Hi, I’m using Interbank FX as my broker but I read a lot of negative reviews about them. I’m little worry:rolleyes:. Any experience please let me know good or bad.
Thanks:)
there is tons written about them good and bad. Ive used them for years now and no complaints except they will get you with slippage so better to use “pending” orders for example sell stop or sell limit as compared to market orders. Other than that they are good and they have micro lots which works for alot of folks around here who are well undercapitolized.
I like their customer service.Very helpful, but every time I place the limit order far away from market and after it gets filled it immediately turns against me …keeps coming back a few pips from my price and retraces back just enough to frustrate me. As soon as I exit the trade it continues in the direction I originally started.
Very fishy. I think that they are taking apposite trades.
my personal experience with that broker was one of the worst experiences i can relate.
while it may not completely relate to newbs, i find that they DO NOT reach the same amounts as a high, for instance, that the banks themselves (Barclays, in particular) reach. One is supposed to sell at the bid in normal life, BUT THEY NEVER ALLOW THE BID TO REACH THE TRUE SELL PRICE, ONLY THE ASK.
the same is even more true for short positions, where THEY decide where in the spread they will call it the end, NEVER hitting the price that the banks reach, or other brokers for that matter.
I had this experience trading a womans account a year and a half ago and it was the most horrible time I have had in many many years of trading forex — i managed to save the account (she had been in trouble) but it was a true fight.
Therefore, from personal experience with a large number of brokers and ECN’s, i would advise maintaining a wide berth !
enjoy and trade well
mp