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Couldn't close trade with IBFX

  • #1
  • First Post: Edited 6:03pm Aug 21, 2010 4:10pm | Edited 6:03pm
Interbank FX.

Waited a very long time to execute and end a trade the other night. Called on the phone....never got an answer after waiting for 15 minutes to talk to a real person. Still trade was open and I couldn't get to it. Called them the next day. They were very arrogant as usual. They said they did have a problem. I said why would I put 50k in your account if I can't close a trade or get through to a real person? (They don't have a clue...my other account is large) They were again arrogant. No desire to be fair or helpful.

Don't be fooled by their spreads....their execution is now quick when the system works. Their customer service is the worst. If it's their fault....you lose sucker!
  • #2
  • Aug 21, 2010 5:51pm Aug 21, 2010 5:51pm
Quoting cugir321
Interbank FX.

Waited a very long time to execute and end a trade the other night....
THX GOD I DIDNT OPEN ANACCOUNT WITH THEM MORE THAN 56 TRADERS SAME THING ALTHOUGH MY BROKER SPREADS ARE NOT THAT GOOD BUT THEY ARE AT MY SERVICE ANY TIME
  • #3
  • Edited Aug 22, 2010 12:01am Aug 21, 2010 9:09pm | Edited Aug 22, 2010 12:01am
Sometimes the platform will hangup if you try to close a trade manually. I don't think it just happens with IBFX either, as I've had this problem with other brokers as well.

If this happens, the best thing to do is close the program and reload it and then try closing the trade. Either that or sit there and wait. Sometimes it will close, sometimes it won't. If you have to wait more than a minute, I'd just go ahead and reload the program.
  • #4
  • Aug 22, 2010 1:21am Aug 22, 2010 1:21am
Quoting ecTrade
Sometimes the platform will hangup if you try to close a trade manually. I don't think it just happens with IBFX either, as I've had this problem with other brokers as well.

If this happens, the best thing to do is close the program and reload it and then try closing the trade. Either that or sit there and wait. Sometimes it will close, sometimes it won't. If you have to wait more than a minute, I'd just go ahead and reload the program.

They were not answering the phone either....tried to call. Was on hold waiting for someone to answer for a very long time...15 min or so. I make 5 or 6 trades a night. It didn't hang up. The connection was good.
  • #5
  • Aug 22, 2010 2:42am Aug 22, 2010 2:42am
Cugir321 do they have a minimum deposit condition. on their site they say they have no minimum but I read somewhere they have a minimum deposit before you can trade? I would like to trade with as little as $50 for a month or two before committing larger size account.
  • #6
  • Aug 22, 2010 2:52am Aug 22, 2010 2:52am
If I am to choose between ibfx and fxcm, which broker would you say is better?
  • #7
  • Aug 22, 2010 7:01am Aug 22, 2010 7:01am
Quoting Dr.PipFx
If I am to choose between ibfx and fxcm, which broker would you say is better?
IBFX
  • #8
  • Aug 22, 2010 7:21am Aug 22, 2010 7:21am
I don`t think they're bad. I've been with them for 2 years, and the only time i had a problem with closing trades was in oct 2008, when i couldn't connect to the platform. Finally i managed to close my trades through chat. I didn't call them because english is not my mother tongue. As it turned out, the problem was with my Internet provider, there were some blocked ports.

Whenever i chatted with their support, they were very polite. Even when i accused them that their newly introduced card for withdrawals is nothing more than a marketing gimmick.
The worst thing I can be is the same as everybody else. I hate that.
  • #9
  • Edited 7:40am Aug 22, 2010 7:27am | Edited 7:40am
do they have minimum amount condition to start trading for mini account? with oanda and FXCM one can trade with as little as $1 and $25 respectively.
  • #10
  • Aug 22, 2010 10:26am Aug 22, 2010 10:26am
Quoting cugir321
The connection was good.
If it's a platform issue (a snag in the software somewhere) it's not a connection issue, and the program needs to be rebooted. I don't know how many times this has happened to me, at least 20-30 times, but it almost always corrects it once I reboot.
  • #11
  • Aug 22, 2010 10:31am Aug 22, 2010 10:31am
i wouldn't say they're a bad broker, but they're definitely not the best!

personally i'm very happy with fxopen.
Enter Signature
  • #12
  • Aug 22, 2010 10:32am Aug 22, 2010 10:32am
Quoting cugir321
Don't be fooled by their spreads....their execution is now quick when the system works. Their customer service is the worst. If it's their fault....you lose sucker!
hehehehe!
Enter Signature
  • #13
  • Aug 22, 2010 1:05pm Aug 22, 2010 1:05pm
Quoting vosterfxandy
personally i'm very happy with fxopen.
Do they allow hedging?
  • #14
  • Aug 22, 2010 1:57pm Aug 22, 2010 1:57pm
When you can't close a trade on your PC and they don't answer their phone then that's called very bad customer service! I have a mobile PDA....that didn't close it either! Was on hold waiting for someone to answer for a very long time...15 min or so. No one answered in live chat.

They are sweet as a peach until it has to do with your money in their hands.

I can deal with stop hunting, rude ass holes....no phone service when I can't close a trade with a PDA or PC is not acceptable. When they admit a problem and tell you it's your loss...that's where my big money goes elsewhere. When I called the next day they basically said....You poor sucker!

I believe you can open an account with less then 100.00. Why? Use a demo.

They don't have micro anymore.

You'll be on the short end of the stick with them eventually. I won't forget it. They get zero major money from me now.
  • #15
  • Aug 22, 2010 6:24pm Aug 22, 2010 6:24pm
I've never had a reason to call them myself, although I don't place many trades with them anymore. I'm looking for a broker that allows hedging where I can open mini account.
  • #16
  • Aug 22, 2010 8:43pm Aug 22, 2010 8:43pm
Quoting cugir321
When you can't close a trade on your PC and they don't answer their phone then that's called very bad customer service!...
You have cleared many questions. thanks. but if they have no micro or nano lots then they wont get my money. I will try to chat with them today.
  • #17
  • Aug 22, 2010 9:20pm Aug 22, 2010 9:20pm
I suggest you to report this matter to NFA to handle. But i believe they usually will side the broker instead. If you want justice to be done, advertise this matter to the public yourself. This will definitely tell the people in the world to wake up and look at these scam brokers.
  • #18
  • Aug 23, 2010 9:46pm Aug 23, 2010 9:46pm
I thought this kind of delaying for closing orders only happen to market makers?
Interbankfx claim they are STP, so are they lying to us? Should we report them to NFA or even the US government about this? These brokerage firms are eating up commoners money. We gotta do something
  • #19
  • Aug 23, 2010 10:02pm Aug 23, 2010 10:02pm
Quoting sg_trader
I thought this kind of delaying for closing orders only happen to market makers?
If they are market makers AND they use Metatrader you can be sure that you will see delaying executions, slippage against you, spikes and SL hunting.

MT4 Virtual Dealer Plugin approves this post
  • #20
  • Aug 23, 2010 10:39pm Aug 23, 2010 10:39pm
will this happen to mbtrading? They uses MT4 too
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