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Interbank FX

  • #1
  • First Post: Nov 2, 2005 5:26am Nov 2, 2005 5:26am
Does anyone know how I can trade mini lots with a standard Interbank FX account? I'm using their version 3 software currently, Thanks
  • #2
  • Nov 2, 2005 6:34am Nov 2, 2005 6:34am
Hi Dark, in order to trade mini-lots you need to open a mini-acct. Easy to do, and then you just transfer funds.
  • #3
  • Nov 2, 2005 11:28pm Nov 2, 2005 11:28pm
Hi Dark1,

I have a standard account with InterbankFX. When I want to trade a mini I type ".10" (no quotes) in the drop-down lots box. Works for me!

Tim
Where am I going... and why am I in this handbasket?
  • #4
  • Nov 3, 2005 12:54am Nov 3, 2005 12:54am
Quoting Dark1
Does anyone know how I can trade mini lots with a standard Interbank FX account? I'm using their version 3 software currently, Thanks
hello dark1, with met4 standard at ibfx you can trade micro, mini and full size lots. in fact you can enter with full size and scale out with micro and/or mini lots.

full lots are 1.0 etc

mini lots are 0.10 etc

micro lots are 0.01 etc

i think its pretty cool.
  • #5
  • Nov 3, 2005 1:20am Nov 3, 2005 1:20am
Quoting james16
hello dark1, with met4 standard at ibfx you can trade micro, mini and full size lots. in fact you can enter with full size and scale out with micro and/or mini lots.

full lots are 1.0 etc

mini lots are 0.10 etc

micro lots are 0.01 etc

i think its pretty cool.
What do you think of IBFX so far Jim?

FT
  • #6
  • Nov 3, 2005 2:00am Nov 3, 2005 2:00am
Quoting fijitrader
What do you think of IBFX so far Jim?

FT
still keeping my eye on things, met4 standard has gone down 2 times in the last 3 days but not for long. i like them a lot especially the attitude. no one talks down to you and they will spend as much time as needed to answer questions without sounding frustrated. they also go out of thier way to tell you if you have any problems they will make it right. they seem like they appreciate your business unlike other places i have been. no dealing desk is nice also. i wish i could walk out my front door and go snorkeling. oh well maybe someday. i snorkel in my pool but i have yet to see anything new or interesting. after all i have been married to the same woman for 15 years.
  • #7
  • Nov 3, 2005 7:45am Nov 3, 2005 7:45am
Hi Jim,

I'm going to demo InterbankFX shortly...

Do you have to request MT4 with the standard account or is MT4 the standard(default) platform?

Thanks,

Scott
Still haven't found what I'm looking for...
  • #8
  • Nov 3, 2005 9:56am Nov 3, 2005 9:56am
Thanks everyone.

The homepage has a request form to transfer standard 3.83 accounts to MT4. Though they say it's likely to have bugs for the next 30 - 60 days.
  • #9
  • Nov 3, 2005 10:34am Nov 3, 2005 10:34am
Quoting james16
still keeping my eye on things, met4 standard has gone down 2 times in the last 3 days but not for long. i like them a lot especially the attitude. no one talks down to you and they will spend as much time as needed to answer questions without sounding frustrated. they also go out of thier way to tell you if you have any problems they will make it right. they seem like they appreciate your business unlike other places i have been. no dealing desk is nice also. i wish i could walk out my front door and go snorkeling. oh well maybe someday. i snorkel in my pool but i have yet to see anything new or interesting. after all i have been married to the same woman for 15 years.
Jim, just curious here. Are you using InterbankFX's version of MetaTrader that is integrated into their client software, or are you using the stand alone version of MetaTrader with data feed from InterbankFX.

I think I'd prefer the latter as the integrated version seems to be lacking some features of the stand alone version.

Also, IF I ever wanted to auto-trade, would I have to use the integrated platform or is it possible to use the stand alone as well?

Thanks Jim

Dial
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  • #10
  • Edited 6:36am Nov 4, 2005 6:24am | Edited 6:36am
Just finished with Interbankfx's customer service and they said you can trade partial lots with the Standard but they have to be over 1 lot. I.e. 1.1, 1.2, 2.1, 3.1 etc. If you want to trade under a lot then you have to get a mini acct. This was part of my discussion with them:

you: I am sorry to be repititve but one of the forums post's read: I have a standard account with InterbankFX. When I want to trade a mini I type ".10" (no quotes) in the drop-down lots box. Works for me! So I am confused, will a standard work like a mini?

Customer Support: Standared lots start at 1 lot
Customer Support: money managers that have hundreds of accounts can trade fractional lots

you: Ok, I will quote this chat for the forum so noone gets confused. Thx for you help!

Hope this helps.

P.S. Have any of you Standard accounts been able to trade less than a full lot? Maybe the customer service folks don't really know.
  • #11
  • Nov 4, 2005 7:03am Nov 4, 2005 7:03am
Yes please clarify this situation. I was getting ready to close 2 accounts at different brokers so that I could move to InterbankFX and use MT4. I was going to open a Standard Account and trade fractional lots under 1 lot such as 0.1, 0.2, etc.

Thanks,

Scott
Still haven't found what I'm looking for...
  • #12
  • Nov 4, 2005 11:02am Nov 4, 2005 11:02am
There seems to be some conflicting statements as I received the following from their on-line Chat:

Please wait for a site operator to respond.
You are now chatting with 'Client Services'
Client Services: Hello, how may I help you?
you: Hi can I do the following? Open a Standard Account with $5000, use MT4 and trade as low as 0.1 lot?
Client Services: yes
you: Really? I saw on a forum that the lowest you can trade on a standard account was 1.0 lot although with MT4 you could trade fractional above 1 lot such as 1.1 lots
Client Services: Since we have introduced MT4 you can now trade fractional lots.
you: even lower than 1 lot such as 0.2 lots?
Client Services: yes
you: OK thanks
Still haven't found what I'm looking for...
  • #13
  • Nov 4, 2005 11:38am Nov 4, 2005 11:38am
Quoting Scooter
There seems to be some conflicting statements as I received the following from their on-line Chat:

Please wait for a site operator to respond.
You are now chatting with 'Client Services'
Client Services: Hello, how may I help you?
you: Hi can I do the following? Open a Standard Account with $5000, use MT4 and trade as low as 0.1 lot?
Client Services: yes
you: Really? I saw on a forum that the lowest you can trade on a standard account was 1.0 lot although with MT4 you could trade fractional above 1 lot such as 1.1 lots
Client Services: Since we have introduced MT4 you can now trade fractional lots.
you: even lower than 1 lot such as 0.2 lots?
Client Services: yes
you: OK thanks
THIS IS CORRECT. i trade fractional lots every day on this platform.
  • #14
  • Nov 4, 2005 12:09pm Nov 4, 2005 12:09pm
Quoting Wanderingwow
P.S. Have any of you Standard accounts been able to trade less than a full lot? Maybe the customer service folks don't really know.
I have a standard account at IBFX and I am able to trade fractional lots. Today I had 4 trades with .6 lots, equal to 6 mini lots. No Problem works like a charm. Now if they would get there platform from going down I would be completely happy.

Matt
  • #15
  • Nov 4, 2005 12:15pm Nov 4, 2005 12:15pm
Quoting Playmaker
I have a standard account at IBFX and I am able to trade fractional lots. Today I had 4 trades with .6 lots, equal to 6 mini lots. No Problem works like a charm. Now if they would get there platform from going down I would be completely happy.

Matt
amen to that
  • #16
  • Nov 4, 2005 2:37pm Nov 4, 2005 2:37pm
Quoting Playmaker
I have a standard account at IBFX and I am able to trade fractional lots. Today I had 4 trades with .6 lots, equal to 6 mini lots. No Problem works like a charm. Now if they would get there platform from going down I would be completely happy.

Matt
I still trade on the old version mt3 there's no problem with this version i think you should stick with the old version untill they get all the bugs out of the new version mt4
If I Go Broke Trying Then I Will die happy.
  • #17
  • Nov 5, 2005 12:02am Nov 5, 2005 12:02am
Hi James or anyone else, Im considering opening up a demo account with Interbank. How different is their version of MT4 from the standard MT4 (which i already have setup)? Is there a way of opening a demo/live account with them and still use the standard version of MT4?

thanks
Dan
  • #18
  • Nov 10, 2005 3:35pm Nov 10, 2005 3:35pm
Hi,

I'm demoing InterbankFX currently but I heard there were some issues with MT4. I contacted them and this was their reply:

Customer Support: MT 4 Issues
Customer Support: · Alerts work on mini accounts if you use the pairs that do not have a space between them and the m (use GBPUSDm for example).
Customer Support: · There is a lack of historical data.
Customer Support: · The trade window locks up only on mini accounts and seems to be related to both FXCM and 4X made easy software.
Customer Support: · Another issue that I hope is fixed now is the “live update” feature not working. I have had a few customers with this issue. You can fix it by helping them go into their Interbankfx folder and double left clicking on the “liveupdate.exe”. That seems to work.
Customer Support: · The Change Password function does not work
Customer Support: · No data in chart after download. Solution: Customer must do new chart
Customer Support: · Refresh on charts doesn’t work
Customer Support: · Exotics in terminal window not updating
Customer Support: · You can not overlap/replace charts buy dragging.
Customer Support: · In a few cases you can not modify your ticket to include a stop loss.
Customer Support: · The back tester does not work
Customer Support: · Tick window may get "waiting for update"
Customer Support: · Swap is not right in MT4 for mini accounts.
Customer Support: · It doesn't work well with Trade Station, 4xme and esignal
Customer Support: · Cannot change periodicity
Customer Support: · Market Watch does not keep pairs in the order they were set up
Customer Support: Connection problems too
you: Hmm..... I will have to demo some more.
Customer Support: yes
you: thanks
Customer Support: My pleasure, contact us anytime.

I know there are some folks on this forum who are using them with a standard account. Are you experiencing a lot of problems?

Thanks,

Scott
Still haven't found what I'm looking for...
  • #19
  • Nov 10, 2005 3:59pm Nov 10, 2005 3:59pm
Quoting Scooter
Hi,

I'm demoing InterbankFX currently but I heard there were some issues with MT4. I contacted them and this was their reply:

Customer Support: MT 4 Issues
Customer Support: · Alerts work on mini accounts if you use the pairs that do not have a space between them and the m (use GBPUSDm for example).
Customer Support: · There is a lack of historical data.
Customer Support: · The trade window locks up only on mini accounts and seems to be related to both FXCM and 4X made easy software.
Customer Support: · Another issue that I hope is fixed now is the “live update” feature not working. I have had a few customers with this issue. You can fix it by helping them go into their Interbankfx folder and double left clicking on the “liveupdate.exe”. That seems to work.
Customer Support: · The Change Password function does not work
Customer Support: · No data in chart after download. Solution: Customer must do new chart
Customer Support: · Refresh on charts doesn’t work
Customer Support: · Exotics in terminal window not updating
Customer Support: · You can not overlap/replace charts buy dragging.
Customer Support: · In a few cases you can not modify your ticket to include a stop loss.
Customer Support: · The back tester does not work
Customer Support: · Tick window may get "waiting for update"
Customer Support: · Swap is not right in MT4 for mini accounts.
Customer Support: · It doesn't work well with Trade Station, 4xme and esignal
Customer Support: · Cannot change periodicity
Customer Support: · Market Watch does not keep pairs in the order they were set up
Customer Support: Connection problems too
you: Hmm..... I will have to demo some more.
Customer Support: yes
you: thanks
Customer Support: My pleasure, contact us anytime.

I know there are some folks on this forum who are using them with a standard account. Are you experiencing a lot of problems?

Thanks,

Scott
hey scooter, the only problem i have had is a lost connection several times. they lasted 5 to 10 minutes. 1 time there was a rogue spike and they returned my account to the right place without even a phone call from me. so far i have been pleased. there does not seem to be any more problems with thier standard mt4 account than any other account i have ever had.
  • #20
  • Nov 10, 2005 5:14pm Nov 10, 2005 5:14pm
I have no idea about IBFX as a broker...however I think their demo feed is junk... over the last few weeks I have been looking at their feed in MT4...

there are tons of erratic tic's and over the last few weeks I have lost connection with the ibfx server about a hundred and fifty million times.....

ok maybe not that many but enough to make switching back to the metaquotes demo server a no brainer... since going back to the meta demo feed there has not been a single problem

i donno why ibfx would release such a sloppy work for such a serious matter.....

my .02 usd

Rgds..
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