I’m thinking of opening a micro account with IBFX to get some real money experience. I’m considering them because they use MT4 and allow for odd lots, which means I can increase and decrease my pip value as my account grows or shrinks. That and I just wanted to start a very small account to play with the first time out.
Anyways what are some experiences, opinions of people who have live IBFX accounts?
I’ve gone through the broker section and could only find one bad review thread and one good one. On another thread I’ve read another guy who has good experience.
I did some google searches and found lots of bad reviews, but you know how that goes could easily be a loosing trader ticked off.
IBFX is a solid broker with plenty of liquidity which is important in this day and age. they win lots of awards coz there business model is solid. In my opinion they are a good broker. there spreads are fair and there execution is fast. I would just be careful of market orders coz they have a tendancy to requote and slippage will cost you money. Also i notice if you click the box for max allowed slippage they will always slip and you lose extra.
bottom line they are a good outfit just use stop and limit orders and you will be great with them.
Thanks J - I was getting quite a few requotes last week and will try to use only Stop or Limit type orders, thanks for the heads up. And i totally agree that they are solid, lots of good training resources, and have a good help desk. d.
i have to give a VERY negative review of IBFX having used them with anothers account that i saved, but only because I was crazier than they were !
study IB’s final price and compare to ANY other broker or ECN – you will see it never happens — they will touch the final price with the ASK, but never bring the bid to it, crucifying you if youre using correct s + r, and never matching ANY other charts.
Going short is even worse, as they can finish the move ANYWHERE WITHIN the spread that they desire, unlike any other broker. (when short, you should get out at the ask, but it will never happen with IBFX as they exit almost where they feel WITHIN the spread !
I guess you can use them with a trailing stop, but since i dont use stops i never tried that — but ill bet they screw you that way also !
It was a real account, about 10K if i remember correctly, and it was pure hell to beat them !