OmniTrader Professional Forum
Integrated Brokerage
Please Nirvana, we need more forex brokers.
35 replies, 8273 viewings
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OmniTrader Professional Forum
Integrated Brokerage
Please Nirvana, we need more forex brokers.
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Last Activity 3/14/2023 7:47 AM 35 replies, 8273 viewings |
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Linda New User Posts: 2 Joined: 6/26/2016 Location: Warrenville  User Profile |
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| Jim Dean Sage     Posts: 3428 Joined: 3/13/2006 Location: L'ville, GA User Profile |
Adding brokers is a very complex process involving behind the scenes negotiations and significant software development and maintenance. Since only a tiny percent of OT users are active forex traders (according to N surveys), there are a lot of other higher priority items that affect larger swaths of customers. Recommendation: for the time being, open an account at IB. | ||
| Linda New User Posts: 2 Joined: 6/26/2016 Location: Warrenville User Profile |
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| Jim Dean Sage Posts: 3428 Joined: 3/13/2006 Location: L'ville, GA User Profile |
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| John W Regular Posts: 95 Joined: 6/18/2011 Location: Sydney, NSW, Australia User Profile |
I've tried different exchange information (Edit/Exchange Information - Globex, CME, NASDAQ), different profiles such as stocks, futures and forex, different symbols and IB translation symbols (6A, Mar15 Futures, AUD.USD cfd), even mini size choices. I can trade CFD's directly in TWS, just can't get an automatic link to work using OT to control the IB CFD. I have no issues trading stocks using IB and TWS linked, although I have not tried to trade another CFD such as a stocks CFD. Can you help me to properly set this up to trade CFD's using OT please, particularly the AUDUSD in the screenshot example. [Edited by John W on 1/7/2021 9:53 PM]  Attached file : AUDUSD.jpg (133KB - 330 downloads) | ||
| Barry Cohen Idol Posts: 2259 Joined: 1/1/1900 User Profile |
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| ap·pren·ticeGuru Veteran Posts: 120 Joined: 10/22/2010 Location: Columbia, MD User Profile |
While on this subject ... is there anyway you can also add the translation to Forex Futures and Futures itself into the Options chain for both EOD and RT ... I do understand Nirvana omnidata does not support futures feed ... but at the least, those who have IQfeed and eSignal can trade Option Futures and Forex if its in the option chain .... a thought... Thanks. | ||
| Barry Cohen Idol Posts: 2259 Joined: 1/1/1900 User Profile |
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| John W Regular Posts: 95 Joined: 6/18/2011 Location: Sydney, NSW, Australia User Profile |
A CFD is a Contract for Difference on the underlying symbol. In the IB screenshot I can choose to trade AUSUSD (just buy and sell the Aussie, no margin), trade the future (usual futures rules though IB, or trade the CFD (margin 100:1, soon to be reduced to 30:1). CFD's for stocks trade at 5:1. CFD's are available in many countries, linking them to OT would open up the ability to trade any stock, future or fx pair anywhere in the world to anyone living in a country that allows brokers to offer CFD's. From your question I assume that CFD's are perhaps not available in the US. This could increase OT's marketing proposition worldwide. IB won't let me trade the future unless I've got $10m in my account, but will let me trade the CFD. I notice that Frank often refers to spread betting in the UK, that's likely through a CFD. The CFD and the AUDUSD trade at exactly the same rate. A CFD is a poor man's future. IB takes the spread as its fee (i.e. a CFD sells at the bid price, and buys at the ask) If you are able to find out the CFD structure from IB perhaps you could consider making that function as an IB alternate symbol set. That would be fantastic, FX and other symbols could be traded in real time! | ||
| John W Regular Posts: 95 Joined: 6/18/2011 Location: Sydney, NSW, Australia User Profile |
I now realize why CFD's are an unknown. According to IB and other broker websites CFD's can be traded by anyone except residents of the USA, Canada, Hong Kong, New Zealand and Israel. That leaves a lot of people! For instance anyone outside those 5 countries can trade multiple markets right across the world using CFD's. The links below gives good info showing the huge depth of worldwide CFD trading related to stocks, indexes, futures and FX, and goes through the pros, cons, costs and benefits. There are over 7000 symbols that can be traded. https://ibkr.info/article/1984 https://ibkr.info/node/1912 With regard to the particular issue to make OT and IB trade CFD's it appears that OT may need an extra "security type" of CFD and an extra "Exchange" called SMART, and IB reference symbols in the futures profile. IB reference symbols already exist in the stocks profile. The link below gives examples to link IB in MT4 format, perhaps this assists? http://www.mt4-tws.com/most-used-interactive-brokersib-symbols.html [Edited by John W on 1/9/2021 6:27 PM] |
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