IBFX Interbank FX Review

IBFX real time & average spread

Real time spread
N/A
Average spread
For the last hour
Min spread
N/A
Max spread
N/A
Swap long: n/a
Swap short: n/a
Stop/Limit level: n/a
0.45 pips

IBFX execution and slippage

1.37 pips

IBFX slippage with Kama-spot trading strategy

Kama-spot is a forex trading strategy, based on technical analysis. It trades mainly EUR/USD, GBP/USD and USD/CHF

Average profit:                14.0 pips
Average trade lifespan:  19 hours
Most traded pairs:               EUR/USD, GBP/USD and USD/CHF

 

0.36 pips

IBFX slippage with Saved FX trading strategy

Average profit:                  16.0 pips

Average trade lifespan:    1 day

Most traded pairs:                 EUR/USD, GBP/USD, USD/CHF
0.15 pips

IBFX slippage with Qurenix trading strategy

Average profit:                  9.0 pips

Average trade lifespan:  5 hours

Most traded pairs:             EUR/USD
1.05 pips

IBFX slippage with Forex Cruise Control trading strategy

Average pips/trade:           5.0

Average trade lifespan:   18 hours

Most traded pairs:              GBP/USD
0.19 pips

IBFX slippage with For333 trading strategy

Average pips/trade:           12.0

Average trade lifespan:   15 hours

Most traded pairs:              GBP/USD, EUR/USD, AUD/USD
0.28 pips

IBFX slippage with Azar Consulting trading strategy

Average profit:                   28.0 pips

Average trade lifespan:   3 days

Most traded pairs:               EUR/USD
0.65 pips

IBFX slippage with The Best Player trading strategy

Average profit:                  22.0 pips

Average trade lifespan:   13 hours

Most traded pairs:               EUR/USD
0.13 pips

IBFX slippage with Xiaolidao trading strategy

Average pips/trade:           9.0 pips

Average trade lifespan:   1 day

Most traded pairs:               EUR/USD
0.12 pips

IBFX slippage with Youron trading strategy

Average profit:                  9.0 pips

Average trade lifespan:   11 hours

Most traded pairs:               EUR/USD, GBP/USD
0.19 pips

IBFX slippage with Duanxian(GBP\USD) trading strategy

Average profit:                      10.0 pips

Average trade lifespan:      1 days
 
Most traded pairs:                   EUR/USD, NZD/USD, GBP/USD
IBFX Review: IBFX real forex trading spreads on MT4 forex account

 

Find Better Broker  

Headquarters: 3165 Millrock Drive, STE 200, Salt Lake City, UT 84121-473

Country: United States

Regulated by: CFTC, NFA (US)

Branches: IBFX Australia 

 

Interbank FX was recently acquired by TradeStation Inc.

Trader's rate 2.7
Editor's rate 3.8
19 reviews

IBFX Account Details:

minimum deposit: $1

minimum lot size: 1k

max leverage: 50:1

 

Spread:

Variable, from 1 pips

 

Dealing:

STP - Straight Through Processing 

 

Deposit/Withdraw

Bank Wire, Credit card,  Check

 

Free forex VPS

$5000 minimum deposit required

 

Platform:

MT4, MT5 (Demo), TradeStation, TradeStation IFX

 

Forex VPS

Free for accounts with $5,000 balance

 

Forex signals and social trading

Autochartist

IBFXconnect (powered by FX Junction)


What we think about IBFX

IBFX is a global forex broker that is an excellent choice for beginners: with no requirement for the minimum deposit and nano-lot trading, you can start trading with an investment as tiny as let's say $10. Add to this the broker's extensive educational section,  and you have an outstanding starting point in forex. 

 
More advanced traders are also taken care of: for them, there is a large variety of extras, such as the Autochartist pattern recognition tool, a volatility indicator, risk calculator, Expert Advisors, etc. 
 
IBFX's advantages don't stop here, though. One of the things we quite like about it it is that it is quite transparent and publishes data about its spreads and execution time on its website. This is how we know that the average execution time for the past year is 26 milliseconds, and 99.81% of the trades are filled at the requested price. Traders have access to a deep pool of liquidity providers via the MetaTrader 4 (MT4) and Trading Station platforms and a choice between Standard and Mini accounts.  
 
Mirror trading is also available through the broker's very own social trading network IBFX Connect.
 
Two more treats that you will find with IBFX are the VPS (offered with exclusive conditions to traders with equity if $5,000+) and the IBFX debit card that can be used for faster and more convenient payments. 
 
Security wise, IBFX falls under the draconian requirements of the NFA and the CFTC in the US – nothing to be concerned about here. 
 
U.S. residents are welcome to trade with IBFX. 
Latest news about IBFX See more...

Spread

Our SpreadMonitor is designed to scan IBFX quotes tick by tick and to provide you with unbiased information about the average, minimum and maximum spread for a certain timeframe. 

 

Although spreads are an important factor in choosing a forex broker, you also should take into account commisions, slippage, regulation and broker's reputation.  

Slippage

Slippage is the difference between the price you’ve placed your market or pending order at and the price broker have executed it at. Our slippage data is sampled from over 1000 real accounts, following the top 10 Zulutrade signal providers. Unfortunately IBFX is not among Zulutrade's partners and we can't provide you with unbiased info on its slippage. 

 

During volatile market your pending orders may be filled with positive as well as with negative slippage. 

 

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. Trading during volatile market (e.g. news releases) and low liquidity times (e.g. pre-Tokyo open Asian session) can lead to excessive slippage. To find our what is the slippage on your own trades with IBFX or any other MT4 broker, download our free EA.

Requotes

IBFX doesn't requote - all market orders are executed at first available price.

Price feed

IBFX is an STP broker, providing its clients with access with access to deep liquidity from 10 global banks including J.P. Morgan, Bank of America, Citigroup and Goldman Sachs. With so many liquidity providers you can be sure that there is no price manipulation and stop hunting. 

 

This multi-bank liquidity allows IBFX's smart routing system to direct your trade to the right liquidity provider and get it executed in under 0.05 seconds. IBFX rejects less than 0.2%  of the orders.

Platform

IBFX METATRADER 4 

MT4 is a user frienly, yet powerful forex trading platform. IBFX MT4 comes equipped with Autochartist, One-click-execution plugin and bunch of EAs, custom indicators, scripts and tools

 

Benefits of using IBFX MT4

- One-click-execution -  IBFX MT4 comes with Mini Terminal plugin, allowing you to execute an order with a single click.

- Autochartist  - IBFX has seamlessly integrated the chart pattern recognition plugin into their version of MT4

- Build and backtest your own automated trading strategies. If you are not familiar with MT4 program language, you can choose from numerous preloaded custom tools, indicators and EAs. 

 

Deposit/Withdraw

Deposit

Withdraw

Bank Wire
Credit Card
Check 

Bank Wire
Credit Card
Check

 

Interbank FX is one of the few forex brokers providing traders with free debit card. With the Prepaid MasterCard traders have on-demand access to their Forex account. The Global Debit Card that can be used anywhere that MasterCard is accepted, regardless of country or currency. 

 

IBFX charges $50 inactive account fee per month. An "inactive account" is defined as an account which has no open trades and has had neither a trade opened or closed nor a deposit made in the past nine months.

Customer service

IBFX Customer service reps are available 24/7. They are really polite and ready to help. 

Summary

IBFX Pros

IBFX Cons

Upgraded Metatrader 4 platform

Deep multi bank liquidity

$1 Minimum Deposit

24/7 Customer Service

Regulated by NFA (US) and ASIC (Australia)

Spreads are not among the tightest

 

 

 

 

Traders` reviews for IBFX Add review

These guys trade against their client

These guys trade against their client, stop hunting, requote after requote and will fill you in or exit your positions a few pips from current market.

BDFOREX 05/14/2014

Trading with IBFX makes a lot of sense

I have traded with a number of Forex brokers and so far IBFX is my favorite. Their spreads are not as competitive as the ones of other brokers, however if you look at the slippage you get there as opposed to the slippage from other brokers, in the long run IBFX is way better (here I’m not factoring trading during news releases due to the nature of that type of trade). IBFX has also proven to be faster than most of the other brokers I have used - so kudos!

Phill 06/25/2012

InterbankFX's MT4 allows one click trading, I like it

I don't trade news so I can't comment on the frozen data/platform issues mentioned. 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. Oanda, CMS, and FX Solutions have all frozen up on me before during NFP and other high volatile periods.

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 3-5 pips here and there doesn't matter with my trading style.

Their custom version of MT4 has a lot of great bells and whistles for one click opening/closing/modifiying of trades. And they also provide a host of great trading tools and indicators.

I've been pretty satisfied for 3 years now.

JUtah 09/18/2011

Scalping and over-leveraged trading kill traders. Don't blame IBFX

In a zero-sum game, there will be a winner, and a looser. 99% of forex traders are losers. 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 0.1 second!

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.

bBot 08/19/2011

IBFX introduced an account inactivity fee

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...

Dominic 08/15/2011

Interbank FX review

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.

teodora teitsma 08/10/2011

Interbank FX publishes their spread and execution stats

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...

Carina Leesmann 08/02/2011

IBFX's MT4 platform freezes during important news releases

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.

Yurry 07/28/2011

IBFX Insider: I worked for these guys for 3 years

I worked for these guys for 3 years. Their operation is ok since their liquidity provider Forex Liquidity llc. was shut down.

IBFX offers leverage up to 50:1 and you folks are crazy if you trade at that leverage. Remember, your forex broker doesn't matter, trading spot forex is a loosing game. You will lose all your money and at 50:1 leveage you will lose it twice as fast.

IBFX Insider 02/08/2011

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. 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.

Megrover, Goforex.net 10/29/2009

FXDD closed my position

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.

mm777, Goforex.net 09/04/2009

I have no doubt that IBFX trades against its clients

IBFX (Interbank FX) 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 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.

Vahid, Forexfactory.com 08/03/2009

IBFX cheats by off-quotes and requotes

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.

ME2, Goforex.net 08/03/2009

The size of IBFX daily turnover speaks for itself

Do yourself a favour... Check out every other broker on here before you look at IBFX. Why? 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?

Russ, Earnforex.com 08/03/2009

IBFX is a great marketer but a very poor broker

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?

Jack, Goforex.net 08/03/2009

You are moron if you think it's IBFX trying to screw you

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.

Ric, Goforex.net 08/03/2009

I'm a Forex professional

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.

Dean, Goforex.net 08/03/2009

IBFX DOING IT BIG! WHATEVER!

I would like to know who's making money if the majority of brokers appear to be shooting at the stop.

Which brokers are allowing you to trade w/o all the interference?

It's dangerous, but when I realized I was being cheated, I cheated. Due to the stop hunt [which I've experienced in the pass] I refuse to add stops to my trades and it works for me.

Nevertheless, I would prefer to trade with integrity driven brokers/companies.

Ben-Noble, Earnforex.com 08/03/2009

IBFX will take action to disconnect you and make you lose

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 lose.

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!!!

Onouf, Goforex.net 08/03/2009