Interactive Broker commissions - Page 3
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Thread: Interactive Broker commissions

  1. #21
    Quote Originally Posted by ;
    Apart from the banks I haven't seen anything better... enjoy.
    Are you currently trading with Hotspotfx? And what do you mean by besides the banks? Can I able to get better prices going straight to a bank? If so, how can I do that? Do you have to get a volume that is very high to do so?

  2. #22
    Im trading with Hotspot europe. Its rather good, however after depositing in the commissions($30) its roughly exactly like Oanda (some pairs somewhat cheaper on average, a bit more pricey, i.e. Eur/Usd). The only reason I changed is that I had issues that are often disconnections/connectivity at Oanda. Not so with Hotspot, I never had a single disconnect ever with them. Stability and reliability is my principal concern, everybody who ever was in a position during a platform outage can understand. Executions are fast and accurate.

    The only thing I miss are the aggressive rolls and interest in funds at oanda.

    Spreads can be hughe during news releases (even bigger compared to oanda), but settle down within 30 seconds or so.

    Customer support via email is missing, a number of my emails were not even replied, so in the event that you want something quick, its best to use the telephone.

    Im also under the impression, that pairs with a bit bigger spread such as Gbp/Jpy are quoted way tighter on presentation, on live its much more like 3-4 on average.

    I guess overall they're among the better options a retail trader can create.

    What API are you using? The Java api or their new C dll?

  3. #23
    Quote Originally Posted by ;
    Im trading using Hotspot europe. Its quite good, however after factoring in the commissions($30) its about the same as Oanda (some pairs a bit cheaper on average, some a bit more pricey, i.e. Eur/Usd). Is that I had problems that are often disconnections/connectivity at Oanda. Not with Hotspot, I never needed a disconnect with them. Stability everybody who was in a situation in a platform outage probably can understand. Executions are fast and accurate.

    The only thing I miss would be the competitive rolls and attention on funds in oanda.

    Spreads can be hughe during news releases (even bigger than at oanda), but sit within 30 minutes or so.

    Customer support via email is lacking, some of my emails weren't even replied, so in case you need something fast, its better to use the telephone.

    Im also under the impression, that pairs using a bit bigger spread such as Gbp/Jpy are quoted far tighter on demonstration, on live its like 3-4 on average.

    I guess overall they are one of the better options that a retail trader can make.

    What API are you using? The Java api or their new C dll?
    That is only one of the major causes of me not moving back to Oanda with majority of my funds. Their disconnections have become too regular, which was happening outside of major news announcements. What tipped me over the edge was when I needed to ring them when I had a position open and their was a disconnection, the customer representative made it fairly clear that they can not make any trades for me, ie change a sl, close out a position etc that I would need to wait for the platform to re-connect before I could do anything on my place. I pulled all my money out the next day.

    I do miss the daily attention, and the decent swaps, but I would rather pay 1/2 a pip more in distribute and have better stability, and know that I case of an emergency, I can actually ring somebody who can do something about my trade. Their spreads are exceptional, and once you factor in the commissions with most ECNs', Oanda does come out on par if not better than a few.

    In addition, the disconnections have just been an issue over the past 6-8 mths, never needed such probs earlier, in the 2-3 years I had been with them.

    Regards,
    K.

  4. #24
    Quote Originally Posted by ;
    What API are you using? The Java api or their new C dll?
    I am using Java for their US based API. Are you using the API in Europe? I've heard that it is somewhat different there in that you can access data, is that accurate? I would like to gather historical data like that I used to do at Oanda, but it would be simpler for me to do if I could call like the several minutes of data at once. That is precisely what I did at Oanda, however right now I'm attempting to set up things to accumulate each tick that comes in and turn it into 1 second OHLC for both bid and offer prices (kind of a pain).

  5. #25
    Quote Originally Posted by ;
    The minimal is 2.50 $ for every trade.


    To figure out the price of a trade you multiply your lot size by 0.0001. (value of a stage ) You then multiply from the commission multiplier depedning on how much commerce per month.


    For exemple if you trade less than 1 million each month.

    Your commerce will be 100 000

    100 000 x 0.0001= 10

    10 x 0.2 = 2

    The minimal is 2.50 $ so you would pay 2.50 $.

    When I misunderstand their commission system please let me know.
    These fees are done through per trade basis or are they cumulative? As in on monthly basis?

  6. #26
    2,5 $ is charged per a position that was open for closing a position, and 2,5 is charged, so if you open and close a location of 100 000 you pay 2,5*2 disperse. The longer the tarde worth per month the comission. I think one can get this information. Thousands times it is asked here about their comissions and alotof incorrect information is posted. You're able to find all the information on their site, search for fx comissions in the site there is everything explained clerarly.

  7. #27
    With IB I also paid $ 5 a day to get a position....
    Why is this?

  8. #28
    Quote Originally Posted by ;
    with IB I also paid $ 5 a day to get a position....
    Why is this?
    Depending on how big this lot as well as the pair It May be the Rollover (swap) that is paid or charge everyday Based on the rates

    http://individuals.interactivebroker...?ib_entity=llc

    I believe these rates are what is being paid or charge for rankings

  9. #29
    Quote Originally Posted by ;
    ~$40 for 1mio. GBP/USD. $20 a USD $1mio traded.

    The US branch of HotSpotFX is the only ECN broker that I am conscious of the charges the identical amount regardless of base currency ($30 each 1mio. Bcu = ~$15 for 1mio. GBP/USD).
    So trading only GBP/USD, is HotSpot FX the lowest priced ECN at ~$30 a million round trip?

  10. #30
    Quote Originally Posted by ;
    Therefore trading only GBP/USD, is HotSpot FX the lowest priced ECN at ~$30 a million round trip?
    You got it!

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