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Interbank FX. The most reliable MT4 broker around?

  • #41
  • Nov 29, 2009 2:23am Nov 29, 2009 2:23am
Quote
Can anyone who has actually been trading over the past couple of weeks in a real account at InterbankFX confirm their statistics that they show on their web site:

The 2nd column in the spreads list looks about right if you round it up. Ie: 1.9 = 2, 2.6 = 3, etc

Rejected orders, 2.6% is probably about right for a straight rejection. Requotes, eh, I get between 5% and 10% requotes.

For weekly average uptime, it's much lower than 99.9988%, lol. 99.9988% would be like 6 minutes a year.

I noticed they have the caveat "Does not include scheduled maintenance." If you include all downtime, I get about an hour or two a week.

As for execution time, it seems a little slower than that (prolly 2 seconds), ut it's hard to tell. My ping to the servers isn't that hot.
  • #42
  • Nov 29, 2009 2:36am Nov 29, 2009 2:36am
Nothing bad to say about them and I've been trading with this broker in the last 2 years.
I am a winning trader as I already have 5 years of experience in the markets and I saw nothing that IBFX would do against winning traders.
But considering that I trade from daily charts and up, who knows what might be happening on the lower timeframes...
The cash withdrawal process is very easy and they respond to your withdrawal request promptly so the wire transfer reaches my bank in Europe in about 48 hours.
About the spreads... yes, I don't remember to have seen 1 pip in EUR/USD or 2 pips in GBP/USD and sometimes during low liquidity or high volatility the spreads grow consistently but for my trading style it's not a problem.
About network uptime - no problem with that and about requotes - yes, sometimes it happens, just take as it is. If you blame your losing trades on requotes than you already have a problem outside the broker's quality; requotes shouldn't be a problem.
Overall my experience with IBFX would be rated to 4 stars ****
  • #43
  • Nov 29, 2009 2:51am Nov 29, 2009 2:51am
I trade with IBFX on a live account. The spreads are a lot less in normal trading times than before, I have an indicator that shows me the spread on the chart and their spread for instance on GBP/USD used to be fixed at 4 (apart from news times etc) and it now varies with a maximum of 4 at normal times. I have had the spread as low as 2. GBP/JPY used to be 7 and I have mostly seen it 5/6. The only times I have seen spread widening is high risk news, at 10pm GMT for around 15 minutes (when US first closes), Sunday evening when the market first re-opens (for around the same amount of time) and US holiday times like it was on Thanksgiving after 5pm GMT when London closed. I just avoid those times.

No problems with re-quotes at all apart from when price is moving extremely fast (I don't trade news). No connection problems whatsoever. No problem setting a stop loss on the terminal, I have had price go to within 1 pip of my SL and its not been hit and has then carried on to profit. So all in all, I'm happy with them.
  • #44
  • Nov 29, 2009 3:22am Nov 29, 2009 3:22am
I'm having a live account for quite some time now and never had to complain about anything. Spread on the EUR/USD is most of the time 2 sometimes 1. The highest spread I'v seen was 5 at times usually during Asian Session. This is when spread becomes 2 even on MB Trading. I don't really care about spread.
My Limit and Stop orders are always executed instantaneous to the pip (0.9ms might be right I belive it's a bit faster 400ms maybe). Never seen any abnormal price spikes always getting into the market even during news. Never had any suspicous server downtimes.

Not that I want to promote anything but for those who want to hear the truth it might be interessting.
  • #45
  • Nov 29, 2009 9:41am Nov 29, 2009 9:41am
Quoting Tjpld
I'm having a live account for quite some time now and never had to complain about anything. Spread on the EUR/USD is most of the time 2 sometimes 1. The highest spread I'v seen was 5...
NEVER? Not one "mystery Spike"? Is this the same IBFX located on planet earth?I have witnessed their stophunting more than a dozen times and the smallest spike was 50 pips/largest over 300 pips. The only positive thing I could say about IBFX is when I closed the account my funds arrived in 3 days by check. This was back 2008/June. Hands down one of the worst American Brokers still in business-IMO.
FF = Forex Faggots
  • #46
  • Nov 29, 2009 9:46am Nov 29, 2009 9:46am
Never had a live account with IBFX, but a few years back I wasn't impressed at all with the execution of their MT4 demo platform. If they can't get execution right on their demo, I'd hate to see how well they handle the live execution of trades. When I inquired about this their support guy was rather rude.

Because of that experience I chose to business with other brokers.
  • #47
  • Nov 29, 2009 9:51am Nov 29, 2009 9:51am
Quoting Takisd
Yes newbie folklore. Their reputation is garbage. The only thing keeping them a float is NFA status, and now that that is worthless, they have gone to the UK.


I left them 3 yrs ago, because everytime a position went near a stoploss, I got odd spread changes by 5-10 pips,


Good day.
don`t know where`d you get that from, but from where i stand, ibfx has a very good reputation among mt4 platforms, surely they are in top 5.
Do you find it a bad thing that they`re opening an UK branch ? you`re talking as if they open an office on some god forsaken island
i`ve been with them for a little over a year, and didn`t have any of the problems you`re mentioning.
The worst thing I can be is the same as everybody else. I hate that.
  • #48
  • Nov 29, 2009 10:40am Nov 29, 2009 10:40am
Quoting GubyIQ
don`t know where`d you get that from, but from where i stand, ibfx has a very good reputation among mt4 platforms, surely they are in top 5.
Do you find it a bad thing that they`re opening an UK branch ? you`re talking as if they open an office on some god forsaken island
i`ve been with them for a little over a year, and didn`t have any of the problems you`re mentioning.
i agree, i know for fact they are avery good broker, i took a 5k account well over 100k and never once did i see any kind of games these people are talking about. you will always have traders who can't trade and don't make money in this business blame there broker for every little thing.
  • #49
  • Nov 29, 2009 11:32am Nov 29, 2009 11:32am
Quoting BiggerPips
i agree, i know for fact they are avery good broker, i took a 5k account well over 100k and never once did i see any kind of games these people are talking about. you will always have traders who can't trade and don't make money in this business blame there broker for every little thing.
ROFL-at u!
FF = Forex Faggots
  • #50
  • Nov 29, 2009 11:35am Nov 29, 2009 11:35am
Quoting 8fingers
NEVER? Not one "mystery Spike"? Is this the same IBFX located on planet earth?I have witnessed their stophunting more than a dozen times and the smallest spike was 50 pips/largest over 300 pips. The only positive thing I could say about IBFX is when I closed the account my funds arrived in 3 days by check. This was back 2008/June. Hands down one of the worst American Brokers still in business-IMO.

Nope never. There is no reason why I shouldn't tell the truth.
Sometimes I even use tight stops (25 Pips on EUR/USD) which should be like a big red bullseye for Brokers if you belive
all that StopHunting nonesense.

@GulfCoastPip

LOL Come on. No broker cares about their demo servers.
Judging a broker by its demo is redicoulus. Think about their server load
on Demo compared to live servers. Everyone has one or two IBFX demos even those with live accounts. They have have about 100 times as many demo accounts as they have live accounts probably.
  • #51
  • Nov 29, 2009 12:56pm Nov 29, 2009 12:56pm
Quoting Tjpld
Nope never. There is no reason why I shouldn't tell the truth.
Sometimes I even use tight stops (25 Pips on EUR/USD) which should be like a big red bullseye for Brokers if you belive
all that StopHunting nonesense.

@GulfCoastPip

LOL Come on. No broker cares about their demo servers.
Judging a broker by its demo is redicoulus. Think about their server load
on Demo compared to live servers. Everyone has one or two IBFX demos even those with live accounts. They have have about 100 times as many demo accounts as they have live accounts probably.
Totally agree with all that. I have never had any mysterious spikes at all. I would call it mysterious if it didn't show on another broker and I have never had that happen live.
  • #52
  • Nov 29, 2009 1:01pm Nov 29, 2009 1:01pm
Quoting Tjpld
Nope never. There is no reason why I shouldn't tell the truth.
Sometimes I even use tight stops (25 Pips on EUR/USD) which should be like a big red bullseye for Brokers if you belive
all that StopHunting nonesense.

@GulfCoastPip

LOL Come on. No broker cares about their demo servers.
Judging a broker by its demo is redicoulus. Think about their server load
on Demo compared to live servers. Everyone has one or two IBFX demos even those with live accounts. They have have about 100 times as many demo accounts as they have live accounts probably.

You missed the point about the support tech being rather rude also. Since then I've used MBT and OandA. Rather happy with both, use only OandA now though. MBT started having some disconnect issues with their platform, which is probably resolved by now from what I've seen.

I've said this before and will say it again. When it gets right down to it though, all are bucket shops some just have more shit in their bucket!



If you or anyone else is happy with IBFX.....GREAT! I wasn't for the reasons stated. Perhaps my standards are different than yours. Who cares. If you're happy with IBFX then great, if not continue doing your own research and make your own decisions...I made mine.
  • #53
  • Nov 29, 2009 2:17pm Nov 29, 2009 2:17pm
hey hyper......

Quoting Hyper
So all the negative things you said about them may be out-of-date. Things can change a lot in a matter of years or months. Good brokers can become bad, bad brokers can become good.

Can anyone who has actually been trading over the past couple of weeks in a real account at InterbankFX confirm their statistics that they show on their web site:
//-----

that's an excellent point about being out of date......

yes, those statistics look okay to me.....

//----

it's not uncommon for me to have several hundred open orders with ibfx, 244 right now....

last week i had several "ordermodify" fail due to trade context busy.... that should be expected with hundreds of orders from different ea's , trailing stops, different pairs and the like..... ....

several inital orders failed due to "hedge prohibited"..... that should be expected when running ea's on different timeframes....

all in all, last week everything seemed ok.... and the week before .... and the week before.....

my expierence is limited to ibfx, and without a doubt they have improved over the years..... as you so well put, some "negative things may be out-of-date"......h
to trade and code, keep both simple... no call to impress....h
  • #54
  • Nov 29, 2009 3:38pm Nov 29, 2009 3:38pm
Quoting Tjpld
Nope never. There is no reason why I shouldn't tell the truth.
Sometimes I even use tight stops (25 Pips on EUR/USD) which should be like a big red bullseye for Brokers if you belive
all that StopHunting nonesense.

@GulfCoastPip

LOL Come on. No broker cares about their demo servers.
Judging a broker by its demo is redicoulus. Think about their server load
on Demo compared to live servers. Everyone has one or two IBFX demos even those with live accounts. They have have about 100 times as many demo accounts as they have live accounts probably....

Hey Bro-just stirrin the pot-truth be told your posts always tell it like it is. Its been more than 1 1/2 years since i cancelled account with IbFx and I am sure it has to better now than then or they would be history by now. Its just my dislike of All Brokers still unlucky enough to be based in the USA. The one and only time these mystery spikes effected my account they(IBFX) were quick to right the wrong. Of course,had I not complained, they would have kept my money-IM SURE. My experience was below "average" with this outfit in all areas of measure-exception being withdrawls(never one problem).
FF = Forex Faggots
  • #55
  • Nov 29, 2009 5:43pm Nov 29, 2009 5:43pm
speaking of infamous spreads, here is something i wrote long ago to check spreads.... it runs all day every day.... checks current, max and minimum.......

spreads used to be terrible at the markets opening as seen in the first picture.... hard to deny today's, just minutes ago, looks far better.....

many pairs that i would never touch before due to the spread, are now within reach......h
Attached Image(s) (click to enlarge)
Click to Enlarge Name: max spreads.gif Size: 30 KB
Click to Enlarge Name: 525.gif Size: 23 KB
to trade and code, keep both simple... no call to impress....h
  • #56
  • Nov 29, 2009 7:15pm Nov 29, 2009 7:15pm
Quoting 8fingers
ROFL-at u!
  • #57
  • Nov 29, 2009 7:27pm Nov 29, 2009 7:27pm
Dont cry Biggerpips-I have your lollypop too.
FF = Forex Faggots
  • #58
  • Nov 30, 2009 3:29am Nov 30, 2009 3:29am
Quoting hayseed
yes, those statistics look okay to me.....
But how about the 972 microsecond execution duration? Is an execution duration under 1 millisecond true and realistic? Or is Interbank FX showing false information?
  • #59
  • Nov 30, 2009 6:03am Nov 30, 2009 6:03am
Quoting Hyper
But how about the 972 microsecond execution duration? Is an execution duration under 1 millisecond true and realistic? Or is Interbank FX showing false information?
It depends on what you are asking. After the order reaches them then they execute it in 972 microseconds, but remember there's a lot of equipment and wire between you and the broker. How many hops does the order have to go through to reach it's destination, in some cases that could take more than a second or more, depending in internet traffic. I'm sure some of the brokers got better as the internet got better. The US doesn't have the best internet service in the world - far from it - it's run by the phone companies who are always complaining about having to upgrade.
  • #60
  • Nov 30, 2009 7:43am Nov 30, 2009 7:43am
hey hyper.... for a microsecond lets assume big brother nfa is doing a good job monitering ads such as these..... we would really need to know ibfx's definition of order execution time, ie where does it begin, where does it end..... if were not true, in nanoseconds the ad would have been pulled down by nfa......

//----
//---- ok, microsecond is up..... now back to reality

the speed of execution might be less important than the expected price at execution.... a fast order that had slippage might be worse than a slow order that closed at your expected price....

my number of open orders expanded to well above 300 last night.... many have the same target price so they close in groups..... it's not uncommon for dozens to close at the exact same price, so they close fast enough that the market did not move .....

last night 14 eurusd closed at 1.5033.... several other smaller groups on other pairs closed at their exact expected price......

this will go on all week..... and next week ..... and the next.....

//------

i belong to a few of the worlds most aggressive private forex groups.... we are 100% committed to the subject..... it's what we do all day every day.... believe me, these guys have harse opinions when it comes to brokers..... they do not mince words and our opinions/choice of brokers vary widely.....

but we all stay focused on the expected price...... both entry and exit.....h
to trade and code, keep both simple... no call to impress....h
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