I have traded with a number of Forex brokers and so far IBFX is my favorite. Their spreads are not as competitive as the ones of other brokers, however if you look at the slippage you get there as opposed to the slippage from other brokers, in the long run IBFX is way better (here I’m not factoring trading during news releases due to the nature of that type of trade). IBFX has also proven to be faster than most of the other brokers I have used - so kudos!

Phill 06/25/2012

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I don't trade news so I can't comment on the frozen data/platform issues mentioned. I will say that when I did trade news in the past, I've experienced that issue with almost every broker I've used live. Oanda, CMS, and FX Solutions have all frozen up on me before during NFP and other high volatile periods.

I have yet to have any issues with any of IBFX's business practices. Withdrawals have been quick and seamless. I've even picked up a check from their office with no issues. The few customer service experiences went well and issues were resolved quickly. Although it did seem like I had to explain myself quite a few times. I'm pretty sure they're trained to find keywords in the inquery and then revert to a script like most customer service desks run in any business.

Spreads do widen and sometimes during periods of little activity which is sort of odd. But 3-5 pips here and there doesn't matter with my trading style.

Their custom version of MT4 has a lot of great bells and whistles for one click opening/closing/modifiying of trades. And they also provide a host of great trading tools and indicators.

I've been pretty satisfied for 3 years now.

JUtah 09/19/2011

(0) (0)

In a zero-sum game, there will be a winner, and a looser. 99% of forex traders are losers. They blow their accounts in a couple of weeks.

Losers blame the broker, the execution time, the quality of price feed and so on.

I've been trading with IBFX for over 3 years now. They are one of the largest and most reliable retail forex brokers out there. Their order matching system is second to none. Check the statistic on the IBFX's website. The average execution time is well below 0.1 second!

If you are a FX rookie, make sure you know the basics. Scalping and over-leveraged trading kill the majority of newbie traders. Don't blame your broker on that.

bBot 08/20/2011

(1) (4)

IBFX recently introduced an account inactivity fee and didn't notify account holders of the change.

Needless to say I (and many others) got stung. I contacted their customer support, who said there was a clause in the customer agreement about their right to introduce the fee (which I don't dispute) but then when I asked to see a copy of the agreement, neither he, nor I, could find one on the website. Fair enough I signed when I opened the account, but I'd still like to be able to see a copy of it...

They basically seem pretty underhanded to me.

I can't give a balanced view of the trading experience, but the overall company seems pretty uncouth to pull this little trick...

Dominic 08/16/2011

(0) (1)

I found them to be great broker. Very reliable, I not experience problems people say here.

Sorry for broken English, is not my native language.

teodora teitsma 08/11/2011

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This is a tough analysis...

On the one hand we have a handful of bad reviews for this broker from traders, while the Editors give them a higher ranking.

On the other hand, Interbank FX publishes their spread and execution stats, and have proven to be a very reliable broker in the 18 months that I've used them.

But I understand that pissed off people are more likely to post a bad review. But my experience has been good. Support is excellent and quite friendly. Execution for me has been great. And this is more than I can say for brokers I've traded with previously...

Carina Leesmann 08/03/2011

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IBFX's MT4 platform freezes during important news releases and if you have an open position, you have no chance to move the stop loss or close it.

I asked the customer service support what's the problem and they told me to try another server, but the problem persist.

Moreover they widen their spreads during large movements.

Stay away, especially if you looking for less than 10 pips per trader.

Yurry 07/29/2011

(1) (0)

I worked for these guys for 3 years. Their operation is ok since their liquidity provider Forex Liquidity llc. was shut down.

IBFX offers leverage up to 50:1 and you folks are crazy if you trade at that leverage. Remember, your forex broker doesn't matter, trading spot forex is a loosing game. You will lose all your money and at 50:1 leveage you will lose it twice as fast.

IBFX Insider 02/09/2011

(3) (1)

The Live IBFX Account is terrible forex trading location. I have carefully compared and observed their account activities. I would not recommend it to anyone who is interested in trading a forex account. The spread costs are always about two to three times higher than suggested on the main screen.

I have compared several different demo accounts with the IBFX Live Account and determined that they are a true Market Maker type of brokerage who hands over every trade long or short to another dealer desk or data center for assembly into larger sized trades. This costs the smaller Mini sized individual most of your profit opportunity.

clm, FPA 08/12/2010

(4) (1)

So far during my course of trading with them, yes there are requotes and slippages, if trading manually.

But I have no problem putting TP, it'll hit each time even I plant my eyes on the charts and i sometimes i dont see the price filled only to check on the tick chart.

I dont know about SL as i never use one. So i cant comment on this.

Seldom experience on server disconnection. Reconnection was fast, in a few secs too.

Withdrawal is fast, few years ago, i noticed it, i got my withdrawal witnin 24hrs in my bank account, although it states 3-5 biz days for international bank wire. Recently made withdrawal with another account, got it in less then 24hrs.

So far, customer service was excellent , be it live chat or email...

Plenty of education materials and webinairs.

Withdrawal fee is high at $25. you might want to consider their debit card.

Closed my accouny due to the stupid non-hedging rule and possible up-coming new leverage level.

Waiting for IBFX's UK office to open.

Now finding another broker.

Hmm, FPA 06/21/2010

(3) (0)

Watch out!

If you start to win they'll hit you hard with slippage, frozen feed, account disconnections, and the inability to enter trades or exit trades with their error message "Off Quotes".... "Off Quotes".... "Off Quotes."

Even when I have maximum deviation set to the maximum setting the "Off Quotes" message appears and prevents me from entering at an optimum moment. The same with exits.

I have been using IBFX for a few months and had been relatively satisfied until recently.

Recently I installed OU Forex Mastery software and started identifying better points of entry and exit, catching nice moves.

Almost instantly after I installed OU Forex Mastery the entire performance and behavior of IBFX radically changed.

Suddenly "Off Quotes" appears almost every time I try to enter an order, or close an order.

The data feed from IBFX now freezes and when the chart resumes I found there has been a big jump during the frozen feed.

The account suddenly disconnects at the most inconvenient times for me interfering with my trading results.

It's now suddenly impossible to enter a trade or close a trade without bad slippage. Terrible!

Friday afternoon I tried to exit a position before the market closed. I got the error "Off Quotes" over and over until the market closed.

I was not able to close my position before the market closed for the weekend.

With the major gaps that often occur lately over the weekend, I am very, very displeased with what IBFX has done to my account.

Joshua Bentley, FPA 05/29/2010

(5) (3)

All I can say is: Requote, requote, requote. I get requotes on my requotes!!!!

This happens during quiet, non-news trading time.

Trader, FPA 03/23/2010

(3) (1)

I see a lot of negative reviews on IBFX, and I wonder how much education the people using them got before trading.

Forex is a very risky venture, but by all counts, IBFX does a great job of training IF you read the training materials...

Great trading, great live servers. Period.

Brian, FPA 03/15/2010

(2) (3)

Possibly the worst NFA regulated broker around.

You will not make money with this broker.

Wide spread, slippage, requotes. You won't be able to place a trade when it really matters.

This broker went the wrong way ever since they lost FXLQ as their liquidity provider. Avoid.

John, FPA 01/16/2010

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Beware their backoffice software.

In my case I had 4 stop orders at the same price and same lotsize. They all opened at the same minute, but with differing ticket numbers it's easy to tell which one opened first. My EA kept adjusting the S/L on all 4 open orders and the S/l was hit about 4.5 hours after they opened.

In my MT4 statement all 4 orders show that they closed in the same minute.

On IBFX's website, at the "official" statement after having been processed by their suppposedly NFA-compliant backoffice, they show only one order was closed and the other 3 lost money since the price fell back after the S/L price.

They refuse to adjust the orders or to resolve this in any way.

I am closing my account with these pirates. Better to be offshore than to be stiff-armed by local idiots.

Bill, FPA 01/09/2010

(2) (1)

I've been trading with them for the past fourth months now, and have no problems to speak of. The execution of trades are almost immediate, I rarely receive any requotes, and the slippage is minimal. Of course I trade with an EA so that might make a difference, plus I don't use stop losses. Oh, they allow you to keep your "old" EA's, which retain the same functionality they had before the new "FIFO" regulations. That is a big plus.

So, if these brokers had any problems in the past, I'm unaware of anything happening currently.

Dennis, FPA 12/01/2009

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Overall I have had a positive experience with this broker. They have had some server problems in the past but that seems to be fixed. Spreads are very competetive on most pairs.
In real life trading an actual transaction takes place, therefore re-quotes happen all the time for market orders when prices are changing quickly (DUH!!!) As far as stop hunting goes I've spent countless hours with both Alpari and MB trading feeds up on another computer and have never noticed a difference between them and IBFX. The FX market is not for the squeemish. Price spikes going against a trend happen ALL THE TIME! If it were easy it wouldn't be so potentially profitable. Sounds like most of the complaints on here are from people who either didn't do enough research to realize that a major news release was looming and it killed their trade or expected to be able to place a market order without getting requoted to death during one of those news releases. (US Non-Farm Payroll anyone? Been there, done that) And, any variable spread broker that DOESN'T increase sperads during times of extreemly low liquidity is the one you should be wary of. My point is not to defend IBFX but to counter-act most of the crap I've been reading.

Megrover, Goforex.net 10/29/2009

(0) (2)

Their trading desk grabbed a $1600 profit from me at market open on one Sunday back in April 2009. I had a buy to cover a short order. They closed out my order exactly 1 hour before the market opened. They pocketed the 1600. They said that was policy. I took my trading elsewhere after that fiasco.

mm777, Goforex.net 09/05/2009

(2) (0)

I've been trading on live acc. for like 6 months..had few brokers as well..just to know which one is offering the best. But for IBFX, i tried to deposit my account with my credit card but few days later they asked me to forward to them a scanned copy of my card (back & front) which is not a normal practice. They didn't even ask me to hide the 3 digits security digits on the card..only after i notified them about this then they said i can hide those security digits. Why such a big name of broker ( as advertised ) seemed so unprofessional...so watch out. For me..i just stay away. Never deposit any amount into this acc. till today.

HJalil, FPA 09/05/2009

(2) (1)

IBFX (Interbank FX) is the one of the worst brokers ever.

Taking a position with this broker is up to you but closing it is up to IBFX. They will not let you close your trade when you are in a good profit. You will close it only when you have lost a lot. I had heard many things about stop loss hunting and trading against the traders by the broker but I had never experienced them personally until I opened an account with IBFX. I have no doubt that they trade against the position of their clients because it is proved to me. I took the same position with another broker and could easily close it with profit but the same position with IBFX never went to a profit and even when I compared the charts I see the difference in the same currency pair and time frame. I know another trader who has experienced the stop loss hunting with IBFX.

Vahid, Forexfactory.com 08/04/2009

(2) (2)

Unless you have loads of money to burn; STAY AWAY!!!!!!!!

I have traded with them since April and was impressed because they advertised,"no dealing desk" and they are suppose to be so honest. Well if you find yourself on the right side of a trade, they no only frequently re-quote you to keep you from closing out. They now have a new way to cheat you and it is off-quote. Whenever you are trying to close a profitable trade, the platform simply will not let you, until price starts moving against you. I ask them about this and they said it occurs when they get a different quote from the bank than the one you see on your screen. These things don't happen when you are learning how to trade, they only happen when you have a degree of competence and have a pretty good idea of what you are doing. The sad thing is you wait all day for the perfect set-up and then when you get it they won't allow you to have what you have worked so hard to earn. I give them to thumbs down.

RUN AND take your money with you to a more honest broker.

ME2, Goforex.net 08/04/2009

(2) (2)

Do yourself a favour... Check out every other broker on here before you look at IBFX. Why? Because if you check IBFX out first, you wont have a chance to see how poorly put together the other companies are! IBFX has great customer service, education, spreads, and neat add-ons for Metatrader.

The size of thier daily trades speaks for itself. Honestly, these guys are excellent, and with anonomous market execution, it means you are not dealing against your broker...
What more could you want?

Russ, Earnforex.com 08/04/2009

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IBFX is a great marketer but a very poor broker. They advertise tight spreads, competitiveness but they bounce the spread when no other broker has any widening. A scam operation to say the least. They market no dealing desk but all their liquidity providers have dealing desks so how is that they can advertise that they don't?

Jack, Goforex.net 08/04/2009

(4) (1)

This broker like to steal pips from you.. They are the only broker that ask you to confirm your order in times when you follow the big trend.
And they did it even twice-three times, So when your order are accepted the price is against you. ANd they also widen their spread in some cross currencies when market is about to close..

Interbank sucks.. PIPS STEALER!!!!!!!!!!!!!

Edo, Forexpeacearmy.com 08/04/2009

(3) (2)

I've only been trading live with IBFX for 2 months. So, I can't compare to other brokers live. I've only demoed the others.
I have to make a comment on requotes/offquotes and those complaining about them.

You are moron if you think it's the company trying to screw your trade.

Let me explain something to you. Very simply put price moves. When it moves quick, if you are in a trade and try to close, the price can move away from that price point in the time it take your order to reach the server.

Quite simply if the price isn't there you aren't going to get it. When closes manually a trade turns into a market order. A market order says close at this price AND THIS PRICE ONLY.

Ric, Goforex.net 08/04/2009

(1) (3)

I use them because they were recommended, and supposedly won awards. The other reviews have hit it on the head....constant requotes, and confirmation requests....even when the market isn't active! I have some major ethical questions re this broker! I would NOT recommend them to anyone!

Steve, Forexpeacearmy.com 08/04/2009

(2) (2)

I'm a Forex professional working in the business. These people cheat. They say they have a no dealing desk set-up yet they can offer better rates for corporate customers. Hello !!?? Requotes are the worst in the business and their spreads are the worst in the online world. Trust me, stay away. Scam.

Dean, Goforex.net 08/04/2009

(3) (1)

I would like to know who's making money if the majority of brokers appear to be shooting at the stop.

Which brokers are allowing you to trade w/o all the interference?

It's dangerous, but when I realized I was being cheated, I cheated. Due to the stop hunt [which I've experienced in the pass] I refuse to add stops to my trades and it works for me.

Nevertheless, I would prefer to trade with integrity driven brokers/companies.

Ben-Noble, Earnforex.com 08/04/2009

(2) (2)

I can't believe i went for their service. REGRETS!

They are place where newbs go (due to their GOOD marketing skills, ads everywhere) new traders usually sign with them because they keep professional appearance. If u want to be profitable trader, look somewhere else. fill-ins terrible, spreads outrageous, stop hunters spike jump 50 pip outta nowhere (not news)! to make me lose 1K their response o it was due our liquidity banks` sudden change. SURE! lost 13K with them as whole. I think only reason they are NFA backed is due to their high balance sheet.

Goodbye IBFX, stay away traders!

NYC_Trader, Forexpeacearmy.com 08/04/2009

(3) (1)

I live traded with IBFX for several months. This is a word of caution to anyone in the world not to trade with IBFX. As soon as you are making a profit, IBFX will take action to disconnect you, and make you lose.

Their Live accounts platform is different from the demo accounts platform. On the demo account, they will give you the possibility to make trades at all times , even if you delay your order for few seconds. On a live account, many orders will get re-quote errors, till the trade slips to a point that makes you lose.

The system disconnections for those who use EAs is very common, then they blame your ISP, and your internet connection, despite the connection is working on many other things including their demo platform.

Crooks, that are out there to rob your money in what seems to be "legal way".

Do NOT give them the chance to rob you your money!!!

Onouf, Goforex.net 08/04/2009

(4) (1)

It can all be described in 2 sentences "REQUOTE", "INVALID PRICES". I'm tired of them. I'm taking my real $$ elsewere. I have to try 3-4 times to close a real trade.

Dr. G, Forexpeacearmy.com 08/04/2009

(2) (3)

I am sorry to say that all the things I have read about this broker being a cheat are real in my opinion.

I signed up with demo account successfully proved I could make money and then went live. I succesfully started knocking down 500-850 day in profits using a variety of robot and manual techniques. BaM! the crap starting coming from nowhere every time I submitted an order more than one or two lots the system miraculously started seeking out my stops. I saw over and over again, no matter how far I moved my stop the system sought out my stops within a few minutes, i would move it up again and immediately within 30 seconds the system was like a heat seeking missile. They got me for a big lot unexplicably on my one of my robots MegaDroid, the reason I know they cheated me is because I also was running the robot on another brokerage. IntebankFX burned me for $2500 on a hung turn whereas the robot on the other brokerage did not have the same result it actually made a small profit. These peeps are cheats simple as that.

FXGhosthand, Earnforex.com 08/04/2009

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