IB's IDEAL Forex

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

  1. 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:

  3. 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


    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.