If not IB...where?

Discussion in 'Forex Brokers' started by gowron8, Dec 27, 2005.

  1. gowron8


    IB seems to be the best place to trade ECN platform forex right now, however I'm not at the point where I can put up min 25,000 cash for each of my trades to qualify for Ideal-pro. I'm used to dealing with 1-5 standard lots at 100:1 leverage (1k-5k cash range)
    Can anyone suggest other good ECN based broker options that might fit my financial parameters?
  2. It's not a $25k minimum deposit; it's $25,000 notional at 50:1. You have to trade $25k lots of USD equivalent or >.
  3. gowron8


    So to clarify you can trade 25k lots with 50:1 leverage meaning one can enter a trade through Ideal-pro with a minimum 500 dollars cash from an IB margin account?
  4. I don't know if there is a minimum deposit, but if so, it's nowhere near $25,000. Yes, otherwise the math is correct, 50:1 leverage.
  5. Hoi


    Yes that is correct.
    I believe, that you need $2000 to open a Margin-account at IB, but there are no minimum needs aside of that (so if your account falls below the $2000 you still are allowed to trade 25.000 in Forex margin).

    Note you can trade odd lots above the 25.000 (so 25.075 or 26.456).
  6. gowron8


    Ok. Thanks. My confusion stemmed from the fact that an IB CS rep told me that 25,000 USD minimum was required as margin to make a trade. Strange
  7. KaliKali


    Might be that they were quoting the margin required for daytrading stocks.
  8. What are the symbols for getting Forex data out of IB's API?
    How does this data compare with other sources?

  9. Vytautas


    Go too Man Financial
    #10     Jan 8, 2006