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Attachments: Interbank FX. The most reliable MT4 broker around?
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Interbank FX. The most reliable MT4 broker around?

  • Post #1
  • Quote
  • First Post: Apr 29, 2008 11:56am Apr 29, 2008 11:56am
Hello

I'm trading with IBFX since i read it was a good broker. I have not experienced any serious issues with it the two months i've been trading. I have, however seen som strange price movements, stoploss hunting and avoiding of common TP levels. Not so much though, so it has not yet affected me. I ususally try to get around this by using a few pips margin on every SL and TP (e.g. less profit for me).

Anyhow, is there a more reliable/honest broker out there?

I am not trading the news. Not scalping. Simply day trading based on technical analysis. I trade live with two standard lots.

What do you think of FXCM (who is adapting MT4 in a few months).
what do you mean by avoiding the common TP levels?
Quoting good
what do you mean by avoiding the common TP levels?
, i like to know
If I Go Broke Trying Then I Will die happy.
  • Post #4
  • Quote
  • Edited May 1, 2008 8:06pm Apr 29, 2008 9:44pm | Edited May 1, 2008 8:06pm
Quoting gindrol
Hello

I'm trading with IBFX since i read it was a good broker. I have not experienced any serious issues with it the two months i've been trading. I have, however seen som strange price movements, stoploss hunting and avoiding of common TP levels. Not so much though, so it has not yet affected me. I ususally try to get around this by using a few pips margin on every SL and TP (e.g. less profit for me).

Anyhow, is there a more reliable/honest broker out there?

I am not trading the news. Not scalping. Simply day trading based on technical analysis. I trade live with two standard lots.

What do you think of FXCM (who is adapting MT4 in a few months).
First, Interbank FX servers are quite more reliable than MIG Investments servers and they both use MT4. MIG Investments on the other hand has the spreads reduced to half compared to Interbank FX. I trade with both. My 3rd broker is Vanguard Investments from Romania, a subsidiary of a company in London and they offer the hell of a platform! If you want to check them out, here's the link http://www.vanguard.ro/, just look for the button that says "English". I tell you, it's the hell of a platform, you can trade Forex, CFDs, Indices and you have virtually every indicator that has been invented in technical analysis on their platform.
About FXCM... I'd keep away from that.
  •  Kitara
  • | Joined Mar 2008 | Status: This space for rent...call for info | 128 Posts
Hi,
I use both IBFX and FXCM. I like them both! I only opened an account with IBFX because they offered micro accounts and it was easier on my bank account while I played multiple pairs all at once.
I also don't play news or scalp. Execution on IBFX has been flawless, with the MT4 platform and even though I had minor problems with execution with FXCM they seem to be gone now. I really like both brokers.
If you were a scalper, I'm sure there are better brokers with tighter spreads, but for the problems you listed...I'm not sure if you'll find better. Please let us know if you do.
Nice spread today on GBPUSD (see attached). And please dont tell me this is because of the news report. I had MB Trading open and spread was only 8 pips on the "real" market.
Attached Image (click to enlarge)
Click to Enlarge Name: spread.jpg Size: 53 KB
IBFX doesn't use fractional pips. At least not on their mini server (mini 2).
Quoting Rabid
IBFX doesn't use fractional pips. At least not on their mini server (mini 2).
my bad, wrong thread.
If I Go Broke Trying Then I Will die happy.
Quoting Parmalat
First, Interbank FX servers are quite more reliable than MIG Investments servers and they both use MT4. MIG Investments on the other hand has the spreads reduced to half compared to Interbank FX. I trade with both. My 3rd broker is Vanguard Investments from Romania, a subsidiary of a company in London and they offer the hell of a platform! If you want to check them out, here's the link http://www.vanguard.ro/, just look for the button that says "English". I tell you, it's the hell of a platform, you can trade Forex, CFDs, Indices and you have virtually every indicator that has been invented in technical analysis on their platform.
About FXCM... I'd keep away from that. One of my friends, a very good trader, had an account with them, with more than 500,000 USD. Well... in one night he had less than 100,000 remaining. They placed fake orders on his account and wiped out a fortune. Since than I am trading with 3 brokers in 3 countries because although I don't have even near half a million, I still can't afford to lose 80% of my account.
Well that's called outright fraud and could easily be fought out in court. Frankly, something here stinks and it ain't FXCM. Please offer some proof of this very serious accusation.
Quoting scexglobal
Well that's called outright fraud and could easily be fought out in court. Frankly, something here stinks and it ain't FXCM. Please offer some proof of this very serious accusation.
That's what he told me and I believed him. There is a trial going on, of course, I will ask him to see whether there are some records that can be accessed on the internet. His motivation for moving to a broker in Romania was exactly this: if my account gets wiped out again, at least I have them here and I can drag them to court and the authorities, I don't have to go to America for that.
He would not be the first one to have received that kind of a treatment from FXCM
I think that some brokers have the bad habit to hedge their clients' positions. They know damn well that 95% of the trades placed are losers and if someone buys 100k of eur/usd target 100 pips/sl 50 pips, those brokers sell 100k of eur/usd target 50 pips/sl 100 pips and they expect to win. Now if some very good trader comes trading with them, it's obvious that by hedging his positions they (brokers) will lose a lot. And if that trader has enough volume in his account, he may deeply upset the hedging broker (think about them losing 50.000 $ per day because I know people making 25.000 $ per day) untill the broker wants him out (the irony!).
So actually brokers want 90% of their clients to be losers and maybe only 10% of their clients to make constant profits in the market while those 10% keep their volume low! If they end up trading with high volume, hedging brokers wouldn't like that.
So, if I were such a broker, I would wipe out my best clients' accounts and after a few years in the court I would finally admit that it was my mistake, give them back everything they lost and keep them out of my garden for good because I would have lost a lot more money if those clients would have traded with me day-by-day!
Easy solution is just to not hedge people that have a higher expectancy rate or higher levels of volume.
Quoting Parmalat
I think that some brokers have the bad habit to hedge their clients' positions. They know damn well that 95% of the trades placed are losers and if someone buys 100k of eur/usd target 100 pips/sl 50 pips, those brokers sell 100k of eur/usd target 50 pips/sl 100 pips and they expect to win. Now if some very good trader comes trading with them, it's obvious that by hedging his positions they (brokers) will lose a lot. And if that trader has enough volume in his account, he may deeply upset the hedging broker (think about them losing 50.000 $ per day because I know people making 25.000 $ per day) untill the broker wants him out (the irony!).
So actually brokers want 90% of their clients to be losers and maybe only 10% of their clients to make constant profits in the market while those 10% keep their volume low! If they end up trading with high volume, hedging brokers wouldn't like that.
So, if I were such a broker, I would wipe out my best clients' accounts and after a few years in the court I would finally admit that it was my mistake, give them back everything they lost and keep them out of my garden for good because I would have lost a lot more money if those clients would have traded with me day-by-day!
I am not following what you are saying. First of all if a trader enters a 100k buy eur/usd trade with their broker a broker would not hedge by selling 100k eur/usd. The trader already put the broker in a sell position by buying so if the brokers sells 100k they are doubling their short position. If a broker wanted to hedge the position or more commonly known as offset the trade they would buy 100k with one of their liquidity providers. If a broker has a client who wins more then they lose the broker would put that client on their A book. Meaning that everytime that client trades the broker would immediately offset that position with one of their liquidity providers by placing the same trade the client made. This is called offsetting their risk. Most likely the broker would still make money because they can pip the trade. Meaning that they get a better rate from their liquidity providers then what they offer the client. Therefore, if a client wins they still win. Traders that dont make money would simply not be offset and the broker stands to win much more.

I
He's talking about a bucket shop, where the trades are kept in-house and traded there instead of placed to the market.

IBFX isn't a bucketshop. It may occasionally employ some lazy tactics (esp on server management), but that's the extent to my knowledge.
Quoting mill
Please... amateur traders stay off of this forum.
And keep your anecdotal non-substantiated fairy
tales you hear from other losers off of this forum
as well. FXCM placed orders and wiped out someone's
account to the tune of half a million dollar? I think
the more likely scenario is that he was sleep trading,
has a real short term memory, or someone hacked his
account. Also, why would anyone recommend firms
in Romania, Russia, or Bulgaria when there are world-class
firms in US and UK? Huh?
Heh if you are such a expert give to us these so called world-class
firms in USA and UK ... to see them
IBFX is a very good broker.

What I like most about them is that they offer Nano-Lots (equals 100$)
Forex is a losers game.
And what do yuo thing about Alpari?I`ve read some bad things about IBXF like stophunting slippage and some others do you tarde with IBFX and how long and have you had any bad expirience with it ?
don't know alpari..

No, had no single Problem with IBFX, Trade EA's with them since 6 Months, 24/7 form Sunday to Friday..

One difference between them is that InterbankFX say that they have connected their Metatrader Platform to an ECN, are compensated only by the spread and therefore do not deal against clients positions. However, it is unclear if that is really true and what they do with the orders in the background. Maybe they do not hedge clients positions at all.

But at the end of the day that doesn't have an impact to the trader, becuase all orders are executed very fast and reliable
Forex is a losers game.
trader121 thank you for your info i really appreciate your help ;] i`ll try to find someone who trade with alpari and then i`ll choose and how is withdraw ? with IBFX i`m not from US i`m from europe ......
I'm also from Europe. Deposits and Withdrawals are absolutely no problem with IBFX.
Forex is a losers game.
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