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Interactive Broker Forex mini lot?


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Interactive Broker Forex mini lot?

  #1 (permalink)
Ricardo
buenos aires
 
Posts: 5 since Nov 2009
Thanks Given: 11
Thanks Received: 0

Hello Traders,

I would like to know if i can trade mini lot on Forex with IB . For example, Can i buy 5000 eur/usd?

Thank you very much

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  #3 (permalink)
 vegasfoster 
las vegas
 
Experience: Intermediate
Platform: Sierra Chart
Broker: Velocity/IB
Trading: 6E
Posts: 1,145 since Feb 2010
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No, I think you want to go with MB Trading for that.

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  #4 (permalink)
Ricardo
buenos aires
 
Posts: 5 since Nov 2009
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Hi Vegas

Thank you for you reply.

A time ago i knew that you could trade any amount, why not now? how much is the minimum amount?

tk you

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  #5 (permalink)
 energetic 
hk
 
Experience: Intermediate
Platform: NinjaTrader
Posts: 55 since Apr 2010
Thanks Given: 23
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In IB account, most of forex pair can be traded at 25K, 1/4 standard lot.

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  #6 (permalink)
moarla
Italy - Tirol
 
Posts: 17 since Aug 2011
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here are the min and max
https://individuals.interactivebrokers.com/en/trading/exchanges.php?exch=ibfxpro&showcategories=&ib_entity=llc

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  #7 (permalink)
Ricardo
buenos aires
 
Posts: 5 since Nov 2009
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thank you everyone

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  #8 (permalink)
 vegasfoster 
las vegas
 
Experience: Intermediate
Platform: Sierra Chart
Broker: Velocity/IB
Trading: 6E
Posts: 1,145 since Feb 2010
Thanks Given: 304
Thanks Received: 844

I looked up MB Trading and they have a 10k minimum. Honestly, if that's too high then I would recommend saving your money until you can trade with one of those two brokers instead of trading through a mini or micro currency dealer. There are always exceptions, but as a a general rule with a broker you are trading against other traders and it's in the broker's best interest for you to win, and with a dealer you are typically trading directly against the dealer and it's in the dealer's best interest for you to lose.

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  #9 (permalink)
Ricardo
buenos aires
 
Posts: 5 since Nov 2009
Thanks Given: 11
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Excellent tips Vegas!!!, and what about Oanda?

Thank you very much

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  #10 (permalink)
 GT22 
Currently Inactive
 
Posts: 24 since Aug 2011


I have used Oanda for years.

Trade sizes as small as 1 unit.

Trading costs less than MB Trading unless you trade with limit orders and qualify for the rebate.
FX Intelligence Analyzer: Compare live spreads and quotes from multiple brokers

Accounts can be in held in many currencies and can be changed quickly and easily.

Oanda would be a very poor choice if you wish to trade report releases since they widen the spreads at those times to protect themselves. Report traders need to use ECNs! Many of the Oanda old timers use MB or IB for report trading and Oanda for all of their other trading.

It has been proven over and over and over and over that they do NOT trade against you and that the prices are accurate.

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Last Updated on August 29, 2011


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