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that is pretty much a standard setup, not sure why you would use IQ for FX since their data comes from 3 other sources other than IB, unless you are trying to do arb? ... anyhow .... as to the whole mini piece, I think any FX trade under $25K uses regular IDEAL vs. IDEALPRO..
Unless something has changed, my understanding is that sub IDEALPRO sized orders get automatically re routed to IDEAL. During testing I get the alert that this has happened.
If I was scalping, I don't think the numbers would work, but my strats are looking for 150-200 pip moves so I have room to soak the extra expense. The main reason for mini lots is I want to keep each trade below about 2% of my account, and going after larger moves requires a larger SL. I would like to solve the problem of IB not acting on the PT & SL it has posted from MC. The MC support have had a good crack at it but so far MC/IB simply will not autotrade FX (mini or regular lots). The consensus is that it should work, but we can see that it isn't, and so far I haven't had any luck finding someone who is actually doing it. Any suggestions welcome....
not to put the guys from MC on the spot, but if no spot FX trades are taking place at all, that would usually mean their API interfacing has issues... I assume this is on SIM you are trying to test against first?
anyhow, the best IB API implementation on a third party tool that I have seen comes from button trader... and from working with someone who does, it can be difficult.
This is using the IBdemo account, not the paper trading account: IB gets in the trade from MC on cue, posts the PT & SL on cue, but then wont trigger them to exit the trade.
