[Havoc]

>They process your orders directly against the forex market

Sorta. Orders below 25k are odd lots

https://ibkb.interactivebrokers.com/node/1459

[saym]

From that page, it looks like odd lots are still transacted damn near the same rate. '1 to 2 basis points' off would be .01-.02% extra

[Havoc]

Only true if there is sufficient liquidity. Outside of main market hours I've seen pretty thin liquidity in odd lots and thus wide spread (GBP/AUD).

I agree IB is still a pretty good way to go overall though