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Posted: Tue Oct 24, 2006 11:21 am
Anyone with experience with IB's forex service? I'm looking for a tight EUR/USD bid/ask spread and it seems only IB can offer spreads as low as 1 pip. In some other forums I heard people had problems with order executions, delays, etc.
Posted: Thu Nov 16, 2006 12:11 pm
IB are an excellent broker and, as you probably know, one of few to offer a truly universal account.
Their IDEALPRO Forex offering has been aimed initially at professional traders, ie. no trading with lots, similar to futures contracts, & definitely no mini ($10k) lots. After some time, they reduced the minimum size to $25k for USD pairs. However, the main issue for most retaill traders such as myself has been the less than optimal handling of forex positions, precisely because there are no fixed lots, making scaling in and out of positions more difficult to monitor than with a typical fx broker's otherwise vastly inferior platform (and offering).
The next TWS Build 865 is supposed to have greatly improved forex postion tracking, which I await with interest.
In conclusion - sorry for blathering on, but I really would like IB to get their fx together for the smaller trader - great potential, which will probably be fulfilled in the near future, but until then, I would suggest checking out EFXGroup.com, with whom several traders I know are very happy (I am waiting to see IB's next Build 865).
Posted: Fri Dec 01, 2006 10:42 am