InteractiveBrokers Forex Balances

Discussion in 'Retail Brokers' started by cscott, Aug 10, 2006.

  1. i feel your pain cscott....can't these guys make things simplier enough to follow. i mean if the chop shops can do it, surely it's not beyond them, we are traders for pete's sake, not book-keepers....
    #11     Aug 11, 2006
  2. Andriy


    This is by no means meant to excuse IB, but given that what currently exists is all we have to work with, why not take advantage of 3rd party add-on front ends. There are a few out there that do everything (and then some) that has been discussed here. I've been very happy with the one I use.

    Until IB comes around to fulfilling our wishes, it seems to me that this is the way to go (at an insignificant additional cost, I may add).
    #12     Aug 12, 2006
  3. which one do you use?
    #13     Aug 12, 2006
  4. How would you compare between IB and Oanda? What makes Oanda better than IB as far as forex is concerned.
    #14     Aug 12, 2006
  5. Andriy


    Martin --

    Given how touchy a lot of people seem to be lately (here on Elite Trader), I'm a little reluctant to name names for fear of being accused of being a shill. What I would suggest is for you to review this area of IB's website -- --

    Most of these vendors offer trials of their products. Give them all a whirl and see which ones meet your needs. Only you can make the final decision as to which 3rd party add-on is best for you.

    My telling you about my fascination with trading buttons certainly shouldn't sway whatever you ultimately decide on :D

    Cheerio ...
    #15     Aug 14, 2006
  6. cscott



    to Andriy: it's hard enough to make a profit with forex so I cannot see paying extra for 3rd party software. However, if I'm losing money trading forex due to execution problems on IB's platform, perhaps it is worth it.
    #16     Aug 14, 2006
  7. cscott


    1. easier platform
    2. more of a bucket shop
    3. can trade smaller and variable contract amounts

    1. more security of funds (forex/future funds swept to securites every night allowing your funds to be protected by SIPC)
    2. major forex broker
    3. difficult-to-follow forex trades and P/L on trading platform
    4. tighter spreads

    So... Oanda is not better for trading forex overall, just in a few areas, as far as I can tell.
    #17     Aug 14, 2006