Trading with IB - Reviews of Brokers and Data Feeds | futures io social day trading
futures io futures trading


Trading with IB
Updated: Views / Replies:1,031 / 4
Created: by tubular2000 Attachments:0

Welcome to futures io.

(If you already have an account, login at the top of the page)

futures io is the largest futures trading community on the planet, with over 90,000 members. At futures io, our goal has always been and always will be to create a friendly, positive, forward-thinking community where members can openly share and discuss everything the world of trading has to offer. The community is one of the friendliest you will find on any subject, with members going out of their way to help others. Some of the primary differences between futures io and other trading sites revolve around the standards of our community. Those standards include a code of conduct for our members, as well as extremely high standards that govern which partners we do business with, and which products or services we recommend to our members.

At futures io, our focus is on quality education. No hype, gimmicks, or secret sauce. The truth is: trading is hard. To succeed, you need to surround yourself with the right support system, educational content, and trading mentors Ė all of which you can find on futures io, utilizing our social trading environment.

With futures io, you can find honest trading reviews on brokers, trading rooms, indicator packages, trading strategies, and much more. Our trading review process is highly moderated to ensure that only genuine users are allowed, so you donít need to worry about fake reviews.

We are fundamentally different than most other trading sites:
  • We are here to help. Just let us know what you need.
  • We work extremely hard to keep things positive in our community.
  • We do not tolerate rude behavior, trolling, or vendors advertising in posts.
  • We firmly believe in and encourage sharing. The holy grail is within you, we can help you find it.
  • We expect our members to participate and become a part of the community. Help yourself by helping others.

You'll need to register in order to view the content of the threads and start contributing to our community.  It's free and simple.

-- Big Mike, Site Administrator

Reply
 
Thread Tools Search this Thread
 

Trading with IB

  #1 (permalink)
Trading Apprentice
Montreal quebec
 
Futures Experience: Intermediate
Platform: Ninjatrader mt4
Favorite Futures: Forex
 
Posts: 16 since Aug 2013
Thanks: 0 given, 5 received

Trading with IB

I am currently trading with oanda and want to switch to IB to use Sierra Chart as my main trading platform. The thing is oanda only charge the spread while IB charge a 2.50$ minimum commission/trade. my strategy calls for a lot of small trades instead of few big ones, so the commission will eat up a lot of my profit. I'm trading only XAUUSD and EURUSD. does any one know of a workaround for this.

Reply With Quote
The following user says Thank You to tubular2000 for this post:
 
  #2 (permalink)
Quick Summary
Quick Summary Post

Quick Summary is created and edited by users like you... Add FAQ's, Links and other Relevant Information by clicking the edit button in the lower right hand corner of this message.

 
  #3 (permalink)
Site Administrator
Manta, Ecuador
 
Futures Experience: Advanced
Platform: My own custom solution
Favorite Futures: E-mini ES S&P 500
 
Big Mike's Avatar
 
Posts: 46,240 since Jun 2009
Thanks: 29,352 given, 83,233 received



tubular2000 View Post
I am currently trading with oanda and want to switch to IB to use Sierra Chart as my main trading platform. The thing is oanda only charge the spread while IB charge a 2.50$ minimum commission/trade. my strategy calls for a lot of small trades instead of few big ones, so the commission will eat up a lot of my profit. I'm trading only XAUUSD and EURUSD. does any one know of a workaround for this.

Oanda has a good reputation. I think IB has a better one.

You should compare apples to apples, that means you should compare say 30 days of actual fills, slippage, commissions and fees from one broker to the other. Since you are trading spot forex, every bank has their own price - so you may find IB is giving you better fills (or you may not). If you did get better fills from IB, it would help offset the cost difference.

Also as I'm sure you know, you can increase the size with IB for the same price. So you might need to just modify your strategy to account for this. That is the most likely "workaround".

In the end, you can try to put some pressure on Oanda to support Sierra Chart. My understanding is Sierra Chart is open and willing, Oanda is the ones that seem to not care about expanding their business.

Mike

Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.

Need help?
1) Stop changing things. No new indicators, charts, or methods. Be consistent with what is in front of you first.
2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses.
3) Set goals for yourself to reach daily. Make them about how you trade, not how much money you make.
4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance.
5) Where to start as a trader? Watch this webinar and read this thread for hundreds of questions and answers.
6)
Help using the forum? Watch this video to learn general tips on using the site.

If you want
to support our community, become an Elite Member.

Reply With Quote
 
  #4 (permalink)
Trading Apprentice
Montreal quebec
 
Futures Experience: Intermediate
Platform: Ninjatrader mt4
Favorite Futures: Forex
 
Posts: 16 since Aug 2013
Thanks: 0 given, 5 received

i think oanda had a good reputation for a long time and now they are surfing on that to attract new traders, but other brokers are catching up and offer a choice of platforms, other then MT4. I've recently contacted them and it is not in their plans to offer a mean to connect to other platform.

I've been a satisfied oanda user for a few years now, but can't stand to work with MT4 anymore, it's like going to war with a bow.

increasing my lot size looks like the only alternative to work with IB.

Reply With Quote
 
  #5 (permalink)
 Vendor: tradingcode.net 
The Netherlands
 
Futures Experience: None
Platform: MultiCharts, TradingView
Favorite Futures: ...
 
Jura's Avatar
 
Posts: 774 since Apr 2010
Thanks: 2,347 given, 661 received

Answer
This post has been selected as an answer to the original posters question Answer


tubular2000 View Post
I am currently trading with oanda and want to switch to IB to use Sierra Chart as my main trading platform. The thing is oanda only charge the spread while IB charge a 2.50$ minimum commission/trade. my strategy calls for a lot of small trades instead of few big ones, so the commission will eat up a lot of my profit. I'm trading only XAUUSD and EURUSD. does any one know of a workaround for this.


tubular2000 View Post
i think oanda had a good reputation for a long time and now they are surfing on that to attract new traders, but other brokers are catching up and offer a choice of platforms, other then MT4. I've recently contacted them and it is not in their plans to offer a mean to connect to other platform.

I've been a satisfied oanda user for a few years now, but can't stand to work with MT4 anymore, it's like going to war with a bow.

increasing my lot size looks like the only alternative to work with IB.

Sierra Chart also works with LMAX, which has a minimum position size of 1.000 units (so no 25k units for IDEALPRO), smaller slippage (no minimum tick size of 0.5 pip as with IB), and with a commission of 0.0025% of notional trade value (so no minimum $2.50).

Sierra Chart's implementation of the LMAX connection uses the FIX API however, which means you'll have monthly account minimums (in terms of volume and account size), or else pay the API fee.

An alternative, also since you mention you only trade two instruments, would be MultiCharts .NET Starter Edition (which is free): more professional than MT4, and uses the other API version (so no monthly minimums).

Reply With Quote
The following user says Thank You to Jura for this post:

Reply



futures io > > > > Trading with IB

Thread Tools Search this Thread
Search this Thread:

Advanced Search



Upcoming Webinars and Events (4:30PM ET unless noted)

Jigsaw Trading: TBA

Elite only

FuturesTrader71: TBA

Elite only

NinjaTrader: TBA

Jan 18

RandBots: TBA

Jan 23

GFF Brokers & CME Group: Futures & Bitcoin

Elite only

Adam Grimes: TBA

Elite only

Ran Aroussi: TBA

Elite only
     

Similar Threads
Thread Thread Starter Forum Replies Last Post
Instrumenta-IB and Ninja-trading weekends asiaexpat Reviews of Brokers and Data Feeds 4 March 17th, 2013 12:27 PM
Sim Trading CL on IB UnderPar Reviews of Brokers and Data Feeds 4 December 20th, 2012 05:16 AM
IB Trading Currency Futures Massive l Currency Futures 38 July 15th, 2011 12:30 PM
MBT vs. IB for Serious Forex Trading wangwang Reviews of Brokers and Data Feeds 1 June 17th, 2011 02:43 AM
Auto trading CL futures with Ninja and IB goforbroke01 NinjaTrader 22 October 29th, 2010 02:51 PM


All times are GMT -4. The time now is 05:11 PM.

Copyright © 2017 by futures io, s.a., Av Ricardo J. Alfaro, Century Tower, Panama, +507 833-9432, info@futures.io
All information is for educational use only and is not investment advice.
There is a substantial risk of loss in trading commodity futures, stocks, options and foreign exchange products. Past performance is not indicative of future results.
no new posts
Page generated 2017-12-14 in 0.10 seconds with 27 queries on phoenix via your IP 54.221.73.186