Yes the same is true if your account's main currency is HKD. At the moment the interest rate for borrowing USD at IB is 1.56%
http://www.interactivebrokers.com/en/p.php?f=interest
One could argue it's best to buy USD so one doesn't have to pay this interest. But when the dollar crashes relative to HKD or EUR we will lose a lot more than 1.56%. That's why I'm keeping the account in EUR for now.
I'm no Forex trader. But if there was a reliable robot that could switch between EUR/USD I'd make use of it. Maybe there is such a robot out there, I don't know ... google shows a lot of results for forex robots, but I'm willing to bet 95% of them are scams.
Hi all,
I have been following GDX robots for half year and using IB MKT order to enter at open.
Most of the time, I can't get a open price. For example, yesterday, I opened a short @54.31 while the open price is 54.34. What is your experience with IB or other brokers? Are you using MKT order?
Cheers,
Ellis
Ellis,
We use the official Yahoo Finance opening price as a reference for the robot’s track record.
Orders should be entered at market. But it is true that actual execution may vary by a few cents in real life. For opening market prices, it is first come first served. The earliest you enter your market order, the more chances to have execution exactly at the official open price.
Billy
Ellis,
With IB, select OPG as Time in Force, you will get the Open price. http://www.interactivebrokers.com/do...rNotes2006.pdf
Adriano