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  • #21
  • Jan 22, 2009 11:53am Jan 22, 2009 11:53am
Granted, Gretchen did receive a baptism of fire as such but I am not in the slightest bit surprised that we haven't heard from her again in this thread. Typical IBFX, all smoke and mirrors from a customer service point of view, but when their CLIENTS raise points that seriously need to be addressed they pull a diappearing act.

Laughable....
"The market giveth and the market taketh away"
  • #22
  • Jan 22, 2009 12:48pm Jan 22, 2009 12:48pm
Why not give her another day to respond?
  • #23
  • Jan 22, 2009 1:34pm Jan 22, 2009 1:34pm
Guys...No disappearing act. I'm here, just in between meetings. I hear you all and definitely understand the problems. This is why I want to open up the dialogue with you and give you a place, outside of phoning one of our client services reps, to voice your opinions to a real person...and know that you are being heard. This is the first step!

I am not a client services representative for the company and I won't give anyone a "canned" answer. I am here because I see what is being discussed and I want to be more proactive in communicating with our clients about anything and everything IBFX and forex. And you can take heart in knowing that I am taking your comments directly to the top and that I will come back to you with the answers that you are looking for. Sometimes, it won't be right away because I'll need to get answers that I may not have. Just hang in there...and again, email me if you want to get in touch right away ([email protected]).

Yes...definitely baptism by fire!

gretchen
  • #24
  • Jan 22, 2009 8:53pm Jan 22, 2009 8:53pm
If you don't mind me asking, then what is your position with IBFX?
"The market giveth and the market taketh away"
  • #25
  • Jan 22, 2009 9:06pm Jan 22, 2009 9:06pm
Quoting urbanFX
If you don't mind me asking, then what is your position with IBFX?
Horizontal.
  • #26
  • Jan 22, 2009 9:56pm Jan 22, 2009 9:56pm
IBFX metatrader is rigged to display offquotes when the trade goes in your favour immediately after you place your order. However, when the trade goes against you immediately after you enter your order, the system gladly accepts your order.

Cheap a few pips here and there and the active trader who is trying to scalp is put in a serious advantage with IBFX.

No point attempting with the IBFX demo account because you won't receive such offquotes. Totally different story with the live account.

Beware!
  • #27
  • Edited Jan 23, 2009 12:36pm Jan 22, 2009 11:14pm | Edited Jan 23, 2009 12:36pm
I hope not to offend anyone with this post; here goes.

I once spent 2 years studying options strategies, I was so into it and young; I went to seminars, bought expensive software paid money for a live feed, my broker was the first women broker on the CBOT, She had built an excellent team. I would call in by speed dial in those days.

So I saw quotes that I could put on a multi instrument position; selling and buying options and straight contracts, the position would immediately put 1,300 dollars into my account. My broker said that the market maker would not fill the position, only part; I was upset then figured out, gee I guess the market maker had the same software I had; he did not want to loose 1,300 dollars to fill my order.

What is my point, I realized to execute my strategy I would need to become a floor trader at CBOT, Instead I developed a new strategy that allowed the market maker to make his money and me to make mine. After all if he did not make his money who would fill my orders?

Of course I am going to find the best market maker/broker I can, but maybe some of you are ready to see my point. Reduce your cost of business in every way, however structure you trading business to cover all risk, including slippage, and re quotes, broker goes bankrupt and many other risks of trading.

Personally I believe that risk and volatility go hand in hand, that is why I currently trade forex.

Best regards


Dale
  • #28
  • Jan 23, 2009 1:23am Jan 23, 2009 1:23am
Quoting IBFX
And you can take heart in knowing that I am taking your comments directly to the top and that I will come back to you with the answers that you are looking for. gretchen
Gretchen, you know what? I don't want to discourage you from participating in this forum and I hope I dont come across to you the wrong way. But I tell you what, your CEO Todd Crosland has for years been well aware of these problems so you will be telling him nothing new. And all you will get from the top is just more lies. These answers could be believable to the forex newbies but not to many of us here at FF who are experienced traders. You would just be wasting your time like others before you that tried to help. Marilyn from IBFX comes to mind; where is she these days? Gone I suppose. I can tell you that for the last few years, IBFX has suffered a serious loss of reputation among us traders. Fortunately, there are plenty of better choices out there.
  • #29
  • Jan 23, 2009 2:57am Jan 23, 2009 2:57am
Well I thought I would jump in this discussion. I know that prices are fluctuating more than normal but I set my deviation from price all the way to 10 to avoid the requote thing and I still get off market and requotes. I mean I can see the tick chart and it moved maybe 2-4 pips but the deviation should still let me enter my trade. Since I am a medium term trader I factor in the slippage, etc. into my trading and hold positions for hours or even days. When I put slippage at 10 I would think I would get the position filled and not requoted and when I close I should get my close. I tend to avoid news times so I dont think my style of trading should be affected by such things.

My other complaint is the spread widening, yes I understand the concept of a buyer being on the other end but golly the AUD/NZD 30-50 pip spreads. What the ....................... I was making money on that pair until you changed the spreads so high. Even though I have been basically happy with your company for the last 2+ years, you may force me to change brokers. It was one thing to increase your spreads during news time but all day long. I see no justification for that.
  • #30
  • Jan 23, 2009 3:18am Jan 23, 2009 3:18am
Quoting nanningbob
My other complaint is the spread widening, yes I understand the concept of a buyer being on the other end but golly the AUD/NZD 30-50 pip spreads. What the .... I was making money on that pair until you changed the spreads so high. Even though I have been basically happy with your company for the last 2+ years, you may force me to change brokers. It was one thing to increase your spreads during news time but all day long. I see no justification for that.
I think IBFX have big News 24/5 all day, every hour , every mins, every second, that will explain the spread widening as if there was interest rate announcement. I'm moving most of my fund out of IBFX. They are just trying to steal my money
  • #31
  • Jan 23, 2009 3:21am Jan 23, 2009 3:21am
Quoting forexisfx
I think IBFX have News 24/5 all day, every hour , every mins, every second, that will explain the spread.
I am not happy about the offquotes and that the slippage is a bug but spread is OK on eur/usd. Minor widening during the news but 99% it's 2pips. Maybe there is not enough liquidity on exotic pairs.
  • #32
  • Jan 23, 2009 3:33am Jan 23, 2009 3:33am
Quoting forexisfx
I think IBFX have big News 24/5 all day, every hour , every mins, every second, that will explain the spread widening as if there was interest rate announcement. I'm moving most of my fund out of IBFX. They are just trying to steal my money
Let me know if there are any dealers I can use my EAs on. I love the penny trades to test things live without putting any major money. Once you go to dimes it becomes a whole different ball game.
  • #33
  • Edited 3:56am Jan 23, 2009 3:44am | Edited 3:56am
Quoting nanningbob
Let me know if there are any dealers I can use my EAs on. I love the penny trades to test things live without putting any major money. Once you go to dimes it becomes a whole different ball game.
The only reason i have stay with IBFX till now it's becoz of their nano lot. I find it hard to find broker which offer nano lot. Anyone here can recommend us alternatives to IBFX ? I'm still in the process of finding good mt4 broker.

so far, i see that mb trading looks good and they recently offer mt4. I found this on their website

  1. Direct ECN connections and execution
  2. Tight ECN spreads and quotes
  3. A true non-deal desk environment
  4. NO proximity restrictions when placing entry or exit orders
  5. Scalping available

Maybe u should check out the other thread MB Trading Futures - Introduction (Formerly EFX Thread)

  • #34
  • Jan 23, 2009 5:27am Jan 23, 2009 5:27am
Gretchen,

Looks like the flood gates have opened up. The spot light is on you now, this could be your chance to turn things around and make a lot of people happy again. But if you disappear looks like some of your customers are going to be flocking elsewhere. We all will be waiting....we know you can do this.

Quoting IBFX
Guys...No disappearing act. I'm here, just in between meetings. I hear you all and definitely understand the problems. This is why I want to open up the dialogue with you and give you a place, outside of phoning one of our client services reps, to voice your opinions to a real person...and know that you are being heard. This is the first step!

I am not a client services representative for the company and I won't give anyone a "canned" answer. I am here because I see what is being discussed and I want to be more proactive in communicating with...
It's me...
  • #35
  • Jan 23, 2009 6:05am Jan 23, 2009 6:05am
Quoting forexisfx
Maybe u should check out the other thread MB Trading Futures - Introduction (Formerly EFX Thread)
A lot of us MT4 junkies are eagerly awaiting the completion of their beta testing. It's hoped it will be very soon. IMO, MBT and Justin LeBlang have established the gold standard of customer support on this board. No other broker even comes close.

Gretchen has a very tough job ahead of her and I think the FF membership is mature and experienced enough to make critical remarks about ibfx without resorting to unnecessary childish personal comments.
  • #36
  • Jan 23, 2009 7:15am Jan 23, 2009 7:15am
Funnily enough, I am actually very happy with the service that I receive from IBFX, my only real gripe is the exhorbitant spreads. This impacts directly on my pocket however and that is unacceptable.

Quoting opie999
Gretchen has a very tough job ahead of her and I think the FF membership is mature and experienced enough to make critical remarks about ibfx without resorting to unnecessary childish personal comments.
"The market giveth and the market taketh away"
  • #37
  • Jan 23, 2009 9:00am Jan 23, 2009 9:00am
Wow the silence is deafening. Oh wait I think I heard a cricket....
  • #38
  • Jan 23, 2009 11:05am Jan 23, 2009 11:05am
Hi All!

I am not gone.. just busy (how are you doing PipStar!). I know I have left this space in a void for a while, but like always I think it is important to get feedback from you guys. And I am happy to hear what you have to say. Gretchen and I are going to work to make sure your concerns are heard, people with specific issues get pointed to people here that can help, and let you know what we are doing.

So.. Nice to see you all again.. looking forward to being around.

Marilyn
  • #39
  • Jan 23, 2009 11:33am Jan 23, 2009 11:33am
Update to my Post #2 here...

It's much harder than I thought it would be to find that "new borker". Partly of course becuz the way I'm looking for the new one is not the way I started with the current one... asking questions i didn't even know existed at the time, understanding what's being said from what's not being said, and most importantly, what I can't get the rep to say or commit to...

This knowledge came at a pretty high cost, and I wouldn't trade that experience for anything. Whatever my future relationship with IBFX, there's always that... in any event, I find myself still with IBFX for the moment. I haven't seen any discernible improvement to date, but I've also been trading quite a bit less.

Gretchen, at least if management keeps you in this post, tell them you need more money. Heck, we'll tell them, get them online.
FUBAR...
  • #40
  • Edited 4:09pm Jan 23, 2009 1:45pm | Edited 4:09pm
Quoting ak4x
Update to my Post #2 here...

It's much harder than I thought it would be to find that "new borker".

ak4x,

I think this is the most honest answer so far on this thread. IMO the grass really isn't much greener on the other side.I have been with an ECN for 2 years. I am up more on the market maker account than i am on the ECN platform (I think this is because of high commission compared to lower spread) taking the same trades simultaneously.

This broker/MM is really quite easy to make money with. IMO ak4x gave us the biggest clue in his last post how to do that. Any ways...I would just like to thank IBFX (if that truly is their intentions) for stepping up and listening to their customers.

Like OPie said MBT already has the pattend on this but it would be good to hear it from a MM/STP as well.

I suspect FF has quite a few IBFX clients. I just wish "Someone" would change the name of the thread (since its erelevent to widgets now) to make it easier for them to find. I am finding the title misleading given the nature of the posts.

You two girls have your work cut out for you.... as it stands there are still a lot of unhappy customers and questions yet to be answered.

Anyways those are my thoughts. I hope more IBFX customers find this thread and voice theirs.

Happy trading..
It's me...
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