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IB Review: Terrible customer service and horrible slippage

Their customer service is the horrible and their fills are even worse.

After trading for a week with IB, I experienced negative slippage on over 75% of my limit orders and almost 100% of my stops. This was in rather slow moving market conditions. After taking 3.5 pips of slippage on my breakeven+1 stop this morning, I called it quits.

These guys are a joke. Out of 30+ trades, I had positive slippage once and negative slippage every trade either on the limit fill, stop, or break even.

Not to mention they part out orders. Multiple times they parted out my 100k stop order into multiple small orders, charging me multiple commissions for each order. They cannot tell me there wasn't at least 100k at that price point to fill me if they are a true ECN and not just another bucket shop.

If I didn't use Ninja as a front end, I would never have opened an IB account. Their reputation is horrible.

jim, forexpeacearmy.com 2009-07-27

Interactive Brokers Interactive Brokers Review

Interactive Brokers Review - Forex trading experience and rating

Headquarters:
One Pickwick Plaza, Greenwich, CT 06830 USA

Country: United States

 

Regulated by:

CFTC, NFA (US) , FSA (UK), IIROC (Canada)

 


Trader's rate 3.1
Editor's rate 3.6

Account Info:

minimum deposit: $2,000

minimum lot size: 25k

max leverage: 1:50

 

Spread:

Variable, from 0.1 pips

Commissons: 0.2 pips, minimum $2,5

 

Deposit/Withdraw

Bank Wire, Check

 

Platform:

Custom trading platform

 

Broker type: ECN

 

Forex Signals:

Interactive brokers partners with Zulutrade to provide traders with access to the best forex signal providers in the world



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