Trader Workstation TWS , Interactive Brokers' flagship desktop trading platform, is anything but easy to use, but is packed full of features covering all spectrums of trading products, including forex.

Desktop charting: TWS offers available studies within its charts, which is far above the industry average, yet less than, say, thinkorswim by TD Ameritrade , which offers over No question, the charting experience on TWS is powerful. These order types can be great for advanced strategies. Platform complexity: While the number of customizations available in the TWS desktop platform is impressive, the complexity and long lists of possible configurations can be intimidating to unseasoned investors.

For example, the watch list alone can be configured with over different available columns. Client Portal browser trading : Replacing its legacy WebTrader platform, the Interactive Brokers Client Portal comes with forex charts 16 optional indicators , forex news headlines and related economic calendar events, trading, and even syncing watch lists. By stripping out everything built for active traders, Client Portal is far more approachable to casual investors.

In my testing, I found it to be enjoyable to use. Out of all brokers reviewed on ForexBrokers. Research summary: Interactive Brokers will satisfy the vast majority of traders, you just have to know where to look. Lastly, content from in-house and guest authors can be found on the Traders' Insight blog. Forex research: Interactive Brokers has forex research from among its in-house and third-party resources. Given that the majority of research resources available to customers is specific to other global financial markets, I did find it time-consuming to find content related to forex specifically.

Interactive Brokers offers a variety of quality educational content; unfortunately, the primary focus is not forex and CFDs. Created by in-house staff and third-party educators, I found the content plentiful, diverse, and of high quality. For example, the Traders' Academy portal covers broader financial market sectors quite well with lessons and accompanying videos organized by experience level. The downside? There is not a course specific to forex trading. Educational videos: Given how complex TWS is, I was not surprised to find that most videos were platform tutorials.

Outside of its website, Interactive Brokers has a YouTube channel. Platform tutorials aside, I found very few videos about forex and CFDs, despite a larger variety of content related to other asset classes. While customizing IBKR Mobile for forex trading takes a little time, Interactive Brokers offers a robust trading experience that competes among the industry's best multi-asset brokers.

Forex-specific features: I found an extensive list of pre-defined watch lists, including two for forex. Also, the economic calendar can be configured to only show economic events relevant to forex traders.

Technology to improve your trading

When viewing a chart window, related news headlines are shown in an adjacent field. I found this feature helpful for comparing the impact of news on market prices. IBKR Mobile charts: Charting within the mobile app is rich and includes trading directly from charts. I counted 70 optional indicators and was pleased to find that they automatically sync with TWS desktop.

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The one minor drawback is a lack of drawing tools. IBot: The IBot tool also available in TWS lets you chat with an artificially intelligent bot either by typing or using voice , which can recognize commands such as, "show me a chart of the EUR. USD" and then returns a matching chart that can open from the search results.

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It was apparent to me that a lot of thought was put into developing IBot. Overall, Interactive Brokers is an excellent choice for professional traders. The combination of TWS with a diverse, global product offering, alongside competitive commissions, makes IB a great competitor. For institutional clients specifically, IB is No 1 in my books.

How to Convert Currencies in Interactive Brokers

Professionals aside, the minimum monthly activity fees and other miscellaneous fees market data for example should be taken into consideration when deciding whether Interactive Brokers will be a good fit for your trading style. Founded in , Interactive Brokers is one of the oldest online brokerages in the U. It was one of the first brokers to offer a multi-asset solution that now includes equities, options, forex, futures, and bonds across market centers in 31 countries. Read more on Wikipedia. For our Forex Broker Review we assessed, rated, and ranked 27 international forex brokers over a three month time period.

Stocks - Futures - Forex Trading

Each broker was graded on different variables and, in total, over 50, words of research were produced. While encouraged, broker participation was optional. Each broker had the opportunity to complete an in-depth data profile and provide executive time live in person or over the web for an annual update meeting. All data submitted by brokers is hand-checked for accuracy. Ultimately, our rigorous data validation process yields an error rate of less than. Learn more about how we test. With respect to margin-based foreign exchange trading, off-exchange derivatives, and cryptocurrencies, there is considerable exposure to risk, including but not limited to, leverage, creditworthiness, limited regulatory protection and market volatility that may substantially affect the price, or liquidity of a currency or related instrument.

It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable, or that they will not result in losses. Steven previously served as an Editor for Finance Magnates, where he authored over 1, published articles about the online finance industry. Steven is an active fintech and crypto industry researcher and advises blockchain companies at the board level. Over the past 20 years, Steven has held numerous positions within the international forex markets, from writing to consulting to serving as a registered commodity futures representative.

All providers have a percentage of retail investor accounts that lose money when trading CFDs with their company. You should consider whether you can afford to take the high risk of losing your money and whether you understand how CFDs, FX, and cryptocurrencies work. The ForexBrokers. If you believe any data listed above is inaccurate, please contact us using the link at the bottom of this page. These trademark holders are not affiliated with ForexBrokers. Visit Site. Add a comment. Active Oldest Votes. You're confusing open positions and account balance.

Your account balance available funds in GBP is Improve this answer. I guess that's what I don't understand. Why do I have to give "them" GBP "back"? Didn't I buy GBP? Maybe it's just a semantic issue. I just want to be sure I'm not borrowing anything and therefore owing interest. You'll have eventually sell the GBP back after you close your stock position, and it may either add to earnings in CHF or reduce them. So it looks like all the confusion comes from what IB calls "virtual FX positions", which specifically don't reflect the real balances.

I'm not sure yet what they actually are , but at least it looks like I'm not doing anything wrong nor losing my mind. Thanks for your reply : — ggambett Oct 7 '13 at Show 2 more comments. Featured on Meta. Stack Overflow for Teams is now free for up to 50 users, forever. Linked 1. Related Hot Network Questions. Question feed. Accept all cookies Customize settings.