New IBFX Web Widgets | Forex Factory

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New IBFX Web Widgets

  • #1
  • First Post: Jan 21, 2009 1:20pm Jan 21, 2009 1:20pm
Hello All...

My name is Gretchen and I work for IBFX. We just introduced three FREE web widgets for Daily Pivots, Quotes Scroll and Market Watch and we'd love to get some feedback from the public. You can access the widgets at Interbank FX - Forex | Forex Broker | Currency Trading | Forex Trading. Let us know what you think!

Gretchen
  • #2
  • Jan 21, 2009 1:52pm Jan 21, 2009 1:52pm
Quoting Ibfx
Hello All...

My name is Gretchen and I work for IBFX. We just introduced three FREE web widgets... Let us know what you think!

Gretchen
Of more concern to me than any Widgets is who is working on the actual platform to speed up order execution, reduce "Off Quotes", "Invalid Price", consistent inaccuracies on the opening and closing of orders, TP's and SL's???

If you come on this forum and represent IBFX, then hopefully you can get some answers to real trading issues instead of just announcing shiny baubles and gadgets.

I'm currently shopping for a new broker as I've received no feedback or seen any improvement in the issues I've repeatedly raised with Customer Support from IBFX and the documented problems I refer to above are either getting worse, or remain broken with no improvement.

When I personally asked if anyone there ever monitored this specific forum concerning the legitimate issues (and not the dumb "my broker screwed me!" rants) that might be of interest to IBFX, the answer was a "NO" with a 'snicker' attached... I got the point.

So it's interesting that you're here now wanting feedback, but really... free "Widgets"? What about the actual platform the spread I pay helps support?

http://www.forexfactory.com/showpost...5&postcount=41
http://www.forexfactory.com/showpost...0&postcount=51
http://www.forexfactory.com/showpost...0&postcount=52
FUBAR...
  • #3
  • Jan 21, 2009 3:34pm Jan 21, 2009 3:34pm
Dear Ibfx, please look at the stuff that matters. You got a whole thread in your name called "IBFX", http://www.forexfactory.com/showthread.php?t=97963
  • #4
  • Jan 21, 2009 7:03pm Jan 21, 2009 7:03pm
ak4x and piccolo...

Thanks so much for your comments. Believe me, we appreciate all feedback…good and bad!

I have had a chance to read through the comments about IBFX on Forex Factory and I want you to know that we are definitely aware of the problems that you are having with execution. I also want you to know that we are actively investing in a solution to correct these problems because we know that execution is key and we want to provide you with the best service possible. We hear your frustrations and we’re on it!

[color=#0000ff][email protected]I also think it is important for us to be more involved in your conversations online…and that is why I’m here! Whether to ask for feedback on our new widgets or to respond to some of your questions or comments, I think we owe it to our customers--and to anyone else who wants to learn about IBFX--to be available and involved. In fact, I invite you to contact me personally at any time ().[/color]

…and if you have any comments on those widgets, be sure to let me know!

gretchen
  • #5
  • Jan 21, 2009 7:46pm Jan 21, 2009 7:46pm
Quoting Ibfx
I have had a chance to read through the comments about IBFX on Forex Factory and I want you to know that we are definitely aware of the problems that you are having with execution. I also want you to know that we are actively investing in a solution to correct these problems because we know that execution is key and we want to provide you with the best service possible. We hear your frustrations and we’re on it!
gretchen
You are aware of these problems because they are of IBFX own making !!!!!!!!
And I know that you will never fix them although you have kept saying for nearly 3 years through various IBFX spokespersons that you are working on it. These problems with execution are a direct result of your use of the Virtual Dealer Plug-in. Everything in your execution is in your favour - wide spreads, requotes, offquotes. What incentive do you have to change that? May be after you lose enough market share?
Please tell me, apart from these silly bells and whistles and other widgets that you provide and that I dont personally need, give me some good reasons to trade with IBFX. Show me what distinguishes your company from the rest of the pack of brokers that would be a compelling reason for any trader to open an account with you???
  • #6
  • Jan 21, 2009 7:59pm Jan 21, 2009 7:59pm
right on. Straight to the point. I might also add that your spreads are ridiculous. As of now, usdcad has 20 pips spread and usdchf has 8. This is in asian session with no news in sight.
edit: usdchf spread has return to normal on gmt+2
  • #7
  • Jan 21, 2009 10:04pm Jan 21, 2009 10:04pm
Quoting Ibfx
ak4x and piccolo...

Thanks so much for your comments. Believe me, we appreciate all feedback…good and bad!

[color=black]I have had a chance to read through the comments about IBFX on Forex Factory and I want you to know that we are definitely aware of the problems that you are having with execution. I also want you to know that we are actively investing in a solution to correct these problems because we know that execution is key and we want to provide you with the best service possible. We hear your...
Gretchen,

You can fool a lot of newbies with your pleasant-customer-is-always-right attitude, but there are a lot of seasoned traders here. Bad execution for your clients means more money for the company and ultimately a hefty bonus for you! I'd be very surprised if exectuion improved. Afterall, you can't have a majority of your clients winning. IBFX would probably have to shut down, and you'd be out of a job!
  • #8
  • Edited 10:44pm Jan 21, 2009 10:29pm | Edited 10:44pm
i thought i was the only one suffering from all the above mentioned problems. everytime i asked the customer support about the frequent requotes and off quotes problems they say it might be due to my internet connection blah blah blah since i'm in asia and it's sooooo far away from their servers...sheeh...

is ibfx is trying to play a 2 game strategy here? ie. "trying" to be an ecn with the huge spread the moment volatility increases or decreases from the norm and at the same time being a bucket shop with the frequent requotes/off quotes problems?

i can say with high confidence that many of us who are long enough with ibfx are sick and tired of their shenanigans. many of us in my group have cancelled their accounts and moved on. i have also opened an account with another broker but have maintained my ibfx account because ibfx has some advantages. however it is not worth mentioning them for the time being until ibfx cleans up it's act.

oh, and not forgetting, maybe i can recommend ibfx to save some $$ on hiring the customer support staffs by just having all the answers to the frequently asked questions ready upfront because their answers are almost always the same. they can only give answers to very surface questions. anything more than that they will either be defensive or i will not get the answers to my questions. in short, there is no real value from your support staffs.
  • #9
  • Edited 11:18pm Jan 21, 2009 11:08pm | Edited 11:18pm
Quoting ak4x
If you come on this forum and represent IBFX, then hopefully you can get some answers to real trading issues instead of just announcing shiny baubles and gadgets.
Widgets?! LOL!!

ibfx gets owned!


Edit: I take no pleasure whatsoever seeing a once highly regarded company squander their reputation. The title of this thread is a sad reminder of the depths to which they've sunk. I was appalled to see it had actually been started by a company rep.


Gretchen, welcome to the Factory.
  • #10
  • Jan 21, 2009 11:12pm Jan 21, 2009 11:12pm
This is what I get from trading with IBFX.

1. Not competitive spread (Amazing big spread running up and down, widening most of the time)

2. Requote and offquote is a everyday thing

3. Take profit don't get filled sometimes ! [I'm not joking, i saw many times TP got hit but trade is still there and price move away from the TP with the trade still opening !]

The ONLY good point about IBFX now is customer service. I would say they have the best customer service out there. But hey, I'm use IBFX for trading and NOT for their customer service.

I have no feedback on the New IBFX Web Widgets since there isnt a need for me to use them.
  • #11
  • Jan 21, 2009 11:38pm Jan 21, 2009 11:38pm
I have to agree with the sentiment in this thread. Don't misunderstand me, we appreciate 'gimmicks', but rather than try and fool us with gimmicks, we would greatly appreciate it if you could get you house in order. As I type this the spread on AUDNZD is 47, yes you read that right 47.

You have really and truly gotta be kidding me, unfortunately all I am expecting from this thread is the same canned responses that I get on the live chat. The story of your liquidity providers is getting old now, I suggest you guys take a look at other brokers spread and take a good hard look at your 'liquidity providers'. I'll honestly be surprised if we get any relevant feedback in this thread, I find that as soon as you start questioning the operations of IBFX, albeit with valid concerns, you get the usual canned responses and shuut out.

That about sums up my feelings about IBFX and my pending move to another broker.
"The market giveth and the market taketh away"
  • #12
  • Edited Jan 22, 2009 12:35am Jan 21, 2009 11:53pm | Edited Jan 22, 2009 12:35am
I just updated my internet service and I am getting great execution with IBFX. real money account, about 10 years trading experience.

Of course I am not saying that there is no room for improvement.

Personally I would love to see tighter spreads so I could trade more often.

Large spreads force experienced traders to trade larger time frames in order to cover the cost of the spread, decreasing trade frequency and also liquidity. Tighter spreads allow traders to trade smaller time frames more often, increasing market liquidity.

From a trades perspective I would think that if a broker understood this they would lower their spreads compared to the competition, then would attracted a lot of traders to their company and as byproduct liquidity and fills would be better.


Best Regards


Dale

PS. I only trade the majors in this time of crises because that is where the best liquidity should be right now.
  • #13
  • Jan 22, 2009 12:37am Jan 22, 2009 12:37am
Quoting Dale
I just updated my internet service and I am getting great execution with IBFX....
Liquidity has been great lately on real ECN systems. If you read this thread, you'd be led to believe that a "requote" is caused by slow internet connection or distance to the servers. So ridiculous since a requote in a non-true market like IBFX runs is a manual decision on the other end. Forget widgets, you guys are smoking crack for using them. It's 2009.
  • #14
  • Jan 22, 2009 1:18am Jan 22, 2009 1:18am
i find ibfx to be reasonably good but the spreads are getting to be too high why are you charging such a high spread ur now probably in the top 10% of "high spread brokers."

If you want to expand your business you should pay attention to customers feedback.

How come your spreads are so high as compared to other MT4 brokers?
  • #15
  • Jan 22, 2009 3:57am Jan 22, 2009 3:57am
Ok just going to make this as brief as possible so your going to have to read between the lines LOL. I am not for or nor am I against the broker in question. I personally don’t believe that brokers are out to get us however the system gives them the edge. It’s obvious who is consistently making money and why. I understand the cost of doing business can be high, and with the financial mishap last year and “proposed NFA Capital requirements” then need to make money hasn’t been greater…IMO dealers need to set their spreads to cover their operating expense (clearing and settlemen, utilites, accounting blah blah..)Just like any business. Having said that though, if spreads are to high for to long Joe broker won’t last Why? Because Joes competition comes into play, then order flow happens and were spreads go? Lower, as well as excess profit and loss of client. On the other hand a low spread don’t pay bills either

IMO I don’t believe most brokers’ trade against its customers but their clearing house dose. This allows a lot of brokers to get away with those catchy little jingles like we have no dealing desk and their for we don’t trade against our customers, STP. …hell the more the merrier. Most brokers put this on the front page of their website IMO that would be a pretty brazen lie (one in which they would surly get sued, fined or shut down). So in step the real dealing desk the clearing houses. For a fee some brokers can pay them to take care of all their needs like, clearing trades for all their risky customers, that way all they have to worry about is taking care of things on their side like re quotes, server freezes, spread widening, for the less fortunate, you know the rest…

Hint: brokers try to avoid trading with traders that are well informed WHY? Because they loose.

P.S. Get informed.

Happy Trading

By the way what the hell is a widget..LOL?
It's me...
  • #16
  • Jan 22, 2009 8:11am Jan 22, 2009 8:11am
Gretchen was the name of my 1st love(age 6). However, I think it is also the name of IBFX's newest employee. We all know why IBFX is EVERYONES favorite ex-Broker! We all had had u-we all left u. Fix this company's real issues before adding "NEW" issues please. A change in managment will be the ONLY fix I would consider relevent. It will never be anything different with the same "broke" crew running the show. Godd luck.
FF = Forex Faggots
  • #17
  • Jan 22, 2009 10:11am Jan 22, 2009 10:11am
yet another "mis quote" this morning. The price action was not moving and sure enough.....nothing narda ziltch zero.

I started with IBFX because so many traders on this forum raved about how good it was. NOW these same traders are fleeing and bad news spreads faster than good new.

Please fix your problems other wise me and a lot more people will be saying ta ta...see ya later...outa here.... byeee



Can anyone recommend a good broker with low spreads and mt4 platform.....thanks.
It's All About Attitude ...
  • #18
  • Jan 22, 2009 1:13pm Jan 22, 2009 1:13pm
MB Trading is working on it.
  • #19
  • Jan 22, 2009 1:38pm Jan 22, 2009 1:38pm
Quoting AgentFx
IMO I don’t believe most brokers’ trade against its customers but their clearing house dose. This allows a lot of brokers to get away with those catchy little jingles like we have no dealing desk and their for we don’t trade against our customers, STP...
I just don't understand how so many people trade forex and don't get the mechanics of it. This line from AgentFX is exactly true, and it doesn't take a genius to figure out whether your broker is a desk or not. Two simple questions:

1) Do your limit orders reflect in their quotes immediately for all to see? If not, they are holding limit orders away from the market, they are not an ECN, and they are in fact a desk.

2) Do they charge you a commission? If not, they (or, as AgentFx correctly puts it, their clearing house) are a desk, trading against you. Where else are they making money if they aren't charging you for the transaction.

This is so basic, I just don't understand how people still fall for it.
  • #20
  • Jan 22, 2009 1:45pm Jan 22, 2009 1:45pm
Wannatradefx, while I agree with you that most brokers are in fact running a book I think that some of them genuinely do not run a book. I have to disagree with you that ECN's do not shade the market as I know for a fact that some of them do.

The key to FX is execution and that is it; are your trades executed quickly or do they "hang" are your limits filled are your stops filled well in all markets. These are the things that are important because if your broker promises the moon but you cannot trade on that promise who cares about the promise?
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