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Interactive Brokers - experiences and opinions

  • #401
  • Mar 7, 2012 3:59pm Mar 7, 2012 3:59pm
Quoting Jfk
Can't think why you'd want to trade with IB unless you were swinging 300,000+ around.
Trade multiple markets/asset classes from the same account, very few retail brokers offer anything like that, and even fewer do it well.
  • #402
  • Mar 8, 2012 5:43am Mar 8, 2012 5:43am
Quoting Trader KGB
Trade multiple markets/asset classes from the same account, very few retail brokers offer anything like that, and even fewer do it well.

I agree. But for FX specialists, trading spot there are brokers offering better comission rates and comparable spreads, better platforms and better leverage. Just a few points that make IB a great all-rounder but not great for spot traders. Now, if you want to trade fx options, etf's, swap currency to wire elswhere etc, IB is the deal, in my opinion.
  • #403
  • Mar 31, 2012 2:24am Mar 31, 2012 2:24am
minimum account balance

http://www.interactivebrokers.com/en/p.php?f=margin
.
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  • #404
  • Mar 31, 2012 2:36am Mar 31, 2012 2:36am
Yes, demo account is a good choice, once you selected to use it , which could makes you reduce risk.
  • #405
  • Apr 5, 2012 6:56pm Apr 5, 2012 6:56pm
Currenex etc. ecn don't have such limit.
  • #406
  • Apr 5, 2012 9:28pm Apr 5, 2012 9:28pm
I believe these can be manually overridden if you request it from them.
  • #407
  • Apr 6, 2012 4:35am Apr 6, 2012 4:35am
Easy one .... because they want to protect their banks ...this is forex you now...
  • #408
  • Apr 6, 2012 9:35pm Apr 6, 2012 9:35pm
Quoting Trader KGB
I believe these can be manually overridden if you request it from them.
I have asked IB to remove the limitation,but they can't do that!
  • #409
  • Apr 6, 2012 9:47pm Apr 6, 2012 9:47pm
Quoting Cocoflanel
Easy one .... because they want to protect their banks ...this is forex you now...
It make some sense. But A/U max per trade size 7m(larger than E/U), can you explain that?
I guess IB's liquidity may not has last look, so liquid provider need it to protect themselves.
  • #410
  • Apr 7, 2012 2:47am Apr 7, 2012 2:47am
Quoting good mind
I guess IB's liquidity may not has last look
That would be the first I heard (and first retail venue that offers it). I don't know if that's the case, and would doubt it is, but who knows.
  • #411
  • Apr 7, 2012 5:18am Apr 7, 2012 5:18am
Quoting good mind
Currenex etc. ecn don't have such limit.
you can still put more then one order in at the max, so if you wanted to trade 10 mill you can put two orders in at 5mill each.
  • #412
  • Jun 23, 2012 3:50am Jun 23, 2012 3:50am
Quoting Traderji
For nearly 48 hours now the Interactive Brokers forex historical data servers have been down. I haven't been able to trade 4 sessions so far and about to start the 5th session without any idea of when a resolution might come.

Worst part is there is zero effort to communicate with customers and provide them updates. Even now the system status page on the IB website shows all green. Which is complete bullshit because the servers are down. I have spoken to customer service many times now and those poor idiots are completely clueless. All they can...
could you please upload the ABC indicator?
  • #413
  • Jul 11, 2012 1:26pm Jul 11, 2012 1:26pm
I'm from Portugal so I'll be using Interactive Brokers Europe I think. It says FSA regulates Interactive Brokers Europe, does that agency assures deposits (gives back the deposit to the client if IB goes bankrupt) up to a certain amount?
  • #414
  • Jul 12, 2012 11:15am Jul 12, 2012 11:15am
Quoting Jasus
I'm from Portugal so I'll be using Interactive Brokers Europe I think. It says FSA regulates Interactive Brokers Europe, does that agency assures deposits (gives back the deposit to the client if IB goes bankrupt) up to a certain amount?

FSA regulated broker cannot use clients’ funds to cover own needs, expenses and risks as well as utilise those funds in case of the bankruptcy.
If a FSA regulated company fails to meet its financial obligations, a liquidator would not be able to use clients’ money to meet claims of general creditors of the failed company.

Compensation limit

£85,000 per person per authorised firm (for claims against firms declared in default from 31 December 2010).
Compensation limits apply to individuals not accounts. This means that for joint accounts the limit applies to each named account-holder. So for example, if you have a joint account with your spouse or partner, you could each make a claim of up to £85,000 under the deposit limits.


http://www.fscs.org.uk/
Trader from Croatia
  • #415
  • Jul 13, 2012 5:22am Jul 13, 2012 5:22am
Thanks, that's comforting to know
  • #416
  • Aug 21, 2012 9:10am Aug 21, 2012 9:10am
Take note that they shut spot fx for 15 mins every night to reboot their servers for 15 mins. That could lead to massive slippage if a big move happens during this time as the fx market isn't shut but IB certainly are!
All orders stay on the system etc, but if a big event happens in that 15 minutes? So if trading JPY, or an exchange that's lively at that time of day then be warned...
  • #417
  • Aug 23, 2012 12:26pm Aug 23, 2012 12:26pm
Quoting PeterE
minimum account balance

http://www.interactivebrokers.com/en/p.php?f=margin
.

Wow I wasn't aware of this.
  • #418
  • Aug 24, 2012 2:11am Aug 24, 2012 2:11am
Quoting A-game
Wow I wasn't aware of this.

That is for stocks, not FX.
  • #419
  • Aug 24, 2012 4:26am Aug 24, 2012 4:26am
Quoting pbb
That is for stocks, not FX.

Yes thank you I realized after doing some research.

On a side note, is anyone using ninja trader to execute with IB? Any comments?
  • #420
  • Aug 30, 2012 4:42pm Aug 30, 2012 4:42pm
Quoting Jfk
I agree. But for FX specialists, trading spot there are brokers offering better comission rates and comparable spreads, better platforms and better leverage. Just a few points that make IB a great all-rounder but not great for spot traders. Now, if you want to trade fx options, etf's, swap currency to wire elswhere etc, IB is the deal, in my opinion.
Jfk
would you mind or anybody else giving me a few names for further research?
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