Limit orders in Forex

not quite. CFDs are dealer markets = no trading inside spread. Limits vs markets only determine direction of potential slippage. You never provide liquidity in DMs, only take it
If it’s a game changer for you, then yes spot or futures

 

Thank you. And can you elaborate on this? "Sounds like you're converting rather than routing through IdealPro." Can you tell me the difference and how to route rather than convert?

 

FX Spot+ launch date announced, testing gains momentum

https://view.the.cmegroup.com/?qs=a...83d147fcb2ea92d6a292235a478c503f6d189f69f2511

 

Good catch. I suspect it'll be same reqs as EBS rather than EBS direct, so possibly out of reach for us mere mortals but this is an interesting turn

 

It's where the trade gets routed - when you open fxtrader make sure the destination says IdealPro rather than FXConv. IdealPro is for trading, conv for converting currencies. Conversion means no leverage, no record of it as a trade. you can change default in tws prefs.

 

Good catch only because I actually read the email updates they send me.

 

ECN connects you directly to liquidity providers, while STP routes your orders but can still add markups. ECN has tighter spreads + commissions; STP usually bakes costs into spreads.

 

Are you sure about this? This is the message that I get when I try to sell a currency I don't have "We do not support Foreign Exchange transactions that would create a negative balance or would increase a pre-existing negative balance in either component currency. However, the same currency pairs can be traded as Forex CFD. Contracts For Difference are complex instruments, we invite you to carefully review the CFDs risk warnings before trading these instruments following the transfer of your account."
It looks like I can only do it with CFDs

Nevermind, I was not hitting the minimum required order size. But I still get this message ""BUY 20K EUR.USD Forex @ 1.05000" FX trade would expose account to currency leverage." and it wont' allow me to place the order.

 

I'm afraid in europe we are not allowed to trade leveraged forex on ibkr

 

you can, sounds like you just need permissions for leveraged spot. presumably so traders don't accidentally end up 30xing their entire account by accident when trying to convert currencies.

I'll say it again though - CFDs with IBKR is a safer bet, especially if you're starting out and even if you're not. I'd bet good money they route their trades exactly the same as spot. And negative balance protection is not to be sniffed at even if it seems a remote risk.