IBFX UK branch to open | Forex Factory

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IBFX UK branch to open

  • #1
  • First Post: Edited 4:32pm Nov 9, 2009 3:56pm | Edited 4:32pm
According to the IBFX rep. I spoke to today, IBFX will be opening a branch in the UK and it will be available to US. citizens. We should be notified on the progress of the new branch sometime in the next 7-10 days according to the rep.. He said it will offer 400:1 leverage. He said the process is well underway and should be available by the end of the year.


Don't get your hopes up . The rep. I spoke to tonight is giving me different information. Not sure if it will be available to US. citizens and might only be 200:1 leverage.
  • #2
  • Nov 9, 2009 4:32pm Nov 9, 2009 4:32pm
Quoting Toothman
According to the IBFX rep. I spoke to today, IBFX will be opening a branch in the UK and it will be available to US. citizens. We should be notified on the progress of the new branch sometime in the next 7-10 days according to the rep.. He said it will offer 400:1 leverage. He said the process is well underway and should be available by the end of the year.
That solves a problem for me then. I would hope I can just transfer my balance from the States straight to the UK office.

I just tried the chat on their site but they've gone home - so much for a 24-hr market .
PS You got your edit in before I posted!
  • #3
  • Nov 9, 2009 5:21pm Nov 9, 2009 5:21pm
Must be nice that IBfx willing to establish a UK presence to offer 400:1 leverage for its customers. My broker has presence in the UK, and because I live in the US they are unwilling to move accounts over because I am a resident of the US. Though, I love my broker ... I think that rule is unfair. Don't punish me because I live in the land of the ignorant (NFA).
  • #4
  • Nov 11, 2009 9:25pm Nov 11, 2009 9:25pm
Thats really nice to hear that they will open in UK. I think there will also be added more Withdraw methods

Regards
  • #5
  • Edited 9:30am Nov 14, 2009 9:20am | Edited 9:30am
Of course according to this post here, there is nothing that says they have to be registered with the NFA. So, if they are opening a branch in the UK, and it's because of the new NFA ruling, then why are they doing it? Why don't they just drop their membership with the NFA? That would indeed seem like the popular thing to, with all the ill-will towards the NFA nowadays ... rather than "pretend" the NFA has all this power when, in fact they don't.
  • #6
  • Edited 5:51pm Nov 14, 2009 5:48pm | Edited 5:51pm
UK and some other foreign brokers don't take US clients because of the NFA, its because of all the nit picky laws and regulations the US government requires, i.e. paperwork, that they must do in order for them to take on US citizens. Things got much worse for them when the Patriot Act became law too. They just don't wanna deal with it.
  • #7
  • Dec 2, 2009 4:22pm Dec 2, 2009 4:22pm
I'm not a broker...I'm a retail trader....I'm not under nfa rules....but the simple fact is because i'm a U.S. citizen I can't use an overseas company, like Alpari for example....Also Nordmarkets, another overseas company, will not allow you to use the Mt4 platform if you are a U.S. citizen.....discrimination is an awful thing.
  • #8
  • Dec 2, 2009 5:05pm Dec 2, 2009 5:05pm
Quoting LeemiceTer
I'm not a broker...I'm a retail trader....I'm not under nfa rules....but the simple fact is because i'm a U.S. citizen I can't use an overseas company, like Alpari for example....Also Nordmarkets, another overseas company, will not allow you to use the Mt4 platform if you are a U.S. citizen.....discrimination is an awful thing.
Hey All,

I'm relatively new here (Abby- employed by Interbank FX)- but wanted to let you in on the official news of our UK company. We're really excited-- and will continue to feed updates. Check it out: http://corporate.ibfx.com/post/2009/...of-Office.aspx
  • #9
  • Dec 2, 2009 5:09pm Dec 2, 2009 5:09pm
Maybe you didn't spot this question in the other IBFX thread.

A quick question, Abby...
I spoke to your support guys today and understand that you'll be in the UK in 3-4 months.

I assume I'll be able to transfer my live US account straight into the new UK setup and will there be any costs incurred - same as if I was making a withdrawal.
  • #10
  • Dec 3, 2009 5:37am Dec 3, 2009 5:37am
Quoting Abigail
let you in on the official news of our UK company.
Hey Abby, this is good news. I was on the verge of closing my account with IBFX purely of all the NFA crap and opening with a UK based company.

I already disccused it with the Financial Manager of the house (my Wife )

I supposed that there is no definite Time Frame on this yet?
  • #11
  • Dec 3, 2009 6:48am Dec 3, 2009 6:48am
nowhere does it say US customers can join.It looks like everyone else has been invited though. Does anyone know why we(Americans)are being denied offshore Forex investing?
FF = Forex Faggots
  • #12
  • Dec 3, 2009 7:41am Dec 3, 2009 7:41am
Only reason for me to move would be better server latency. I don't need to hedge or 400:1 leverage.
  • #13
  • Dec 3, 2009 3:30pm Dec 3, 2009 3:30pm
"Hi Peter,
We do plan to open Interbank FX UK in the upcoming months. Although we haven't worked out all details of our account transfers, I'll make sure that when plans are finalized to let you know all details~ as well as the rest of the Forex Factory crew. Thanks!"
Quoting PeterFM
Maybe you didn't spot this question in the other IBFX thread.

A quick question, Abby...
I spoke to your support guys today and understand that you'll be in the UK in 3-4 months.

I assume I'll be able to transfer my live US account straight into the new UK setup and will there be any costs incurred - same as if I was making a withdrawal.
  • #14
  • Dec 3, 2009 5:05pm Dec 3, 2009 5:05pm
Why no mention if USA based traders will be welcomed? I wonder if even former USA based brokers are setting up branches overseas just in case they too need to bail on the US Forex scene?
FF = Forex Faggots
  • #15
  • Dec 3, 2009 11:20pm Dec 3, 2009 11:20pm
Quoting 8fingers
I wonder if even former USA based brokers are setting up branches overseas just in case they too need to bail on the US Forex scene?
Options. It's all about having options, and Mr Crosland is no dummy.
  • #16
  • Dec 4, 2009 5:17am Dec 4, 2009 5:17am
It seems like some UK brokers allow US citizens...and some don't. I guess if its a matter of complying with US laws for paperwork...in theory that should not be a problem for IBFX, since they already do that...so their policy and procedures might not need to change.

I sure hope that a US citizen can transfer to their UK branch, if they are able to offer the same leverage options that they did here in the US....

I just like the option...the choice...to trade at the higher leverage.....

Able to make more with less......and if I have losses...the smaller amounts dont kill me as much....able to test out strategies live for only pennies....

Ciao...

BP
  • #17
  • Dec 4, 2009 2:35pm Dec 4, 2009 2:35pm
FX1618-- In terms of the timeframe of our Interbank FX UK company, we're hoping to open mid February/early March, but of course this can be subject to change.Our FSA application has been filed and I will send you updates as soon as we know a more accurate timeline. Have a great weekend- and I'm happy to hear you're considering staying with us... great news!

Abby

Quoting Fx1618
Hey Abby, this is good news. I was on the verge of closing my account with IBFX purely of all the NFA crap and opening with a UK based company.

I already disccused it with the Financial Manager of the house (my Wife )

I supposed that there is no definite Time Frame on this yet?
  • #18
  • Dec 4, 2009 2:49pm Dec 4, 2009 2:49pm
The only thing that would make me move my account the the UK Department would be EURO based accounts. I bet thousands of traders would love that.
  • #19
  • Dec 4, 2009 6:41pm Dec 4, 2009 6:41pm
Quoting Abigail
FX1618-- In terms of the timeframe of our Interbank FX UK company, we're hoping to open mid February/early March, but of course this can be subject to change.Our FSA application has been filed and I will send you updates as soon as we know a more accurate timeline. Have a great weekend- and I'm happy to hear you're considering staying with us... great news!

Abby
Abby,
Yes or no. Will US. citizens be allowed to open accounts with IBFX UK.? If yes, will they still be offered the 400:1 leverage and nano lots? Thank you.
  • #20
  • Dec 5, 2009 3:38am Dec 5, 2009 3:38am
Quoting Toothman
Abby,
Yes or no. Will US. citizens be allowed to open accounts with IBFX UK.? If yes, will they still be offered the 400:1 leverage and nano lots? Thank you.
I guess no one can say this at this point.

What do you need 400:1 for? A server based in the UK would be much better.
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