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Interactive Brokers - experiences and opinions

  • #481
  • Feb 20, 2014 1:52pm Feb 20, 2014 1:52pm
Quoting The Rhodie
You don't have to be stuck with Canadian brokers. You are the person who determines your success or failure. what law says you have to trade with a Canadian broker anymore? Try some of the British ones which are top notch.
Most countries require that brokers must be registered and only accept clients who are citizens of the same country. Most countries also require that trade only be conducted with brokers registered to conduct trade in that same country, violations being subject to prosecution under trade and tax codes.
You can always make money tomorrow provided you don't lose it today.
  • #482
  • Feb 20, 2014 1:54pm Feb 20, 2014 1:54pm
Check your mail.
You win, you lose. All else is history. The future does not exist.
  • #483
  • Feb 20, 2014 1:59pm Feb 20, 2014 1:59pm
Quoting KADC
{quote} Most countries require that brokers must be registered and only accept clients who are citizens of the same country. Most countries also require that trade only be conducted with brokers registered to conduct trade in that same country, violations being subject to prosecution under trade and tax codes.
So we are stuck, unjustifiably so.
Make your losses in demo. Earn your profits live.
  • #484
  • Feb 20, 2014 2:20pm Feb 20, 2014 2:20pm
Quoting The Rhodie
Check your mail.
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 the rent is dirt cheap and register that office with the IIIOC. And actually you can even go to large cities like Montreal, Halifax or St. John's and the rent there is dirt cheap. If you get an office in Montreal in one of its cheaper areas, the rent is like pocket change and you will be able to do business in Quebec also in addition to rest of Canada. Avoid cities like Toronto (rent driven up by the immigrants), Calgary or Edmonton (rent driven up by the oil industries there) or Vancouver (rent driven up by the immigrants) and you will be fine.

Looking forward to trading with some UK firms here!! Hope that will put some pressure on IB.
Make your losses in demo. Earn your profits live.
  • #485
  • Feb 25, 2014 5:20am Feb 25, 2014 5:20am
Hi Pbb, I am running into the same problem. I have an EA in MT4 but want to trade in my IB account given the considerable benefits of doing so. How have you found this product? Thanks in advance
  • #486
  • Edited 12:06pm Mar 2, 2014 11:51am | Edited 12:06pm
Quoting Exy2000
Hi Pbb, I am running into the same problem. I have an EA in MT4 but want to trade in my IB account given the considerable benefits of doing so. How have you found this product? Thanks in advance
That's amazing. I see this a lot on forums and often ask myself: People just don't read or they are unable to understand what's written ?
(I'm editing after reading again, maybe I'm misunderstanding the question on this one. The guy is maybe just asking for your feedback about the bridge ? )

Anyway, thanks PBB for this tip. Yes, you're not alone to love MT4 AND IB.
Big detail: you seem to be unable to get IB's prices on MT4, which makes perfect sense the way Metatrader works. I guess you use a demo account somewhere. Which broker do you use for the price feed ?
  • #487
  • Mar 2, 2014 2:44pm Mar 2, 2014 2:44pm
Quoting Exy2000
Hi Pbb, I am running into the same problem. I have an EA in MT4 but want to trade in my IB account given the considerable benefits of doing so. How have you found this product? Thanks in advance
Yes, I am after a review of the bridge (product)
  • #488
  • Apr 3, 2014 11:58am Apr 3, 2014 11:58am
Hi,

I need some recent opinions about Interactive Brokers' forex offer please, I plan to change from FxPro to them.

Many thanks
  • #489
  • Apr 6, 2014 1:41pm Apr 6, 2014 1:41pm
if you trade big, imho IB is the best place to go...
ΕΣΟ ΕΤΟÎΜΟΣ
  • #490
  • Apr 6, 2014 4:53pm Apr 6, 2014 4:53pm
Quoting euronext
Hi, I need some recent opinions about Interactive Brokers' forex offer please, I plan to change from FxPro to them. Many thanks
Why do you plan to switch from fxpro? I am with fxpro right now. If my account gets to around 50k then maybe I will go to IB since they only good if you have big account. IB charges commissions in trade so you need a big account to make any money with them.
Lets Make Some Money
  • #491
  • Apr 7, 2014 11:57am Apr 7, 2014 11:57am
fxpro also charges commissions 6.5$ for each lot, with IB it's 2$
fxpro's charts lack clarity, not enough levels of zoom, candles too much spaced between them, and more important from what I observed there's more price noises, IB prices is more stable
why IB is good only for big account?
  • #492
  • Apr 7, 2014 3:19pm Apr 7, 2014 3:19pm
becouse of the forex minimums...commission+trade size
ΕΣΟ ΕΤΟÎΜΟΣ
  • #493
  • Apr 7, 2014 3:20pm Apr 7, 2014 3:20pm
it's good only if you trade standard lots....
ΕΣΟ ΕΤΟÎΜΟΣ
  • #494
  • Apr 8, 2014 12:46am Apr 8, 2014 12:46am
Quoting trader65
if you trade big, imho IB is the best place to go...
not true, they have a max trade size like 10mill on eur/usd
  • #495
  • Apr 9, 2014 9:18am Apr 9, 2014 9:18am
Quoting euronext
fxpro also charges commissions 6.5$ for each lot, with IB it's 2$ fxpro's charts lack clarity, not enough levels of zoom, candles too much spaced between them, and more important from what I observed there's more price noises, IB prices is more stable why IB is good only for big account?
Leverage too small...
  • #496
  • May 2, 2014 9:10am May 2, 2014 9:10am
Quoting The Rhodie
If I had problems like this, I'd switch brokers immediately. My time is valuable. I only have one life. There is no replay button for missed opportunities.
Dude... you must be in constant broker search, because according to my knowledge they all have these sort of issues from time to time.
  • #497
  • May 3, 2014 9:22am May 3, 2014 9:22am
Some very valid issues here. But,

1. Unless you go institutional or to a bucket shop, you won't get these tight spreads and commissions.
2. Can change the currency you hold your deposits in, at any time.
3. Can trade other products.
4. Interest in paid on positive balances in any currency. Interest is only charged on your negative balances. So, it doesn't cost you anything to hold other currencies, as long as you don't borrow another currency to do so.

I don't need super accurate charts or quote feeds so their charting issues don't bother me.
  • #498
  • May 6, 2014 4:52am May 6, 2014 4:52am
I'm with IB from years and love it.
TWS is a complicated but very powerful platform, expecially for trading stocks and options.
Charting is crap, yes. Only basic charting I use.
For advanced charting there are Ninja Traders and Amibrokers (and many many others).
Ninja trader is one of the best for chart trading, expecialy for futures and forex.
  • #499
  • May 14, 2014 1:31pm May 14, 2014 1:31pm
What about Dukascopy ?
  • #500
  • May 15, 2014 10:44pm May 15, 2014 10:44pm
Quoting euronext
fxpro also charges commissions 6.5$ for each lot, with IB it's 2$ fxpro's charts lack clarity, not enough levels of zoom, candles too much spaced between them, and more important from what I observed there's more price noises, IB prices is more stable why IB is good only for big account?
its $2 per side, so round trip is $4 if the base currency is USD.
if you trade EURUSD or GBPUSD, its slightly more than $4 round trip.
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