Had a buy stop order on IB 'ideal' forex 14k USD.JPY 77.085 filled at 77.2: 11.5 pips slippage plus commission. I understand IB charges a premium on ideal of a couple of pips over Ideal Pro, but 11.5 pips.. that's $20 slippage + commission on a small trade. Oanda, my other broker filled the same order at 77.9 for which they charged no commission. Question: can this trade be contested and the slippage reclaimed from IB? I understand it's a small sum but that kind of slippage adds up over many trades. I'm trading multiple systems with wide stops and need to keep risk under Ideal Pro minimums. Thanks in advance.
They have moved away from ideal system, earlier used to be +1 spread above idealpro, but now it is all random....getting filled 10 pips off market now when you are trading below idealpro size is to be expected now. Happened to me 2 months back and i got above answer from ib. However, it happens like 1 out of 5 cases or 8 cases. so not to worry much. What you gotta do - trade lesser # of pairs at one time till the time you can trade minimum of 20k size in euro or 25k size in usdjpy. Or deposit some money in your account, it will take you above the idealpro size.
IB is not good at all for tiny odd lots. Use it for strategies with higher lots involved. For tiny lots Oanda is much better. IB FX trading is excellent as soon as you are able to use IDEALPRO sizes.
This slippage is really huge. I don't remember getting the same one from my company.You could be in troubles some day...
My last 20 trades that were under ideal pro minimums all filled ok (<2pips slippage on the major pairs), so hopefully this was just an extreme one off.