NexusFi: Find Your Edge


Home Menu

 





IB killing forex trading?


Discussion in Brokers

Updated
      Top Posters
    1. looks_one Blash with 7 posts (4 thanks)
    2. looks_two mattz with 5 posts (7 thanks)
    3. looks_3 NinjaTrader with 4 posts (5 thanks)
    4. looks_4 Aufidius with 4 posts (10 thanks)
      Best Posters
    1. looks_one Aufidius with 2.5 thanks per post
    2. looks_two Sniff with 2 thanks per post
    3. looks_3 mattz with 1.4 thanks per post
    4. looks_4 NinjaTrader with 1.3 thanks per post
    1. trending_up 12,584 views
    2. thumb_up 38 thanks given
    3. group 11 followers
    1. forum 30 posts
    2. attach_file 0 attachments




 
Search this Thread

IB killing forex trading?

  #21 (permalink)
 
Blash's Avatar
 Blash 
Chicago, IL
Legendary Market Chamois
 
Experience: None
Platform: NT8,NT7,TWS
Broker: InteractiveBrokers, S5T, IQFeed
Trading: The one I'm creating in the present....Index Futures mini/micro, ZF
Posts: 2,311 since Nov 2011
Thanks Given: 7,341
Thanks Received: 4,518


Blash View Post
Ok thank you.

I did not realize you guys had FX thru FXCM. I called them yesterday to find more. They called me this morning. I told them I use Ninja and they did not tell me anything special like you are.

I huge part of the reason I am with IB is because of their acct security with 2 step authentication. FXCM does not have this and I assume you guys don't as well since you use them. Correct?

Ron


Sent from my iPhone using Tapatalk


NinjaTrader View Post
Not sure why that would be the case? See here - NinjaTrader - FXCM


Correct.

I fill it odd that more brokers don't have more secure technology like two step authentication, but just a simple password like a free email account might have.

Where a lot of money is on deposit (>$100k) I think it makes sense to secure it well. Big part of the reason I like IB, they get that.

Ron

...My calamity is My providence, outwardly it is fire and vengeance, but inwardly it is light and mercy...
The steed of this Valley is pain; and if there be no pain this journey will never end.
Buy Low And Sell High (read left to right or right to left....lol)
Follow me on Twitter Visit my NexusFi Trade Journal Reply With Quote
Thanked by:

Can you help answer these questions
from other members on NexusFi?
My NT8 Volume Profile Split by Asian/Euro/Open
NinjaTrader
Deepmoney LLM
Elite Quantitative GenAI/LLM
Exit Strategy
NinjaTrader
Futures True Range Report
The Elite Circle
Better Renko Gaps
The Elite Circle
 
Best Threads (Most Thanked)
in the last 7 days on NexusFi
Get funded firms 2023/2024 - Any recommendations or word …
61 thanks
Funded Trader platforms
39 thanks
NexusFi site changelog and issues/problem reporting
26 thanks
The Program
18 thanks
GFIs1 1 DAX trade per day journal
18 thanks
  #22 (permalink)
 
Sniff's Avatar
 Sniff 
San Francisco Bay Area, CA
 
Experience: Beginner
Platform: NinjaTrader, TWS
Broker: IB
Trading: CL, ES
Posts: 18 since Jun 2012
Thanks Given: 99
Thanks Received: 60


Blash View Post
I fill it odd that more brokers don't have more secure technology like two step authentication, but just a simple password like a free email account might have.

Where a lot of money is on deposit (>$100k) I think it makes sense to secure it well. Big part of the reason I like IB, they get that.

Ron

Hey Ron,

Yeah, I'm in the same boat--originally signed up with IB for their tight spreads and the 2-step authentication but now it looks like the only options are Forex dealers with horrific spreads and potentially less secure accounts....

I'm still searching for something comparable, but right now it looks like the options are limited--here's the list I've compiled so far:

Tallinex
MBtrading
Oanda
FXCM (or NinjaTrader Brokerage)
ATC
CitiFX Pro
FXChoice

If you (or anyone else!) have any other suggestions, I'd love to hear about them.

Thanks!

Reply With Quote
Thanked by:
  #23 (permalink)
 
Blash's Avatar
 Blash 
Chicago, IL
Legendary Market Chamois
 
Experience: None
Platform: NT8,NT7,TWS
Broker: InteractiveBrokers, S5T, IQFeed
Trading: The one I'm creating in the present....Index Futures mini/micro, ZF
Posts: 2,311 since Nov 2011
Thanks Given: 7,341
Thanks Received: 4,518



Sniff View Post
Hey Ron,



Yeah, I'm in the same boat--originally signed up with IB for their tight spreads and the 2-step authentication but now it looks like the only options are Forex dealers with horrific spreads and potentially less secure accounts....



I'm still searching for something comparable, but right now it looks like the options are limited--here's the list I've compiled so far:



Tallinex

MBtrading

Oanda

FXCM (or NinjaTrader Brokerage)

ATC

CitiFX Pro

FXChoice



If you (or anyone else!) have any other suggestions, I'd love to hear about them.



Thanks!




After I spoke to FXCM the other day about opening an account they keep calling me. I inquired about 2 step authentication and they don't have it either. I asked the guy to bring it up in their next meeting....lol.

When I login to TWS I can still get all the FX quotes. I have not tried to place an order only because I have had zero time, but I will soon. Plus, IB's website has not changed even a little bit regarding FX trading so I'm confused. But I'm sure it's just my wishful thinking.....lol.... Once I place a limit I'm sure it will be rejected based on account size.

I have 2 step authentication with Amazon Photos and with their Alexa app yet I can't open a FX trading account with a big chunk of change with 2 step..... This industry is way behind the curve....IMHO.

Ron


Sent from my iPhone using Tapatalk

...My calamity is My providence, outwardly it is fire and vengeance, but inwardly it is light and mercy...
The steed of this Valley is pain; and if there be no pain this journey will never end.
Buy Low And Sell High (read left to right or right to left....lol)
Follow me on Twitter Visit my NexusFi Trade Journal Reply With Quote
  #24 (permalink)
 
Sniff's Avatar
 Sniff 
San Francisco Bay Area, CA
 
Experience: Beginner
Platform: NinjaTrader, TWS
Broker: IB
Trading: CL, ES
Posts: 18 since Jun 2012
Thanks Given: 99
Thanks Received: 60


Blash View Post
After I spoke to FXCM the other day about opening an account they keep calling me. I inquired about 2 step authentication and they don't have it either. I asked the guy to bring it up in their next meeting....lol.

When I login to TWS I can still get all the FX quotes. I have not tried to place an order only because I have had zero time, but I will soon. Plus, IB's website has not changed even a little bit regarding FX trading so I'm confused. But I'm sure it's just my wishful thinking.....lol.... Once I place a limit I'm sure it will be rejected based on account size.

I have 2 step authentication with Amazon Photos and with their Alexa app yet I can't open a FX trading account with a big chunk of change with 2 step..... This industry is way behind the curve....IMHO.

Ron


Sent from my iPhone using Tapatalk


Yeah, they're still giving me the quotes and letting me trade FX, but I suspect they'll be flashing warnings at me soon when I try to place another order.....

Reply With Quote
Thanked by:
  #25 (permalink)
 
mattz's Avatar
 mattz   is a Vendor
 
Posts: 2,493 since Sep 2010
Thanks Given: 2,440
Thanks Received: 3,789


Sniff View Post
Hey Ron,

Yeah, I'm in the same boat--originally signed up with IB for their tight spreads and the 2-step authentication but now it looks like the only options are Forex dealers with horrific spreads and potentially less secure accounts....

I'm still searching for something comparable, but right now it looks like the options are limited--here's the list I've compiled so far:

Tallinex
MBtrading
Oanda
FXCM (or NinjaTrader Brokerage)
ATC
CitiFX Pro
FXChoice

If you (or anyone else!) have any other suggestions, I'd love to hear about them.

Thanks!

CQG FX as a trading platform. This is basically Q Trader for free and works as an ECN model.
As far as I know they are also adding the ability ti open multiple charts. They charge $70 per million.
We offer it via Optimus FX and DirectFX (non usa only)

Thanks,
Matt Z
Optimus FX

Trading futures and options involves substantial risk of loss and is not suitable for all investors. Past performance is not necessarily indicative of future results. You may lose more than your initial investment. All posts are opinions and do not claim to be facts. Please conduct your own due diligence. Use only Risk capital when trading Futures.
1 800 771 6748 local 561 367 8686 email [email protected]
Reply With Quote
Thanked by:
  #26 (permalink)
 
Sniff's Avatar
 Sniff 
San Francisco Bay Area, CA
 
Experience: Beginner
Platform: NinjaTrader, TWS
Broker: IB
Trading: CL, ES
Posts: 18 since Jun 2012
Thanks Given: 99
Thanks Received: 60


mattz View Post
CQG FX as a trading platform. This is basically Q Trader for free and works as an ECN model.
As far as I know they are also adding the ability ti open multiple charts. They charge $70 per million.
We offer it via Optimus FX and DirectFX (non usa only)

Thanks,
Matt Z
Optimus FX

Hey Matt,

I just wanted to make sure I understood correctly--CQG FX is available to US residents but just isn't available via DirectFX--is that right?

Thanks.

Reply With Quote
Thanked by:
  #27 (permalink)
 
mattz's Avatar
 mattz   is a Vendor
 
Posts: 2,493 since Sep 2010
Thanks Given: 2,440
Thanks Received: 3,789


Sniff View Post
Hey Matt,

I just wanted to make sure I understood correctly--CQG FX is available to US residents but just isn't available via DirectFX--is that right?

Thanks.

I am sorry if I was not clear. Optimus FX offer CQG FX via DirectFX which is registered in Australia.
DirectFX does not accept any US residents, but most other countries: Canada, Europe, Asia, Etc.

As far as I know, Oanda offers CQG FX as well, so you may be lucky there.

When I started doing research about FX platforms, I was a bit surprised that most use MT4.
Look at CQG FX, CTrader and others that simply beat MT4 hands down and they are FREE.
The key of course is to find also those who offer true ECN models. In my opinion IB was one.

I hope this helps.

Regards,
Matt Z
Optimus FX
Optimus Futures

There is a substantial risk of loss in futures and forex trading. Past performance is not indicative of future results.

Trading futures and options involves substantial risk of loss and is not suitable for all investors. Past performance is not necessarily indicative of future results. You may lose more than your initial investment. All posts are opinions and do not claim to be facts. Please conduct your own due diligence. Use only Risk capital when trading Futures.
1 800 771 6748 local 561 367 8686 email [email protected]
Reply With Quote
Thanked by:
  #28 (permalink)
thetamax8
Vancouver, BC
 
Posts: 25 since Sep 2014
Thanks Given: 0
Thanks Received: 17

So, to be clear, this change at IB applies to US-based traders.

Does this also mean no Forex Futures contracts either? Or does this apply to just IDEALPRO spot market?

Reply With Quote
Thanked by:
  #29 (permalink)
 
mattz's Avatar
 mattz   is a Vendor
 
Posts: 2,493 since Sep 2010
Thanks Given: 2,440
Thanks Received: 3,789


thetamax8 View Post
So, to be clear, this change at IB applies to US-based traders.

Does this also mean no Forex Futures contracts either? Or does this apply to just IDEALPRO spot market?

As far as i know this affects US based customers only because IB is also a broker-dealer.
This will not affect their futures traders.

Thanks,
Matt Z
Optimus FX
Optimus Futures

There is a substantial risk of loss in Futures and Forex trading. Past performance is not indicative of future results.

Trading futures and options involves substantial risk of loss and is not suitable for all investors. Past performance is not necessarily indicative of future results. You may lose more than your initial investment. All posts are opinions and do not claim to be facts. Please conduct your own due diligence. Use only Risk capital when trading Futures.
1 800 771 6748 local 561 367 8686 email [email protected]
Reply With Quote
Thanked by:
  #30 (permalink)
 Magiklair 
Alexandria, Minnesota
 
Experience: Beginner
Platform: Ninja trader
Broker: IB / IQFeed
Trading: Forex
Posts: 135 since Jun 2014
Thanks Given: 30
Thanks Received: 38


Hello, it looks like my only choice for FX is FXCM and Forex.com. MB trading got acquired, they won't be supporting the platform going forward.

Reply With Quote




Last Updated on September 30, 2016


© 2024 NexusFi™, s.a., All Rights Reserved.
Av Ricardo J. Alfaro, Century Tower, Panama City, Panama, Ph: +507 833-9432 (Panama and Intl), +1 888-312-3001 (USA and Canada)
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.
About Us - Contact Us - Site Rules, Acceptable Use, and Terms and Conditions - Privacy Policy - Downloads - Top
no new posts