Interactive Brokers - experiences and opinions | Page 6 | Metals Mine

Options

Go to
Permalinks
Print Thread

Similar Threads

Experiences with my brokers on updating my email address 17 replies

Opinions and Experiences with Hedging and Martingale 89 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

Attachments: Interactive Brokers - experiences and opinions
Exit Attachments

Interactive Brokers - experiences and opinions

  • #101
  • Dec 27, 2006 4:30pm Dec 27, 2006 4:30pm
IB has awesome spreads and executions..


downsides are terrible customer support, poor backfill data, smallest forex unit you can trade is $25K USD

I have used them for years and generally happy, I can trade virtually everything with them, wish someone would write API for metatrader though
Smile... Darwin loves you.
  • #102
  • Dec 27, 2006 5:49pm Dec 27, 2006 5:49pm
My buddy and I have an acct with them although we set it up for the purpose of trading options. not so much forex. We use cms fx for that. It really comes down to what you're looking for i suppose. Cheaper prices or better quality. They are designed and geared for the experienced trader.

Mike.
Taking Life One Pip At A Time I officially have my own opinion.
  • #103
  • Dec 27, 2006 6:11pm Dec 27, 2006 6:11pm
yeah I see that.......I will probably stick with Oanda.
Same Whore .... Different Dress
  • #104
  • Dec 28, 2006 1:56pm Dec 28, 2006 1:56pm
I have been trading with IB for over 6 months now and generally I am happy...I have contacted customer support a couple of times and they are nice & problems were solved quickly without any delay...Actually I prefer to use the live chat feature so that I don't wait for emails or tickets...Even when I sent a ticket I got 2 resposes within the same day which was pretty fast...

However, I don't use them for forex trading....Generally speaking, they are one of the best brokers I have ever seen on the market...Regarding the platform, it's a little bit complicated, but once you get used to it, you will find it very easy to use along with the tons of order types available there really make the traders life much more better...


Thanks,

Nader
  • #105
  • Dec 28, 2006 6:31pm Dec 28, 2006 6:31pm
Almost all people that daytrade on IB don't use their platform to make trades, they use a "frontend" program like bracket trader etc...
Smile... Darwin loves you.
  • #106
  • Jan 4, 2007 9:49am Jan 4, 2007 9:49am
I've used IB as my primary broker for > 5 years, and find them progressive and a great bargain. It's so-oo-o-o nice to have that Universal Account and be able to trade everything out of the same account.

While I agree the interface isn't always intuitive, they have many tutorials & webinars (including a recent one on the new Forex platform), and I urge you to check these out.

Regards.

dwt
  • #107
  • Jan 4, 2007 8:20pm Jan 4, 2007 8:20pm
Hello,

Can someone please send me some suggestions for brokers who trade the news well? As we all know, quick execution is essential. I don't want any more requotes and slow to no responses --less than a 3 pip spread on the USDJPY would be nice too. The spread is a little negotiable though...just speed and no requoting.

Thanks in advance.
  • #108
  • Jan 5, 2007 1:08am Jan 5, 2007 1:08am
Quoting notouch
I just tested out AutoTrader - very nice indeed and free. Works well with IdealPro.
Do you happen to have URL? I was googling but couldn't find this program.

Thank you!

Mario
  • #109
  • Aug 5, 2007 1:56am Aug 5, 2007 1:56am
Hi,

Apart from charging commission on every lot you trade, do they include spread as well?

May I know which reliable brokers offer low spread for forex trading???

Regards
  • #110
  • Aug 5, 2007 2:39am Aug 5, 2007 2:39am
Even if there were no brokers or market makers at all, there would still be a spread.

Even if you yourself go out tomorrow to sell your bike on the street-corner, there is a spread, until someone agrees to your price.

More directly, yes, if you use an ECN, there will still be a spread. There's always a spread.
Pip my ride.
  • #111
  • Aug 7, 2007 12:30am Aug 7, 2007 12:30am
Quoting GladysKnight
Even if there were no brokers or market makers at all, there would still be a spread.

Even if you yourself go out tomorrow to sell your bike on the street-corner, there is a spread, until someone agrees to your price.

More directly, yes, if you use an ECN, there will still be a spread. There's always a spread.
EXF spreads go to zero on active markets.
You still have commissions to pay though.
IB spreads go to zero, too. With cheaper
commissions. I'm just a NB only trading Demo modes though.
So you have to find others with more experience
to ask more.

Good Trading!

FXS
Attached Image (click to enlarge)
Click to Enlarge Name: screen.jpg Size: 136 KB
  • #112
  • Aug 7, 2007 3:05am Aug 7, 2007 3:05am
[quote=FXSurfer;1526633]EXF spreads go to zero on active markets.

Thanks for the information!

Regards
  • #113
  • Aug 7, 2007 7:24am Aug 7, 2007 7:24am
Both firms are good in my book, be sure to understand IB commissions tho. If you trade very small quantities, EFX is cheaper, if you trade a bit bigger (>250k units) IB is cheaper.
  • #114
  • Aug 7, 2007 7:41am Aug 7, 2007 7:41am
Hello,

I had a live account with IB. I closed it a month later.

Good points:
Lots of instruments to trade
Cheap to trade large quantities
Free API

Bad points:
50:1 margin
Demo data is simulated data only
Live quotes did not match actual market prices
Easy to make a mistake on their software platform
Terrible support if you have a problem

Coder
  • #115
  • Edited Aug 8, 2007 3:51am Aug 7, 2007 12:16pm | Edited Aug 8, 2007 3:51am
Quoting Coder
Hello,

I had a live account with IB. I closed it a month later.

Good points:
Lots of instruments to trade
Cheap to trade large quantities
Free API

Bad points:
50:1 margin
Demo data is simulated data only
Live quotes did not match actual market prices
Easy to make a mistake on their software platform
Terrible support if you have a problem

Coder
You guys have answered important questions that I've had
about IB and EFX! Hard to get straight objective b roker info!
Good Trading!

FXS

Hey, check out the price scale on IB's E/J on
1 min chart. What the H is this?
Attached Image (click to enlarge)
Click to Enlarge Name: j.jpg Size: 83 KB
  • #116
  • Aug 8, 2007 3:48am Aug 8, 2007 3:48am
Quoting Coder
Hello,

I had a live account with IB. I closed it a month later.

Good points:
Lots of instruments to trade
Cheap to trade large quantities
Free API

Bad points:
50:1 margin
Demo data is simulated data only
Live quotes did not match actual market prices
Easy to make a mistake on their software platform
Terrible support if you have a problem

Coder
Hi,

Thanks for the great point, because if the demo account is different from the live account in term of price level, it is very hard to determine your strategy whether it works or not.

BTW, I hate complicated software that are not user friendly.

Regards
  • #117
  • Aug 8, 2007 5:26am Aug 8, 2007 5:26am
HI there,

I been trading forex for 2 years and now I would like to change to a new brokerage. May I know which broker are u guys using and do you have any problem with them?

Thanks
  • #118
  • Aug 8, 2007 8:38am Aug 8, 2007 8:38am
Quoting yyc196
Hi,

Thanks for the great point, because if the demo account is different from the live account in term of price level, it is very hard to determine your strategy whether it works or not.

BTW, I hate complicated software that are not user friendly.

Regards
The IB Demo has only recorded prices, but live customers have a "papertrading account", where they can test strategies with real market data.
  • #119
  • Aug 8, 2007 12:32pm Aug 8, 2007 12:32pm
Quoting shrike
The IB Demo has only recorded prices, but live customers have a "papertrading account", where they can test strategies with real market data.
Do you have to put down $5K to open the account just to try?

Thanks Shrike!

FXS
  • #120
  • Aug 8, 2007 2:26pm Aug 8, 2007 2:26pm
Yes you have to open a live account, and if im not mistaken min. deposit for a margin account is USD 5000. If you dont trade at all, they also charge $10 each month as some sort of platform fee.
0 traders viewing now