Hi , Ib just added a new forex provider, has anyone noticed a tightening of the spreads, last time I checked, they were in the range of 3-4 pips for EUR/USD for example
here are some representative spot rates for IB in forex at 9 pm EST MAJORS PAIRS EUR / USD 2 PIPS GBP / USD 3 PIPS CHF / USD 4 PIPS USD / JPY 2 PIPS CROSSES ... EUR / JPY 2 PIPS GBP / JPY 5 PIPS
good, there have been improvements then ! way to go IB ! if you add a couple more providers, we should end up with an almost nil spread..and pay only the commissions
Disclosure : if you're a forex only trader, Oanda is still the way to go ,their spread for EUR/USD is around 1-1,5 pips
IB seems to be better with some of the other pairs compared to Oanda ( yes I know .. .the commission ) but I don't think there are "re fresh " quote problems with them like some of the others ( ok ... not sure how IB would be during NFP # )
Thank you Setharb. How are they on the Nzd/Usd. Can you do the Eur/Cad? How many actually crosses do they cover?? I cannot find it on their website. I am guessing all G7 and G7 crosses?
No, we don't offer NZD (although you can do NZD futures). You can do EUR/CAD, current spread is 6 points (time is 2300 US EST) We offer all the possible combinations of the following USD, EUR, CHF, CAD, JPY, AUD, HKD, GBP, so i think that comes to 28 currency pairs.
Anybody have a problem with IB IDEALPRO quotes stopping at around 00.10 to 00.15? A good spread isn't much use if the quotes don't move with the market. HotspotFX quotes moved as did commingled chart feed but IB's quotes all stayed there with USD/JPY not moving from 74-76 when the market saw 80. Doubt that an interbank dealer could get that far out of line so why did this happen?
if you you thought the IB IDEALPRO quotes were stale and needed to open or close a position at that time ... you could A: hedge using futures B: call IB help desk in Hong Kong instead of C: wait for quotes to return