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Hi All,
I have an IB account and I found an FX strategy that I like. It appears that this can’t be automated. Am I right? Because when I try to subscribe to the strategy, I don’t get my IB account as an option.
Am I doing something wrong? if not, is there an alternative?
Thanks…
To trade Forex at IB (changes implemented in November I believe), you need an account size of $10 Million. The alternative is FXCM, which gives you better fills than IB anyway. I use them and like them a lot.
I’m faced with the same issue. I have an IB account where I plan to start trading Russell Trending. I also want to trade ConservProfit forex signals. I was approved for cash forex at IB, but not leveraged. I assume I need leveraged forex to follow the strategy. If so, I’m looking at FXCM as well. The only downside is that I will be paying two $99 monthly fees to Collective2. Kevin
I have messaged some of the forex system creators. There are futures contracts that are equivalent to forex. such as /6j /6a /6e . I would be nice if someone created a forex system using these futures so IB users can autotrade them.
Great minds think alike! I’m auto-trading Russell Trending in my IB account, and ConservProfit in a leveraged FXCM account. Nice one-two punch with those two systems, and just hoping they will keep up the 90% win rate. Yes, have to pay twice $99, but it’s worth it. Also have a margin account at OptionsHouse where I trade XLN Swingtrading manually, just so I have something to do during the day 
I will be ready to start trading Russell Trending and ConservProfits on
Monday. Melissa at Collective2 support has been great. Really good
experience so far, and the peer feedback is most helpful. Thanks! Kevin
thanks guys… the question is still… why can’t we trade on IB? I hate to be doing manual trading !
For US clients yes …
I am a US client, and I did make 1 trade in FX a couple of days ago, and I promise you I don’t have 10mm
U.S. Clients with IBLLC accounts, and Fully Disclosed Broker Clients from the U.S. generally must be Eligible Contract Participants to be eligible to trade Cash Forex. An Eligible Contract Participant is generally an individual or organization with assets of over $10 MM (or $5 MM if trades are hedging). The complete definition is located in Section 1a(18) of the Commodity Exchange Act. For more information about the Commodity Exchange Act, see the U.S. Commodity Futures Trading Commission website, or read the complete definition here.
Here’s the article: http://news.forexlive.com/!/interactive-brokers-to-cut-off-us-forex-clients-sept-1-20160812
Some backstory - U.S. regulators decided that brokers that trade stocks and options cannot also provide leveraged forex trading. So multi-asset brokers like IB had to leave the retail forex business. Brokers like FXCM and Gain Capital, who do not offer stock trading, can continue to offer leveraged forex trading to retail accounts.
In other words, this was not IB’s choice. It was due to our government telling companies what they are allowed to do.
Does that rule applies to non-Us retail clients?
If any US customers need help getting an account to trade FOREX then please feel free to contact me. We will send you the C2 specific new account link and the form necessary to link your account. Your account will be held at Gain Capital or FXCM with no spread mark up. If you choose Gain then you will be able to pay C2 a flat fee for unlimited futures and FOREX trading. We can be reached at info@tradeprofutures.com
As mentioned in their recent quarterly report, IB stopped offering leveraged Forex trading for US clients with accounts smaller than 10 million dollars, since September last year.
Non-US clients (retail and others) still trade on IB with the normal leverage (around 1:30, depends on the specific forex pair).
US clients can still trade Forex there but without leverage.
Reason stated is lack of clarity of current regulatory conditions regarding Forex. I guess they expect regulations to become stricter and want to be on the safe side.
By the way, IB (as well as other brokers) suffered large losses during the Swiss Franc sharp move in 2015 (when the SNB removed the peg to the Euro) in which clients lost more then their account size.
Can we still use C2 + IB and trade Forex without leverage?
Was on the phone with IB two days ago and they said “no”: no Forex without leverage anymore. We only have Gain Capital now.
Well, I just bought EUR/USD (small)… so either he’s wrong, or there’s a bug in their system…
