Forex
IDEALPRO; Forex exchange which allows a customer to trade Forex. IDEAL; Forex exchange which allows a customer to convert their balances from one currency to another. Whatever currency balances you may hold, we always pay higher interest on credit balances, and charge lower interest rates on debit balances. IDEALPRO provides professional Interbank spreads which are generally 1-3 PIPs (smallest price increment) wide, but the minimum order size is $25,000 or USD equivalent. Multiple large Forex dealers provide direct price feeds with IDEALPRO displaying the composite of the best available price. With our universal account, it is easy to trade IDEALPRO cash along with currency futures from a single screen. To promote price transparency, as is the custom with all our products, we have separated our commissions from the quoted price. Please keep in mind that although many brokers don't explicitly charge Forex commissions, they do build their commissions into the price spread. IDEAL (for currency conversions) provides bid and ask quotes at spreads that are better than what you can obtain at your bank or through a credit card transaction. There is no minimum order size for an IDEAL order. All Forex trades are entered through the Trader Workstation like any other trade. The currency you wish to buy or sell is the transaction currency and is entered like any other securities or futures market data line into the CKL Trader Workstation. You then choose Forex as the assets type and select a settlement or payment currency. Currency exchanges can be entered in one of two ways as buying one currency is the same as selling the other currency. Buying a transaction currency of Euros with a settlement currency of USD is the same as selling a transaction currency of USD with a settlement currency of Euros. Market Details: Click on any Market Centre Details link below to find details on products traded, order types available, and exchange website information.
Market Centre Details Products Hours Forex (25,000 or USD equivalent minimum) 17:15 - 17:00 (ET) Sunday-Friday* Forex (Forex conversions) 19:00 - 17:00 (ET) Sunday-Friday*
Interactive Brokers provides two vehicles for the exchange of currencies: