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Interactive Brokers - experiences and opinions

  • #341
  • Sep 6, 2011 3:40am Sep 6, 2011 3:40am
I'm seeing it with QuoteTracker too, but not for all pairs.
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  • #342
  • Sep 7, 2011 8:06pm Sep 7, 2011 8:06pm
Hello

Is there any application that could be use to keep IB (Interactive Brokers) TWS connection alive. I could use IB Gateway, but I can't see my transaction or account status live with it.

Any help appreciated
Martin
  • #343
  • Sep 8, 2011 1:34am Sep 8, 2011 1:34am
Quoting arjfca
Hello

Is there any application that could be use to keep IB (Interactive Brokers) TWS connection alive. I could use IB Gateway, but I can't see my transaction or account status live with it.

Any help appreciated
Martin
Any 3rd party software with IB Gateway will do the job.
The cheapest would be QuoteTracker --free -- with the patch posted here

http://www.elitetrader.com/vb/showth...&pagenumber=28

Enjoy!
  • #344
  • Sep 8, 2011 6:39am Sep 8, 2011 6:39am
Thanks
  • #345
  • Sep 9, 2011 5:44am Sep 9, 2011 5:44am
How many times does TWS disconnects on average ?
  • #346
  • Sep 9, 2011 7:01am Sep 9, 2011 7:01am
Hello

Once per day, TWS reset is server. This is a normal operation, annoying but that the way IB manage this application

I could use IB Gateway, but using it, I don't have live access to my account status and position.

I'm trying to install TWSStart at the moment

MT
  • #347
  • Sep 9, 2011 3:47pm Sep 9, 2011 3:47pm
As you likely know, the last couple releases of TWS have vastly improved the platform's robustness. During the midnight (US Eastern) resetting period, it may still "pink screen," but the sockets don't close and it restores itself. It is also much more robust against any momentary internet outages, or even resource swamping on the local machine; the sockets stay active and it attempts repeated re-login, usually successfully, and without password/validation intervention.

As mentioned above, you must still log out and back in at least once every 24 hours, but the time between 17:00E and 17:15E is perfect for this for forex.
  • #348
  • Sep 9, 2011 7:42pm Sep 9, 2011 7:42pm
OldQuant, Thank you

Martin
  • #349
  • Sep 18, 2011 12:12am Sep 18, 2011 12:12am
are you sure the data is reliable?
  • #350
  • Sep 29, 2011 2:26pm Sep 29, 2011 2:26pm
Do you guys know the reason why IB does not allow trading on NZD/USD from 14:00 to 14:15 EST everyday? They used to do it at 15:00 EST and then for a long time, they allowed trading on this pair contineously throughout the day just like any other pairs. And now, they started interrupt trading in the afternoon again.

I talked their CSR and they claimed that it's something set by New Zealand and it applies to all banks but I trade with other brokers and they NEVER interrupt trading on this pair in the afternoon. It's only IB. Their CSR is useless and couldn't tell me anything.

Does anyone here know?
Make your losses in demo. Earn your profits live.
  • #351
  • Oct 4, 2011 3:42pm Oct 4, 2011 3:42pm
Hi everyone,

I am a forex newbie looking to do a one time exchange of $200k USD into CDN. I decided to look for online brokers due to the high commission rates my local banks charge. Since I am a resident of British Columbia, Canada, local regulations restrict my access to only a few forex brokers: TradeFreedom , Interactivebrokers, and MFGlobal Canada. Which one of these brokers would be most suitable for my situation? Would all the trouble of opening an account with a broker worth my while? I expect to trade currency no more than 2-3 times per year.

Any suggestions are appreciated.
  • #352
  • Oct 4, 2011 4:16pm Oct 4, 2011 4:16pm
What regulations make you think you can only use Canadian brokerages?
  • #353
  • Oct 4, 2011 7:50pm Oct 4, 2011 7:50pm
Quoting Wacky Canuck
What regulations make you think you can only use Canadian brokerages?
Hi,

To my knowledge all forex brokers conducting business in BC must be registered with the British Columbia Securities Commission.
  • #354
  • Oct 4, 2011 9:54pm Oct 4, 2011 9:54pm
SO far as I know, if you're engaging in an international transfer of currencies, that's an entirely different creature. If you were providing a trading service based out of offices of British Columbia, I would think you would have to be registered locally of course but accessing a service as a resident of the province doesn't mean the brokerage is conducting business within that jurisdiction.

So far as I know, to exchange currencies, all you have to do is send your currency to a third party and then, that third party exchanges the currency in their own books and then sends you the requested instrument. So far as I understand it, that's 100% allowed. If you really want to find out for sure, give the BCSC a call and ask but so far as I know it, you can access any brokerage you want.
  • #355
  • Oct 5, 2011 1:14am Oct 5, 2011 1:14am
Quoting Wacky Canuck
SO far as I know, if you're engaging in an international transfer of currencies, that's an entirely different creature. If you were providing a trading service based out of offices of British Columbia, I would think you would have to be registered locally of course but accessing a service as a resident of the province doesn't mean the brokerage is conducting business within that jurisdiction.

So far as I know, to exchange currencies, all you have to do is send your currency to a third party and then, that third party exchanges the currency in...
Thanks. I will check with the BCSC. Assume I can choose any brokerage, which one would you recommend for my situation? I value security the most, followed by rates and then customer support.
  • #356
  • Oct 5, 2011 9:21am Oct 5, 2011 9:21am
Hmm...I would private message you but it seems you can't receive them yet. I would contact Pepperstone in Australia. you can check them out at www.pepperstoneforex.com

I'm biased however because this is my own broker and I've found excellent service from them. Frankly, assuming your contact with the BCSC goes as I think it will, you could use most any brokerage out there I would imagine.
  • #357
  • Oct 5, 2011 2:37pm Oct 5, 2011 2:37pm
Thanks!
  • #358
  • Oct 6, 2011 5:08pm Oct 6, 2011 5:08pm
Quoting Wacky Canuck
Hmm...I would private message you but it seems you can't receive them yet. I would contact Pepperstone in Australia. you can check them out at www.pepperstoneforex.com

I'm biased however because this is my own broker and I've found excellent service from them. Frankly, assuming your contact with the BCSC goes as I think it will, you could use most any brokerage out there I would imagine.
Thank you for contacting the British Columbia Securities Commission (BCSC).

In British Columbia, forex trading is regulated under the Securities Act, which is administered by the British Columbia Securities Commission. If a forex dealer wants to carry on the business of trading in forex in British Columbia, it must register as an investment dealer and become a member of the Investment Industry Regulatory Organization of Canada (IIROC).

British Columbia residents can trade forex contracts through registered investment dealers whose services include forex trading (not all dealers offer forex trading services). For a complete list of IIROC dealers in British Columbia, visit IIROC's web site, URL: <http://www.iiroc.ca/English/Pages/home.aspx>.

It is our understanding that following dealers currently offer forex trading in British Columbia:

1. Interactive Brokers Canada Inc.
2. MF Global Canada Co.
3. Questrade, Inc.
4. Oanda Canada Corporation

Please note there may be additional dealers beyond what is listed above. The BCSC does not endorse or promote any particular dealer.

According to my research online, many brokers does deny the application of BC residents.
  • #359
  • Oct 6, 2011 10:45pm Oct 6, 2011 10:45pm
That is odd as all hell. Essentially, you can open an FX trading account with any broker you like and trade whatever kind of volume you like in that account but if you want to simply use a broker to exchange currencies, you have to use a BCSC registered broker?

That doesn't make any sense.
  • #360
  • Oct 7, 2011 1:24am Oct 7, 2011 1:24am
Quoting Wacky Canuck
That is odd as all hell. Essentially, you can open an FX trading account with any broker you like and trade whatever kind of volume you like in that account but if you want to simply use a broker to exchange currencies, you have to use a BCSC registered broker?

That doesn't make any sense.
I heard the reason for this odd rule is historical. There used to be a lot of fx scam in BC. For whatever reason, my choices seem to be limited to these 4 brokers.
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