Broker with an OCO orders and low spread.

Quote from igor123:

Hi everyone,

I am looking for a broker with an OCO orders and a very low spread on EUR/USD.

Thanks in advance.
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Interactive brokers.----> www.interactivebrokers.com.

They have bracket orders which are really simple to create and modify.

Ex.

(Entry); Buy 100,000 EUR/USD 1.2650 limit 1.2648 Stop
(Exit Profit); Sell 100,000 EUR/USD 1.2675 Limit
(Exit Loss); Sell 100,000 EUR/USD 1.2640 Stop

Once Entry order executes, the Exit Profit and Loss orders become activated on an OCO basis. You can do a lot more than this simple example with bracket orders. There's also conditional orders.

See order types: http://www.interactivebrokers.com/en/trading/orderTypesMatrix.php?ib_entity=llc

Spread on Eur/USD is .5 to 1.5 pips. Avg is 1 pip during US session. But IB doesn't fix or force you to pay a spread. Instead they charge a commission because instead of being a maker maker, they're like an ECN broker. The commission is $2.50 min/ side. After $2.50 it's .00002 (2/10th of a pip).

So if you were to trade 500,000 Eur/USD, commision would be: 500,000 * (exch rate) * .00002 = approx $10 per side or per order.

Any order under 125,000 EUR/USD would fall under the min $2.50/side rule.
 
Quote from ddunbar:

Interactive brokers.----> www.interactivebrokers.com.

They have bracket orders which are really simple to create and modify.

Ex.

(Entry); Buy 100,000 EUR/USD 1.2650 limit 1.2648 Stop
(Exit Profit); Sell 100,000 EUR/USD 1.2675 Limit
(Exit Loss); Sell 100,000 EUR/USD 1.2640 Stop

Once Entry order executes, the Exit Profit and Loss orders become activated on an OCO basis. You can do a lot more than this simple example with bracket orders. There's also conditional orders.

See order types: http://www.interactivebrokers.com/en/trading/orderTypesMatrix.php?ib_entity=llc

Spread on Eur/USD is .5 to 1.5 pips. Avg is 1 pip during US session. But IB doesn't fix or force you to pay a spread. Instead they charge a commission because instead of being a maker maker, they're like an ECN broker. The commission is $2.50 min/ side. After $2.50 it's .00002 (2/10th of a pip).

So if you were to trade 500,000 Eur/USD, commision would be: 500,000 * (exch rate) * .00002 = approx $10 per side or per order.

Any order under 125,000 EUR/USD would fall under the min $2.50/side rule.
More...

Thanks,

I have checked the link that you have posted, and have not found the type of order that i am looking for. I'd like to place two entry orders above and below the market and when one of them gets filled the other is cancelled.
 
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