Thinking about opening up a micro account with them.
Anyone use them? Good for micro? Easy withdrawal? Minimum starting balance?
Just looking for a good, honest broker for a micro account with MT4 platform.
Thanks,
-FP-
I use them and started an account with as little as 200 bucks. There actually local to me and I have taken a tour.
Easy to get money in and out, 20 dollar fee though to deposit via pretty much anything. I used CC. I am not sure how that compares.
Spreads don’t seem rigged and if the price changes mid buy/sell it will ask me if i want to still do it. Iv seen it go in my favor.
My buddy has used them for about a year. 0 Issues. Really good customer support via online chat.
I would recommend for sure.
My friend and have had IBFX for over three years and have had no problems with them. They have great customer support.
They are actually great I have a micro account with them right now and have had zero issues. They do charge if you want to deposit via credit card or withdraw through direct deposit but if you send in a check its free and they have a deal with a bank so you can withdraw money in about 10 minutes if you have an account with them.
Customer service is amazing and price is not rigged I have not seen anything fishy.
I would recommend them any day.
I use ac-markets and they are pretty good. Their mini account is 2000, (I have the standard account).
Good spreads, they own their software so hardly no technical problems. And they will become a Swiss bank in the next few months, so no problems or deposit or withdraw.
I advice you try the demo first (in any broker) to try the platform and see if you feel comfortable with it
I closed my acct with IBFX; great customer service and plenty of tips or educational memos throughout the week but requotes, server busy, and 30 pip entry price away from current price for BuyStop, SellStop orders was too much for me. I was looking for 50 pip profits but the entry had to be 30 pips away, why bother? d
Dobro I think you mean 30 pipetts its the same as 3 pips
I’ve been with them for some time but i’m not happy something just doesn’t seem right, the amount of requotes its crazy. When I inquired with them they said it depends on our liquidity providers but thats not the way it works. I don’t want to get into it but thats definitely not the reason for requotes. MBT is a true ECN and doesn’t have requotes, same with FXCM currenex.
Another thing is that their spreads are very high they used to be among the highest in the industry they’ve reduced them recently but still quite high.
Other than this I haven’t had any problems, one thing I must say that customer support is outstanding. If they were an ECN it would have been the perfect solution.
I’m looking to change but you could try them and see if it suits you. I don’t trust their order handling but I think its all a matter of personal choice
“Dobro I think you mean 30 pipetts its the same as 3 pips”
I don’t think so - when I post a Stop order in the evening I get a msg that “entry price must be 30 pips from current price.” Ridiculous. But even if that was not so the requotes drove me wild; I missed a fast 40 pip move by getting 3 requotes in a row. The action was over by the time I could get in.
Oanda is by far the best even with their limited platform. TSs is still in beta! But their funded platform is even better than the demo and they absolutely have the best news of anybody, no reason to pull up Bloomberg. d
Why don’t you try SummerStreet FX they offer no re-quotes and no slippage and you can fund with Paypal. Plus spread is low, and you can use MT4 with no dealing desk with real-time execution. (I sound like a totally advertiser huh sorry just trying to help people out.) I talk with them often via Skype or the phone so yeah but hey if you do decide to sign-up man can you do me a favor, and mention my name to Dom is the VP of business their and he will tell you all about me, and so that way you will know whether or not I’m bs’ing you guys which I’m not I love these guys.
I have nothing bad to say about IBFX, I feel they have a decent system. I get an occasional requote and that is annoying, but I’ll tackle your 30 pip issue.
IBFX has both 4 and 5 decimal pricing depending on which server you are on. Sounds to me like you are looking at a 5 decimal price feed. If you are only trading for a 5 pip profit, you should be looking for a broker with smaller pip spreads.
LOL, you must be mistaking pipettes for pips. I use sell/buy stop all the time. I dont get filled 30 pips away or any messages saying it must be 30 pips away from price lol. They wouldn’t last long doing that.
Also, let me explain why you get requotes and why you WILL get requotes at any broker:
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you are trying to place a trade while price is moving. That is, price not sitting still. Possibly in a very busy market maybe even after news events.
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You place a market order. A market order says: “buy at this price AND THIS PRICE ONLY.”
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By the time the order gets to the server that price may or may not be there anymore. [B]If the price isn’t there they can’t give you that price.[/B] Therefore they give you requote. If you really want in at that time hit Ok to enter a little different than your price, it will end up being a few pips different most of the time but not large.
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what you are basically being told is your price is no longer available, do you really want in, because you said you only wanted in at one particular price?
So, it is not the broker messing with you. It is plainly the mechanics that happen between the market and the order type you are using and how the order type is set up.
To avoid requotes you can use buy/sell stops and on market order set max deviation in pips higher. I use a script to enter when I want to enter quickly, and set TP/SL in pips quickly. It goes off as a market order, the max deviation in pips is set to 10. I never get requote from it and my deviation has never been 10.
P.S. I believe when you say, “server is busy,” you mean the, “trade context is busy,” error. That is user error. If you had looked in your ibfx help you would have found a solution. I’ve had it happen to me before. When it happens it looks like the broker is fing with you. But, it’s not it’s user error, you created a loop.
Here is the solution: “Trade Context is Busy
You receive “Trade context is busy” when you try to process two or more orders at the same time. If you have placed a trade and do not wait until it processes completely and then try to place the same trade or a different trade, the commands go into a loop and you get “Tread context is busy”. The only solution is to close down the platform and restart it.”
P.P.S. I am soooooo sick of noobs who don’t understant market orders complaining about requotes as if its the broker screwing them. Forex isn’t like the grocery store where if you see the price on a loaf of bread on the shelf you are guaranteed that price. You have to get that price BEFORE it is no longer that price. Once the price isn’t there you can’t have it anymore.
An excellent post, [B]Phoenix[/B]!! 
some shady brokers will PRETEND the price exists though.
by the way, mt4 does have slippage control, so make sure you use that.