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Interactive brokers forex rates

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interactive brokers forex rates

More Featured Forex Brokers Open a free demo or live account with a featured forex broker. More AutoTrading Copy the trades of expert traders automatically on your own account. SO IB placed a bot trade on the aud. Everything just works, and I never had any problems with them. But don't trust me, AlphaJudge gave them thier best broker review: This morning they informed me that they will be taking money out of my account to pay for a non-working, 3 year old, security token that i finally threw out after a year of uselessly, sitting in my desk drawer. This to me is STEALING my money!! About 3 years ago out of the blue, IB couriered a small plastic security device to me with a letter telling me i had to use the device and instructions on how to do so. The rep said no problem and couriered out a new device to me. I received the new device shortly and continued on with trading life. Most recently the second device died and i phoned IB once again. This time i was asked to send the non-working device back and i did so and receive a new security measure shortly after. This was when IB informed me that i needed to send back the device from 3 years prior, that i had just thrown out. RUN the other way!! You'll get a different answer from every rep on the same issue. Always reconcile to Cash forex hold the rep down until he can show you how the numbers reconcile to Cash. This is not always possible. But they did put a hard fix for me few times when they couldn't weasel out. Also they pinch a cent or two here and there and explain it by the "rounding error". Cannot hold a candle to Dukascopy. Their Forex interactive and booktrader are in my opinion deliberately set-up to mislead because they appear to be tracking your base currency USD, in my case. However, their accounting claims that the actual trade was in the paired currency. This is wrongly and falsely claimed for the purpose in my opinion of stealing money from clients. There should be a serious examination of this company by the US Attorney. Class Action Attorney for hire could make a fortune! If you are trading manually, then this is a great company to trade with. I hired programmers to develop a system to connect with IB's API. It worked but found out later that IB shuts their platform down in the night for maintenance. So, not a good place for automated trading. Low spreads, limited customer service. It is a place for the sophisticated trader that wants low spreads and does not require much assistance - Reviewed by randy, August 30, They have repeatedly been DISHONEST and cheated me out of money. I am finally closing my account. Traded stocks and Forex. THEY ARE THIEVES THEY WILL STEAL YOUR MONEY. Terrible customer service, buggy, complicated interfaces both java and web. Practically impossible to decipher their reporting, no traceability, dysfunctional audit function pretty well impossible to figure out what is going on in your account once you have opened a dozen positions in a couple of different currencies. I just had 2 currency trades busted In other words even if you managed to figure out what the hell was happening in brokers account the next day things may change without you having any say in the mater Be careful record every separate trade independently. So, for example, if you live in the US, after you close a trade, say in GBPJPY or EURJPY, you have JPY in your account instead of USD. Then they hit you for a commission and a large spread to convert the Yen in your account to Dollars. In the meantime, your account is subject to fluctuations in the Yen until you close out the non-base currency this second time. Their customer service is horrendous. Their reps are argumentative and very obstinate. They are not able to answer questions and are all attitude. Their accounting system is bizarre beyond belief and inaccurate. It is impossible to get tax information forex a reportable fashion from them. Their spreads are tight however. It has been more than 5 years for me at IB. I've used their Forex frontend and had to just give up. There's too many other better alternatives try MB's new MetaTrader frontend for forex. My trading has been in stocks for the most part, and all the ills mentioned before are true. One thing that is a MUST know for any of you who is thinking about a new account is the fact that IB has officially took a stand that they are not responsible for your Stops, or Limit orders. In other words, I was recently notified that they would not necessarily fill my 'buy stop' placed on a short position. If you don't use a hard stop this rates fine, but if you would like to buy something and place a stop, and go play, you may be unhappy with what you find on returning. How do I know? It has indeed happen to me. The stop was not filled, but price was very much past it, and the stop was still active in the software. This and similar problems has happened many times. So, when they warned of not honoring a stop, they meant it! The low commissions sound great, but you'll do better shopping else ware. Non existent customer service. First - IB's failure to execute stop loss orders during overnight trading on Aug When I complained, 2 IB Canada representatives acknowledged receipt of my stop loss request but suggested that it was my fault it didn't get executed because I rates trading "after hours". I also pointed out that the stop was actually hit at 1: Second - Somehow two positions opened around 30 minutes after midnight on Sep while I was in bed sleeping on vacation. When I returned from vacation on Sep and opened TWS to do some trading I was alarmed to see these positions. I immediately closed both positions and contacted IB Canada. After being on hold for 20 minutes, [name withheld] checked the audit trail for these trades and acknowledged that there was something inconsistent, but refused to tell me what that was, instead he said he would call me back FYI - since AugI've been performing a print screen of my account and portfolio page each day so that the date and time are visible and on Sep there were no open positions or limit orders showing on the IB trading page. I filed a complaint with CFTC Enforcement who responded by stating that IB Canada is not registered with the CFTC. They also suggested that I file a complaint with the National Futures Association NFA which I did but have not had any response from them as of this writing. I have instructed IB Canada to close my account and transfer my remaining equity back into my bank account. I have been an IB Canada customer for over 2 years and can honestly say that I've never experienced a service work so hard at not providing customer support or mitigation Complex but powerful trading platform. Unique account management capabilities for those having multiple accounts or wanting to trade internationally. Slow, sometimes inept or non-existent customer service. Some bugs in the software. I used to trade with OANDA, which has "friendlier" software, but was drawn to IB for a variety of reasons. Also, the trade size minimums are substantial and will exclude small, recreational traders. The spreads are as small as I've seen anywhere; they state that they don't pad the spreads, but instead charge a flat, per-transaction fee. I haven't seen any reason to doubt this. They had been a huge waste of my time and money. Execution takes a bit of time, spreads need to be a little tighter You trade more will lose more. And you will never have any chance to understand the complicated account statement. Worst customer service with the rudest staff. Complicated platform, will waste a brokers of time when you trading. The charts are the worst The most complicated platform with long time to load up. Complicated passcodes to enter each time you log in. The charts are the worst amongst all brokers. Low rates, big company, many products offered. Stay away if you're not trading alot to save rates the rates. Amongst the safest broker to choose, and have a very big capital and insurance for it's member. But GOD help you if you have a problem and need to talk to customer service!! Can place limit orders within the spread. Very advanced API and many vendors to choose from. The front end I use will place stop and TP orders upon execution interactive an order. It will also place staddles and bracket fade orders. One click to modify orders on a DOM. One of the largest brokers for safety. Can also trade everything at one broker in one account; futures, spot, stocks, bonds, options, international securities. Spreads are small, execution flawless. ECN type is great because they don't seek stops. They also have horribly slow execution. The average execution during news events is over 10 seconds in my experience. Probably about the worse I have ever experienced. The biggest problem with Interactive Brokers is that after you close a trade, you often are stuck with foreign currency in your account what they call non-base currency and then you have to convert that money to your base currency. Top Traders on Twitter. Subscribe to receive free offers and new features - Read Latest Newsletter Email:. Read IronFX User Reviews. Choose from a multitude of forex traders. Open a free demo or live account with a featured forex broker. Copy the trades of expert traders automatically on your own account. Hi, after opening an occount with them approx. I use this broker to trade and just wanted to say I'm really happy with forex. Interactive Brokers is the WORST broker for customer service. Lousy charts and cumbersome to navigate platform, but excellent brokers and execution. IB is a complete fraud. IB has some of the lowest spreads in the industry. It is a place for the sophisticated trader that wants low spreads and does not require much assistance. I have had an account with them for six years, averaging trades per week. I traded with IB for about interactive years had 2 accounts. I must agree with most of the negative comments I've read here. Shuts down for repairs late at night - forget automated trading during these times. I've experienced 2 suspicious activities with IB Canada. Good information, execution and fees. Rude and ignorant customer service who do not understand IB's procedures. They are hard to communicate with, If you try to withdraw funds, they hold it for 5 days. I wouldn't recommend it. Always stealing money from your account. The worst customer service with the rudest staff. Great execution, fast platform with Java. Great execution and platform. Unbelievably low spreads, horrible customer service and so far no problem with slippages. Been with IB for years. They were good at first, but then they started filling me outside the spread and essentially stealing money from me. I love IB, because they allow me to enter limit orders within the spread.

How I Trade Forex with InteractiveBrokers

How I Trade Forex with InteractiveBrokers interactive brokers forex rates

2 thoughts on “Interactive brokers forex rates”

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