that. If you are in the rest of the world though, fortunately IB is still available for leveraged retail FX. If you are in the USA, unfortunately the choice is really limited. There are very very few brokers in the world that accepts US clients except the ones in the Caribbean and Eastern Europe. Somebody posted a list in the thread "Brokers that accept US clients". Personally, I wouldn't trust my money with any of them but if you are located in the US and you want to trade leveraged FX, those are the only choice you have, which is a shame.

This Dodd-Frank rule REALLY did a disservice to US traders. Trump has vowed as part of his campaign to get rid of the Dodd-Frank rule once he takes his presidency. Hopefully he will be true to his words.
Make your losses in demo. Earn your profits live.
  • #833
  • Dec 27, 2016 1:56pm Dec 27, 2016 1:56pm
Quoting styles20001
I'm surprised IB is still discussed these days with their $10M net worth requirement for leveraged trading. Either there are some pretty wealthy traders on this site, IB has switched gears or people are sticking to cash-only trading.
No that rule was forced on IB by SEC in its efforts to ban leveraged FX trading at retail level. Believe me, IB was NOT happy about this rule either but since it offers other investment products that falls under SEC's jurisdiction and they make up a bigger portion of its revenue so it has no choice but to bow to the pressure of the SEC to adopt that rule.
Make your losses in demo. Earn your profits live.
  • #834
  • Jan 17, 2017 7:47am Jan 17, 2017 7:47am
Does anyone know the IP address for Interactive Brokers FX feed? Or know where/how to get the information?

Some say it's in Zurich but surely it should be in London as that's where everyone else's is (for FX).
Road To Wisdom? To err and err and err again, but less and less and less...
  • #835
  • Jan 17, 2017 8:55am Jan 17, 2017 8:55am
I know they have ticker-plants for datafeeds in the USA, London and SG. And afaik you can switch. The FX execution itself is mosst likely done in a US location.
  • #836
  • Jan 17, 2017 5:55pm Jan 17, 2017 5:55pm
Quoting Calculus
Does anyone know the IP address for Interactive Brokers FX feed? Or know where/how to get the information? Some say it's in Zurich but surely it should be in London as that's where everyone else's is (for FX).
Calculus, on the lower right corner of the TWS there is a green button that says "Data" right next to the clock. Click it. It shows your data connections. Next to the one called Primary (under the middle "Purpose" column) note the Farm name. That is where your computer is connected.

You can also see all your network connections from a given computer by opening up a command prompt (in windows) as administrator, and typing the following command
netstat -a -b -f

This will show a list of your connections by executable. The trader workstation (TWS) runs using java.exe. You will see several connections on different ports to the same server and it will be similar to the one found above under "Primary". The status will generally show "Established".

You can then do a whois lookup on the web to see more info about that address.
  • #837
  • Jan 18, 2017 10:29am Jan 18, 2017 10:29am
Thanks FX, I'll check things out re your advice.
Road To Wisdom? To err and err and err again, but less and less and less...
  • #838
  • Jan 18, 2017 12:02pm Jan 18, 2017 12:02pm
Fxflat is interactive fedd disciple for mt4 users heheheehhe.
I never have traded there, have tried contact them but suport is poor.
Good trades.
  • #839
  • Jan 20, 2017 11:34pm Jan 20, 2017 11:34pm
Hi everyone,

I decided to start trading my own account a couple of years ago (bank background) and right away opened an Interactive Brokers account. I trade in a manual/dinosaur fashion and am fair active throughout the day... currently averaging 1 yard a month. But I've yet to touch the IB account because the interface just seems quite difficult to use for trading actively (or maybe I just never learned it properly and got intimidated). I'm really trying to migrate from the broker I'm using (one with a pretty bad reputation but offers competitive pricing, a ton of crosses, and has a UI very similar to bank platforms like Autobahn, Velocity, etc.) and want to know how those of you who trade actively on IB manage to adapt to the platform. For example, I would always enter a stop loss order within 5-10 seconds after entering into a position on my currently platform but this seems difficult to do on IB. I don't understand why the IB UI isn't more user friendly like the lesser retail brokers out there.

Any advice or other broker suggestions would be appreciated. Thank you all.
  • #840
  • Jan 21, 2017 3:04am Jan 21, 2017 3:04am
AUD, The order entry software Button Trader will sort ALL your problems out.

It takes a bit of time to understand how it all works but once that's done entering or changing any type of order is really slick. For your needs it would be easy to set some hot keys to enter and then work and offer and stop etc. Because it uses a visual price ladder moving or changing any order is just one click.
Road To Wisdom? To err and err and err again, but less and less and less...
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