InterBankFX Review

Posted in Forex Signals on 25. Mar, 2010

Interbank is a US registered forex broker. They are controlled by CFTC and they are a member of the NFA.

They offer a wide range or accounts such as individual, incorporated, guided, partner and corporate. Their most basic platform is MetaTrader 4 which is a great free and powerful one in the current market.

The site was designed with traders in mind, giving easy navigation and usability. The information can be retrieved easily and have lots of details.

They even have a product called FX Educator which comes bundled when you open a micro account that requires only a minimum deposit of $300.

Here are the testimonials of some of their customers:

1. I’ve been with IBFX for two years now.
I’ve lost money at the beginning. I was convinced I knew what I was doing. Two years later I’m still with IBFX and can proudly say I am now profitable.

Requotes happen during volatile news time. I now avoid trading during news that are rate “high” and move the market quickly. Since I’ve been avoiding it I haven’t had any problems with requotes.

I trade both manually and with a few EAs. I haven’t had any problems with any of the complaints listed here by others. I’m beginning to think that perhaps some people need to go back to the drawing board and really comprehend the FOREX market.

2. I’ve placed nearly 16000 (automated) trades through InterbankFX. I haven’t had one problem regarding fills, quotes or execution timing. Those who have problems, should try to be polite, patient and reasonable with IBFX. Starting polite, demanding something and then freaking out formula doesn’t work there (good thing). I’ve also used just about all brokers using MQ platforms practically since version-1 of the platform. IBFX has no more or less problems than anyone else. At times I have 2-3 different brokers with MQ platforms going and the operations of them is 99.99% similar. Their forum is great and regularly attended by staff. http://www.patricknouvion.com/IBFX/index.php Those who bash IBFX here, try to post your comments directly on IBFX’s forum. That way we will see the response to it right away. I think IBFX is a young and upcoming honest broker. I’m giving them a chance. They remind me a lot of Oanda which I’ve also been trading at for years. I also recognize a few long term Oanda traders who post on IBFX’s forum. Finally, as a trader, you are responsible to make up for the faults of anything that hinders your trading. If you think they have a dealing desk (which they don’t), or you get requotes or platform freezes or spreads widen, etc., it’s you/your strategy that you will have to change in order to not only overcome the problem, but also to take advantage of it. Best-o-luck.

3. I have been using InterbankFX for some time and I am very pleased. There was a technical glitch a few months ago, and I was locked out for a while (I called the desk and they closed the trade manually-great phone support). I have not had problems before or since. The spreads are better than most and they support Meta Trader automatic trading which is great. My PC has been auto trading for many weeks without a single glitch or slipage. I have withdrawn money many times; if I FAX the request before noon, I will have the funds in my bank accaunt that day! The only weakness I have found is with the poor news feed.

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