IB FX Trader?

Discussion in 'Forex Brokers' started by blackstormcap, Apr 30, 2012.

  1. i used to find it good because of its decent commission and frequent price improvements but now i decided to switch because of its ridicuously high overnight interest charge and disappearance of price improvement.

    i get very upset whenever i look at the interest charge. only shorted a low-yielding currency for a short time but the interest is really a lot.
  2. Yeah, IB's interest markup for forex spot/swap positions is really bad... it's the one thing about them that bewilders me, since they try hard to be the "professionals" broker within the retail space with low costs for most other transactions yet completely bend clients over with cost of carry in FX.

    It just doesn't fit.. *shrugs*

    Swap rates and cost of carry isn't something people compare too often between brokers, and I've been trying to find a good resource that ranks brokers on this... might have to do it myself and post it online.
  3. I haven't noticed any change. Looking at my orders today, I received price improvement on at least 1/3 of them.