Should a trader trust IBFX? | Forex Factory

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Should a trader trust IBFX?

  • #1
  • First Post: Apr 1, 2008 7:30am Apr 1, 2008 7:30am
I am really beginning to doubt them....for the past 30 minutes the feed for gbp/jpy was, in the words of an IBFX employee who answered the phone, "stuck". I know as I was watching on GFT. Isn't that way scary when one places their trust in a broker for your live acct.?
  • #2
  • Apr 1, 2008 2:44pm Apr 1, 2008 2:44pm
Quoting joiedevivre
I am really beginning to doubt them....for the past 30 minutes the feed for gbp/jpy was, in the words of an IBFX employee who answered the phone, "stuck". I know as I was watching on GFT. Isn't that way scary when one places their trust in a broker for your live acct.?
Unfortunately, it's hard to find a broker that on their game 365/24/7, but there has definitely been an influx of complaints with IBFX.

I had a few traders tell me about that "stuck" position as well -- 30 minutes is a bit bizarre IMO.

Never keep all your eggs in one basket.
  • #3
  • Apr 1, 2008 9:11pm Apr 1, 2008 9:11pm
i dont know about anyone else but i've been unable to connect to the ibfx demo server for over 24 hours now. cost me about 300 pips off the top of some profitable positions that i SHOULD have been able to close

grrr

at least its demo pips
  • #4
  • Apr 1, 2008 9:53pm Apr 1, 2008 9:53pm
Quoting JDelphiki
i dont know about anyone else but i've been unable to connect to the ibfx demo server for over 24 hours now. cost me about 300 pips off the top of some profitable positions that i SHOULD have been able to close

grrr

at least its demo pips
Don't worry, you're not alone. I haven't been able to connect either.

Thankfully it's only a demo, but outages are quite frequent and annoying enough that I don't trust them to have a stable and reliable platform when real pips are on the line.
  • #5
  • Apr 3, 2008 4:11pm Apr 3, 2008 4:11pm
Had a very sweet ibfx demo account running different things to try out. Monday evening, it went down around the usual time in late PM here, 4-5 ish CST for what they call "resetting". It did NOT come back up tho. I called after a couple hours and was told "They" are doing maintenance."

OK. The next day I called again, and asked if we needed to start using the word "REPAIR" instead of maintenance. The help desk agreed that would be a better word.

The short version; the demo server is broke, apparently beyond repair, all is lost, and if you want to start a new demo acct, if you get no ping on the server when you try to open a new one, then you will have to totally un-install the old ibfx program and reload it. That's a summary of what they told me yesterday, Wednesday the 2nd. All transactions and data from old demos are history and not recoverable unless you had a statement saved before the crash. Oh well.

My only question is "Why am I not surprised??" My live account was never affected (this time, but has not always been the case), but I did get a little anxious.

Been with them nearly a year now, and I'd say the trend is down...
FUBAR...
  • #6
  • Apr 3, 2008 4:30pm Apr 3, 2008 4:30pm
Quoting ak4x
Had a very sweet ibfx demo account running different things to try out. Monday evening, it went down around the usual time in late PM here, 4-5 ish CST for what they call "resetting". It did NOT come back up tho. I called after a couple hours and was told "They" are doing maintenance."

OK. The next day I called again, and asked if we needed to start using the word "REPAIR" instead of maintenance. The help desk agreed that would be a better word.

The short version; the demo server is broke, apparently beyond repair, all is lost, and if you want to start a new demo acct, if you get no ping on the server when you try to open a new one, then you will have to totally un-install the old ibfx program and reload it. That's a summary of what they told me yesterday, Wednesday the 2nd. All transactions and data from old demos are history and not recoverable unless you had a statement saved before the crash. Oh well.

My only question is "Why am I not surprised??" My live account was never affected (this time, but has not always been the case), but I did get a little anxious.

Been with them nearly a year now, and I'd say the trend is down...
All you need to do is copy a new server file over to the old MT4 of IBFX or any MT4 for that matter. Then all of your indicators and settings and EAs will be preserved

I will get the name of the files and post them in a minute. It is really quite easy... I live in SLC so I actually went over to the ibfx office and spoke with them in person. The problem is that they are getting overloaded with demo accounts. Their live servers did not have any problems at all.

EDIT: the files you want are appended with a srv. They are located in the config folder of the IBFX main folder in the Program Files folder of MS
  • #7
  • Apr 3, 2008 8:13pm Apr 3, 2008 8:13pm
On my live IBFX account, I was doing really well, until one day, there were 2 mysterious trades with no s/l or t/p. And they were bought at the very top of the peak (I mean it, to the very pip). I know some might say its because of an EA that I may not have removed, but I had no indicators or EAs in my MT4 folder, just so that I can prevent something like this from happening. Yet this happened. I was really furious, I lost 3 weeks of profits in just 2 *^&%$(* trades!!!

I called IBFX and asked them to identify the IP address of the trades, and they gave me my IP. I can bet my life, there was no way anyone could have executed those trades on my PC at that particular date.

******** I tell you!! $4K down the drain.

edit: On second thoughts, I will censor this just for FF.
  • #8
  • Apr 4, 2008 4:00am Apr 4, 2008 4:00am
Quote
I will get the name of the files and post them in a minute. It is really quite easy... I live in SLC so I actually went over to the ibfx office and spoke with them in person. The problem is that they are getting overloaded with demo accounts. Their live servers did not have any problems at all.

Explains a lot, been saying they need to add to their server farm.

I used to live by the Univ of Utah off 13th east. Nice town, family's from the midwest tho and ended up moving back here.
  • #9
  • Apr 4, 2008 5:43am Apr 4, 2008 5:43am
Quoting Rabid
Explains a lot, been saying they need to add to their server farm.

I used to live by the Univ of Utah off 13th east. Nice town, family's from the midwest tho and ended up moving back here.
LOL My degree is from the University of Utah. I love those homes in the area. I grew up on the Avenues, myself.
  • #10
  • Apr 4, 2008 7:09am Apr 4, 2008 7:09am
Quoting mazdaz
On my live IBFX account, I was doing really well, until one day, there were 2 mysterious trades with no s/l or t/p. And they were bought at the very top of the peak (I mean it, to the very pip). I know some might say its because of an EA that I may not have removed, but I had no indicators or EAs in my MT4 folder, just so that I can prevent something like this from happening. Yet this happened. I was really furious, I lost 3 weeks of profits in just 2 *^&%$(* trades!!!

I called IBFX and asked them to identify the IP address of the trades, and they gave me my IP. I can bet my life, there was no way anyone could have executed those trades on my PC at that particular date.

******** I tell you!! $4K down the drain.

edit: On second thoughts, I will censor this just for FF.
i would call them, and demand to give me my money back..and be fck MAD,...cmn, u have been roobed..
its just money
  • #11
  • May 12, 2008 8:21pm May 12, 2008 8:21pm
Quoting de123
i would call them, and demand to give me my money back..and be fck MAD,...cmn, u have been roobed..
How come these horror stories only happen to losers? Huh? It really makes me wonder and then laugh out loud.
  • #12
  • May 13, 2008 8:55am May 13, 2008 8:55am
because they want to reach soon
  • #13
  • May 13, 2008 1:41pm May 13, 2008 1:41pm
Agree with the poster who said never place all your money in 1 broker. Trust no-one.
  • #14
  • Nov 10, 2008 10:57am Nov 10, 2008 10:57am
Quoting mazdaz
On my live IBFX account, I was doing really well, until one day, there were 2 mysterious trades with no s/l or t/p. And they were bought at the very top of the peak (I mean it, to the very pip). I know some might say its because of an EA that I may not have removed, but I had no indicators or EAs in my MT4 folder, just so that I can prevent something like this from happening. Yet this happened. I was really furious, I lost 3 weeks of profits in just 2 *^&%$(* trades!!!

I called IBFX and asked them to identify the IP address of the trades, and they gave me my IP. I can bet my life, there was no way anyone could have executed those trades on my PC at that particular date.

******** I tell you!!...
What is this !!!!!!
  • #15
  • Nov 10, 2008 12:10pm Nov 10, 2008 12:10pm
Hi all,

I am also frustrated with their EUR/JPY spread. Since the recent economic crash the EUR/JPY spread is not stable most of the time. At the beginning it could be understandable because the market was so hot and volatile but why it doesn't get back to normal now? Sometimes it goes up to 13 pips. It was used to be like that in the past but for a very limited time. It is more than two weeks now that they have this problem. It goes up and down all the time. I am thinking about another broker because EUR/JPY is my favoriate pair and I don't like to trade any other currency pair.

Regards,
Vahid
  • #16
  • Nov 10, 2008 1:59pm Nov 10, 2008 1:59pm
EUR/JPY is one of my favorites too. I've been noticing the same erratic spreads but I'm on demo so I've never bothered to look further in to it.

Vahid, if you're trading live with IBFX you should consider calling them and asking why this is happening only with E/J and not other pairs. (at least I haven't noticed it on other pairs)

Please keep us posted one way or the other. Thanks.
  • #17
  • Nov 10, 2008 2:33pm Nov 10, 2008 2:33pm
Quoting opie999
EUR/JPY is one of my favorites too. I've been noticing the same erratic spreads but I'm on demo so I've never bothered to look further in to it.

Vahid, if you're trading live with IBFX you should consider calling them and asking why this is happening only with E/J and not other pairs. (at least I haven't noticed it on other pairs)

Please keep us posted one way or the other. Thanks.
This is their answer:

" Client Services 80: Hello, How may I help you?
Vahid: Hi
Vahid: I have a question
Client Services 80: sure
Vahid: Why only the Eur/Jpy spread is not stable and changes most of the time and the other currency pairs are stable???
Client Services 80: It can depend a lot on how many people trade that currency pair. You will see that the spread for less popular pairs is greater because there's not as much liquidity to trade the pairs.
Client Services 80: News announcements and market volatility can affect the spread and cause it to be wider than normal.
Vahid: but it is more than two weeks that Eur/Jpy has lost its stability and goes over 18 pips sometimes.
Vahid: why doesn't become like it was used to be before?
Vahid: it was not like that.
Client Services 80: I see the eur/jpy as currently having a spread of 4.
Vahid: currently yes
Vahid: but it changes all the time
Vahid: and only Eur/Jpy is like that. All the others are stable.
Client Services 80: During slower trading times you may see that the spread can widen, because that pair is not as commonly traded as others, thus providing less liquidity.
Vahid: ok thanks
Vahid: Bye "

I don't think that Eur/Jpy is not a popular pair. I think it is so popular.

They just have a standard answer to copy and paste.
  • #18
  • Last Post: Nov 10, 2008 8:54pm Nov 10, 2008 8:54pm
I agree. Sounds like bull$h!t to me.
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