I just finished filling out an application with ibfx. The had me read 6 or 7 warnings check off that I had read each one. In one paragraph they stated that they would be taking the opposite side of my trade. That they may delay my order while they route it to some department to analyze it. They also stated that they may give me a quote that is different than the quotes they give to some of their other customers.
It didn’t sound like an STP broker to me.
I wanted to open live with them as well, but I am hearing negative things about them almost everywhere. They don’t look like an ecn to me anyway.
Considered often to be TO positive in my concepts, i will tell you now, BASED ON TWO SIZEABLE AND REAL ACCOUNTS WITH INTERBANK, that they were the ones who made me understand what crooks the Swiss may actually be !
Aside from cooko clocks and chocolate, the swiss have More of the worlds money per capita than anywhere else, and THAT is what theyre interested in — they remain NUETRAL, so they can lend to the good and bad alike and “money laundering” is right up there with skiing !
NOW that i have that done with, INTERBANK is one hell of a sneaky broker — they NEVER bring their prices to where everyone else brings them, violating the concept of “buy at the ask and sell at the bid” BECAUSE they never allow their top price to be HIT BY THE BID, ONLY THE ASK, meaning they are ALWAYS off the price by whatever is the spread.
and if youre SHORT — may G-D have mercy on your soul ---- they will set the price at ANYWHERE within the spread they desire at that moment, and you will NEVER see the ask hit the price EVERY OTHER BROKER IS SHOWING.
I was trading a $20K “distressed” account for a client with them, and I shall humbly put forth that i am some distance from being a “bad” trader, but they are so full of FLIM FLAM and price manipulation, that it was difficult at best, for me to get this account out of trouble.
If youre hearing BAD things about them, allow me to add my personal thoughts and experiences ---- Its good to see that the sanctity of their little “we are only bankers” world is being challenged, and i hope they go back to cooko clocks !
Nice people for the most part, Clean streets ----- GREEDY BANKERS !
my humble opinion, of course
mp
I’m sure your criticism of IBFX is well founded - no argument there, the only part of your post i don’t get is that you seem to suggest that they’re swiss? As far as I can gather, they’re a US company run out of Salt Lake City?
The part about highs and lows I’ve noticed as well on demo btw.
Best regards
I don’t think think that they claimed to be an ECN but they do claim to be a STP (Straight Through Processing). I am concerned, it would be nice if we got some real regulation in the industry.
for some reason, real or imagined, i thought they were swiss, but whatever they are, they shall never see one ruple of my pesos !
mp
still dont like the swiss though —
mp
PUBLIC APOLOGY TO THE SWISS ! (kinda)
any and all slings, arrows and small boulders flung in the general direction of the confederation of switzerland for harboring such a greedy broker such as Interbank, FX are heretofore rescinded immediately.
Salt Lake, as was pointed out by 099016mh (you SURE you aint a robot ?) is the home of these scalliwags, and NOT switzerland, which only goes to prove that when i trade someone elses account, perhaps i should at least find out what country is at the end of my internet connection.
NOT letting the swiss off the hook, because any country that small, that has THAT much of the worlds money, and spreads it to friend and foe alike (at the same rates, no less !) bothers ME deeply.
but anyway . . . . . . . . .
enjoy and trade well, and know where your broker lives (in case your “men” have to pay him a visit late at night !)
hi,
to see if ibfx is a dealing desk or not,
one of the telling signs is :
do they charge a commission on top of the spread?
another one is:
can you enter 1 standard lot, 0.1 lot or 0.01 lot of contract in the same account?
if yes to both these question, probably they are a STP dealer
This is what i learnt in a SGD$10 seminar last September
just to share
shawn lim
Are you kidding me…I would not even spend one second thinking about this broker, apart from the horror stories that keep floating around in cyberspace, the fact that their so called CS cannot even answer a few relevant queries other than the “We will have to get back to you on this” makes it clear to everyone just what kind of a broker they are…
Hehe … nearly 3-year-old thread.
By now the OP has either found out or went broke. 
I´ve been trading with them for three years now, at first i thought it was an stp, well it was, until their liquidity provider went bankrupt, and so they became a market maker as i can see. Last month ago ibfx was bought by TradeStation Inc and they sent me a letter explaining TradeStation now will be my counterpart for my trades and the disclosure said there will be a conflict of inerests clearing explaining for me to win they lose money. But trading conditions never changed, i am still doing well with this broker, i can tell you this broker is good for swing and position traders, day traders will not survive. But once i´ll gather 5000 usd i´ll switch to Dukascopy.
Regards.
Believe me, been in the same situation…always thought that I would withdraw the funds once it hit the “marker” and guess what, just as it was about to happen, the broker goes AWOL. Either way, this broker is certainly one for the books. Come on, with the kind of CS these guys have, I find it hard to believe that they are still around…anyway hope it turns out well for you…