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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?

Quoting fxpip8
Hi Abigail

Hope you don't mind to review your position in IBFX?
BTW do you now have offices in Australia, Malaysia or Singapore for registration?

Thanks
FXpip8,
Absolutely. I handle all Global PR and Social Media at Interbank FX. So, the long and short of it... I try to keep you all in the loop with the in's and out's of our current happenings. Hope that helps!

Also, we do have plans to open an Australian office (along with UK), but no set time frame yet. As always, we'll let you know.
Quoting Abigail
FXpip8,
Absolutely. I handle all Global PR and Social Media at Interbank FX. So, the long and short of it... I try to keep you all in the loop with the in's and out's of our current happenings. Hope that helps!

Also, we do have plans to open an Australian office (along with UK), but no set time frame yet. As always, we'll let you know.
Just got an email from IBFX:
We are discontinuing intraday hedging at the end of the week. Once the market closes on Friday all intraday hedges will be netted out. On Sundays open no hedging will be allowed.
IBFX Team

Can you explain what is the reason for this?
probably too tedious/expensive to maintain or figure out.
Quoting BearPaw
probably too tedious/expensive to maintain or figure out.
Hey Mario/BearPaw,

We actually found that intraday hedging was causing confusion for some of our customers. IBFX UK Ltd. is currently applying with the FSA and will be able to offer full hedging when approved.
Anyone currently using IB have probs with re-quotes? I started with MB from jump street and are the only brokers I've ever had and I do recommend them. How does the requote process go down? Do they tell you the trade you thought you won was in fact a loser? Do they skim a few pips off your wins? Sometimes I wish I would have struggled more with brokers so I'd know this stuff, but all I do is read charts.
Quoting Max Thrax
Anyone currently using IB have probs with re-quotes? I started with MB from jump street and are the only brokers I've ever had and I do recommend them. How does the requote process go down? Do they tell you the trade you thought you won was in fact a loser? Do they skim a few pips off your wins? Sometimes I wish I would have struggled more with brokers so I'd know this stuff, but all I do is read charts.
Your system tries to place an order and instead of getting "filled" - You get a "Requote". The order isnt placed and on some systems it can be seconds to minutes before you get the reject signal. VERY FRUSTRATING!! - Sometimes you can get multiple "Requotes" before the order is placed. - Same can happen when trying to close an order.
  • Post #147
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  • Edited Mar 19, 2010 7:29pm Mar 18, 2010 9:15pm | Edited Mar 19, 2010 7:29pm
Quoting Abigail
Hey Mario/BearPaw,

We actually found that intraday hedging was causing confusion for some of our customers. IBFX UK Ltd. is currently applying with the FSA and will be able to offer full hedging when approved.
I bet! - I can imagine that support was getting a LOT of angry emails from people who didnt beat the deadline, dont understand hedging or other reason - that were screaming that positions were deleted/merged. - I might give you guys a shot when UK becomes active (at least a Live test vs GO Markets). The request to kill it prob came from abused customer support people.
Quoting Aja
Your system tries to place an order and instead of getting "filled" - You get a "Requote". The order isnt placed and on some systems it can be seconds to minutes before you get the reject signal. VERY FRUSTRATING!! - Sometimes you can get multiple "Requotes" before the order is placed. - Same can happen when trying to close an order.
That would pretty much destroy what I do. Thanx. Does this happen with IB often?
Quoting Max Thrax
That would pretty much destroy what I do. Thanx. Does this happen with IB often?
Gotta be careful when using the term IB as it is commonly used to refer to another broker called Interactive Brokers. I guess you are refering to IBFX which is InterbankFX. Although I understand what you mean, it's better not to make any confusion.
Hi Abigail,

Will IBFX UK Ltd. be offering the same service & type of accounts as you currently have in the US. I'm enquiring about mini accounts with lot sizes starting at 0.01 (1cent (penny) = 1pip ) & increments of 0.01 in particular?

Secondly, will current customers (from the UK/Europe) be able to transfer their accounts over to the UK branch once it opens for business?

Cheers

Flint
Hi FlintFX,

We're currently undecided about mini lots being offered in the UK. In the next few weeks we'll have many more answers for you as we're approaching the final stages with the FSA.

In terms of customers having the ability to transfer their accounts over to the UK, they will have to open a new account in the UK. However-- we're working on building in data-sharing agreements that will allow customers some flexibility in transferring their info over. Sorry I don't have more concrete answers for you at this time, but I hope to soon.
Don't hold your breath guys, all this could be several months away. It is not normally a short process so I would advise opening an account with another broker until this is sorted out.
Abigail,

Please offer micro accounts in the UK. Other mt4 UK brokerages do...

Please offer leverage higher than 200%... Other mt4 UK brokerages do...

These are the only reasons I would keep my accounts with you. Otherwise I would just keep my money with the 4 offshore mt4 brokerages that I have started accounts with...even though I liked you much better.

BearPaw
Quoting PipStar
Don't hold your breath guys, all this could be several months away. It is not normally a short process so I would advise opening an account with another broker until this is sorted out.
I agree PipStar
Quoting PipStar
Don't hold your breath guys, all this could be several months away. It is not normally a short process so I would advise opening an account with another broker until this is sorted out.
You dont want to be there as they work out the bugs. Find another broker till open 6 months.
On a short note, Interbank FX so far exclusively offers penny trades for the beginner to learn and trade 2,000 times with quarter stops. Why 2,000 times you ask? The average trader reportedly loses $15,000. It's as close to paper trading as possible while providing a low risk, low stress approach to learn and practice. For over 200 trades now, I see almost the same Twilight Zone pattern every trade, I hit the order button, place the trade, the platform makes that door-slam-shut guillotine sound, the market comes to a screeching halt, and either reverses or makes a support-resistance pivot out of my fill price.
Quoting jgray110
On a short note, Interbank FX so far exclusively offers penny trades for the beginner to learn and trade 2,000 times with quarter stops. Why 2,000 times you ask? The average trader reportedly loses $15,000. It's as close to paper trading as possible while providing a low risk, low stress approach to learn and practice. For over 200 trades now, I see almost the same Twilight Zone pattern every trade, I hit the order button, place the trade, the platform makes that door-slam-shut guillotine sound, the market comes to a screeching halt, and either...
Why quarter stops is the question.
anyone tried withdrawing with IBFX?? are they genuine all the way?>?
Quoting EdgarNg
anyone tried withdrawing with IBFX?? are they genuine all the way?>?
The trading conditions suck but they are one of the best deposit/withdrawal shops in forex. Wires usually get sent the same day. Put in a request early and it'll be in your bank account by days end.
Hi Abigail,

thank you for your response, much appreciated.

I am unable to find a UK broker that offers what IBFX currently have. If your UK branch launches without min account option then it will have less of a unique selling point to what is already on offer in the UK retail market.

I wait in hope & will monitor your progress updates.

all the best,

Flint
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