Interactivebroker spread for FOREX

Discussion in 'Forex Brokers' started by herringtrader, Jul 8, 2006.


    "BTW, your trade cost analysis wasn't bad. You should have accounted for IB's .5 which occurs by either playing in the spread or when the spread narrows to this which happens often enough. So you should have made IB's trade cost a range from $18 - $38 during "normal" market conditions."

    I am not playing in the spread I use only market orders. In this case would you say that during normal market conditions the cost of trading at IB is a little more than at Oanda? Or about the same?

    #21     Jul 21, 2006
  2. Thanks for the responses, I was thinking about changing firms to get cheaper commission, The Firm I use does not charge for commissionsm, the two pairs I trade are 2 PIPs....everything is based in your currency, their rolls are very competive too.....Their ITraderPro is the best you can find you can enter limit orders one pip away to get in and out, some platforms you can only put in a limit order 5 pips away from trade, their velocity trader platform does that now, that is why I use ItraderPro, alot of firms want to license this software, their markets never get above 5 pips wide, that is the most I have seen it, they are fixed at 2 pip for the majority of time, I will stay at and not worry about the spread because it all equals out to be the same with Oanda, IB,etc..These guys love to twist things to think you are getting a great deal, Thanks alot again for the responses.....Cheers
    #22     Jul 21, 2006
  3. I just got a 1/2 pip price improvement on my limit order

    in EUR - USD using IDEALPRO FX

    not sure if it was because another customer
    matched his order against mine or if a dealer
    gave me his price as it went through my limit

    #23     Jul 26, 2006
  4. ccooper


    I often get price improvements of about 1 pip on my limit orders on IB. Perhaps that is because I trade one of the minor pairs, with a spread that tends to jump around a lot. I would say that it happens often enough to almost make up for the commissions.
    #24     Jul 27, 2006