New, Wondering about Brokers?

[def]

Let's talk FX Profitability. This table should get things started:

 

[def]

Let's talk FX Profitability. This table should get things started:

 

[oldtime]

Quote from def:

Let's talk FX Profitability. This table should get things started:

???

first of all, the link doesn't work

secondly of all, I trade forex with ib and am happier than a pig in shit

thirdly, if you think traders at ib make better decisions than traders at other brokers that is kind of sad

and fourthly, if ib ever stopped offering spot forex, I would just swap markets

and fifthly, I will agree, traders who decide to trade spot forex at ib have at least in the beginning made a better decision than those at other brokers

 

[def]

Quote from oldtime:

???


thirdly, if you think traders at ib make better decisions than traders at other brokers that is kind of sad

s

Try the link again.

IB might attract a more professional/knowledgable type of trader but what you say above is not what I think. Tighter spreads and lower fees along with the ability to work orders does play a large role though.

 

[oldtime]

Quote from def:

Let's talk FX Profitability. This table should get things started:

ok, now it is working

but if I am not mistaken, ib has a minimum starting account balance of 10k

that may account for some of it

if I ever get to where I am moving more than 5m at a time, I may start looking around

but for the kid who opens an account on his credit card

there is probably no hope, no matter what broker he chooses

so the statistics are a little skewed, since you eliminate all of those

 

[siki13]

Quote from def:

Let's talk FX Profitability. This table should get things started:

I see there it reads: IB- "no spread markups" .
Why IB still doesn't have 0.1 pip increment movement?
Shouldn't that be prerequisite for a real market ?

 

[def]

Quote from siki13:

I see there it reads: IB- "no spread markups" .
Why IB still doesn't have 0.1 pip increment movement?
Shouldn't that be prerequisite for a real market ?

IB actually does have the .1 pip prices but doesn't display them as they flash too fast. You'll often get price improvement on fills as a result.

 

[Pippi436]

def: i have always wonderd, who does count as a FX trader in these statistics? If i trade, for example, GBP-denominated stocks from an account with USD as base-ccy, that would automatically involve a fx transaction, would i count as an fx-trader toward your statistics? There must be whole lot of people with IB that dont explicitly trade fx but only implicitly by tradeing foreign securities.

 

[def]

Quote from Pippi436:

def: i have always wonderd, who does count as a FX trader in these statistics? If i trade, for example, GBP-denominated stocks from an account with USD as base-ccy, that would automatically involve a fx transaction, would i count as an fx-trader toward your statistics? There must be whole lot of people with IB that dont explicitly trade fx but only implicitly by tradeing foreign securities.

that is why the number of accounts is relatively low that we report as active traders. They need to be actively trading FX to be reported. The regulators have the requirements which I forget off hand but can dig up if you're interested.

 

[Swan Noir]

I'm impressed that 43% of IB's FOREX traders are profitable. I would not have thought the numbers were that good anywhere. I do think the $10,000 minimum and that sharper guys will look for better counterparties are major contributers to that number.