IB TWS Forex commission question...

Discussion in 'Interactive Brokers' started by heispark, Jan 22, 2018.

  1. heispark

    heispark

    I am new to IB TWS. In demo mode, I bought 100K EURUSD with commission of $2.45. Later, I sold it in two batches, each with 50K. In a screenshot attached below, I paid $2 commission to each 50K liquidation. I expected it should be $1.22 (half the $2.45). Why is this?

    2018-01-22_18-55-05.png
     
  2. Onra

    Onra

  3. heispark

    heispark

  4. Onra

    Onra

    Sounds about right, but also check the spread from these brokers!
    That's often a "hidden cost", but EURUSD shouldn't make a huge difference...
     
  5. heispark

    heispark

    Tried again, and in this time, I liquidated whole position without splitting. Now it says, total commission is $4.9. Why is that? This won't happen in other MT4 Forex brokers...
    2018-01-22_19-45-48.png
     
  6. cvds16

    cvds16

    IB isn't an MT4 forex broker ... what matters is the spread + commission ... hope you finally are getting it now ...
     
  7. heispark

    heispark

    So, conclusion is that when I take profit of half my position, unlike Forex brokers, I have to oay more commission than when I take the whole profit. Am I correct? If this is true, it doesn't make sense to me...
     
  8. cvds16

    cvds16

  9. Onra

    Onra

    In his defence: it's IB; they are always overcomplicating things... :-(
    Schermafbeelding 2018-01-22 om 13.43.56.png
     
    heispark likes this.
  10. cvds16

    cvds16

    I would not advice to trade forex through IB ... like I said: Tickmill is great ... IB is quite good for options and stocks, good price wise for futures but not marginwise ...
     
    #10     Jan 22, 2018
    Onra likes this.