Hi Petko,
Yes Interactive Brokers is really good. I have been with them for many years. Never had any problem with them. They do have MT4 for EA trading as well, however I wanted to keep my manual and EA trading diversified with 2 different brokers.
With regards to Interactive Brokers, recently during the volatile period for OIL, it went to negative prices. However, the Interactive Brokers platform was not designed to manage negative prices. I read that many brokers have this same problem. So I faced a huge loss not because of my fault but because of their system and immediately the next day I was paid back all my losses.
Later I read on Bloomberg that many traders have experienced the same thing with Interactive Brokers during that period and all of them were compensated entirely for their losses. In total, the losses faced by traders in Interactive Brokers on that particular day was $113 Million and Interactive Brokers compensated the entire amount. This just shows how reliable they are. Here’s the news article for that:
I also read in some other forums, where the traders who faced the similar scenario with their brokers were not compensated.
I was thinking of working with IC Markets (ECN Account) for the EA Trading. I read that they do not charge additional margins for hedged trades. So I have a buy and a sell for EURUSD, I will only be charged margin for one of the trades, not both.
Do you have any advice or suggestions regarding IC Markets Petko? Please let me know. Thank you.