Is InterBank Fx Is Another Growing Broker?? | Forex Factory

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Is InterBank Fx Is Another Growing Broker??

  • Poll

  • Do You Think Ibfx is Another Growing borker & Another good Choice For me?
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  • #1
  • First Post: May 30, 2008 12:07pm May 30, 2008 12:07pm
I was woundering that Is InterBankFx is another Growing Broker??
I saw lot of it's customers here in FF & Also in another farum's. Seems everyone is satisfied with this Mt4 Broker. I think this is another good choice for me??
PipHacker.
  • #2
  • May 30, 2008 1:22pm May 30, 2008 1:22pm
Out of all the "bucketshop" MT4 brokers, I am happiest with IBFX and feel safest having my funds with them. Granted, thats not saying much because I prefer MBT and other more legit brokers overall.

If you must use MT4 as your trading platform, then IBFX would certainly be a decent choice.
  • #3
  • May 30, 2008 3:18pm May 30, 2008 3:18pm
Very Interesting Section in the Mail IBFX has sent out today:

IF INTERBANK FX, LLC ELECTS NOT TO COVER ITS OWN TRADING EXPOSURE, THEN YOU SHOULD BE AWARE THAT INTERBANK FX, LLC MAY MAKE MORE MONEY IF THE MARKET GOES AGAINST YOU. ADDITIONALLY, SINCE INTERBANK FX, LLC ACTS AS THE BUYER OR SELLER IN THE TRANSACTION, YOU SHOULD CAREFULLY EVALUATE ANY TRADE RECOMMENDATIONS YOU RECEIVE FROM INTERBANK FX, LLC OR ANY OF ITS SOLICITORS.
- The IBFX Team
Forex is a losers game.
  • #4
  • May 30, 2008 3:35pm May 30, 2008 3:35pm
Other than their high spreads I have no problem with them.
  • #5
  • May 30, 2008 5:32pm May 30, 2008 5:32pm
Quoting trader121
Very Interesting Section in the Mail IBFX has sent out today:

IF INTERBANK FX, LLC ELECTS NOT TO COVER ITS OWN TRADING EXPOSURE, THEN YOU SHOULD BE AWARE THAT INTERBANK FX, LLC MAY MAKE MORE MONEY IF THE MARKET GOES AGAINST YOU. ADDITIONALLY, SINCE INTERBANK FX, LLC ACTS AS THE BUYER OR SELLER IN THE TRANSACTION, YOU SHOULD CAREFULLY EVALUATE ANY TRADE RECOMMENDATIONS YOU RECEIVE FROM INTERBANK FX, LLC OR ANY OF ITS SOLICITORS.
- The IBFX Team
What is the timestamp on that?
  • #6
  • May 30, 2008 6:08pm May 30, 2008 6:08pm
Quoting trader121
Very Interesting Section in the Mail IBFX has sent out today:

IF INTERBANK FX, LLC ELECTS NOT TO COVER ITS OWN TRADING EXPOSURE, THEN YOU SHOULD BE AWARE THAT INTERBANK FX, LLC MAY MAKE MORE MONEY IF THE MARKET GOES AGAINST YOU. ADDITIONALLY, SINCE INTERBANK FX, LLC ACTS AS THE BUYER OR SELLER IN THE TRANSACTION, YOU SHOULD CAREFULLY EVALUATE ANY TRADE RECOMMENDATIONS YOU RECEIVE FROM INTERBANK FX, LLC OR ANY OF ITS SOLICITORS.
- The IBFX Team
I could not find this email in the mail folder. when did it come in. I have never seen them use only upper case either.
  • #7
  • May 30, 2008 6:15pm May 30, 2008 6:15pm
Quoting smjones
I could not find this email in the mail folder. when did it come in. I have never seen them use only upper case either.
I received an email which contained the quote around noon PDT today May 30th. It was normal email not platform mail.
  • #8
  • May 30, 2008 6:18pm May 30, 2008 6:18pm
Quoting nvwine
I received an email which contained the quote around noon PDT today May 30th. It was normal email not platform mail.
Ok thanks, I will go look in my spam folder of my email account. A strange email to say the least.
  • #9
  • May 30, 2008 9:31pm May 30, 2008 9:31pm
Quoting trader121
Very Interesting Section in the Mail IBFX has sent out today:
IF INTERBANK FX, LLC ELECTS NOT TO COVER ITS OWN TRADING EXPOSURE, THEN YOU SHOULD BE AWARE THAT INTERBANK FX, LLC MAY MAKE MORE MONEY IF THE MARKET GOES AGAINST YOU. ADDITIONALLY, SINCE INTERBANK FX, LLC ACTS AS THE BUYER OR SELLER IN THE TRANSACTION, YOU SHOULD CAREFULLY EVALUATE ANY TRADE RECOMMENDATIONS YOU RECEIVE FROM INTERBANK FX, LLC OR ANY OF ITS SOLICITORS.
- The IBFX Team
This is just part of an email that they sent for NFA compliance. There is nothing new there, it has been so all along. All bucketshops brokers trade against their clients, not just IBFX. You can add to the list all existing metatrader brokers as well as the majority of the others with different platforms. I think that IBFX is becoming more transparent and honest about this whereas the other brokers just keep quiet.
  • #10
  • May 30, 2008 9:53pm May 30, 2008 9:53pm
Quoting smjones
I could not find this email in the mail folder. when did it come in. I have never seen them use only upper case either.
this is the whole email i got from them. i erase my name.

Dear,

Interbank FX is a registered Futures Commission Merchant and is regulated by both the National Futures Association (NFA) and the Commodities Futures Trading Commission (CFTC). As part of the NFA's ongoing requirements, Interbank FX is required to provide customers with information regarding the NFA's Background Affiliation Status Information Center (BASIC System) and our firms Privacy Policy on an annual basis.

To learn more about the NFA BASIC System, you may visit the following website:

http://www.nfa.futures.org/investor/basic/basic.pdf

INTERBANK FX, LLC - PRIVACY NOTICE

The Commodity Futures Trading Commission approved regulations that impose various requirements on financial institutions' treatment of customer information. The regulations require that financial institutions develop privacy policies and disclose these policies to its customers.

Interbank FX ("Interbank") considers your privacy one of our utmost concerns. This Privacy Notice outlines our current policies and practices regarding how information about individual customers is collected and used. We will send existing customers an updated Privacy Notice on an annual basis.

In order to provide you with individualized service, Interbank collects information about you from your account application and other forms that you may deliver to us. This information included name, address, nationality, employment information, and financial and investment qualifications. Interbank also collects information about your transactions with Interbank and its affiliates. We use this information to open an account for you, process your requests and transactions and to provide you with additional information about our products and services. In order to service your account, effect your transactions and mail correspondence to you, we provide your personal information to other independent firms that specialize in providing these services.

These include our foreign exchange counter parties and our printing and mailing vendors. We require these other independent firms to protect the confidentiality of your information and to use the information only for the purpose for which the disclosure is made. We do not disclose any nonpublic personal information about our customers to other independent firms, organizations or individuals except in furtherance of our business relationship with you, or as otherwise permitted or required by law.

If you decide at some point to close your Interbank account, we will continue to adhere to the privacy policies and practices described in this notice.
We restrict access to nonpublic personal information about you to those employees who need to know that information to provide products or services to you. We maintain physical, electronic and procedural safeguards that comply with federal standards to guard your personal information.

If you have any questions or concerns regarding the privacy of your information at Interbank, please contact us at 1-866-468-3739, Monday through Friday, between the hours of 8 a.m. and 5 p.m. Mountain Standard Time.

THE FOREIGN CURRENCY TRADING YOU ARE ENTERING INTO IS NOT CONDUCTED ON AN EXCHANGE. INTERBANK FX, LLC IS ACTING AS A COUNTERPARTY IN THESE TRANSACTIONS AND, THEREFORE, ACTS AS THE BUYER WHEN YOU SELL AND THE SELLER WHEN YOU BUY. AS A RESULT, INTERBANK FX, LLC'S INTERESTS MAY BE IN CONFLICT WITH YOURS. UNLESS OTHERWISE SPECIFIED IN YOUR WRITTEN AGREEMENT OR OTHER WRITTEN DOCUMENTS INTERBANK FX, LLC ESTABLISHES THE PRICES AT WHICH IT OFFERS TO TRADE WITH YOU. THE PRICES INTERBANK FX, LLC OFFERS MIGHT NOT BE THE BEST PRICES AVAILABLE AND INTERBANK FX, LLC MAY OFFER DIFFERENT PRICES TO DIFFERENT CUSTOMERS.
IF INTERBANK FX, LLC ELECTS NOT TO COVER ITS OWN TRADING EXPOSURE, THEN YOU SHOULD BE AWARE THAT INTERBANK FX, LLC MAY MAKE MORE MONEY IF THE MARKET GOES AGAINST YOU. ADDITIONALLY, SINCE INTERBANK FX, LLC ACTS AS THE BUYER OR SELLER IN THE TRANSACTION, YOU SHOULD CAREFULLY EVALUATE ANY TRADE RECOMMENDATIONS YOU RECEIVE FROM INTERBANK FX, LLC OR ANY OF ITS SOLICITORS.

- The IBFX Team
If I Go Broke Trying Then I Will die happy.
  • #11
  • May 30, 2008 10:02pm May 30, 2008 10:02pm
i don't care how interbankfx run there business they have never screw me as a client, the only problem i have is that i can no longer trade 10mill per click they drop it down to 5mill per click, other then that every thing has been good with them.
If I Go Broke Trying Then I Will die happy.
  • #12
  • May 31, 2008 12:22am May 31, 2008 12:22am
I have been using InterbankFx for 2 years. You get requotes once in a while but they have been fine. I may use an ECN in the near future.
  • #13
  • May 31, 2008 12:29am May 31, 2008 12:29am
Quoting cjd
I have been using InterbankFx for 2 years. You get requotes once in a while but they have been fine. I may use an ECN in the near future.
I think requote problem might be cause of your connection i guess?
  • #14
  • May 31, 2008 1:02am May 31, 2008 1:02am
what about their say goodbye trading against your brokers dealing desk advertice.. ??
StopLoss is for none belivers... Trust the Gurus..
  • #15
  • May 31, 2008 8:37am May 31, 2008 8:37am
Quoting Moe
this is the whole email i got from them. i erase my name.

Dear,

Interbank FX is a registered Futures Commission Merchant and is regulated by both the National Futures Association (NFA) and the Commodities Futures Trading Commission (CFTC). As part of the NFA's ongoing requirements, Interbank FX is required to provide customers with information regarding the NFA's Background Affiliation Status Information Center (BASIC System) and our firms Privacy Policy on an annual basis.

To learn more about the NFA BASIC System, you may visit the following website:

http://www.nfa.futures.org/investor/basic/basic.pdf

INTERBANK FX, LLC - PRIVACY NOTICE

The Commodity Futures Trading Commission approved regulations that impose various requirements on financial institutions' treatment of customer information. The regulations require that financial institutions develop privacy policies and disclose these policies to its customers.

Interbank FX ("Interbank") considers your privacy one of our utmost concerns. This Privacy Notice outlines our current policies and practices regarding how information about individual customers is collected and used. We will send existing customers an updated Privacy Notice on an annual basis.

In order to provide you with individualized service, Interbank collects information about you from your account application and other forms that you may deliver to us. This information included name, address, nationality, employment information, and financial and investment qualifications. Interbank also collects information about your transactions with Interbank and its affiliates. We use this information to open an account for you, process your requests and transactions and to provide you with additional information about our products and services. In order to service your account, effect your transactions and mail correspondence to you, we provide your personal information to other independent firms that specialize in providing these services.

These include our foreign exchange counter parties and our printing and mailing vendors. We require these other independent firms to protect the confidentiality of your information and to use the information only for the purpose for which the disclosure is made. We do not disclose any nonpublic personal information about our customers to other independent firms, organizations or individuals except in furtherance of our business relationship with you, or as otherwise permitted or required by law.

If you decide at some point to close your Interbank account, we will continue to adhere to the privacy policies and practices described in this notice.
We restrict access to nonpublic personal information about you to those employees who need to know that information to provide products or services to you. We maintain physical, electronic and procedural safeguards that comply with federal standards to guard your personal information.

If you have any questions or concerns regarding the privacy of your information at Interbank, please contact us at 1-866-468-3739, Monday through Friday, between the hours of 8 a.m. and 5 p.m. Mountain Standard Time.

THE FOREIGN CURRENCY TRADING YOU ARE ENTERING INTO IS NOT CONDUCTED ON AN EXCHANGE. INTERBANK FX, LLC IS ACTING AS A COUNTERPARTY IN THESE TRANSACTIONS AND, THEREFORE, ACTS AS THE BUYER WHEN YOU SELL AND THE SELLER WHEN YOU BUY. AS A RESULT, INTERBANK FX, LLC'S INTERESTS MAY BE IN CONFLICT WITH YOURS. UNLESS OTHERWISE SPECIFIED IN YOUR WRITTEN AGREEMENT OR OTHER WRITTEN DOCUMENTS INTERBANK FX, LLC ESTABLISHES THE PRICES AT WHICH IT OFFERS TO TRADE WITH YOU. THE PRICES INTERBANK FX, LLC OFFERS MIGHT NOT BE THE BEST PRICES AVAILABLE AND INTERBANK FX, LLC MAY OFFER DIFFERENT PRICES TO DIFFERENT CUSTOMERS.
IF INTERBANK FX, LLC ELECTS NOT TO COVER ITS OWN TRADING EXPOSURE, THEN YOU SHOULD BE AWARE THAT INTERBANK FX, LLC MAY MAKE MORE MONEY IF THE MARKET GOES AGAINST YOU. ADDITIONALLY, SINCE INTERBANK FX, LLC ACTS AS THE BUYER OR SELLER IN THE TRANSACTION, YOU SHOULD CAREFULLY EVALUATE ANY TRADE RECOMMENDATIONS YOU RECEIVE FROM INTERBANK FX, LLC OR ANY OF ITS SOLICITORS.

- The IBFX Team
If someone can answer this:
Just wanted to know then why do they claim they donīt have a dealing desk and that they have a multibank liquidity feed and route the orders to those banks? Isnīt that misleading or false information? Thanks
  • #16
  • May 31, 2008 9:07am May 31, 2008 9:07am
Quoting Moe
i don't care how interbankfx run there business they have never screw me as a client, the only problem i have is that i can no longer trade 10mill per click they drop it down to 5mill per click, other then that every thing has been good with them.
I can't understand why somemone who claims to swing trade would be affected by that. Just open 2 positions. Or even 10 standard lots one at a time. What does it matter? It only matters if you are .......uhh...... scalping
  • #17
  • May 31, 2008 9:07am May 31, 2008 9:07am
Quoting fjaragon
If someone can answer this:
Just wanted to know then why do they claim they donīt have a dealing desk and that they have a multibank liquidity feed and route the orders to those banks? Isnīt that misleading or false information? Thanks
your right, that throws out there claims of being a S.T.P. broker, what there telling us is that they may hold some trade's in house and they may give diffrent clients diffrent feeds W.T.F.
If I Go Broke Trying Then I Will die happy.
  • #18
  • May 31, 2008 9:10am May 31, 2008 9:10am
Quoting PipStar
I can't understand why somemone who claims to swing trade would be affected by that. Just open 2 positions. Or even 10 standard lots one at a time. What does it matter? It only matters if you are .......uhh...... scalping
im effected by it because i will like to do 10mill in one click now im force to enter 2 orders at 5mill a piece
If I Go Broke Trying Then I Will die happy.
  • #19
  • May 31, 2008 9:11am May 31, 2008 9:11am
Quoting fjaragon
If someone can answer this:
Just wanted to know then why do they claim they donīt have a dealing desk and that they have a multibank liquidity feed and route the orders to those banks? Isnīt that misleading or false information? Thanks
They have been busted many times by the NFA for false advertising. Just do a search on IBFX on NFA website.
  • #20
  • May 31, 2008 9:15am May 31, 2008 9:15am
Quoting Moe
im effected by it because i will like to do 10mill in one click now im force to enter 2 orders at 5mill a piece
here's how it works bro if i want to buy or sell 10mill at market, now i have to click 5mill twice, if i want to do an entry order at 10mill i have to enter 2 orders at 5mill each, before i could of done this in one order.
If I Go Broke Trying Then I Will die happy.
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