IB IdealPro Commissions
- Thread starter pipscooper
- Start date
By taking positions. Do you really think they are going to square every little position given to them considering the crap amounts retail traders do? If it were me in that seat I wouldn't worry until my position built up to 5 or 10 mio before thinking of trading out of it. Remember their pockets are alot deeper than yours and in the end of the day most retail traders are wrong.
Quote from pipscooper:
Steve,
Thanks for your comments. I agree that the commission rate is competitive. I'm just trying to help IB forex be more competitive.
Something like 50-100 million monthly volume should get you down to .12 or .15 on additional amounts IMO. Thanks for your consideration.
Also, since I have to keep this Universal Account window open while I trade so I can see my position, could you add in either a column or a line on this window that totals up commissions paid so it is easier to see where I am at, particularly with Forex commissions being variable on price?
Thanks,
They are working on some stuff for Idealpro---so that we an see each trade/position. Break the trades and treat them like TWS treats all the other trades. Hopefully kinda like Oanda or something. If you have multiple positions on it is kinda a pain ---not impossible but not as simple as it could be. They are working on something for us. I dont know when it is coming. That is the main complaint everyone has. It is the only compaint I have. The spreads are great IMO. I could care less about a little commission. I like the ECN idea. Very competitive--esp. with the crosses.
What most folks do not realise is that groups like UBS go out a few decimal points more than the average trader when it comes to how tight their desk spreads are. I don't know if that explains it correctly. So let me put it like this. They are still selling retail. There wholesale rate on those spreads is tighter.
Quote from Remiraz:
whats tighter than 1 pip spread?
unless u mean they do market maker style...buy the bid sell the ask.
less than a pip ---a quarter pip or a half pip ---10th of a pip. We need a dealer on here to talk. Citibank goes wholesale. Like I said if you add a decimal place ---you can go even lower. Just depends. They are becoming more competitive all the time. UBS keeps on tight market. They are not doing that for free obviously. For Aud/jpy and Aud/usd----I have seen that spot on. But what we don't see is there market---which is tighter yet or like I said an extra decimal point.