To all forex newbie and currently open live account with IBFX.AU traders, this is my bitter experience,i’m not become a hero but to help other trader to save their hard earn money.
I open live trading account with IBFX.US since 2007, first three year all operation well done by IBFX.US, until USA set new financial rule change on 2010, so they open new branch at Australia, i have to open new account in Australia because of leverage, until IBFX.AU merge with Monex Group recently, i found a lot of problem with this NOT honest and NOT transparency FX broker, every time when i want to trade in important news release, their server hang-up about 5min-10min, can you imagine this short period price can move on hundred of pip, but they won’t let you take any action at that moment, if you have big profit or big lose at that time, what can you do? very frustrated. here a picture to compare this broker to other broker:
IBFX:
Vantagefx::
FXCM:
Because IBFX.AU purpose turn off their server, the chart look difference with other broker chart, so it’s give me a wrong trend info, IBFX.AU every time frame chart difference to other broker, i’m experience trader, every candlestick have a long pin bar it’s meaning market will turn to other side, do you think i’m dare to sell at that time.
Here is the result i lose two of this trade:
Before this it’s also happen on ECB rate release, still the same problem, i already warning to them, if this still happen, i will close my account immediately and transfer fund to another broker, i send this problem to IBFX, what the representative said:
Dear XXX,
Thank you for contacting us in regards to the issue you experienced. Service interruption should not happen frequently; however, there are many variables that play a part in online trading technology and unexpected problem occur. This is part of the nature of trading online. When these types of problems occur and you have a trade that you want to close or modify please contact us immediately and we can help.
We appreciate your feedback and sincerely apologize for the in convenience.
Regards
CARLOS RUIZ/Global Trading Support
Here i want to ask IBFX again, if other broker can run smoothly on time when news release, why don’t you? To protect your profit or to protect your client first?
Think again IBFX, if no client be with IBFX can you still survive?
I encourage forex newbie and still use IBFX for their broker, open you eyes to compare those who NOT honest broker, if you find your broker chart look difference from market giant broker as above, it’s mean they play slippage to you, immediately close your live account and change to another fx broker, if you don’t want to blew your account again.
More info about news trading: forums.babypips.com/forex-brokers/3147-ecn-vs-mm-brokers
So far i already lose USD59850 to this WTF broker.
I have a perfect strategy but use to the wrong chart provider, how to make profit for a trading?