Interactive brokers forex question

Discussion in 'Retail Brokers' started by robert111, Mar 31, 2010.

  1. Hi, I have a newly opened account with interactive brokers and have made a few trades. Today when I logged on at about 4pm Wednesday central time, I was not receiving live forex quotes and a few minutes later a started getting them again. When I asked live chat why I was not receiving quotes, they said forex closed for 15 minutes a day. I have never read that anywhere. I thought forex was 24 hours a day till friday at 4pm.

    Are they lying to me or is forex really closed for 15 minutes a day?

    Thanks
     
  2. If you think its not true, move to another broker.
     
  3. ids

    ids Interactive Brokers

  4. I did not notice that before, thanks.
     
  5. ECN Brokers generally have this settlement time.
    Market makers and bucket shops are open 24 hours.
     
  6. and closed when you need to take your profits...:)
     
  7. Hey from 5:00 pm eastern to 5:15 the system goes down. That is considered the end of the day for most brokers. Since they are an ecn, they shut down for 15 min at rollover time. Your not missing anything. Some brokers don't go down, but they aren't an ecn.
     
  8. Pippi436

    Pippi436

    NZD pairs don't trade for a couple of hours per day (reason unknown). That's rather useless. For the other pairs, the 15 min downtime for rolls and settlement is pretty much standard, although there are firms who only need a few minutes for that.