I've been with IB for nearly 3 years. Only ever had one real problem with connectivity. Overall a great broker for fx. I trade eur/usd and usd/jpy, very competative spreads. I use Button Trader as a front end for scalping, I recommend you look at this, you can manage a position on the fly beautifully with it.
I was wondering what's the max trade size. I mean if i want to short gbp/usd. Is there a max how much in a single order you can place. I know as the account increases, I will scale up my orders.
Thanks, so for people who use IB for Forex. If the maximum order for gbp/usd is 6 million. Isn't it hard to scalp or trade if, you scale up to 20 million positions?
pb or tier 2 bank think FXAll, EBS, HotSpot or any proprietary bank platform Also, the above link reads to IB's maximum order size, not position size, so I am sure you could throw a couple of 5MM orders at the same time if you think you could get filled w/o much slippage
Another user of this forum said that this limit can be raised by IB if you ask. Don't know if its true tho.
oh ok, they seem to be good. The only thing I'm not sure is that it feels like even with IB'S 2.5% margin level, it feels like more. Shorting 3 million gbp.usd seems to take 100k in buying power. I'm so used have 1 to 100, but even then it would only cost me 30k for that position with say fxcm. Am i missing something, or are 3 million short of gbp.usd with IB, not the same as 3 million short in FXCM'S platform?
In retrospect, I think you would be better off with FXCM for a while. BTW, ask around and find out how many fx brokers, let alone ECN brokers that accept small time traders (face it, we are all small time players in this market) have account protections up to $1MM in cash insurance. If you really want ECN + 100:1, there are a few, notably Dukascopy, but I would suggest you do a little research about them first.