Whats going on at IDEALPRO ????

Discussion in 'Forex Brokers' started by JLarsen, Apr 20, 2006.

  1. A lot of it will depend on how fast IdealPro executes a market order... and how long the market stays at one price. My guess is that under normal conditions, the limits will get filled at the appro prices.. but in fast moving markets, I assume that the MM will play games and not fill market orders, or wait a few seconds before they do fill them.
    #11     Jul 12, 2006
  2. BTW, I plan on using stops for entries.. if that makes any difference.
    #12     Jul 12, 2006
  3. Steve_IB

    Steve_IB Interactive Brokers

    Just to clarify the slippage issue. The "perceived" slippage is due to the way stops are triggered, and thus, you may wish to allow for it. Stops are based on the bid/ask prices - and not the last price. Thus, by design you will receive slippage from your stop price.

    For example, you place a sell stop at 1.2310.

    The offer would have to be at 1.2310 to trigger your stop. However, your order will execute against the bid. So if the market is 1.2309/1.2310, then you would be filled at 1.2309.

    So if you actually want to be stopped out at a particular price, e.g. 1.2310, then you should estimate the usual spread on the currency pair that you are trading and then add it the price (for a sell stop).

    e.g. you want to be stopped out at 1.2310.
    Normal spread is 1 pips.
    Thus, if you place a sell stop at 1.2311, this will trigger when the offer hits 1.2311 - assuming the spread is still 1 pip, then the bid is 1.2310 which you will execute against.

    Hope that helps
    #13     Jul 13, 2006

  4. Yes, very much.

    Thanks for your post Steve.
    #14     Jul 13, 2006
  5. ballyhoo


    Yes of course on that day i had a stop placed in the market, suddenly the price jumped up, i got filled, but then it jumped down again and up again and so on, thought something like a war broke out. But then i looked at other charts and they were totally calm so it was a fault of IB Interactive Brokers. Had to close the position which was not so easy. Then called IB, they said problems with their datafeed, no problem they will refund me.
    As you can see its over 3 months now and no refund from IB!!!

    The only thing i can say is, don´t trade with them, you risk your money!!!
    #15     Jul 21, 2006

  6. Careful there, IB has very devoted customers so you might upset them for speaking negatively about their broker, as you probably aware...
    #16     Jul 21, 2006
  7. ids


    ballyhoo created 16 letters in his 2 days on ET. All of them are critical to IB and/or pro-Oanda. These letters are full of accusations without any substance. In his first letter he stated, “Had an account with IB Interactive Brokers”. In this letter he is saying that he still waits for refund from us. Those who have some experience on ET understand what is going on.

    Moderator, could you please pay attention to it?
    #17     Jul 21, 2006
  8. traderob


    I use IB IdealPro and have never seen the problems mentioned by the posters in this thread.
    #18     Jul 21, 2006
  9. sccz97


    I must mention one thing .... since I've started using idealpro, the quality of fills I've been getting has been on the decline to the point where I'm not longer getting fills at all. Admittedly I trade when the markets are extremely volatile but would def like some clarification as to what has changed and whether the liquidity providers now more often than not choose not to honour thier quotes.
    #19     Jul 22, 2006

  10. This means that someone must come clean now!

    Ballyhoo, here before judges, did you or did you not commit an offence by lying about your experience with IB to promote Oanda?

    If you admit now we may forgive you!
    #20     Jul 22, 2006