IB's "IDEAL"

Discussion in 'Forex Brokers' started by Yellow Duck, Nov 15, 2005.

  1. Hello all, I was curious if anyone uses IB's "Ideal" service to convert or trade their currency a bit?

    Do they even allow you to invest and trade your currencies on Ideal for you to make some profit? Or they do not count any profits if you decide to convert your currency back to whatever it was?

    I'm asking because if they let you do that than I'd be very interested in just investing on a currency with no margin and leverage to kill me. Lol.

    Also would anyone be so kind and explain what this means, I found it in the notes section on Ib forex:
    "IB will break trades that are more than 3% away from the market on cash Forex at IDEAL."

    And no I'm not interested with trading on ideal pro with margins and leverage, i like cold hard cash. :)

    ps, sorry if some of my writing is unclear it's so late at night and i'm tired, thank you for reading through my post!

    :D
     
  2. def

    def Interactive Brokers

    You can convert your funds to any currency you desire. All profits/losses are yours.

    The bust rule is a safeguard against out of range trades.
     
  3. hi def ...

    from what I am seeing now

    EUR SPOT IDEALPRO FX shows

    1.1694 X 1.1696

    but USD / EUR on
    IDEAL shows 0.8547 X 0.8553

    what is EUR / USD on IDEAL doing ?

    it seems to stay at 1.17 X 1.17 locked
    or disappears ?

    ( I know the numbers will have changed by the time you read this )
     
  4. Wow, well, that's what I wanted to hear, thank you!:D

    Also, last questions about the price would be, what are the commissions per conversion and what's the bid/ask price like in relation to IdealPro?

    Thanks and goodnight!
     
  5. def

    def Interactive Brokers

    seth, go out 1 more decimal and and it is 1.1692 at 1.17. if you pop up USD/EUR on IDEAL you'll get the inverted price.
     
  6. def

    def Interactive Brokers

    IDEAL will be slightly wider. You should use IDEALPRO if possble, if you don't need margin, margin will not be used. Commish is 0.2 pips or .00002.