If you are interested in the Australian branch of IBFX, please click here to leave or read reviews for IBFX.com.au at the FPA.
October 2014: All accounts have been transferred to FXCM.
IBFX are forex brokers. IBFX offers the IBFX Connect, TradeStation, and TradeStation global forex trading platforms. IBFX.com offers over 30 of the most traded currency pairs for your personal investment and trading options.
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Platform freezes during news events and stays down for 20-30 minutes. Froze today during NFP and didn't allow me any access to the platform. Ended up losing about 30 pips of profit. They stated that I should have called to close the orders. As you know, calling will not work during NFP fast price movements. I'm moving my business else where... 2014-07-03 2Star I totally agree with other reviews here. IBFX shut down their platform again today during NFP & it was down for over 10 minutes!! Couldn't enter or exit any trades. It's past time to find a new broker. Copyscape: 0% match | Checked Jul 03, 2014
This broker is terrible. When it comes to news release, as stated by others here, they will lock up or shut down their servers and the platform freezes. Sometimes for up to 30 mins or an hour. Meanwhile, my other brokers are up and running. I withdrew all of my funds from them and luckily with a profit. Use them if you want to lose your money and at your own risk.
server conveniently (for IBFX) shuts down during economic releases and does not come back up for an hour and then they take out your stop at the gap price... all the while nothing of the like happens on my other brokers, and the one time this did happen with another broker, they automatically adjusted my account, whereas IBFX denies any responsibility in their server crashing. Any and all who have had this experience with IBFX need to report to CFTC and NFA. In general, I'd say most of the current regulations are BS and the only regulation needed is the requirement for full brokerage transparency in their deal making. I also would not be surprised to see IBFX being the next FX broker investigated for asymmetrical slippage.
I have been a long time client of IBFX and they've recently really gone downhill. Their system shuts down during news moments and fail to execute pending orders which Metatrader is capable of. This isn't slippage I'm talking about, they straight up shut down the system so no trade gets executed and does nothing about it. I'm looking for a new broker.
They CHEAT!!! I have prove! I didn't set SL at all and my acct can hold any loss by the way ITS a 1mill trading acct.i bought USDCAD and it shot up, hit all my TP and they CLOSE all my 5 trades at almost a 100pip LOSS! moreover THEY close it at a level it DIDNT EVEN WENT!
No problem at all. Ibfx is a good broker. Fast execution, direct phone support, easy to withdrawal by a mastercard group....but the spread is higher than others..
I like this broker no problems at all.
Must recant some of my earlier critical review of IBFX found below. Since the takeover by TradeStation there were early learning curve problems but these seem to be pretty well ironed out now. It looks like IBFX has been given complete autonomy and run their business the same as before Dodd-Frank, insofar as its possible. Their customer service is still by some of the same now highly experienced people as before and working with accounts is simple and transparent. I'm pleased that they've been able to survive this way in the face of the gutting of the US forex industry. 2012-02-08 No Rating Sorry to say IBFX has seen better days. What most don't notice is that besides the fifty-percent leverage rule the margin requirements have changed on most pairs - I don't know if all. - which effectively reduces the leverage to around 25% - this in the smallest micro account, which customarily would have the highest leverage. Haven't traded with them live in some years now and managed to empty out my account before they got the last ten dollars. If some of these recent posts are any indications I wouldn't try it. Hearing a lot of stuff here that you would never expect from the IBFX of old. They used always to post the names of their officers and news about the company and their innovations, but now no names are shown, or news given.
Its a bit difficult to open an account here if compare to others broker. Thats why I try to trade with them. I guess they will offer excellent trading environment. But I was wrong. I got glitch on their MT4 price feed. I was lucky, I got very low spread for USD/JPY (around 0.5 pips with no commission) But its not for long, they fix it and its become > 2 pips for U/J now. Since then I have a doubt about reliability of their system. Generally I am satisfied with their support team, prompt and friendly. Standards speed for execution, no requote, I can found faster speed at other broker. Their spreads still a bit higher than some others broker, but they still do widen spread and slippage. I have left IBFX because its not a perfect place for my trading style
I tried to contact Aus & USA branches via online & Email several times about opening an account but never received a reply & assumed they had closed down. Now I am glad they did not reply as they do not reply to their current clients either. Thanks Amr Abdel Satar Ibrahim.