Forex exotics in IB (OTC not IDEAL)?

Discussion in 'Forex' started by argytrader, May 14, 2010.

  1. For those regularly trading fx through interactive brokers (or savvy fx traders) i need help please.
    Apart from the major pairs (USD, EUR, CAD, etc.) for which IB explicitly posts references regarding margins, amount pos, interest rates, there are other pairs that suppposedly can also be traded in IDEAL (including liquidity from GS JPM BARX CITI RBC BOF as in majors) but for which I dont have any reference (margin, rollover rates, order size) like PNL HUF INR, then there are some other pairs that seem to be intra-IB only or OTC like RUB BRL LTV for which there isnt any info whatsoever, only that it is "available" and that it has a closing price. Questions:

    -Are these exotics effectively tradable in IB's IDEAL?
    -For OTCs or non-stated banks, the market that i access is only intra-IB customers or other ECNs banks can also see my quote and trade as in the other pairs?
    -Can a I RFQ (and trade-accept if replied) any of the exotics stated? Will this RFQ go to other IB and also other liquidity pools?. Should i expect answers?
    -Is there any liquidity in these pairs (i dont have access yet)? at least any orders?
    -How can i know the swap rates (interest rates) involved if IB does not post them in their website. example: rollover rate for USD.RUB or EUR.HUF etc?
    -What margin am i able to trade with (IB quotes specific margins for the majors 40-1 20-1 5-1)?

    I would really like to see positive answers to the above doubts as that would make IB complete all my needs in just one platform. "Change broker". I dont really intend to actively trade so many pairs so dont need a lot of bids and asks but every now and then would indeed like to be able to access some exotic currencies, all from the comfort of just one broker that also allows me to trade bonds, futures and stocks globally. That is why i would like the insights from experienced users.
  2. traderhf


    My operations are confined to only major pairs. So, I can't really answer your questions. Though, in case you do find answers - why don't you talk to IB itself? - I would be very interested in knowing the answers. So, it will be nice if you can post the answers. Also, you mentioned you will need b-a not too frequently. What size you are planning to trade will also determine if IB will work for exotics.
  3. m22au


    USD/HUF (via IDEAL PRO) is limited to closing orders only