IB new forex spreads

What is Ideal Pro...is it a quote service compiling many different banks and MM's? Who owns it? Does E-signals 200 plus quotes have Ideal Pro? Sorry for the stupid questions...but everbody needs an ElectricSavant.

Michael B.

Googling comes up with this link and some UK property something or other..

http://www.interactivebrokers.com/en/trading/exchanges/usIB-pro.php?ib_entity=llc

i think one of the mm's had some issues last week. hopefully they'll resolve them and go back to quoting tight next week
 
I noticed something new this am in Asian trading

in USD / EUR on IDEALPRO FX

crossed markets on and off ... not sure for how long ... say for less than 1 minute for sure

then the market took off ( in this case to the downside )

maybe some news hit the tape or some dealers had orderflow to
hit stops and runup the dollar ?
 
hmmm... do not see it over here in Oanda..ideal pro having some interesting quirks the last week and today...What is ideal pro anyways..is it an Interactive Brokers owned company? Is it a compilation of quotes from several large banks? Is it included in the 200 plus quote vendors in E-signals version of the quote market?

Michael B.


Quote from SethArb:

I noticed something new this am in Asian trading

in USD / EUR on IDEALPRO FX

crossed markets on and off ... not sure for how long ... say for less than 1 minute for sure

then the market took off ( in this case to the downside )

maybe some news hit the tape or some dealers had orderflow to
hit stops and runup the dollar ?
More...
 
Quote from def:

i think one of the mm's had some issues last week. hopefully they'll resolve them and go back to quoting tight next week.
More...


Well, this week is "next week" but there is no change
in the spreads. EUR/USD is 2-3pips.

Any chance we see better spreads in the near future in:
GBP/CHF (currently 6pips)
GBP/JPY (currently 9pips!!!)
???
Major currencies with 9pips spread... I rather trade
my money at Thomas C(r)ook...

My feeling is that IDEALPRO is deteriorating fast....
 
Quote from Fox-Mulder:

Since two hours there is someone standing with 1.000.000 in the ASK so yu get one pip spread vey often.

Lets see what happens next week.
More...

The 1 Mln is and has been intermittently in there during morning trade as well all week. It makes the effective 2-3 pip spread look more like a 1-2 pip spread. However as the 1 Mln size backs away on any kind of volatility the effective spread is 2-3 (+ 0.5 pip effective commish) when it is moving. I have a sneaking suspicion (unconfirmed) that TH is trading that one as IdealPro (I think that 1 Mln is IdealPro). Can anyone confirm that the 1 Mln is IdealPro as the exchange?
 
IDEALPRO's
CHF/JPY spread just opened up to 6-9pips today!!!
(used to be 2 pips before)

It just gets worse and worse
and, of course, IB is trying to keep this thread quiet.

Other too wide spreads (right now):

EUR/CHF 3-4pips
EUR/JPY 4-5pips
EUR/USD 3pips
GBP/CHF 10-13pips!!!
GBP/JPY 8-10pips!!!
GBP/USD 5pips
USD/CHF 4-6pips!!!
USD/JPY 3-4pips

(+ commissions)

Nice this ECN model, but if you can't make it competitive
close it down.
 
Great news..It looks that DeutschBank is quoting on IDEALPRO from this day on...they insert 15 Mio at Bid and Ask in EUR/USD (and also all other majors are clearly showing more volume).

This has immediately a narrowing effect on the spread, because I can see 1 pip again (from time to time) in the EUR/USD (see this screenshot, which is taken at 3:30 in the morning EST).

GOOD job IB ! :) :)
 

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