IB Forex

Guys,

It's been a while since I've been here, so pardon the question. I have to do some autotrading tests via IB's DDE. I'll need to do some FOREX. It looks like they have IDEALPRO.

Does anyone have any experience with this? Is it a tight market?

I sort of thought with IB you could send your order wherever you want, but I guess it's not so. I see that they have Globex, too, so there's that.

Thanks in advance.

apc

 

yo.

 

Yes, that's a possibility. However, the IDEALPRO is a cash market supposedly at interbank rates.

??

 

found this.

http://www.elitetrader.com/vb/showthread.php?threadid=52047

am I cool or what?

 

IdealPRO is currently a half-pip in EURUSD. 15mm up.

 

yeah, you're the coolest.

 

excellent info -- can't even get the demo screen yet, so I appreciate it.

any familiarity with the DDE (Excel) API?

 

No, sorry. I don't use IB's data, but I hear the API is sound. Between sessions, and we're looking at the following:

EURUSD: one pip, 20million up
GBPUSD: two pips, 3million up
USDJPY: two pips, 30million up

EURUSD is normally a fraction of a pip during the European and US sessions. Compares favorably with HotSpot or Currenex. Majors are 50:1, crosses 25:1.

 

in fact during active market hours half a pip is for amount as low as 25k. cheers

 

unfortunately, only certain contracts are available on IDEALPRO. Several that I need are not, and the spreads are, well, just like the old days.

and, the Globex quotes seem to be only for the minis.