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Is InterBank Fx Is Another Growing Broker??

  • #21
  • May 31, 2008 7:21am May 31, 2008 7:21am
This is what it says on their web site:

"In addition, IBFX trading profits are generated exclusively on its markup to institutional prices, and never from a dealing desk trading against customer positions." https://secure.ibfx.com/Company/News...008/08_02.aspx

Allthough I only have a small account with them all this contradicting info makes me a bit uneasy
  • #22
  • May 31, 2008 7:27am May 31, 2008 7:27am
Quoting fjaragon
This is what it says on their web site:

"In addition, IBFX trading profits are generated exclusively on its markup to institutional prices, and never from a dealing desk trading against customer positions." https://secure.ibfx.com/Company/News...008/08_02.aspx

Allthough I only have a small account with them all this contradicting info makes me a bit uneasy
interbank walks a thin line with there NDD and STP claims, they are getting by with it because they have a computer doing all the work for them.
If I Go Broke Trying Then I Will die happy.
  • #23
  • May 31, 2008 7:32am May 31, 2008 7:32am
Quoting Moe
interbank walks a thin line with there NDD and STP claims, they are getting by with it because they have a computer doing all the work for them.
Moe,

What do you mean by the part that they have a computer doing all the work for them?
  • #24
  • May 31, 2008 9:17am May 31, 2008 9:17am
I have been with IBFX for almost 2 years now and have compared their price feeds with many other companies some MT4s and some with their own platforms. I have always found their prices within 1 or 2 pips of the others but found their price spikes to be less than others. If you are trading mini or micro lots you must understand that those trades are not going out of the house. They are carry that trade in house. Big banks arent going to handle penny and dime trades. It is actually good business for them since most beginners trade and are learning by losing small amounts of money. They get to keep all your loss not just the spread. I am sure the losers clearly outweigh the winners so it is good business to do it this way. As long as their price feed is the real world it doesn't matter if they handle the trade or they send it out to another bank. You still win or lose the same amount of money. The only type of trading that will not work well with IBFX is news trading. They increase the spread during the first couple of seconds of a big news story to protect themselves from those traders who have access to direct feeds. So news trading is not a good idea with them. Since I will hold trades for hours or days at a time this does not affect my trading strategy. I have always found them fair and honest with my money and when I make deposits are ask for profits I get both the same day.
  • #25
  • May 31, 2008 9:21am May 31, 2008 9:21am
Quoting nanningbob
I have been with IBFX for almost 2 years now and have compared their price feeds with many other companies some MT4s and some with their own platforms. I have always found their prices within 1 or 2 pips of the others but found their price spikes to be less than others. If you are trading mini or micro lots you must understand that those trades are not going out of the house. They are carry that trade in house. Big banks arent going to handle penny and dime trades. It is actually good business for them since most beginners trade and are learning by losing small amounts of money. They get to keep all your loss not just the spread. I am sure the losers clearly outweigh the winners so it is good business to do it this way. As long as their price feed is the real world it doesn't matter if they handle the trade or they send it out to another bank. You still win or lose the same amount of money. The only type of trading that will not work well with IBFX is news trading. They increase the spread during the first couple of seconds of a big news story to protect themselves from those traders who have access to direct feeds. So news trading is not a good idea with them. Since I will hold trades for hours or days at a time this does not affect my trading strategy. I have always found them fair and honest with my money and when I make deposits are ask for profits I get both the same day.
they been honest and fair with me.
If I Go Broke Trying Then I Will die happy.
  • #26
  • May 31, 2008 9:21am May 31, 2008 9:21am
Quoting nanningbob
I have been with IBFX for almost 2 years now and have compared their price feeds with many other companies some MT4s and some with their own platforms. I have always found their prices within 1 or 2 pips of the others but found their price spikes to be less than others. If you are trading mini or micro lots you must understand that those trades are not going out of the house. They are carry that trade in house. Big banks arent going to handle penny and dime trades. It is actually good business for them since most beginners trade and are learning by losing small amounts of money. They get to keep all your loss not just the spread. I am sure the losers clearly outweigh the winners so it is good business to do it this way. As long as their price feed is the real world it doesn't matter if they handle the trade or they send it out to another bank. You still win or lose the same amount of money. The only type of trading that will not work well with IBFX is news trading. They increase the spread during the first couple of seconds of a big news story to protect themselves from those traders who have access to direct feeds. So news trading is not a good idea with them. Since I will hold trades for hours or days at a time this does not affect my trading strategy. I have always found them fair and honest with my money and when I make deposits are ask for profits I get both the same day.
Thanks for the explanation, it makes perfect sense
  • #27
  • May 31, 2008 9:23am May 31, 2008 9:23am
Quoting fjaragon
Moe,

What do you mean by the part that they have a computer doing all the work for them?
everything is auto execution, the platform except your trade then offset it with there banks as it see fit/program to do.
If I Go Broke Trying Then I Will die happy.
  • #28
  • May 31, 2008 9:43am May 31, 2008 9:43am
take a look at this.

http://www.investopedia.com/articles...arketmaker.asp
If I Go Broke Trying Then I Will die happy.
  • #29
  • May 31, 2008 3:58pm May 31, 2008 3:58pm
Quoting Moe
take a look at this.

http://www.investopedia.com/articles...arketmaker.asp
Thanks for the info, very interesting
  • #30
  • Edited 5:38pm May 31, 2008 5:25pm | Edited 5:38pm
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.
They had to put that out as of today. Here's one from Gain.

NFA Disclosure Effective 6/1/2008

From time to time, we are required by our regulators to provide you with understandable and timely disclosure on the essential features of forex trading.


FOREX IS AN OVER THE COUNTER (OTC) MARKET, MEANING THE FOREIGN CURRENCY TRADING YOU ARE ENTERING INTO IS NOT CONDUCTED ON AN EXCHANGE. AS A MARKET MAKER, GAIN CAPITAL IS THE COUNTERPARTY IN THESE TRANSACTIONS AND, THEREFORE, ACTS AS THE BUYER WHEN YOU SELL AND THE SELLER WHEN YOU BUY. AS A RESULT, GAIN CAPITAL'S INTERESTS MAY BE IN CONFLICT WITH YOURS. UNLESS OTHERWISE SPECIFIED IN YOUR WRITTEN AGREEMENT OR OTHER WRITTEN DOCUMENTS GAIN CAPITAL ESTABLISHES THE PRICES AND WHICH IT OFFERS TO TRADE WITH YOU. THE PRICES OFFERED MIGHT NOT BE THE BEST PRICES AVAILABLE AND DIFFERENT PRICES MAY BE OFFERED TO DIFFERENT CUSTOMERS.

IF GAIN CAPITAL ELECTS NOT TO COVER ITS OWN TRADING EXPOSURE, THEN YOU SHOULD BE AWARE THAT GAIN CAPITAL MAY MAKE MORE MONEY IF THE MARKET GOES AGAINST YOU. ADDITIONALLY, SINCE GAIN CAPITAL ACTS AS THE BUYER OR SELLER IN THE TRANSACTION, YOU SHOULD CAREFULLY EVALUATE ANY TRADE RECOMMENDATIONS YOU RECEIVE FROM GAIN CAPITAL OR ANY OF ITS SOLICITORS
  • #31
  • May 31, 2008 6:21pm May 31, 2008 6:21pm
look like cms send one of these letter out, it's part of the new law that was pass.

http://www.forexfactory.com/showthread.php?t=89344
If I Go Broke Trying Then I Will die happy.
  • #32
  • Jun 1, 2008 7:20am Jun 1, 2008 7:20am
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.
Wow. I got a similar email from Forex.com today.

Has their been a significant lawsuit against a broker or something regarding this subject? lol
Bundy's status today: "Waiting..."
  • #33
  • Jun 1, 2008 7:53am Jun 1, 2008 7:53am
just new regs saying that the brokers have to say that starting june 1.
  • #34
  • Jun 1, 2008 10:07am Jun 1, 2008 10:07am
Quoting Moe
look like cms send one of these letter out, it's part of the new law that was pass.

http://www.forexfactory.com/showthread.php?t=89344
MOE
IS right...
  • #35
  • Jun 2, 2008 6:32am Jun 2, 2008 6:32am
I hope IBFX gets pounded by the NFA for this!
  • #36
  • Jun 4, 2008 12:00am Jun 4, 2008 12:00am
How many pips do IBFX widen the spread during news announcements - I'm interested in the GBP/JPY pair (I'm do not play the news but I want to know the worst case scenario which occur during these news periods)? Thanks!
  • #37
  • Jun 4, 2008 4:53am Jun 4, 2008 4:53am
Woow Almost 60% In favour of Ibfx & 40% Is Not
Thank's Guy's i also like Ibfx seems a cool broker Gft forex is also seems to me another good Broker. Thanks again for response
  • #38
  • Apr 3, 2009 9:31am Apr 3, 2009 9:31am
Interbank FX is introducing 5th decimal pricing!

As part of our continuing commitment to delivering the optimal customer experience we are introducing 5th decimal pricing on our currency pairs. The 5th decimal prices will be available on our demo servers on Sunday afternoon at 6pm EST on April 12th, 2009 and will be available on the live trading servers on Sunday afternoon at 6pm EST on May 17, 2009.
Why 5th decimal pricing?
Adding the 5th decimal point can reduce the spread, or difference between the buy and sell prices of a currency pair. You may notice tighter spreads as we enable the 5th decimal pricing on our trading platforms.
How will this effect Expert Advisors (EAs)?
Most EAs will be affected by the introduction of the 5th decimal point. Please make sure that you have adjusted all pip value related parameters, such as take profits or stop losses, to allow for the additional decimal point. For instance, if you are currently using a stop loss level of 20 on a four decimal pair, you would have to change the value to 200 to get the same execution on a pair with a 5th decimal. Please be aware that some EAs will need fundamental changes to ensure that they will work as you expect. We would suggest that you use your EAs on our demo accounts before using them on your live account to ensure they are working properly.
How does this effect Stop Losses, Take Profits and Maximum Deviation?
All take profit, stop loss and maximum deviation values that are expressed in points should be multiplied by 10. For example, if you would like to enter a Maximum Deviation of 5 pips, you would enter 50 into the Maximum Deviation field.
How does this effect the profit / loss values expressed in the Trade tab in the Terminal?
All profit & loss values already incorporate the 5th decimal place adjustment when they are expressed as Points in the Profit column under the Trade tab in the Terminal window in MetaTrader.
Does this effect Trailing Stops?
Yes. When you are setting a trailing stop value you will multiply it by 10.
Who do I contact if I have additional questions?
You can contact our award-winning customer service team from Sunday at 5:00pm EST to Friday at 5:00pm EST by email, phone or live chat.
Toll Free:
US and Canada: 866.468.3739
Australia 1.800.884.912
Indonesia 001.803.017.9112
Malaysia 1.800.813.776
New Zealand 0800.445647
Singapore 800.101.2097
United Kingdom 0.808.120.1966
International: +1.801.930.6800

Email:
[email protected]
Live Support:
Click here
- The IBFX Team
I trade what I see on my charts. Do Not listen to the Muppets.
  • #39
  • Last Post: Jan 4, 2011 1:21am Jan 4, 2011 1:21am
Thank you for the insight ...I have my account there also...good information.

Quoting nanningbob
I have been with IBFX for almost 2 years now and have compared their price feeds with many other companies some MT4s and some with their own platforms. I have always found their prices within 1 or 2 pips of the others but found their price spikes to be less than others. If you are trading mini or micro lots you must understand that those trades are not going out of the house. They are carry that trade in house. Big banks arent going to handle penny and dime trades. It is actually good business for them since most beginners trade and are learning...
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