InterbankFX- comments

I just traded a while ago with interbankfx, and i entered as soon as the news hit the charts, and i went long with GBP/USD. I should be gaining a lot of pips but interbankfx kept on changing the quotes, which placed me into losing pips when they okayed my trade. I entered when the market at 1.955, when i saw what is there on my platform, it syas i entered at 1.9995. What happened to my gains. And their spread went to 10 to who knows how many pips from 4 pips on GBP/USD, and it changes a lot for a few minutes.

And I also noticed the EUR/USD, from just a 2 pip spread, it rose to 7 pips. Oh well. So disgusting.

Anybody whow ould try to recommend a better platform?

I thought interbankfx would be ok. What i experienced now is just terrible.

My only live account was with interbankfx. I don't trade the news and generally use limit and stop orders. I have found that,yes, the spread can change wide and far. Also, sometimes only the bid or ask price moves. I also keep a price ticker on my computer from oanda and the price differential can be astonishing.

No doubt the brokers make money from the losses of their traders. So also they will lose money when you make money. My conclusion is: They are the market maker and unless they do something illegal there is not much you can do. Unethical is much different from illegal. So I use a trading system with all of these factors in mind. If I don't like it, I don't have to trade the Forex. It is what it is

yeah. i have to agree...
i was just surprised with the outcome of events
a lesson for me somehow
anybody have suggestions on a broker which would not adjust the spreads during news time?
i currently try to trade the news...

I left IBFX a long time ago. IMO they are crooks. Currently trading with FXDD.

My view is here in reply to another IBFX thread started yesterday as well which has a bearing for here also. From the comments here and there you may well form the opinion that IBFX are to be avoided.

That thread you are referencing from yesterday was actually started in 2005, LOL.

Hi,
Interbank is not only giving requote at news releases, also while normal trading is on the way. I do scalping, so the requote me a lot 2, 3 and sometimes 4 pips. Other times when i try to enter into a position, they told me that the trading context is busy, so i cancelled, but seconds later, they open the position at 3 or 4 pips after cnacelled. I am considering leaving them definetely. I am just testing other brokers right now. todays news was crazy spreads above 10 pips in almost all pairs, and even 14 pips spread, They are crazy. My partner is a news trader and he is constantly reciving requotes and large spreads. It looks that not only we have to deal with this crazy market, also we have to keep worrying about a decent and honest broker. Does it exist? I dont think so. Everithing started Ok, then after a month all this trouble. I am not recommending Intrbank to anyone..

Perhaps still even more relevent today then? Problems then and now.

I don't scalp or try to trade the news, I've had no problem. In reality every market maker is as bad as another, advocating one over another is nothing more than opinion. I have never understood why scalpers & news traders go with market makers as the alternative is likely to offer more volatility anyway.

Use the search functions. There are numerous posts about news trading and brokers, especially in the News Trading Room section

just my opinion,if one likes to trade news one should look for a broker with a fixed spread,that will garantee the orders around news time,i understand this may take some time,but i've found pfgfx.com based out of chicago to be decent for news,they also have ACCU CHARTS .