how good is interbankfx

EUR/USD -24.70 for a long and 9.10 for short, and AUD/JPY -8.89 -4.22

I know interbank interest rates are volatile but jeez!

Rates have changed yet again....and not in our favor needless to say.

Dear Customer,

New swap rate changes below. Changes will be in effect immediately.

Standard Mini
Symbol Buy Sell Symbol Buy Sell
AUD/CAD -$2.41 -$13.38 AUD/CAD -$0.24 -$1.34
AUD/CHF $0.78 -$14.71 AUD/CHF $0.08 -$1.47
AUD/JPY $2.30 -$21.94 AUD/JPY $0.23 -$2.19
AUD/NZD -$13.95 -$5.45 AUD/NZD -$1.40 -$0.55
AUD/USD $0.10 -$11.30 AUD/USD $0.01 -$1.13
CHF/JPY $3.27 -$15.92 CHF/JPY $0.33 -$1.59
EUR/AUD -$19.04 -$6.32 EUR/AUD -$1.90 -$0.63
EUR/CAD -$3.45 -$10.19 EUR/CAD -$0.35 -$1.02
EUR/CHF $2.21 -$12.55 EUR/CHF $0.22 -$1.26
EUR/DKK -$9.16 -$21.73 EUR/DKK -$0.92 -$2.17
EUR/GBP -$10.18 -$3.86 EUR/GBP -$1.02 -$0.39
EUR/HKD $4.54 -$15.36 EUR/HKD $0.45 -$1.54
EUR/JPY $4.90 -$25.37 EUR/JPY $0.49 -$2.54
EUR/NZD -$23.91 $3.88 EUR/NZD -$2.39 $0.39
EUR/USD $1.00 -$6.50 EUR/USD $0.10 -$0.65
GBP/CHF $4.96 -$22.19 GBP/CHF $0.50 -$2.22
GBP/JPY $8.43 -$38.70 GBP/JPY $0.84 -$3.87
GBP/NZD -$28.68 -$1.03 GBP/NZD -$2.87 -$0.10
GBP/USD $3.40 -$14.40 GBP/USD $0.34 -$1.44
NZD/CHF $5.58 -$14.91 NZD/CHF $0.56 -$1.49
NZD/JPY $6.88 -$21.09 NZD/JPY $0.69 -$2.11
NZD/USD $5.00 -$12.00 NZD/USD $0.50 -$1.20
USD/CAD -$3.23 -$2.68 USD/CAD -$0.32 -$0.27
USD/CHF $0.88 -$4.40 USD/CHF $0.09 -$0.44
USD/CZK -$5.54 -$4.43 USD/CZK -$0.55 -$0.44
USD/DKK -$7.38 -$11.07 USD/DKK -$0.74 -$1.11
USD/JPY $2.84 -$13.71 USD/JPY $0.28 -$1.37
USD/MXN -$13.62 $6.93 USD/MXN -$1.36 $0.69
USD/PLN -$10.12 $2.02 USD/PLN -$1.01 $0.20
USD/SGD -$4.14 -$13.79 USD/SGD -$0.41 -$1.38
USD/ZAR -$33.10 $26.00 USD/ZAR -$3.31 $2.60

IBFX

I have a ibfx account and for the most part have been happy. Yesterday I had a rather strange occurrence though. I had a short trade on the eur/usd that went over the posted tp in my acct history window by one pip and didn't trigger. It came back about 10 minutes later and and missed the sp by one pip and it did trigger.

Support claims that it is the 2 pip spread. It was my understanding that the spread was built into the numbers that are displayed in the order.

Does anyone know the answer to this?

Thanks

No.

If the spread is 2 pips, then the price must go through your TP by at least 2 pips in order to exit you in profit. Opposite is true with your stop loss. Price only has to go within 2 pips of your stop loss in order to exit you in a loss.

Just pad your take profit and stop loss points by the spread plus a few pips to play it safe. However, you will still notice that the price always seems to just barely miss your take profits and just barely stop you out.

Is this Murphy's Law or broker manipulation? I think its a factor of both.....

I am starting lean towards the broker manipulation side. This is the third time in as many months that I have missed my tp by one and just hit my sp.

Time to look for a new broker.

Time to study how fixed spreads work.
When you buy, you buy at the ask and when you sell, you sell at he bid.
If you think where bid and ask were at the moments the tp was missed and the sp was hit, you'll find that was normal.

Sounds like it's your trading strategy that has a problem, not the broker ...

If you actually read my comments you would of seen that it wasn't a matter of not understanding how a spread works,. It was a bad assumption on my part that the spread was reflected in the acount history numbers. By any chance are you employed at ibfx?

On a different note, right on the heels of the stop hunting yesterday they threw in a re-qoute this morning that caused my ea to stop trading. I should of been short on the eur/usd at 6:45 this morning. Consequently I missed out on a 200 pip move.

One last $25 fee to get my money out.

Bye Bye IBFX

Lol, me working at IBFX, no way, IBFX sucks!

What I was trying to say is yes, ibfx sucks, but the examples you reported are absolutely normal. You'll find spreads and requotes on every other broker, I can assure you, they are intrinsic in the forex market. That's part of the game. I mean you should not blame the broker when all you have to do is accept the reality and adapt to it.

If you don't take responsability of everything, you'll never find a satifying broker, but if you do then you can pull money out of every broker.

Peace.

Hi Guys!

Actually INFX is trying to alter their approach to their clients in a vile fashion. So far alt elast stops (I mean hard SLs) were met. Today they told me, after passing a stop on the opening of the market buy a lazy 400 pips, that this was normal and that they had not met those stops for 2 years.
BS... the have so far met those SLs in hundreds of cases, otherwise my EA would have ripped me off badly with a wide array of trades.
They now even want some money back... although they had all chances in the world to brace themselfves for this, if they needed to.
To be honest: I strongly recommend people to leave this broker, as they cannot live up to their own promises right now and seem to be in major trouble. Otherwise this sudden shift of policy is not understandable. I will wait for their lawyers to sort out how to make me pay this.

There are others brokers out there and they are by far better by now! And if I see Rob Booker's newsletter for them I could honestly barf!

Ciao!
Gnat

I am going to close my acct with Interbank Fx....their spreads are absolutely HUGE>>>>>>take your business elsewhere.....when you call their toll free number it often says there are technical difficulties....they don't want to talk.....what a sorry excuse for a broker....

You put it very bluntly here, but in fact you seem to be right. I have never seen a broker turn to the worst in such a short period. I will close all 5 accounts with them.

I have applied for ibfx mini account. I will trade micro lots there. Is there any forex trader on this forum who trades micro lots will ibfx. Please share your experiences.

I've been with them about a year. Their spreads have come down in the last few months. The execution as been fast. News times have been good. Spread is consistent lately.

Now the bad stuff....they basically say FU when there's a problem. The switch over to 5 digits was horrible. They couldn't care less if you lost money in process. The other night you couldn't execute or end a trade for about an hour. I couldn't get anyone on the phone. I'm not giving them my big account. Interbank sucks!!! They were better when the spreads where big and the news was wild.

AMEN http://www.simonerossi.it/faccine/papa.gif

i used to be with ibfx for almost a year, in those times spreads were high and there were so many requotes .... all the times, in the end i got fed up and left,

i signed up with fxpro and have been with them and am much more satisfied here than i ever was at ibfx. The only problem is fxpro dont have anything lower than a minilot so if you want to test a new strategy on a small live a/c and would like to use 10 cents a pip its not possible.

i trade micro lots with them..well, i heard a lot of complaints with ibfx but i guess i am just lucky enough not to experience their problems. .l

by the way i am using scripts to have an order,move to be,move sl, or move tp..that means i only drag it to the chart and viola, have my order.. by least it lessens the time i am ordering..

I got mail from them confirming that I can trade with less than $100 which means micro can be traded. Thanks kasterpogz you cofirmed it.

I been with IBFX for a little over 12 months and I have found them to be OK, but I have notice them getting worse over the last few months.

no problem.. i wonder why you email them if you can jst chat with their representative.