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  • #21
  • Feb 14, 2008 6:52pm Feb 14, 2008 6:52pm
Well, I am outta here until next week Frank.. you guys that know me have my email address.. I will check email but not the forums (only so many hours in the day you know..).

As far as requotes... hmmm... how many lots are you trying to trade?? I know that some customers who trade large #'s of lots have had better luck breaking the trades down.. so rather than 100 standards, break it down into 2 x 50s or 4 25's.. that can be managed with a script if it is something you will be doing often..

See you all later!

M
  • #22
  • Feb 14, 2008 7:39pm Feb 14, 2008 7:39pm
Quoting Marilyn
Well, I am outta here until next week
M
Thanks for checking in Marilyn. I've been an InterbankFX customer for some time and like the company but recognize there is still a lot to learn. "Education is where you find it" so I'll be keeping an eye out for your posts.
  • #23
  • Feb 14, 2008 8:12pm Feb 14, 2008 8:12pm

Read FXstreetblog, Francesco is digging for answers from IBFX!!


http://weblog.fxstreet.com/2008/02/open-letter-to.html

Seems IBFX, you do nothing but lie now a day, you sleep with dogs you gona get fleas,

Remember "karma" is a funny thing!!!!
  • #24
  • Feb 14, 2008 9:27pm Feb 14, 2008 9:27pm
remember guys interbankfx has done nothing wrong with n.f.a. as far as fxlq is concern, yes they lied about dealing with fxlq thats because they knew this will hurt there business and now there paying for it, i still think interbankfx is a good company run by good people.
If I Go Broke Trying Then I Will die happy.
  • #25
  • Feb 15, 2008 5:15am Feb 15, 2008 5:15am
Honesty is always the best policy. May be IBFX could learn from that and make it their motto.
  • #26
  • Feb 15, 2008 9:33am Feb 15, 2008 9:33am
Quoting Moe
remember guys interbankfx has done nothing wrong with n.f.a. as far as fxlq is concern, yes they lied about dealing with fxlq thats because they knew this will hurt there business and now there paying for it, i still think interbankfx is a good company run by good people.

You know, if this was the first "questionable" situation that IBFX has gotten themselves into, I would surely give them the benefit of the doubt and still have trust in them as an "honest" broker.

However, I have been with them for several years and this is NOT the first time they have been caught "mis-leading" (some might call it lying) to their customers.

I truly question the ethics of the upper management at IBFX as they have constantly been caught in “iffy” situations such as this for as long as I can remember.

Perhaps the best moment was when Todd C. posted on the forum how IBFX has removed all of the marketing statements from their website which the NFA had objected to. Sure enough, these false statements were still there on their homepage even after Todd made his comments. I have screen shots of the whole thing saved on my computer. It was classic being caught with your pants down moment. LOL
  • #27
  • Feb 15, 2008 7:27pm Feb 15, 2008 7:27pm
Quoting PipStar
Honesty is always the best policy. May be IBFX could learn from that and make it their motto.
Exactly! Like Intel did sometimes ago with their floating-point flaw within their Pentium III. In case you didn't know, Intel had to set up a new division to handle its replacement---the whole bunch of them.

Like they say, "Truth hurts like a bitch!"
  • #28
  • Feb 19, 2008 4:08pm Feb 19, 2008 4:08pm
The announcement should be: "we obtain best bids from multiple banks but give our customers same fixed spreads"

I have been with IBFX for a while now and do not trade the news. I never had execution issues here.
Now, spreads is a different issue, and has gone worse over time.

I don't see any advantage in pricing for customer as the announcement implies. If prices are obtained from multiple banks then spreads should vary. However, spreads are fixed here all the time. Also, the as low as 2pips is only on the EUR/USD pair and thats the only pair you will get it at.
  • #29
  • Feb 20, 2008 4:55am Feb 20, 2008 4:55am
Well here is my report card on InterbankFX. I had pulled my funds out long time ago but recently I decided to fund one of my accounts with them with a small amount to test them out. Here is:
- A buy order was triggered a long way from price on a very small piece of news (spread widening) - it was needless on this occasion as there was no major news
- There is a delay of about 3-4 seconds when you click on Buy or Sell when you get message that the order is being executed only for you to get a requote; you accept and get another requote. (same happens also with FXDD broker)
- There is a delay of about 4-5 seconds when you click to close an order; again requote. If the market keeps moving the position will not close. (same happens also with FXDD broker)
I cannot help but think about that broker's Virtual Dealer Plug-In. Needless to say, I will soon pull out my small portion of funds.
  • #30
  • Feb 20, 2008 5:45am Feb 20, 2008 5:45am
Quoting Moe
interbankfx is a good company run by good people.
I sincerely think you're grossly mistaken my friend.
  • #31
  • Feb 20, 2008 9:00am Feb 20, 2008 9:00am
Quoting forexmoments
I sincerely think you're grossly mistaken my friend.
lol, i never had a problem, i guess for some it depends on your trading style, im a position/swing trader that shoots for 100+ pips per trade. all is good for me.
If I Go Broke Trying Then I Will die happy.
  • #32
  • Feb 20, 2008 9:27am Feb 20, 2008 9:27am
Anyone else notice orders at news time get "Invalid Price" or "Off Quotes" errors now?

In the past, you were usually filled, filled and slipped, or re-quoted. We now have this other errors showing all the time. I wonder if they are now using that Evil Broker Plugin?


(this all started about 2 weeks ago)
  • #33
  • Feb 20, 2008 12:13pm Feb 20, 2008 12:13pm
Having several accounts with IBFX, I agree with both Frank and Moe. My EA's trade about the same as always. I have noticed a change during fast moving market times, with the type of message I get when I try to place an order. It seems to me it started more than two weeks ago. It does not bother me because I seldom trade around news time and if I do it is only for fun with micro lots. I would say the 'invalid price' message has saved me money compared to some of the previous fills. Over all I don't have any real complaints the rest of the day. I could gripe about a few of the spreads but that's a problem with many MT4 brokers.
  • #34
  • Feb 20, 2008 6:41pm Feb 20, 2008 6:41pm
Quoting nvwine
Having several accounts with IBFX, I agree with both Frank and Moe. My EA's trade about the same as always. I have noticed a change during fast moving market times, with the type of message I get when I try to place an order. It seems to me it started more than two weeks ago. It does not bother me because I seldom trade around news time and if I do it is only for fun with micro lots. I would say the 'invalid price' message has saved me money compared to some of the previous fills. Over all I don't have any real complaints the rest of the day. I could gripe about a few of the spreads but that's a problem with many MT4 brokers.
This is good to hear. I was beginning to think I was the only one NOT having serious problems with IBFX. I have yet to see a requote or slippage on my live account, but that's most likely because I am a small position trader and avoid the news like the plage. Just the same, I keep close watch on my open positions when price approaches key areas.

Positive news is so refreshing! Thanks guys,
  • #35
  • Feb 21, 2008 7:47pm Feb 21, 2008 7:47pm
Quoting FrankTheTank
Anyone else notice orders at news time get "Invalid Price" or "Off Quotes" errors now?

In the past, you were usually filled, filled and slipped, or re-quoted. We now have this other errors showing all the time. I wonder if they are now using that Evil Broker Plugin?


(this all started about 2 weeks ago)
IBFX has had great spreads and fills for the last few months. Then like you said a couple weeks ago my orders started hanging. Sometimes pending for 60 seconds before the price comes back way beyond my deviation and gives me the "Off Quote" message.

Marilyn I would really appreciate an honest answer from someone at IBFX as to why and how orders are being delayed. I tried customer support but they claimed to not know what an off quote was.
  • #36
  • Feb 22, 2008 9:12am Feb 22, 2008 9:12am
Glad to hear I am not the only one. I doubt we will get the truth, but, something happened to order execution starting around the second week in February.
  • #37
  • Feb 25, 2008 4:04am Feb 25, 2008 4:04am
price freeze just now for 20minutes and not the first time this month
  • #38
  • Feb 25, 2008 4:44pm Feb 25, 2008 4:44pm
Quoting Moe
lol, i never had a problem, guess for some it depends on your trading style, im a position/swing trader that shoots for 100+ pips per trade. all is good for me.
I have a couple of live accounts over at IBFX. I'm not saying that I don't trade with them, but what I'm saying is they have problems which need to be addressed.

Now look at this "multi bank feed" crap they've come out with. Oh, and we still get a 2 pip Euro? Bollocks.
  • #39
  • Feb 25, 2008 5:05pm Feb 25, 2008 5:05pm
Quoting forexmoments
I have a couple of live accounts over at IBFX. I'm not saying that I don't trade with them, but what I'm saying is they have problems which need to be addressed.

Now look at this "multi bank feed" crap they've come out with. Oh, and we still get a 2 pip Euro? Bollocks.
If I Go Broke Trying Then I Will die happy.
  • #40
  • Feb 25, 2008 5:18pm Feb 25, 2008 5:18pm
Quoting forexmoments
I have a couple of live accounts over at IBFX. I'm not saying that I don't trade with them, but what I'm saying is they have problems which need to be addressed.

Now look at this "multi bank feed" crap they've come out with. Oh, and we still get a 2 pip Euro? Bollocks.
Actually, this is a great thing they have done for people who have a real feed with a real broker, and not a dealer, because what they are saying that they are creating a synthetic price, based on several feeds. This opens lots of opportunity to trade their slower and sythetic price while looking at the faster real price feed. This is one of the inherent problems that market makers face and there really is not much they can do about it. One can really pick them off, if they are going to export prices this way. It is not so good if you are trying to get out of a trade, having to wait for the price to catch up, but it is free money for entrys.
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