How stupid can you get: do you think someone is going to check millions of trades done every week, with all customers accounts ? Who is going to pay for that ? You ???? LOL
Of course IB is not pure agent, why they have a size limit of 5 million for trading forex ? Forex is not regulated, that's why they can impose a size limit for forex. Size limit is to protect their forex dealing desk and they will only increase the size limit if they can make money of your order flow
I assure you I'm not stupid nor do I think name calling serves as a substitute for reasoned debate. If you can't conceive of the computational ability to track a brokers trades in their entirety (aka an audit), then you lack the basics necessary to understand what I've said.
I don't remember asking for your work history; nor am I concerned with such matters. If you wish to make a point or counter statement that helps further the knowledge of this discussion, then please feel free to do so.
Please do enlighten if you are capable. As background here is something I posted before by someone who has a verifiable resume as a former broker and market maker that supports what I'm saying. This is a post from Bill Cara's blog 10.2.2006 {(Humungous Bank & Broker's) H B & B trades against the order flow of its clients, including the hedge funds. It's basically a no-risk business because the broker-dealers hold the collateral, analyze the holdings and the strategies, and use this all-important info for their own gains. And, in the futures business, for every gain there is a loss. Would any casino player play 21 (blackjack) if the dealer's knowledge of all the cards on the table was a rule of the house? Would anybody play poker if one of the players knew in advance everybody's cards and how they would play them (and was the banker)? I have been saying this for years but too few people listen. ... ... HB&B is the player that is keeping government regulation out of "their" capital market, and that's because they are the winner and everybody else the loser. But, except for the fact it is the People's capital market, they get away with it because the People have stopped thinking -- they've been brainwashed into believing that "our" market needs to be under the control of HB&B.} This is from his Bio on the Blog: {Bill Cara has extensive experience in the Canadian securities industry. He was the co-founder/CEO of Qtrade Investor (Canadaâs leading online broker), founder and President of Security Traders International (offshore trading broker), President of William Cara Investment Bancorp (registered Ontario securities dealer), founder/CEO Canaccord Capitalâs Eastern Canada Operations (Canadaâs largest full-service independently-owned broker-dealer) and broker and portfolio manager with Dominion Securities and Dominion Securities Investment Management (now RBC).}
This thread requires a serious answer from IB. And, kiwi trader, why is it that you always defend IB no matter what? I have read others saying you are a defendant of IB's interest. I was skeptical but looks like they MIGHT be right. Your blatant brush off is sickening.
Tyrant, we've answered this before and can't be expected to answer the same question over and over on this message board. Timber Hill doesn't have knowledge or make trading decisions of IB orders. The order routing, speed, stats and disclosures along with client observations would make this clear to someone utilizing our software.
Why you have a size limit per order of 5 million for forex if you are only the "broker" and do not take the other side ? (a lot of forex bucketshops have size limits to protect themselves ,not the client)