MetaTrader to Interactive Brokers

Why should i get it, what are the benefits?

The copier makes MetaTrader available for IBKR at all. There is no such product in the market at this price, as far we know.

When you like MetaTrader but you think commissions are too high or executions prices too far from market, then using a MT demo account or placing low sized orders and scale up for IBKR, using the MTIBOC, can save much money for you, depending on how good executions are with IBKR.

Can the copier feed my MetaTrader charts with IBKR data?

No. This is not possible at all. There is no market data API or broker API in the MetaTrader client. The MetaTrader business concept requires control about market data. They charge you by artificial spread.

Never mind, you can expect very good execution prices on your IBKR account, because there is no artificial spread.

This way, the copier can even save money for you, because IBKR has no dealing desk in between. MetaTrader ECN broker usually charge more than IBKR.

Usually, the market data have the identical sources (the exchange or Interbank FX) and just differ by the artifical spread imposed by MetaTrader broker.

Can i use MetaTrader demo account?

Yes. You can use MetaTrader demo or live accounts. You can also connect to IBKR paper account.

It is also possible to scale orders for your IBKR account, for instance to turn 0.01 lot MetaTrader order into a 10 lot IBKR order.

How to link MetaTrader symbols to IBKR contracts?

You do the symbol mapping. There are default mappings, for the most typical MetaTrader symbols, like EURUSD, etc.

The mapping is done in a table. You can add, delete and change mappings in this table.

It all starts to select the IBKR contract. Then you define which MetaTrader symbols are linked to this contracts.

As you can connect multiple MetaTraders 4/5 to the copier, you can link multiple MetaTrader symbols to an IBKR contract.

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The mapping is free, if it makes sense or not. For instance, you can link the MetaTrader EURUSD to the IBKR XAUUSD. This makes it possible to link

MetaTrader stock CFD to IBKR real stocks.

When link a symbol to an IBKR contract, you can also define how many shares are placed for the IBKR account when you place 1 lot for the MetaTrader symbol.

Can i trade options, stocks, futures?

Options, Futures usually not. Generally it depends on your MetaTrader broker. Remember, this is a copier. All starts with an order for your MetaTrader account, so with a MetaTrader symbol. So you need an existing MetaTrader account, demo or live.

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