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Date/Time: Fri, 19 Apr 2024 20:16:31 +0000

Post From: New Sierra Chart Futures Order Routing with Data Service (Available)

[2019-04-11 00:02:53] Link To Thread - Link To Post [Go To First Post]
User19165 - Posts: 346
As mentioned by others here, if you are trading products in a non-local currency, IB will save you thousands a year just in the FX. Using my situation as an example: With IB trading HKex products living New Zealand, I will get pnl in HKD and commission in HKD. The IB account is in NZD. I can transfer HKD -> NZD at a very low rate. I also pay no wire fee. Compare that here with using other brokers. One is likely to get pnl in HKD, HKex fees in HKD. Commission in USD, and this order routing again in USD at a different location than ones brokerage. Then they want to charge for a wire to my account and in doing so, they just decimate you on the FX spread. Spreads for HKD -> NZD and also 2 extra spreads to pay your brokerage commissions and again to pay your order routing fees. Don't get me wrong, I'd love to be gone from IB, but it would cost me several thousand a year just in this extra cost to do so.