Broker gone to the dark side

- I don't see any logical reason for the 5th decimal symbol except for marketing.
- Market Orders smell fishy, too. They will be able to fill you at whatever price they want.

So far I have been a happy customer but now I am worried again. Might need to look around for a new broker.

hmmnnnn...

first of all, thanks for this as I had missed it somehow in the blitz of webinar notifications and "look at us" marketing award news they constantly bombard me with...

secondly... me worried to. i hate that 5 decimal crap.

i too have for the most part been satisfied with them... but this will bear close watching and some potentially hard choices to be made after 4 yrs with them...

todd? you listening?

I'm writing to subscribe as I want to keep an eye on this. I have been considering them. Now, not so much.

IBFX now officially gone to 5 digit pricing on Live accounts with no option to stay with 4 digit.

Summary of their notice to clients ((in my own words))...

sucks to be you if you don't want 4 digits...

sucks to be you if your ea's don't work anymore...

sucks to be you if have a hard time getting used to the new system and blow trades trying to figure it out...

sucks to be you if don't want to have to figure out which .00001 of a pip we're going to miss your entries and TP's by ...

sucks to be you if you think we care...

sucks to be you if you don't believe this is an improvement, etc.


My "hit and run" higher leverage technique demo trading on this thing was so bad trying to figure it out last week, I'd be an Idiot to do it live... But I bet IBFX and and Todd would love it if I did.



They just got thru telling me on the phone... "good luck finding a 4digit borker anywhere..." Well fxsolutions is 4digit on EU, the only pair i really trade or worry about and they said they have no plans to go 5 digit. They have a 3pip spread ((vs 2 pips)) which bites but since i use their charting package anyway and love it, IBFXucks has given me the incentive i need to make the move and put everything under one roof....


Now to just do it.... arrgghhh.

I think this sums up the sentiment.

http://rlv.zcache.com/warning_genera...29qibm_400.jpg

Amen brother... amen.

another case of thread name being changed to protect the borkers which is ok I guess, the FF has to walk a line and I understand that.

So the said "Borker" whose name used to be in the thread title and whose initials are IBFX have just slipped my posted SL's and TP's 10 times out of 10 trades in their favor during typical mid asian session PA...

The drone on the customer service end replied in a rehearsed monotone that is due to their "next available price" policy which i do understand, but was not aware I should expect it to be applied 24/7 in a non news or announcement trading environment.

It's just a crap shoot now with them, and if I'm going to have to go that route, I'll do it with a borker who's been doing that it way all along and whose track record can be attested to by a much larger and established group of traders.

So I'm pretty much out of the trading biz till I find that New borker but with Cargo intact...

Cargo, hat and most important...

http://fundater2000.choseit.com/file...fice-space.jpg

Watch out for your cornhole bud!

Little update... I hate change, I'm trying hard to get the hang of this thing as it may be the Future for all I know, and so I sucked it up and am still trading some IBFX funds on a limited basis.

Here's the thing... I just got an email within the last couple days finally announcing 5 digit support for EA's (which i don't use anyway) BUT today my last 4 trades appeared in the Order box with 5 digits but then posted in the Terminal not with 4 digits, not with 5 digits, but with 6 freakin digits to the right of the decimal...

I called and asked Client Support if I should be on the lookout for a 7th or maybe even 8th digit and the guy said No he didn't think so.... Ya Think??

For a minute when I first saw it I thought my platform was trying to compute the value of pi or something. When I try to see the price now, my eyeballs glaze over and start vibrating...

Jesus Tapdancing Christ!

http://cdn.forexfactory.com/attachme...1&d=1277965314

How far can one break down a pip? Pip then pipettes, then pipipettes then pipipipettes and so on?

My broker GFT is pushing the 5th decimal next month or so. Not entirely happy about it and have voiced my opinion to them about it. There will be no 4 decimal option available once 5th decimal is introduced. I've yet to be told a valid enough reason for the change other than, it will give better, accurate pricing. If GFT or any broker wanna offer better pricing, how about lowering the spread to a permanent 0 pips. Not altering the pricing structure.

One has to wonder as the true reason for 5th decimal. It seems this is only happening to US originated brokers and as we all know US brokers tend to be the most dishonest. Anyway, I'll give this 5th decimal a try when it's implemented but off the first bat I'm disgusted with it, I have an IB account to where I'll move all my funds in addition to opening another 4th decimal account with a broker overseas. GFT use to lead the way in brokering and did not follow any MT4 brokers. I have doubts about GFT following MT4 brokers. If GFT is looking for a model to follow, how about following IB and/or Futures Brokers ways of doing things.

I don't know about dishonest. I've seen plenty of borkers in other parts of the world where the domain was bought two weeks before some "client" all gung-ho about it would tell how happy they were about them. The phone number would be in America and pointing to some snack bar with the mailing address in Azerbaijan, etc...

But I digress.

Dishonest is up for debate. But over regulated isn't. Could it be something in some dark corner of some new legislation?