Discussion in 'Forex Brokers' started by Kevin Schmit, Apr 13, 2006.
Never, I repeat, never, trade spot forex with IB.
I was surprised as well. I figured it would at least be open through Asia. It must be something to do with the market makers.
The MMs? You mean 5 of the biggest global banks have all shut down their fx dealing ops already, till Monday morning in Asia. Yeah, that sounds about right.
What's wrong with closing over weekend?
Who trades over weekend? I thought all major banks were closed during weekend.
No big traders, No liquidity.
Am I wrong?
Oh nothing---but you would think they would have put out a notice that they were not going to trade through Asia tonight etc so folks could square up.
Have you considered EBS or HotSpot FX?
The MMs are operating at their own full schedule for their prop and market making as they see fit. What they provide for IB via IDEAL Pro a different matter...
I really wondering where the problem is,
why didnt you ask them before?
I just asked the support in a 2 Minute Chat session, what time IDEALPRO will be open over Eastern hiliday and they correctly said in will be closed at 5.00 EST.
CME FX also stopped trading that time.
CME futures actually closed early for good friday
at 4:15 pm EST .
I do not think there was much movement in any
of the majors ... on good friday and sunday night should be regular opening
ps ... one should always have a backup broker
LOL. You got lucky ---I asked and they never got back to me!! They said they did not know!!I contacted them by email----I will chat with them next time --- ---I assumed the CME early close would be good. However, the last holiday ---IdealPro was open so I did not know. I play it safe ---seeing as I did not want any forex positions on over the weekend. IdealPRo is an ECN and I am sure they have to change hours etc around to please their market makers. I just wished they could have a forex calendar on their website that says the hours and updates---so traders do not have to mess with customer service (it would save them time as well). Looking at their traders calendar is a pain figuring out Ideal hours on coming holdays.
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