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They will not let you close your trade when you are in a good profit. Keep in mind that slippage may vary from trader to trader, depending on trading style, liquidity during the time of day when orders are executed, server location, network lag etc. Their customer service is knowledgeable, helpful and friendly.
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I will say that when I did trade news in the past, I've experienced that issue with almost every broker I've used live. I have yet to have any issues with any of IBFX's business practices. Withdrawals have been quick and seamless. I've even picked up a check from their office with no issues. The few customer service experiences went well and issues were resolved quickly. Although it did seem like I had to explain myself quite a few times. I'm pretty sure they're trained to find keywords in the inquery and then revert to a script like most customer service desks run in any business.
Spreads do widen and sometimes during periods of little activity which is sort of odd. But pips here and there doesn't matter with my trading style. And they also provide a host of great trading tools and indicators.
I've been pretty satisfied for 3 years now. In a zero-sum game, there will be a winner, and a looser. They blow their accounts in a couple of weeks. Losers blame the broker, the execution time, the quality of price feed and so on. I've been trading with IBFX for over 3 years now. They are one of the largest and most reliable retail forex brokers out there.
Their order matching system is second to none. Check the statistic on the IBFX's website. The average execution time is well below 0. If you are a FX rookie, make sure you know the basics.
Scalping and over-leveraged trading kill the majority of newbie traders. Don't blame your broker on that. IBFX recently introduced an account inactivity fee and didn't notify account holders of the change. Needless to say I and many others got stung. I contacted their customer support, who said there was a clause in the customer agreement about their right to introduce the fee which I don't dispute but then when I asked to see a copy of the agreement, neither he, nor I, could find one on the website.
Fair enough I signed when I opened the account, but I'd still like to be able to see a copy of it They basically seem pretty underhanded to me.
I can't give a balanced view of the trading experience, but the overall company seems pretty uncouth to pull this little trick I found them to be great broker. Very reliable, I not experience problems people say here. Sorry for broken English, is not my native language. This is a tough analysis On the one hand we have a handful of bad reviews for this broker from traders, while the Editors give them a higher ranking. On the other hand, Interbank FX publishes their spread and execution stats, and have proven to be a very reliable broker in the 18 months that I've used them.
But I understand that pissed off people are more likely to post a bad review. But my experience has been good. Support is excellent and quite friendly. Execution for me has been great. And this is more than I can say for brokers I've traded with previously IBFX's MT4 platform freezes during important news releases and if you have an open position, you have no chance to move the stop loss or close it.
I asked the customer service support what's the problem and they told me to try another server, but the problem persist. Moreover they widen their spreads during large movements.
Stay away, especially if you looking for less than 10 pips per trader. I worked for these guys for 3 years. Their operation is ok since their liquidity provider Forex Liquidity llc. IBFX offers leverage up to Remember, your forex broker doesn't matter, trading spot forex is a loosing game. You will lose all your money and at 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. 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. 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. I had a buy to cover a short order. They closed out my order exactly 1 hour before the market opened. They pocketed the They said that was policy.
I took my trading elsewhere after that fiasco. 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 took the same position with another broker and could easily close it with profit but the same position with IBFX never went to a profit and even when I compared the charts I see the difference in the same currency pair and time frame.
I know another trader who has experienced the stop loss hunting with IBFX. 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. Do yourself a favour Check out every other broker on here before you look at IBFX. Because if you check IBFX out first, you wont have a chance to see how poorly put together the other companies are! IBFX has great customer service, education, spreads, and neat add-ons for Metatrader.
The size of thier daily trades speaks for itself. Honestly, these guys are excellent, and with anonomous market execution, it means you are not dealing against your broker What more could you want? 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? 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. 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. I'm a Forex professional working in the business. TradeStation which is owned by Monex Group Japan is exiting the retail foreign exchange business in the U. Provided that all clients stick with OANDA after the deal, the company could become the second largest retail foreign exchange dealer in the U.
Join the Leading Industry Event! TradeStation has been deemed as one of the best trading platforms in the industry and a number of clients in the U. As part of the deal, clients of IBFX are not going to retain access to their existing trading platform which is seen as the main driver behind opening an account with the U.
Looking at the U. Their client emails were written by someone with an I. I spent thousands to buy my Tradestation indicators that are dependent on automated strategies. They screwed me now. Multi charts supports easy language hopefully it is compatible. I was one of the U.