Interactive Brokers fx NOT 24/7

K

kitch

Hi ,

I thought I had better let IB users know that not all IB fx pairs trade 24/7

I have been trading NZD.USD and have been amazed it is closed from 15.00-17.15 EST

I have noticed other NZD pairs are closed at this time as well.

which means any stop or limit orders you have pending will not be filled.

pretty poor as other brokers manage to trade 24/7

any comments IB ??

K
 
That tells me they dont have Enough Liquidity on that pairs,.. But i am hearing it first time any broker does not have a pair which is connected with USD isnt 24 hours.. well i wont say 7 days, cause forex is like 5 1/2 days and 24 hours.
Sorry i am not IB client..
 
I have smilar problems trading NZD pairs using Hotspot as well, so I don't think it is solely an IB issue. I've never really had an occasion to hold an NZD trade that late into the US day as most of my trading in those pairs I do overnight, but I'll ask some people and see if I can get a clear explanation.
 
IB doesn't make the market in Fx. They just report the best bid/ask from banks that participate in their Ideal Pro. I guess on some pairs this does leave some time holes. There should be some quotes for the pair on Ideal but these would be from individual traders.
 
Quote from philipatt:

That tells me they dont have Enough Liquidity on that pairs,.. But i am hearing it first time any broker does not have a pair which is connected with USD isnt 24 hours.. well i wont say 7 days, cause forex is like 5 1/2 days and 24 hours.
Sorry i am not IB client..
More...


Thanks for the reply,

I did mean 24/5 I have been trading index futures with IB and have always been happy with their service.

I trade the NZD with a always in the market system and I was pretty mad when I found out I couldnt open a position or close my existing one for 2 hours !!

Ian
 
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