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2011/12 Interbank FX Reviews
May 1, 2011 - Apr 30, 2012
|I have traded with FXCM, FXOpen, FinFX, and IBFX. So far, IBFX is my favorite broker. They don't have a competitive spread is my only "complaint" if I had to have one. That said....when you factor in the amount of slippage you get with IBFX vs any of the others....it ends up that IBFX is better in the long run. Why? I get nearly zero slippage even during time of high market volatility. Of course...trading during new releases is not factored in due to the nature of price during news releases. ALL brokers have wide spreads and bad slippage during news releases. I have consistently received the best fills on all positions with them. They have also proven to be faster than any other broker I have traded with.|
I have done manual and automated trading on their platform and have been very pleased with both. As long as they maintain the trading environment I have experienced so far to date, I will most likely always remain with IBFX. I don't expect to be able to find a better broker.
My only real complaint would be not to IBFX, but to NFA/CTFC restrictions. Visit their site.
|- Reviewed by Antny, February 27, 2012. Rating = 10/10|
|It's simple: I click buy or sell, and they execute my trade; when I wanted, at the price I wanted.|
As easy as it sounds, until IBFX I have yet to find another broker who can accomplish this simple task. View their site here.
|- Reviewed by FaithPalace, January 28, 2012. Rating = 10/10|
|I have been with IBFX since 2008, and can say that they do not do anything to deplete my account. Early on I had my account pretty much gone several times, but this was due to my own mistakes and inexperience in trading. For the last year now I have achieved consistent profit months after month, without IBFX trying to harm any of my trades whatsoever. So, the point is, study the art and techniques of trading and especially control of emotion is the secret of success. The server robot will for sure eat out your stops if you let it.|
|- Reviewed by abe, October 15, 2011. Rating = 8/10|
| I've been with them since 2009. The I've moved my account with IBFX Australia. So far they have a very good execution. I'm trading live since 2009 and having used other brokers in the past and the most recent one being PFGFX.|
|- Reviewed by Milotov, August 10, 2011. Rating = 8/10|
|I do not know what had happened the previous person, but it is very obvious to me that it is not a "market maker" and not a scam. One of the best broker too.|
|- Reviewed by AleitKursell, August 4, 2011. Rating = 9/10|
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2011/12 IBFX Ratings
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2010/11 Interbank FX Reviews
May 1, 2010 - Apr 30, 2011
|Very wide spreads. It's Market maker and that is very noticeable.|
|- Reviewed by workers, January 21, 2011. Rating = 3/10
|Unbelievable how so many people fail in life and blame others for it. Many of you are so wrong I neither have the time nor the patience to change the way you think. I have been with Interbank FX since March 2007 and went through the same frustrations as you did. I suffered these frustrations with IBFX and three other brokers with live accounts. Over three years later I am now trading peacefully and comfortably with only IBFX. If IBFX disappoints me in the future with new US regulation, I will go back to trading with MIG. Do yourself a big favor, Learn the Disciplines of Trading.
|- Reviewed by Gmaster454, August 22, 2010. Rating = 9/10
I have never had a problem with Interbank Support, it is industry best and they are industry best for penny trades 5 digit precision, they prohibit hedging and that can be extremely risky, watch the youtube videos: stop hunting 1&2, although selling something, it shows Interbank and ALL the brokers share a robot that I think is programmed to move sideways or reverse on integrated info, such a punkass.
|- Reviewed by JJ, August 5, 2010. Rating = 7/10
|IBFX has a bad habit of closing winning trades on me and keeping the losing trades open so I will lose more. This has happened a number of time to me and I don't like them.|
|- Reviewed by RD, July 11, 2010. Rating = 2/10|
|Typical disgusting Metatrader broker. As soon as you start making money you get "Requote, Trading is Disabled etc etc." I'm going elsewhere.|
|- Reviewed by RYFBUser, May 22, 2010. Rating = 1/10|
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2010/11 Interbank FX Ratings
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2009/10 Interbank FX Reviews
May 1, 2009 - Apr 30, 2010
|Wild spreads, Stop hunting pretty much same as other retail brokers. Don't be fooled. 48 pip spread wiped out my trading account when I was hedged.|
|- Reviewed by Samurai Jack, March 10, 2010. Rating = 2/10|
|Great pricing. Never had any issues. No add-on services worth moving to IBFX to, though.|
|- Reviewed by forex4lifer, February 18, 2010. Rating = 8/10|
|I've been with IBFX for about 5 years. Every broker gets bad reviews, but newbies don't have enough experience to know when a broker is hunting stops or creating slippage. And those who compare live trading to demo are *really* wet behind the ears. I've tried a couple of other brokers and found that IBFX is about as good as it gets for retail traders. Their customer service is quite good. Their compliance dept is insane, but that could be due to government requirements having driven them insane. I'll be staying with them until I'm ready to move to an ECN.|
|- Reviewed by Jess, February 3, 2010. Rating = 8/10|
|Wide spreads during news and volitile times.|
|- Reviewed by bc4x, November 10, 2009. Rating = 4/10|
|Bad, If you give them your Money you will never see it again!|
|- Reviewed by Dino, October 29, 2009. Rating = 1/10|
|Overall I have had a positive experience with this broker. They have had some server problems in the past but that seems to be fixed. Spreads are very competetive on most pairs. The only reason I'm writing this review is to let the newbees know that pretty much every complaint I've read about this broker (or any other) is a bunch of BS from idiots who thought that trading with real money was going to be just like demo trading. In real life trading an actual transaction takes place, therefore re-quotes happen all the time for market orders when prices are changing quickly (DUH!!!) As far as stop hunting goes I've spent countless hours with both Alpari and MB trading feeds up on another computer and have never noticed a difference between them and IBFX. The FX market is not for the squeemish. Price spikes going against a trend happen ALL THE TIME! If it were easy it wouldn't be so potentially profitable. Sounds like most of the complaints on here are from people who either didn't do enough research to realize that a major news release was looming and it killed their trade or expected to be able to place a market order without getting requoted to death during one of those news releases. (US Non-Farm Payroll anyone? Been there, done that) And, any variable spread broker that DOESN'T increase sperads during times of extreemly low liquidity is the one you should be wary of. My point is not to defend IBFX but to counter-act most of the crap I've been reading.|
|- Reviewed by megrover, September 23, 2009. Rating = 8/10|
|Great charts and nice leveage (standard to nano accounts). Lose money for most trades due to revesals after entry because no more hedging. After open account last year during 2008 trading with hedging and making profits. Now, mostly loss trades.|
|- Reviewed by FXQuest, September 6, 2009. Rating = 5/10|
|Their trading desk grabbed a $1600 profit from me at market open on one Sunday back in April 2009. I had a buy to cover a short order. They closed out my order exactly 1 hour before the market opened. They pocketed the 1600. They said that was policy. I took my trading elsewhere after that fiasco.|
|- Reviewed by mm777, August 8, 2009. Rating = 2/10|
|Claim to have best uptime and conformance to US Authorities but I've heard more Bell and Dings from their site than any other - their server gets lost when the market moves and you should be making money!|
|- Reviewed by MickyD, August 4, 2009. Rating = 4/10|
|This broker have a great nano lot size.|
|- Reviewed by htfx, July 23, 2009. Rating = 10/10|
|I been using IBFX live since 07. And for now, my comment is, A scare of lose's bucket shop. No hedging, requotes, and worst is = raising spread in asian session, to avoid cust using profitable EA. They raise EG EC GC to 10+pips, scare of Fapt EA, raising EU due to Megadroid EA making profit. Just a "regulated but unethic" bucket shop. Don't trust me, Try ur own. And feel the regret.|
|- Reviewed by FXGhosthand, July 7, 2009. Rating = 1/10|
|I am sorry to say that all the things I have read about this broker being a cheat are real in my opinion. I signed up with demo account successfully proved i could make money and then went live. I succesfully started knocking down 500-850 day in profits using a variety of robot and manual techniques. BaM! the crap starting coming from nowhere every time I submitted an order more than one or two lots the system miraculously started seeking out my stops. I saw over and over again, no matter how far I moved my stop the system sought out my stops within a few minutes, i would move it up again and immediately within 30 seconds the system was like a heat seeking missile. They got me for a big lot unexplicably on my one of my robots MegaDroid, the reason I know they cheated me is because I also was running the robot on another brokerage. IntebankFX burned me for $2500 on a hung turn whereas the robot on the other brokerage did not have the same result it actually made a small profit. These peeps are cheats simple as that.|
|- Reviewed by paladino444, June 20, 2009. Rating = 1/10|
|As a former employee of Interbank FX, I can tell you that much of what you read on this thread has merit. The Customer Service Department manually manipulated the spreads during volatile market conditions. And I know of a couple of instances when they "forgot" to turn it back, leaving a huge spread in a non-volatile market.|
IBFX brought in 2 people from the NFA, in March of 2008, to "clean up" the company. And while it appeared that things were going to improve, unfortunatley, it became all too clear that the change was implemented to put a sheen on operations. No clean up actually took place. All of the old policies, procedures and management staff stayed in place. It was very discouraging.
For much of the life of the company, the New Accounts Department and the Compliance Department was run by a 23 year old with no experience. Record Keeping was a joke, and the staff was very poorly trained.
For my year and a half with IBFX, policies changed daily, sometimes hourly, making continuity of operations impossible. The CEO changed his mind continually, and everytime, we, in compliance tried to put some order on things we were told "it's Todd's Company, he can do what he wants." Unfortunately, often that meant caprecious and random policy changes, each department moving in a different direction, leading to a chaotic business.
IBFX has an incredible marketing department. But when it comes right down to it, there is more style than substance in IBFX.
I would be very wary of using them as a broker.
|- Reviewed by dvora, June 17, 2009. Rating = 2/10|
|This company is one of the worst Forex brokers I've traded with and in my opinion run by thieves. The requotes are the best of the worst I've experienced here. Once they know a trader is net profitable they will do everything in their power to reverse it including stop hunting (I compared prices with esignal and other forex feeds and they went over the market by over 20 pips on one instance to stop me out and blamed it on a software glitch, bs). They also requote even during dead times to try to steal an extra pip or two from you if you're making money. If you're looking for a fair broker this is not the place.|
|- Reviewed by Andrew, June 2, 2009. Rating = 1/10|
|Damn it!! I loose 300$!!! for the first few order, i make profit from it, but then it start against me...every single order!!.....when i buy it sell, when i sell it buy(already refer to stochastic, MACD, the cross of the MA and RSI) ...when i think of sell but i order buy...it sell!! dammmmmnn...when i make profit and try to closed ..it re quoted.Whenever I set stop lost it always eat them... I learning forex almost 1 year..practice my demo account ...now only i start to open the live account...very very sad..worst...broker!! Quiting!!Nonsense!!For rich people, big company, or bank....maybe it profitable...for us that only start a little...frankly say it damn hard!! the worst to work with scammer that always take your money away..trust me..|
|- Reviewed by Das, May 14, 2009. Rating = 1/10|
|I used IBFX for over a year and have had good results overall with them. Forget news trading. Requotes and spreads keep that unworkable. I am leaving them now because of the new "hedging" rule. I use a system where I don't hedge but I cannot even have a pending order in each direction at the same time which is part of my system. They admit its not hedging but say they cannot do anything about it now. Therefore I have moved my account. If your not disturbed by this new ruling then IBFX can do a very good job for you. Customer service is good. Trade executions are fair to good. You could do a lot worse with other brokers.|
|- Reviewed by airbeat, May 14, 2009. Rating = 7/10|
|I will be honest. I enjoyed trading with ibfx. Occasional requote etc during heavily volatile period but is of no fault of ibfx as the prices flactuate a lot at volatile times. I have yet to see any dirty tricks. I think you need to see stop losses where you put them, as I experienced it once where I thought price didnt visit that level. In that case, best is to hedge. As NFA has now come up with no hedging policies, I will be taking my business in europe where anti hedging policies are not being implemented.|
Best of luck in your trading.
|- Reviewed by mohi, May 10, 2009. Rating = 9/10|
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2009/10 Interbank FX Ratings
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2008/09 Interbank FX Reviews
May 1, 2008 - Apr 30, 2009
|The worst broker I ever came across, closed my trades even though enough margin was available, I'm going to sue them and will tell my CC company that it is an unauthorized charge. They r simply a**h***s sitting there to rob people.|
|- Reviewed by bondwiththebest007, February 21, 2009. Rating = 1/10|
|THEY ARE THE WORST! Scammer. Like many other here said, as soon as you are making money. They start do funny things. Widen spread. hold out the move until the very end before close then they make a fast touch on price with the add on reqoute so that you can not exit WITH or without profit. SCAMMER!!! BEWARE. Do not be one of their victim. Stay away, if there are many people said the same thing, then there are some truth into it.|
|- Reviewed by Joan of Pip, February 20, 2009. Rating = 1/10|
|Lost a lot of money due to disgustingly poor execution...the worst I've ever encountered. They will not execute trades to exit when your trade is profitable. They wait to execute when price starts going against you. At pivot points in the market, they will not fill your trade request. Error messages of "Off Quotes" and other BS error messages come on so your order does not execute. When I called my order in, they acted puzzled as to why that was happening to my trades. And this only happened whenever my trade was profitable or I was getting in at a pivot low or pivot high. This broker will make you lose your money. BEWARE!!!|
|- Reviewed by Dr. G, February 13, 2009. Rating = 1/10|
|It can all be described in 2 sentences "REQUOTE", "INVALID PRICES". I'm tired of them. I'm taking my real $$ elsewere. I have to try 3-4 times to close a real trade.|
|- Reviewed by onouf, February 5, 2009. Rating = 1/10|
|I live traded with IBFX for several months. This is a word of caution to anyone in the world not to trade with IBFX. As soon as you are making a profit, IBFX will take action to disconnect you, and make you loose. Their Live accounts platform is different from the demo accounts platform. On the demo account, they will give you the possibility to make trades at all times , even if you delay your order for few seconds. On a live account, many orders will get re-quote errors, till the trade slips to a point that makes you lose. The system disconnections for those who use EAs is very common, then they blame your ISP, and your internet connection, despite the connection is working on many other things including their demo platform.|
Crooks, that are out there to rob your money in what seems to be "legal way".
Do NOT give them the chance to rob you your money!!!
|- Reviewed by restless1, January 23, 2009. Rating = 1/10|
|I'm a Forex professional working in the business. These people cheat. They say they have a no dealing desk set-up yet they can offer better rates for corporate customers. Hello !!?? Requotes are the worst in the business and their spreads are the worst in the online world. Trust me, stay away. Scam.|
|- Reviewed by Dean, January 21, 2009. Rating = 1/10|
|I'm a US solder currently stationed in Korea for a about 6 more months. I never
changed my mailing address because all my
mail gets forwarded to me. I have my US
address as my physical on for the bank and
Korea as my mailing incase I lose my debit
All the information that was submitted
to IBFX is from the US. When I submitted my
information it was from the office on base.
So I know the IP in our offices are from
the US. I wanted to check on the status of
my account and I guess I made the mistake
of saying i'm in Korea currently.
I was told to sign on with a Korean
broker and the chat was ended be the
operator. Then I came back to talk to the
manager. I got the same operator again....
I was told I can submit for an account
again in 6 months when I come back to the
Glad I didn't try to submit for an
account last year while I was in Iraq! It's
nice to know that a potential customer can't
speak to a manager when the request to
speak to one. IBFX is the first compnay I
have ever had a problem with opening an
Paypal, Td Ameritrade, Orders from
Amazon with shipping address problem had
all been resolved for me while I was in
Iraq. As long as I sent in my info and
proof of who I was. Everything turned out
fine. I wanted to join IBFX over other
brokers because it's in the US and I was
given a good impression from reviews on
They wouldn't know I live in Korea
right now if I hadn't said it! Which I
don't even see the problem with that. Why
don't they bloack Koreans or all non US Ip's
from seeing there website then? Even though
I still have a US IP when I step in my
I'm just really annoyed right now. I
would think you get some kind of assistance
being a twice deployed war veteran. Not
come back in 6 months when you come to the
US! What if I don't get orders the US! What
if they send me to Japan! Where I kinda want
to go. Are they going to tell me I need a
Japanese broker then. I don't even know much
Korean. Especially not enough to open a
Forex account! Thanks alot IBFX!
|- Reviewed by Midion, January 15, 2009. Rating = 1/10|
|I've only been trading live with IBFX for 2 months. So, I can't compare to other brokers live. I've only demoed the others.|
I have to make a comment on requotes/offquotes and those complaining about them.
You are moron if you think it's the company trying to screw your trade.
Let me explain something to you. Very simply put price moves. When it moves quick, if you are in a trade and try to close, the price can move away from that price point in the time it take your order to reach the server.
Quite simply if the price isn't there you aren't going to get it. When closes manually a trade turns into a market order. A market order says close at this price AND THIS PRICE ONLY.
What do you need to do to remedy this? Here is a list for you.
1. Set a take profit when you enter the trade.
2. Set a trailing stop.
(I've had reqoutes on manual close but have never had either one of those two not close in my favor)
3. Enable maximum deviation and set it to x amount of pips you are comfortable with. (Though I've heard from other IBFX users that if you enable maximum deviation it will get hit.)
You can set all of these after a trade has been entered and modify the trade. So, there is no one to blame but yourself. Quite simply it's your lack of understanding of the nature of the market and how your platform works that caused the problem.
|- Reviewed by Ric, January 11, 2009. Rating = 10/10|
|My brother and I both had demo accounts. We both made profit so we opened up live acc. About 3k each.. And, the problems started. If you read the all the 1/10 comments, well its the truth. IBFX is a scam. only corporate sponsors or demo players give this broker a better rating than "0".|
It is true about the requotes. Very frustrating.
And if you use stops you're going to get stopped all the time. No dealing desk is untruthful. FXCM and IBFX say no dealing desk but it is a scam and they prey on newbies and suckers. Go somewhere else. AND PLEASE, don't believe the 10/10 rating.
Read the comments and know the truth.
I havent ran an Expert advisor with IBFX, but I have read forums that results vary from brokers. (which i mean that an EA will work with another broker and NOT IBFX. ) I wonder why?
|- Reviewed by fxsucker, January 10, 2009. Rating = 1/10|
|IBFX is a great marketer but a very poor broker. They advertise tight spreads, competitiveness but they bounce the spread when no other broker has any widening. A scam operation to say the least. They market no dealing desk but all their liquidity providers have dealing desks so how is that they can advertise that they don't?|
|- Reviewed by Jack, January 10, 2009. Rating = 1/10|
|Unless you have loads of money to burn; STAY AWAY!!!!!!!! I have traded with them since April and was impressed because they advertised,"no dealing desk" and they are suppose to be so honest. Well if you find yourself on the right side of a trade, they no only frequently re-quote you to keep you from closing out. They now have a new way to cheat you and it is off-quote. Whenever you are trying to close a profitable trade, the platform simply will not let you, until price starts moving against you. I ask them about this and they said it occurs when they get a different quote from the bank than the one you see on your screen. These things don't happen when you are learning how to trade, they only happen when you have a degree of competence and have a pretty good idea of what you are doing. The sad thing is you wait all day for the perfect set-up and then when you get it they won't allow you to have what you have worked so hard to earn. I give them to thumbs down.|
RUN AND take your money with you to a more honest broker.
|- Reviewed by ME2, December 18, 2008. Rating = 1/10|
|IBFX is the one of the worst brokers ever. Taking a position with this broker is up to you but closing it is up to IBFX. They will not let you close your trade when you are in a good profit. You will close it only when you have lost a lot. I had heard many things about stop loss hunting and trading against the traders by the broker but I had never experienced them personally until I opened an account with IBFX. I have no doubt that they trade against the position of their clients because it is proved to me. I take the same position with another broker and can easily close it with profit but the same position with IBFX never goes to a profit and even when I compare the charts I see the difference in the same currency pair and time frame.|
Of course those who have mini accounts and trade very small amount may not have such problems but if you are a professional trader with an account larger than $20,000 you know what I mean.
Their support team is also so rude and arrogant.
Be careful! There are a lots of brokers that you can trust. Stay away from IBFX.
|- Reviewed by VahTheTrader, December 13, 2008. Rating = 1/10|
|Spreads on major pairs (e.g., EURO/GBP) widen from 3 to 10 pips suddenly. No news release, no volatility, decent volume. No reason. I've had MT4 opened simultaneously with other brokers and they show nothing. And the problem with them rejecting orders [off quote] is very, very real. Getting out of a position can be a nightmare. I'm packing up & taking my business elsewhere. Those who think they're terrific, simply don't know any better. Caveat emptor.|
|- Reviewed by Aaron, December 9, 2008. Rating = 1/10|
|Hi Vick, you are right these people are a bunch of complainers!! I am new to the forex market and have tried all sorts of demos. I opened live accounts with IBFX, Fxsolutions and CMS. LIZ, maybe you should have learned the platform first. In a fast moving market it doesnt matter what broker you have, you are going to get requote all the time. You should have put a manual stop, or a trailing stop. Which neither of them I have never had NOT filled. If you're trying to close a postion in a fast moving market you will get requoted!! Or even trying to open a position in a fast moving market your going to get requoted PERIOD!!!!! I recently finished 3rd in the Mini Forex trading contest with IBFX a 562% gain. 250.00 turned into 1650.00 roughly. 750.00 prize money was credited to my account within a week, way before what the offical rules stated. I withdrew money from the account and they were very fast sending me the check, just as fast with depositing money too!|
I have had no problems what so ever with anything with IBFX, and no LIZ I do not work for them. I live in Michigan.
|- Reviewed by Cwvman, November 16, 2008. Rating = 10/10|
|Interbank is the worst, I just had my nightmare with them, while I was trading, I was making money, I was plus $3000 then I wanted to close my position, and thier platform won't let me, I tried so many times, I kept getting, Requote, requote and requote, so I couldn't close my position so I tried to log in again, it took me about 30 minutes to see what had happened to my position and at that time it was -$500 so I contacted them life to help, they flatly refused to admit it's thier platform fault, they kept telling me that it's the user fault, in fact even in my Journal it showed that I tried to close my position when it was making money, but still they simply said there is nothing wrong with thier platform. INTERBANK IS BUNCH OF THIEVES, and I advise everybody to stay away from them, and for those who write something nice about them here, you must be working with them you are not a customer.|
INTERBANK FX = THIEVES
|- Reviewed by Liz, November 13, 2008. Rating = 1/10|
|You guys are a bunch of complainers. Interbank is a good broker. I have traded with them for years and have always had good experience. I traded with FXCM before and they are horrible when you compare them to Interbank. If Interbank was not the best choice out there then why do they get so many awards like best broker with shares magazine, best online broker with money AM, Inc 500.....?????|
|- Reviewed by Vick, November 13, 2008. Rating = 10/10|
|In response to the previous post...|
Having personally visited Interbank FX in Salt Lake City, UT (hardly a poe dunk town) and met the vast majority of the Compliance dept. ranging from their 40 something Compliance Director (former NFA Auditor) to their Compliance Specialists that are all in their late 20's or early 30's, many of whom are ex-NFA employees, I would suspect that you have tried to cheat the rules and are now trying to seek some sort of revenge.
I would have to suggest that others read into reviews for what they are. I am a trader from NYC and have dealt with all of the big firms. (FXCM, GFT, Oanda, etc) I have had a better experience and a more honest dealing with Interbank FX and their team than I have had anywhere else. They provide great customer service and the Compliance team, in my dealings, was more than gracious in explaining exactly what they needed from me and why. They are simply trying to keep things on the up and up. They are always willing to work with me when I request things that are out of the ordinary but they always want a good reason for it. It sound to me like they are just trying to protect themselves and their customers from fraud. As for the NFA trying to shut them down. I am sure that if their were problems of that level you would see and hear more about them. I suggest you do your research. I will continue to keep my many accounts and several hundred thousand dollars with them for a long time to come.
I wish you all the best in your trading.
|- Reviewed by T.A.F., November 13, 2008. Rating = 10/10|
|This broker is the WORST. I traded with them and here is what I found out. They are run out of some poe dunk town in Utah and they have 20 year olds running the business. I have an acquaintance at the NFA and they told me that they are seriously considering shutting this broker down. Their compliance department is run by an uneducated teen who is never there and doesn't know squat about compliance. If Mr. Crosland knew what was good, he would have fired that hot head years ago.|
|- Reviewed by Joe, October 30, 2008. Rating = 1/10|
|You might have read a lot of review saying requote, requote and requote. Is it a true review? I would like to urge u to read all the review and spend some real live money and get yourself stuck. Experience what is call requote.|
Lately, the server has not been responding to my order request. And the spread is widening.
How the spread widening works? It's obviously pre-program on their trading software. i.e. If the price goes up, the ASK price will increase by a few pips while the BID price still remain staying at the same. And after a few second of slow market movement, BID price will than catch-up to the normal spread. The same thing happen if it's downtrend. Once you place the trade, if it's favorable to you, the server will "hesitate" and throwing out new price - requote. If the price goes against you, than it will be your position. It's always the worst price u will get filled. and there's nothing like rebate. The happiest moment is when you're having some problem and wanting to have live chat on their website with trading helpdesk specialist. Why? because your internet is down! (or I should say the website is down?) Even you're on a 24x7 internet T1 line - same problem!
When you ask question, the helpdesk will take "sometime" to reply your chat session. and providing reply of "am i answer your question just now?" whenever there's any complaint.
All the service start dropping from 10 to 3 in the month of July 2008. And read this line carefuly.....
### it's financial crisis now, the market fluctuate in a gigantic wave. and you always filled with bad price ###
### How much $ are you going to earn than? ###
|- Reviewed by Benjamin Roger, October 28, 2008. Rating = 3/10|
|7.28.08: This weekend, IBFX decided to shut down 3 or 4 of their servers to activate a new one. Without any advance notice to customers. I spent 3 3/4 hours trying to get my Client Terminal (Metatrader 4) logged on to my account. The flippant response from the "live chat" service representative was that they (IBFX) were switching to a new server and that the transition wasn't going as smoothly as they had planned. I've been a customer of IBFX for nearly 4 years, and have had no complaints regarding their service until now. The new server still is not working properly, I keep getting notifications that my client terminal is logged on to an "Invalid Account" even though the server is logged onto the "mt4-04.ibfx.com:443" address as directed by the service rep.|
Additionally, my MT4 mobile service is no longer functioning, and IBFX's response as to when the mt4 mobile server would be up was "a couple of days." I hate to jump ship, but this has seriously damaged my confidence in IBFX as a reputable broker, no matter how many awards they may boast about on their web site. As always, I guess it's buyer beware...
|- Reviewed by fxid10t, July 29, 2008. Rating = 3/10|
|Bad spreads, requotes at the time you could make a profit and they seem to just come after your stop at off times.|
|- Reviewed by jm4x, July 21, 2008. Rating = 5/10|
|Today is the 4th of July and they closed the trading platform with no advanced warning to their clients, they just closed on client's opened trades. They also had spreads widen 6 pips today with no economic news. Yes all of the horrid reviews you read about IBFX is true, they are the crooks that you read about. Stay away, even if you are a seasoned trader like me. New traders definitely stay away, or they will skin you alive and rob you blind in plan sight with all kind of platform crashes, especially if you have a trade that is really going in your favor in a big way, then your platform will mysteriously repair in self when your trade is going against you. If you open a trade with them and it is going your way, please for your sakes do a trailing stop to lock in your profits of have a TP level, and if it is a really big trade, they still may not close it once your TP is hit. I have had to close my TP's manually on quite a few occasions. Also their re-quotes are ungodly. Just watch them.|
|- Reviewed by ME, July 5, 2008. Rating = 1/10|
|Used to have problem with the spread and execution during news release. These are nowdays better but still could be better. Live from 1.5 yrs and demo for more than 2 yrs.|
|- Reviewed by csizo, May 25, 2008. Rating = 6/10|
|Straight through processing, spreads only widen by 10 pips or so during very volatile news releases and they warn you by email the day before.|
|- Reviewed by John, May 7, 2008. Rating = 10/10|
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2008/09 Interbank FX Ratings
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2007/08 Interbank FX Reviews
May 1, 2007 - Apr 30, 2008
|I have held two accounts with IBFX over the past 2 years and I have noticed a reoccouring theme with both of them. Everything starts out fine, very few requotes, no questionable stops...etc until you begin to have a few successful trades. Then all of a sudden almost every trade starts to get requoted. The last straw happened just this morning. After having 8 successful trades in a row over the past two days, I placed a trade that was prematurely stopped out at 49% equity and was still 30 pips away from my stop loss. They weren't always like this but recently they are changing. From now on I'm only going to use IBFX for automated grid trading and for scalping or until the last little bit of the account gets sucked away from me. I'm hoping to find a broker that won't interfere with my manual interday and mid term trades.|
|- Reviewed by zetagc, April 26, 2008. Rating = 2/10|
|Do not use this broker. I am part of a managed account and they have tampered with settings and ruined our accounts. My audits have shown several changed trades and lot sizes. The owner is disinterested in helping and they are not concerned about chat returns, or e-mail inquires. Basically, said too bad so sad. Seriously unfair and unscrupulous.|
|- Reviewed by Xena, March 8, 2008. Rating = 1/10|
|Solid broker, but sometimes increase spreads for news when I don't think they should have...Overall they rock and have a slight edge over FXDD which I also considered...I'll go with FX Solutions (they are the best in my opinion). Watch FXSol's videos and demo their platform newbies, and you'll thank ma a**|
|- Reviewed by Epiphany, November 1, 2007. Rating = 7/10|
|Platform is good. Feed is bad. Goes down regularly. They shadow true bank prices and occasionally manipulate it to hide but increase the spread. One of the better bucketshops, but still a bucketshop nonetheless. Not content to make money just off the spread.|
|- Reviewed by terminex, October 24, 2007. Rating = 2/10|
|Very user friendly platform with several technical tools to assist the trader. However, connection is lost sometimes during trading.|
|- Reviewed by delano, October 15, 2007. Rating = 8/10|
|very stable lately... great customer service...over 2 years as a customer with LIVE account and no problems to speak of...highly recommend|
|- Reviewed by TraderDave, June 7, 2007. Rating = 8/10|
|Excellent Software and Great Customer Service. Very good fills with very little re-quotes.|
|- Reviewed by Emilio, June 5, 2007. Rating = 9/10|
|Platform is unstable and buggy (the so called "strategy tester" does not work at all). Traders can program their own strategy and run it automated - That would be a good thing if the software wasn't such a piece of crap.|
Small order sizes are available (1000 currency units), but they will lock out any account that they feel closes orders too quickly (scalping). If they are getting the spread every time, then they shouldn't care how often (in fact, they should make more money from active traders).
Also, they told me that I don't have to pay taxes on returns, so they won't be filing anything with IRS. This is a HUGE red flag - Stay away.
|- Reviewed by Former IBFX Trader, May 22, 2007. Rating = 2/10|
|Good until recently. Now they have wide spreads during news times and poor execution.|
|- Reviewed by Robert, May 15, 2007. Rating = 5/10|
|Changed rules on news trading without informing clients. Spreads went from a normal 4 to 7 pips at the news to 12 pips and 10 seconds to accept trade. Same on closing position.|
|- Reviewed by Larry, May 5, 2007. Rating = 3/10|
|Had server problems each week.|
|- Reviewed by minime, May 4, 2007. Rating = 5/10|
|Great charts but not so great data feed. 1 minute feed is hopeless. Often a HUGE delay in processing orders. This locks up the platform and prevents any further trading until it is resolved. Trailing stops only work when you are connected on-line!|
|- Reviewed by Tigertrader, May 2, 2007. Rating = 7/10|
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2007/08 Interbank FX Ratings
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2006/07 InterbankFX Reviews
May 1, 2006 - Apr 30, 2007
|This my experience trading with Real Account in InterbankFX.|
*GOOD* : Offer mini account with 1 lot=10,000 minimum contract size 0.01 lot, leverage 1:200,Platform Metatrader 3 or 4 support EA, Online chating with Customer Support, Registered CFTC/NFA, Spread Eur/Usd 2 pips, Fund deposits use Wire for International Client 1 day done.
*PROBLEM* : So far i don't have serious problem but Spread during news event sometimes become wider Eur/Usd 6-8 pips but this is normal, Deposit fund by wire for International Client ussually will deduce $20 by intermediary bank,we can accept because very reasonable.
Started $250 for open mini account, $2500 for standard account.
|- Reviewed by mondros, April 15, 2007. Rating = 7/10|
|Used to be my favorite, however since Dec. 2006 their spreads have been widening (have seen 13-16 pips on Cable and Euro) like crazy and they seem to be stop-hunting much more aggressively.|
|- Reviewed by Andrei, March 23, 2007. Rating = 7/10|
|Pip spreads fluctuate all over the place. Used to be one of the best I could find now you don't know what you are going to get. Put up five different brokerage demos and once after news was in all went up cosiderably with the news, but came back to a 3-4 pip spread on the GBP/USD in around three to four minutes. IBFX still was running 12-18 pip spreads 18 minutes after the news was over. OUTRAGEOUS! Even when there wasn't any news they would be double the pip spreads of any broker out there. Before cancelling my account I was in a trade and all the other accounts was charging 3-4 pips but IBFX suddenly went up to 8-9 pip spreads. I knew that was it. Don't use them.|
|- Reviewed by rhair, March 5, 2007. Rating = 1/10|
|Good thing it has a PDA platform, other then that, vmany problems to enter, stop, change, move, when business is moving through the day, you have to call to get out or move your stop. It makes you crazy.|
|- Reviewed by Dee, November 18, 2006. Rating = 2/10|
|I've been around for a while and I've never traded a more unstable MT4 platform, and I generally like MT4. As soon as the market shows any volatility InterbankFX either does something to screw it up or shut the trader out from trying to either close the trade or open a trade. It's the most frustrating thing in the world to not be able to enter any orders. If it's 3:00 AM the platform works fine. It appears that they live off of newbies. Don't trade with InterbankFx.|
|- Reviewed by Stephen, November 12, 2006. Rating = 3/10|
|I'm trading with them for the last 2 months. Their Trading platform is unstable. During news time forget that you can trade. You can use it only when no one else is trading.|
|- Reviewed by Kamran, August 29, 2006. Rating = 3/10|
|Once I started profiting from 'News' they would freeze the platform as soon as I entered a trade and wouldn't allow me to change stops or close. I told them it was stealing and closed my account.|
|- Reviewed by Rod, August 19, 2006. Rating = 1/10|
|It is the fastest, guaranteed money.|
|- Reviewed by Agulerer, August 7, 2006. Rating = 10/10|
|They were once a fast and stable broker. Now, they frigged up my account because of their very slow execution speed. I'm a news trader, and if you are a news trader too, interbankfx is not for you.|
My orders take up to 15 seconds on average before telling me "off-quote".
|- Reviewed by DonPerry, July 29, 2006. Rating = 1/10|
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2006/07 Interbank FX Ratings
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2005/06 InterbankFX Reviews
May 1, 2005 - Apr 30, 2006
|200:1 leverage, 2 pips spread for EUR/USD, I have a mini account with them. They provide micro trading with 0.01 lot, good for traders with little capital.|
|Rating = 8/10 - April 15, 2006|
|Interbankfx, they are very good with customer service, and the trading platform is the best, but it does take some learning to understand the platform. You can have the platform do automatic trading if you like. My one problem with them is that the pip spread is wider that I like one all the currencies except one, and the one that has a 2 PIP spread (EUR/USD), sometimes changes to as high 5 pips without notice.|
|Rating = 7/10 - April 9, 2006|
|Horrible MT4 support. Incompetent support staff and absolutely the worst in-house EA programming department I've ever seen! Stay away, very far away!!|
|Rating = 1/10 - April 3, 2006|
|I've been trading with Interbank for a while now, I see no difference between their live trading and their demos. My trades are closed in an instant, plus I can trade from my pocket pc, anywhere.|
|Rating = 9/10 - September 14, 2005|
|They suspended my live account with no authorization or warning of any kind. Official stance was that the trading was flooding their servers. Customer service was rude.|
|Rating = 1/10 - July 6, 2005|
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2005/06 Interbank FX Ratings
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2004/05 InterbankFX Reviews
May 1, 2004 - Apr 30, 2005
|Interbankfx is my broker and they run stops as far out as 20 pips! Crooks total Crooks. 0 out of 10|
|- Apr 3, 2005|
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2004/05 Interbank FX Ratings
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