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The Forex Customer Support Challenge: IBFX

May 16 2013
By
Forexbrokerz.com

Having talked to a few brokers for the Forex Customer Support Challenge, we already have a basis for comparison and let me tell you – things are even more amusing that way. 

 
Today we talk to the Australian branch of IBFX. If you type support in the broker's search bar, you get greeted by a link saying “Award Winning Forex Support & Customer Service” - but is that so and is IBFX's support team award material? Let's find out. 
 
 
You are now chatting with 'Client Services 20'

Client Services 20: Hello, this is Mo. How may I help you? 

Hannah: Hi Mo. I have never traded forex before and I want to try your services but I have a few questions first. 

Client Services 20: Sure, go ahead

Hannah: I read a few forex broker reviews and they all mention slippage but I don't know what's that. Can you please tell me? 

Client Services 20: Slippage is a term that gets used when an order gets filled at a price other than what you would expect.

Client Services 20: Like a stop loss order that fills at a lower price than you had put in.

Hannah: Does it work both ways? Can I get my trade filled at a better price? 

Client Services 20: In the case of IBFX, our trades all fill at the first available market price.
Client Services 20: That does allow for trades to be filled at a better or worse price depending on the market conditions.

Hannah: Ok, cool. 
Hannah: If I open a trade and then close the trading software by mistake, what will happen to my trade? I often close things by mistakes and I'm worried I can lose money like this...

Client Services 20: If you close the platform by mistake the trade remains open.
Client Services 20: If the trade itself is closed by mistake, then the trade would be final.

Hannah: Ok. About the trading software: I don't like it that it's called Metatrader 4, four is a very unlucky number for me. What are my options here? Is there a way to rename it? I can work with Metatrader 7 or something like that.

Client Services 20: Unfortunately, that is just the software's name. We don't have other trading software available.

Hannah: Bummer... Can I at least change the color? I searched for Metatrader 4 images on google, it is very dull and even a bit sad. Can I make it orange or something else cheerful to neutralize the bad luck 4 brings me? 

Client Services 20: The charts can be changed to look like whatever you want as far as the colors go. The rest of it cannot be changed.

Hannah: Geez... I'll have to see if I can work with it then... 
Hannah: What about that IBFX Connect thing you have - is it like facebook or something? 

Client Services 20: Somewhat. It is a site that allows you to share your trading and talk to other traders.

Hannah: Can you also share pictures on it? 
Hannah: I like sharing pictures of my dogs.

Client Services 20: No, it doesn't let you up load pictures like that. You have your profile picture but that is it as far as that goes.

Hannah: Oh, ok. Speaking of dogs, have you seen this thing, Texts from Dog? 
Hannah: It's hilarious. A french bulldog sends texts to its owner (they're fake, obviously) - but it's really good. 

Client Services 20: I am not familiar with that.

Hannah: You should google it. Wait, let me give you the link.

Client Services 20: That isn't necessary.
Client Services 20: Did you have any forex/ trading questions I can help you with?

Hannah: Well I really wanted to make your day brighter with the texts from the dog but I can't force it on you... 
Hannah: Last question (forex related): How many trades can I open if I deposit $500? 
Hannah: I wanna trade gold.

Client Services 20: That would depend on the lot size you chose and the leverage for your account.
 
Hannah: Ok. I'll go google "leverage" and "lot size" and some LOLcats pictures now.

Hannah: Thank you for your help, have a nice day! 

Client Services 20: My pleasure, contact us anytime. 
 
 
 

The Sentence

 
Response time:
Accuracy of the answers:
Personal attitude:
Patience:
Sense of humor: 
 
Overall score: 12/25
 
Overall impression: Mo, also known as Client Services 20, was very quick answering my questions, and while all the information he/she gave me was technically accurate, there were no additional details or explanations to make it easier for someone who explicitly said they have no idea about forex – I honestly expected a lot more. Take IBFX Connect for example – why not focus on that, bring it up yourself and tell a newbie that social trading is a great way to get started?! No points for being proactive, Mo, sorry - you didn't try to connect with me on any level, so I don't think I want to sign up with you
 
Patience-wise things were somewhat ok until I decided to share with Mo some funny pictures of a dog texting. I mean, how rad is that? A dog sending its owner hilarious texts? I would definitely want to know more about it – and Mo didn't even want to have the link! That guy/gal was so boring that it was me losing patience in the end, finishing the conversation before insisting on an explanation what's lot and leverage (which was in place there, I believe). 
 
All in all, I'm not impressed and I don't buy it that IBFX's support is “award winning” - unless they got some of those participation medals. 
 
 
More of the Forex Customer Support Challenge: 
SkyFX
 
TAGS: forex broker  customer service  customer service challenge  best customer support  IBFX 

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