Interactive Brokers Review - Forex trading experience and ...

Any brokers other than IB offer the interbank rate (i.e. close to vig-free) CAD / USD swapping?

I swap cash between CAD and USD fairly often so have used Interactive Brokers because they offer the interbank rate (or something very close to it)...having to pay 1-2% vig on every swap would be a non-starter for my strategy.
Anyone know another brokerage that offers the same or something close to it? (I know about Norbert's Gambit, but want to do these swaps more or less instantaneously, which IB allows)
Edit: I should also have included that it would be OK for me if a brokerage simply waived (or reimbursed) any Forex fee/spread if account commissions exceeded a monthly threshold or something, since I usually generate modest monthly fees
submitted by blue_dodo to CanadianInvestor [link] [comments]

How to avoid Questrades hidden forex fees.

So I just found out recently that when I purchased US stocks with CAD on Questrade. They hid the forex fee through the conversion rate. This whole time when I was reviewing my trades I thought the exchange between CAD / USD was pretty much on par since it mentioned $0.00 commission. So after buying about $17k of stocks, it seems that I lost about $450 USD from conversion :( which is a lot for a 22 year old student who doesn't earn much.
Is there a way I can avoid the extra conversion costs? I don't have a US chequing account so could I bring USD to a bank and then send the money to questrade with US cash that I exchanged somewhere else at a lower cost.
Another option is swap my portfolio to Interactive Broker now that my portfolio is >$10k? But I'd need to wire the money over to then.
submitted by Musclechu to PersonalFinanceCanada [link] [comments]

Question - Interactive Brokers Swap Rate

I have been weighing options for opening a new broker and Interactive Brokers is the one I have most heavily considered. However, it appears that their forex swaps are extremely high.
IB Rates
If i am calculating this correctly that would mean that just for holding a 100,000 GBP/USD Buy trade that I would be charged $30ish dollars a day.
I hate to be misinformed as I'm sure I am, I just can't be sure if i am making a mistake or if these are the actual rates.
Thank you for any and all help!
submitted by SithxJawa to Forex [link] [comments]

Using Forex SWAP Charges to My Advantage Interactive Brokers - YouTube Swap Free brokers, 2 different rules  Tani Forex No swap Islamic account tutorial in Hindi & Urdu Forex SWAP - What is Swap Rate in Forex Trading? - YouTube Forex Rollover and Swap Lesson 6.1: What is swap in forex trading? - YouTube

As an alternative to our standard charges and payments for multiple large forex balances, we offer an Auto Swap program which allows you to take advantage of efficient interest rates paid in the Tom/Next market. Our Auto Swap program continually defers settlement of a spot forex position by entering offsetting forward positions on each day that the underlying spot position remains open. A long ... Forex Signals: Interactive brokers partners with Zulutrade to provide traders with access to the best forex signal providers in the world. What we think about Interactive Brokers . Interactive Brokers with 36 years of experience in financial markets. It offers a state-of-art trading platform – Trader Workstation (TWS) that is equipped with everything and anything you may need for your ... Interactive Brokers Canada Inc. is an execution-only dealer and does not provide investment advice or recommendations regarding the purchase or sale of any securities or derivatives. Registered Office: 1800 McGill College Avenue, Suite 2106, Montreal, Quebec, H3A 3J6, Canada. Website: www.interactivebrokers.ca. Interactive Brokers U.K. Limited When calculating rates, keep in mind that IBKR uses a blended rate based on the tiers below. For example, for a balance over USD 1,000,000, the first 100,000 is charged at the Tier I rate, the next 900,000 at the Tier II rate, etc. When determining the quoted spread, IBKR will use the set benchmark rate or a benchmark rate of 0 for all benchmark rates less than 0. IBKR accrues interest on a ... Compare Swap Rates of Forex Brokers in the Comparison Table and find the best Rollover on Currency Market. Trade online with Forex Pairs and earn on positive swaps at the same time. Forex trading involves significant risk of loss and is not suitable for all investors. Full Disclosure. Spot Gold and Silver contracts are not subject to regulation under the U.S. Commodity Exchange Act. *Increasing leverage increases risk. GAIN Capital Group LLC (dba FOREX.com) 135 US Hwy 202/206 Bedminster NJ 07921, USA. GAIN Capital Group ... Question - Interactive Brokers Swap Rate. I have been weighing options for opening a new broker and Interactive Brokers is the one I have most heavily considered. However, it appears that their forex swaps are extremely high. IB Rates. If i am calculating this correctly that would mean that just for holding a 100,000 GBP/USD Buy trade that I would be charged $30ish dollars a day. I hate to be ... Interactive Brokers Canada Inc. is an execution-only dealer and does not provide investment advice or recommendations regarding the purchase or sale of any securities or derivatives. Registered Office: 1800 McGill College Avenue, Suite 2106, Montreal, Quebec, H3A 3J6, Canada. Website: www.interactivebrokers.ca. Interactive Brokers U.K. Limited The interbank market bid/ask spread inherent in the swap prices may be regarded as a cost but is not determined by Interactive Brokers. Interactive Brokers provides the service on a best efforts basis to our large Forex clients. c. Position Criteria. Swap activity is only applied to accounts with gross FX positions larger than 10 mio. USD or ... Interactive Brokers Licenses. Interactive Brokers LLC - authorized by US Securities and Exchange Commission and Commodity Futures Trading Commission.; Interactive Brokers Canada INC - authorized by IIROC (Canada) ; Interactive Brokers Australia PTY LTD - authorized by ASIC (Australia) registration no. ABN 98 166 929 568; Interactive Brokers (U.K.) LIMITED- authorized by FCA (UK) registration ...

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Using Forex SWAP Charges to My Advantage

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