Interactive Brokers with MetaTrader4
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Hello,
please have a look at this tool:
MTIBBridge: MetaTrader - InteractiveBrokers Interface Application
It allows to use MetaTrader4 with an Interactive Brokers account.
It's purpose is TO SAVE YOUR MONEY and is appropiate for ordersizes
>= 20000 USD.
At this level, IBs commissions, which are fix and not by spread extra
charge, are cheaper than commissions by spread extra charge.
In addition, IB routes to an ECN market, where prices done by
traders.
sample:
an order of 20000 USD equivalent with a 2 pip extra charge,
costs $ 4. At IB $ 2.5.
So with one transaction, you save $ 1.5.
order of 50000 USD equivalent with a 1 pip extra charge,
costs $ 5. At IB still $ 2.5.
So with one transaction, you save $ 2.5.
order of 100000 USD equivalent with a 1 pip extra charge,
costs $ 10. At IB still $ 2.5.
So with one transaction, you save $ 7.5.
The tool is NOT adequate for microlot orders, as spread extra charge
is cheaper in comparison to IBs fixed commissions of $2.5 (per 100000 USD)