IBFX Australia Discussion

I'm starting this thread to gather feedback about IBFX Australia from those who have traded live with this broker.

I plan to open a real account with them soon (just started demo-trading on their platform) and would appreciate comments, both pro and con, regarding your experience with them.

Thanks in advance.

hey doji...... i downloaded a demo from ibfx au awhile back just out of couriosity.....

i've used ibfx here in the states for around 5 years now...... if the aussie group is anything like the salt lake city group you should have no worrys..... i probably average a thousand trades a month with order modifies every tick..... which might translate to 50 thousand order modifies a month....... or more......

and yes, every tick is far too extreme but i have a good reason for it.......

i have no problems whatsoever..... none......

hopefully you will have the same success down there..........h

Their reputation is going out the window at the moment.

http://www.forexfactory.com/showthread.php?p=4250753

I hope I'll have the same positive experience with IBFX (Aus) as you do with the US counterpart, hayseed. And if memory serves, IBFX was the only MT4 broker that issued a definitive statement that they do not use the virtual dealer plug-in when the CFTC case against Gain came to light.

Although I'm curious to know if the Buru EA really delivers as advertised, I'm strictly a manual trader so that does not make any difference as far as I'm concerned, TJPLD.

Has anyone used their debit card for withdrawals? Would you recommend getting it?

hey doji.... i have no clue as to what ibfx uses or does not use in the line of hardware, software and plugins.....

wasn't aware of any case against gain and can't comment as to the final outcome of buru..... actually had no clue either existed untill this thread.....


i have and have used ibfx's debit ,"payoneer", card..... for me, it has worked like any typical debit card here in the states..... using it might give a faint sense of accomplishment if the money being spent is from forex profits.....

even though i very seldom comment in broker threads i might be ibfx's number 1 silent proponent..... don't get me wrong, i'm not blind to the negatives of the forex industry in general..... but after 5 years of my computers running all day tied to salt lake city, if there had been any true hanky panky i'd have noticed by now......

and trust me, i can cry 'mommy their being mean to me' just as loud as anyone..... just ask my mother......

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buru is something i knew nothing about until tj's post above..... without seeing the code my thoughts on it must end there......

my thoughts on martingale must stay my thoughts alone for not-so-obvious reasons......

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it is said that a good manual trader can beat any ea out there..... manual trading is not one of my abilities but might be the prefered path to success........... wish ya the best of luck......h

Does anyone know of an IB that offers rebates at IBFX (Australia)?

If so, it would be much appreciated.

One thing puzzles me: I just noticed that swap fees are applied on BOTH long and short positions.

What am I missing here?

swap fees @ IBFX have been "re-adjusted" to negatives on both long n short trade for a while.. if memories serve me right, i think it started around 1-2 years ago when financial crisis hits the banking system, with all those leveraged carry trades issues on the headlines.

i have decided I will be going live with this broker within the week.

One issue I'm having is that I noticed their spreads spike quite frequently. Anywhere between 2-20 pips at multiple times throughout the day. (usually 2-4 pips) No news announcements or anything unusual about volatility. Is anyone else having the same issue?

I had a spread monitor built into my EA and for this broker, it works out quite well .