I have been trading FX with IB. Recently I have noticed that when I place a trade on book trader, my order suddenly increases by more than a 1000%. Whenever I place an order, my actions are repeated on the book trade. For example, if I place a order for 25K, it automatically changes to 263k. Furthermore, if I delete the order, everything else deletes with it. I am aware that my order is working for 25K, and that my order is correct. Is there a explanation for this? I've work with other brokerages and this is the first time this has happened. I trade every night at Asia hours, and it occurs at least once every night. THANK YOU ALL IN ADVANCE
just checked... don't have that problem... are you running the latest version of TWS? Maybe update...
It happend to me too, when i was with IB, If try to close a long position with 1000 cfds it would turn into a short with 10000 short position, or if i try to open a position with 1000 cfds it would open a position with 11000 cfds. IB's CFD and fx departments are bucketshops, stay away from them. These are just some of the odd things that happend when i was with them.
If you have less than 10 million dollars that problem should be fixed for you (at least on opening trades) September 1st.
I read this somewhere...but i thought it was a date coming soon. not immediate. Where you think they will go? only ones left here in the US - FXCM which is on life support after the swiss incident, gain...which does not offer anything special. Totally sad in my opinion, they almost forcing all US overseas, then complaining they losing on taxes because everyone offshore.
FXCM most likely, Problem here is that IB had the best client profitability which I imagine that FXCM will start chewing through the IB traders that move over.
Recently I've gotten many questions about this news: SEC bans Broker-Dealers from retail forex transactions. I thought it would be good to add some clarification here for traders in the US: On May 20th of this year, the US Securities and Exchange Commission (SEC) announced that as of 7/31, regulated Broker-Dealers will be prohibited from offering retail forex trading. The prohibition also applies to Broker-Dealers who are dually registered as a Futures Commission Merchant or a Forex Dealer Member, such as Wedbush Securities, Interactive Brokers and Phillip Capital. Phillip Capital decided fairly quickly to halt its retail forex operation altogether in the US. Based on recent statements, it appears Interactive Brokers has been similarly affected. FXCM on the other hand is not a registered Broker-Dealer and is not impacted by the prohibition in anyway and will continue to offer FX services to US customers.