Interbankfx platform gets frozen.

What I find odd is sometimes the spread will vary from position to position.

For example, sometimes I gradually enter into a position. So, I might buy EUR/CHF at 1.6100, and again at 1.6125......

More than once I have seen where one will stay the same rate of return, for example +15 pips, while the other flickers back and forth from 9 to 10.....or whatever. Odd how one order can have one price, and the other jumps a bit.

It's never for long, but it does happen.

I have never traded with anyone beyond IBFX and GFT. IBFX is alright, but to be honest, I am sure there have to be better brokers out there.

I did demo RFXT (Royal Forex) and they are supposed to be the same model basically as IBFX....they were a lot worse, as the spreads jump around almost non-stop. I suspect if you were a longer term trader, it would matter....but I didn't see anything impressive about them at all.

For what it's worth, I have never heard a good thing about ODL.

Clockwork

Well it's freezing again, but news was over an hour ago... it's just the high load that's causing this. They need to expand their server farm apparently, maybe a failover cluster or something similar.

i am dumping IBFX. many times i try to open or close a position and, conveniently, there is a delay that works in the favor of IBFX before the order is filled. sometimes as long as 3-5 seconds. and how about those requotes? as noted, spreads during news time are obscene. and the regular spreads are pretty bad as well (5 pips for the COMDOLLS, 9 for GJ)..

the best thing i can say for IBFX is that you become a better trader by having to deal with the large spreads. i almost want to stay on with them a bit longer just to really build up those trading muscles.. after some research i decided to go with ODL securities (maybe best spreads for MT4). i will eventually move to an ECN.

Have you thought of trading with MBTrading? I am with Interbank Fx and ditto everything you say. The 9 pip spread on g/j is a killer...I am almost always requoted...not in my favor and the platform always freezes conveniently in their favor...

Right now I'm only in demo with IBFX, but the requotes and delays are terrible. I'm trying to get to "like" the OandA platform, but I'm also looking at ODL to go live with.

i do have an account with MB trading. honestly, i got scared when i saw that stuff about capitalization a while back and withdrew my money.. also i had some stop orders on demo that did not get executed. not sure if that would happen with the real account, but it left me a little scared..

ODL has 6 pips on GJ, 2 for UJ EU, 3 for every other pair i trade. i also put limit orders in around news time and have made good trades that way, which i don't think i could do without MT4.

then how about your stop orders around news time?

i do not use stop orders around news time. just limits. for example, if i wanted to short the euro anyway, i would place a limit order to sell 30 pips or so above current price to get in on the news spike. usually news will give you spikes in both directions and if you already have a bias you can capitalize on the extreme price.

So you are saying that ODL is alright?

I just found this:

" NFA orders ODL Securities, Inc. and its principal to pay a fine of $165,000

September 26, Chicago - National Futures Association (NFA) has ordered ODL Securities, Inc. (ODL) and its principal, Brian P. King, to jointly pay a fine of $165,000. ODL is a Futures Commission Merchant and Forex Dealer Member located in Chicago, Illinois. Raymond A. Dubuque, an associated person of ODL, was also fined $3,000 and ordered to tape record all conversations with existing or potential customers for a period of one year. The Decision, issued by an NFA Hearing Panel, is based on a Complaint filed in March 2007, and a settlement offer submitted by ODL, King and Dubuque.

The Panel found that ODL and Dubuque made misleading and deceptive statements in the solicitation of foreign currency (forex) customers. In addition, the Panel found that ODL failed to take applicable concentration charges on transactions with certain forex counterparties, and failed to maintain adjusted net capital. The Panel also found that ODL failed to implement enhanced supervisory procedures, maintain adequate books and records, and file financial statements within a timely manner. Finally, the Panel found that ODL and King failed to adequately supervise ODL's activities.

NFA is the premier independent provider of innovative and efficient regulatory programs that safeguard the integrity of the derivatives markets."

i dont care about their sales tactics. now you have me worried about the capitalization though.

The report on the NFA website gives you a good idea about how much they have, and on that other thread it appears they have quite a number of liquidity providers. I don't see any reason to worry about their financial status, just don't put all of your eggs in a single basket and keep your account size at a manageable risk level... that way if something does happen, well, you know.

Just irritating that in their attempts to squeeze out news traders they've allowed their servers to be a bit overloaded.

If the've squeezed out news traders, how can their servers become overloaded as a result? A lot of news traders and even TA traders I know have left as a result of their huge spreads; to me thats less clients and less stress on their servers. It just doesnt add up.

It is certainly less stress, but if you don't keep the server farm supplied for those bursty moments... it's going to make them even worse, chasing off those that'd be willing to accept a higher spread.

It just seems that they're a bit overloaded at times. Mostly this seems to happen around news events.

Can anyone explain me how this broker could get any award? lol

Well, outside of news or high volume times... I haven't had any problems. I guess if you're not a scalper or a news trader and just trading the trend or using the H4/D1 ... I doubt there'd be any problem.