Interactive Brokers vs FXCM for UK - Reviews of Brokers and Data Feeds | futures io social day trading
futures io futures trading

Interactive Brokers vs FXCM for UK
Updated: Views / Replies:2,690 / 13
Created: by TangoMykeCharlie 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 100,000 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 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 dont 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

Thread Tools Search this Thread

Interactive Brokers vs FXCM for UK

  #11 (permalink)
Elite Member
Luxembourg, Luxembourg
Trading Experience: Advanced
Platform: TWS
Broker/Data: Interactive Brokers
Favorite Futures: Stocks
Posts: 491 since May 2012
Thanks: 1,641 given, 1,142 received

TangoMykeCharlie View Post
1. It would be a lot of additional coding work for me to correctly allocate any PnL to the appropriate strategies.

I was thinking about this item a little overnight and I am not sure how not being able to maintain open orders would make assigning P&L that much more difficult. The only way I can really see is if FXCM gives each trade a unique identifier, in which case the closing out of positions can create problems if you rely on their identifier.

However, you could pretty easily work around this by keeping track of your own PnL. Since individual trades still trigger in the market, you know at which price they trigger and by keeping track of your trades and positions you can correctly assign PnL to various strategies.

Using you GBPJPY example from before, let me explain the mechanics:
  1. With the initial short, strategy A sells 10k GBPJPY at X. You would just need to keep track of the position and can calculate PnL at any time by looking at the market prices.
  2. With system B initiating a long of 10k GBPJPY at Y, you would keep track of the position separately from system A. Even though your portfolio is now flat, you still have a position in each system.
  3. End of the day, system B exits its trade at Z. At this point, you will be short again with your portfolio level short being initiated at Z. However, the total gain / loss in the portfolio will be the same as the total for both systems and system A was "short" for the entire period while system B already realised a gain/loss on its trade.

If you wish to stay with FXCM, this is probably the way to go. Not sure what their coding language looks like, and also not sure how you planned on assigning the open trades to different strategies, so this may be more work. Perhaps this is helpful to you.

Reply With Quote
  #12 (permalink)
New York
Trading Experience: Intermediate
Platform: Strategy Trader
Jason Rogers's Avatar
Posts: 166 since Aug 2010
Thanks: 122 given, 153 received

TangoMykeCharlie View Post
I am familiar with FXCM however they do not offer some functionality that I desire - the capability to hold concurrent Long and Short positions in the same instrument.


This functionality is available with FXCM's Trading Station platform or MT4. Another alternative is to have multiple FXCM accounts for long and short positions if you wish to use the NinjaTrader platform.

If you have questions about our services at FXCM please send me a Private Message.
Reply With Quote
  #13 (permalink)
Elite Member
London England
Trading Experience: Beginner
Platform: NinjaTrader 7+8
Favorite Futures: Forex
Posts: 5 since Dec 2015
Thanks: 3 given, 2 received

Jason Rogers View Post

This functionality is available with FXCM's Trading Station platform or MT4. Another alternative is to have multiple FXCM accounts for long and short positions if you wish to use the NinjaTrader platform.

Thanks Jason, multiple accounts sounds like the best solution for me at the moment. I'll get in touch with the FXCM Admin team.


Reply With Quote
The following user says Thank You to TangoMykeCharlie for this post:
  #14 (permalink)
Market Wizard
Trading Experience: Intermediate
Platform: Investor/RT
Broker/Data: IB / DTN
Favorite Futures: Futures
Posts: 4,585 since Feb 2012
Thanks: 4,546 given, 9,267 received
Forum Reputation: Legendary

TangoMykeCharlie View Post
Thanks Jason, multiple accounts sounds like the best solution for me at the moment. I'll get in touch with the FXCM Admin team.


Just to let you know: IB does not allow several accounts for one person.
Some fx brokers are offering this opportunity already for a long time.
Just profit then.


Reply With Quote


futures io > > > > Interactive Brokers vs FXCM for UK

Thread Tools Search this Thread
Search this Thread:

Advanced Search

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

Journal Challenge $1600 in Prizes & Free Journalytix for all participants!


3 Excellent Entries, and How To Automate Them w/Kevin Davey

Feb 21

The Driving Force Behind the Market w/Earn2Trade

Mar 5

TBA w/Stage5 & iSystems

Mar 12

TBA w/John Grady @ No BS Day Trading

Mar 19

Day Trading Oil Futures: Reducing Risk & Increasing Profits w/DTN IQFeed

Mar 26

Similar Threads
Thread Thread Starter Forum Replies Last Post
Interactive Brokers tradertea IB Trader Workstation 4 January 12th, 2016 12:29 PM
Best UK brokers with minimum spread? Nono Reviews of Brokers and Data Feeds 3 November 7th, 2014 05:18 PM
FXCM UK Reaches Settlement with the FCA for Trade Execution Practices During 2006-201 kbit News and Current Events 2 February 28th, 2014 10:19 PM
Interactive Brokers - am I worrying too much? lazarus Reviews of Brokers and Data Feeds 14 December 31st, 2012 02:35 AM
European/UK Futures brokers keymoo The Elite Circle 4 May 11th, 2012 07:49 AM

average, brokers, buy, cfd, chat, coding, commission, data, dax, forex, futures, fxcm, information, interactive brokers, interactivebrokers, market data, mt4, multiple accounts, ninja, ninjatrader, ninjatrader 8, oanda, orders, portfolio, position sizing, position_sizing, prorealtime, short, sim, sim_trading, slippage, standing, strategies, strategy, support, systems, tick, tick charts, tick data, trading

All times are GMT -4. The time now is 11:34 AM. (this page content is cached, log in for real-time version)

Copyright © 2019 by futures io, s.a., Av Ricardo J. Alfaro, Century Tower, Panama, +507 833-9432 WhatsApp Business,
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 2019-02-20 in 0.16 seconds with 14 queries on phoenix