IB's IDEAL Forex

Discussion in 'Forex Brokers' started by Hayek, May 30, 2005.

  1. Hayek

    Hayek

    No, not IDEAL Pro. Just for exchanging, not for trading.

    Please, if you can, post bid/ask spreads for IDEAL Forex here. Thank you.
     
  2. I've inserted a bunch of IDEAL tickers on my TWS screen... here you go:


    [​IMG]
     
  3. Hayek

    Hayek

    Thank you.

    May you post the spread for USD/HKD in IDEAL Forex?
     
  4. As of 9:47 EDT...

    IDEAL: HKD/USD 7.7728 / 7.7849 (size USD 200,000 bid and ask). Spread = 121 pips.

    For reference, IDEALPRO: 7.7800 / 7.7805 (2,500,000). Spread = 5.
     
  5. Hayek

    Hayek

    Thank you.

    For USD/HKD, the spread is really too large. We can get less than 100 pips spread in normal commercial banks.
     
  6. Steve_IB

    Steve_IB Interactive Brokers

    The quote in IDEAL-Pro is 5 ticks wide, currently 7.7788 / 7.7793. I've never seen a better quote than that anywhere else.

    If you are from HK, and are thus, restricted from using IDEAL-Pro, then you can use IDEAL. Although the spread is much wider, you can post in between the spread, so if IDEAL is showing 7.7750 / 7.7850, you could bid 7.7800 and your order would be shown as best bid. While you may get a worse price than IDEAL-Pro, you should still be able to get a better price than the commercial banks.

    As a sidenote, we are working with the SFC in order to get approved to be able to offer IDEAL-Pro to HK customers.