I have traded stocks for a few years. I am considering trading forex through IB, never traded it before, will paper trade for a bit. I would be grateful for any advice and/or experiences trading forex through IB. What might be the advantages / disadvantages such as margin ( it is 40:1 by the looks of it), working hours, anything else. For instance I can see that as I write this and watch EUR.USD the last price is marked as the closing price C1.41. But I thought that forex is open 24/7, so what is with the closing price? I can see that IDEALPRO is the exchange used. Thanks in advance.