FX Guy
Dec 11th, 2008
Dec 11th, 2008
Interactive Brokers
I became familiar with Interactive Brokers back in 2006, and I’ve always wanted to be a part of this brokerage because I’ve heard nothing but good things about them from experienced traders. I also saw many commercials for Interactive Brokers on television ads claiming they allow you to combine all your trading accounts, Forex, Stocks, Commodities, Futures, etc. into one account.
I remember sitting up and taking notice when I heard of its College Trading Olympiad which was open to undergraduate and graduate students worldwide in which participants had to devise a trading strategy and then create automated trading software to carry out that plan.The student or group of students whose program created the most profit won $100,000 cash prize!!! Interactive brokers has been in the trading business for almost 40 years!
Some important facts about Interactive Brokers Group include:
- Holds $4 billion in equity
- Handles 1,000,000+ trades daily.
- Has been operating in the trading market for 32 years.
- Customers are protected by $30 million of SIPC and Lloyd’s of London securities account protection.
- Real-time margin system enforces limits for each trader’s account, and automatically liquidates positions if any individual account violates its limits.
- All orders are automatically vetted on a pre-trade basis.
- Does not hold CDOs, Subprime Debt, or Credit Default Swaps.
- Positions and resulting payables/receivables are automatically reconciled against external sources daily.
The IB Risk NavigatorSM is launched, a real-time market risk management platform for customers, providing unified risk data across multiple asset classes around the globe.
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IB is a really great broker. If you can afford the initial deposit then its worth it. LOW ASS SPREADS, LOW COMMISSION, 100% worth it.
IB is on helluva forex broker, definitely the best!
IB Broker is one of a kind, one of the best forex brokers in the world, low spreads, ECN broker, just really awesome experiences with them
[...] Interactive Brokers | Forex Broker Comparisons I became familiar with Interactive Brokers back in 2006, and I’ve always wanted to be a part of this brokerage because I’ve heard nothing but good things about them from experienced traders. [...]
I had with IB for 2 years until they screwed me with a tech error. Everytime I try to buy 2.5 lots, it gave me 5. I quickly closed the position. Then I go short 5 lots, and see that I am short 10 lots. They doubled up on me and I closed my positions for quick losses from the spread and commissions. I notified them of this and they mentioned something out one of there liquidity providers, blah blah blah and something about it was on a disclosure statement. Botttom line, the did not even credit me the commissions. I was a long time client, that trades on average 30 full lots per day…And because of the down times issues with the platform, i just threw in the towel.. So i must say I rate them 3 out of 5.
I have found a better platform with much less downtime too. Moved everything over to a Currenex ECN.