Ahhh, so thats were all my money is going from their crazy high spreads....
DislikedIBFX Posts Record Revenues Despite Market Woes
Defying the current economic downturn that has chilled financial markets globally, Interbank FX (IBFX.com), a leading provider of online off-exchange retail foreign currency (Forex/FX) trading, enjoyed record breaking revenues in September and set a new high of US$77 billion in trading volume, the company's chairman reported today.
"A unique characteristic of our company and the Forex market as a whole is that we actually welcome volatility in the financial markets," said Interbank FX Chairman and President Todd Crosland. "Volatility creates trading opportunities for our customers which in turn generates trading revenue for IBFX."
Throughout 2008, IBFX's strong company performance has continued to accelerate in spite of the deteriorating financial climate, as illustrated by the following corporate milestones:
• Record number of more than 4.8 million customer trades in September
• Newly funded accounts exceeded 1,700 in September, representing the second best month in company history
• Current net capital in excess of $37 million
• 2008 to post fifth consecutive year of more than 100 percent revenue growth for the company
"It is extremely exciting and even somewhat surreal to announce these positive results given the current state of the global economy," said Crosland. "Interbank FX is committed in its effort to continue providing its customers leading edge trading technology and world class customer service."
In addition to its most recent announcement, IBFX has also been recognized by a myriad of trade and mainstream financial media throughout 2008. Below is a list of significant honors and awards the company has received thus far:
2008 Inc. 500
• 46th fastest growing privately held company in the US overall
• 5th fastest growing privately held company within the Financial Services industry
2008 Utah Business' Fast 50—#1 fastest growing privately held company in Utah
2008 MoneyAM Online Finance Awards
• Best Online FX Provider, Winner
• Best Active Trading Platform, Finalist
2008 EXHIBITOR Magazine's Sizzle Awards—Traffic Builder, Winner
2008 American Business Awards
• Best Chairman—Todd Crosland, IBFX Chairman & President, Finalist
• Best Marketing Executive—Marilyn McDonald, IBFX Marketing Director, Finalist
• Best New Product or Service— IBFXU, Finalist
2008 Technical Analysis of Stocks & Commodities Readers' Choice Awards—Top Forex Brokerage, Finalist
To learn more about IBFX or to open a free unlimited Forex practice account, visit www.ibfx.com.