IBFXInterbank FX LLC

Dennis, FPA, 12/01/2009 ,

I've been trading with them for the past fourth months now, and have no problems to speak of. The execution of trades are almost immediate, I rarely receive any requotes, and the slippage is minimal. Of course I trade with an EA so that might make a difference, plus I don't use stop losses. Oh, they allow you to keep your "old" EA's, which retain the same functionality they had before the new "FIFO" regulations. That is a big plus.

So, if these brokers had any problems in the past, I'm unaware of anything happening currently.

Megrover, Goforex.net, 10/29/2009 ,

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.

HJalil, FPA, 09/05/2009 ,

I've been trading on live acc. for like 6 months..had few brokers as well..just to know which one is offering the best. But for IBFX, i tried to deposit my account with my credit card but few days later they asked me to forward to them a scanned copy of my card (back & front) which is not a normal practice. They didn't even ask me to hide the 3 digits security digits on the card..only after i notified them about this then they said i can hide those security digits. Why such a big name of broker ( as advertised ) seemed so unprofessional...so watch out. For me..i just stay away. Never deposit any amount into this acc. till today.

mm777, Goforex.net, 09/05/2009 ,

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.

FXGhosthand, Earnforex.com, 08/04/2009 ,

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.

Dr. G, Forexpeacearmy.com, 08/04/2009 ,

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.

Onouf, Goforex.net, 08/04/2009 ,

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!!!

NYC_Trader, Forexpeacearmy.com, 08/04/2009 ,

I can't believe i went for their service. REGRETS!

They are place where newbs go (due to their GOOD marketing skills, ads everywhere) new traders usually sign with them because they keep professional appearance. If u want to be profitable trader, look somewhere else. fill-ins terrible, spreads outrageous, stop hunters spike jump 50 pip outta nowhere (not news)! to make me lose 1K their response o it was due our liquidity banks` sudden change. SURE! lost 13K with them as whole. I think only reason they are NFA backed is due to their high balance sheet.

Goodbye IBFX, stay away traders!

Ben-Noble, Earnforex.com, 08/04/2009 ,

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.

Dean, Goforex.net, 08/04/2009 ,

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.

Steve, Forexpeacearmy.com, 08/04/2009 ,

I use them because they were recommended, and supposedly won awards. The other reviews have hit it on the head....constant requotes, and confirmation requests....even when the market isn't active! I have some major ethical questions re this broker! I would NOT recommend them to anyone!

Ric, Goforex.net, 08/04/2009 ,

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.

Edo, Forexpeacearmy.com, 08/04/2009 ,

This broker like to steal pips from you.. They are the only broker that ask you to confirm your order in times when you follow the big trend.
And they did it even twice-three times, So when your order are accepted the price is against you. ANd they also widen their spread in some cross currencies when market is about to close..

Interbank sucks.. PIPS STEALER!!!!!!!!!!!!!

Jack, Goforex.net, 08/04/2009 ,

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?

Russ, Earnforex.com, 08/04/2009 ,

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?

ME2, Goforex.net, 08/04/2009 ,

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.

Vahid, Forexfactory.com, 08/04/2009 ,

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.