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symbol/contract to trade eur/usd with a 30k IB account
just a quick question for you: I would like to trade the eur/dollar with the best return on investment using my 30,000$ Interactive Brokers account?
Could anyone point me to the best symbol/contract that would enable me to do this?
Can you help answer these questions from other members on NexusFi?
With IB you can trade both spot forex EURUSD or the 6E futures contract, it is up to you. It will come down to position sizing and risk to some degree, once satisfied in minimum you can just stick with the futures contract.
Basically intraday is half of overnight margin. You can lookup the full performance bond requirements on cme's website: EUR / USD
Man they redid their site, really hard to find the info now. I can't recall exactly, but I think it's $3300 or $3500 or so. So intraday IB's margin would be half that.
IB's margin is very high compared to other FCM's. But this is a good thing in my opinion.
Keep your position risk at 1-2% of your account, so you may want to start with spot forex so you can trade something like 25k vol which is roughly 1/4th the size of the full 6E contract.
