What is the FXTrader?

With BookTrader you can create an order at any price, including the best bid and ask, with a single click in the BookTrader price ladder. BookTrader displays as a separate window for whichever contract you select. It shows a series of prices above and below the best bid and ask in the price ladder…

TWS and other trading screens will display an Average Price for your executions using FIFO. As there is no Cost Basis reporting for Forex like there is when trading securities, there is no way to change a "Cost Basis method" for your Forex trades…

By default, Forex order quantity is defined in terms of units of the first currency of the pair. The concept of Forex lots does not apply at IBKR.

The pip (the equivalent of a tick in most other asset classes) value varies depending on the particular currency pair and the amount of cash being traded. The definition of a pip is; the smallest price change that a given exchange rate can make. Since most major currency pairs are priced to four decimal places, the smallest change is that of the last decimal point (for most pairs this is the equivalent of 1/100th of one percent, or one basis point). As a result of this, the value of a pip is going to be dependent on the quantity that is being traded. In order to determine the pip value a trader needs to know the following information:…

Currently, the Interactive Brokers platform does not offer a specific feature to display only the end-of-day price change, excluding after-hours movements. However, you can customize your view to include after-hours price change information separately, which may help you distinguish between regular trading hours and after-hours price movements…