IamFX.com Review

IAMFX just declared bankruptcy on April 14th 2017. I didn't have a lot of money with them but still, I'm not expecting to see it again.

I update my last review.
They sent me an email friday 17th july my withdraw has been accepted and fund will be credited to my bank account.
This morning funds hit my account.

2015-07-16 2Star This morning 16th july I requested a withdraw for the full amount of my account with IAMFX. exactly 3625 EUR
They replied " Your Withdraw from Account Request has been declined due to the following reason:
It seems there is not enough available money in the account to make the withdrawal"
I have 3625.23 EUR on my account
On their website I have requested again a withdrawal only for 3600, because I see on their website they charge 17 EUR bank fees.
We will wait as tomorrow if they process the withdraw
For now 2 star

I had a margin call and account closeout with this broker due to their HUGE spreads. This occurred at the time of a news announcemt (FOMC statement) I understand that volatility and spreads do increase at these times but the spread on GBPCHF increased to 68.5 pips !! I have since attached an indicator that shows that the spreads on my account for this pair goes up to 152.8 pips The broker advises that their spreads are true spreads for a 100% STP broker, but they advertise "lowest interbank spreads" on their website . Despite these huge spreads I provided calculations that proved the stopout was mot valid as I still had available margin at the time. They have still not provided me with any proof that the stopout was valid

I wanted to share my experience with IamFX I had sofar. I'm a scalper trader with my own EA that is actually trading during larger market movements including news. I tried several brokers including FXPro, Pepperstone, FXCM and couple of others and my EA does perform the best with iamfx sofar. They definitely have one of the best order execution quality I experienced on mt4. Just last 2 weeks I had more than 23 pips positive slippage on about 100 orders (meaning my orders got closed on better price than my ea requested). Especially after weekend market gaps. I have never experienced this with other brokers I have accounts with and this simply proves, at least to me, that they are a true STP broker. Hope my experience help other ea scalper traders cause it's really hard to find such quality and scalper friendly broker at the same time these days.
Their live chat support is nice and prompt - chatted with Monika. Sofar had no issues.

Stay away from this broker,
I run my scalper robot in my personal computer and just one night I lost $400, because their server was shut down for 1 hours, I tried to return my money but they said you didn't run your robot in our server. they cheat all the time. they charge too much for commission and they not honest,

IamFX is average with withdrawing funds.
They also flagg your account during News. monika@iamfx.com was nice and did not understand why after 6 days i had not had a withdrawal. As for stephen@iamfx.com; he did not reply after heaps of emails. I would not use them again. They will flag u if u make money in announcements . and not give u money back. I have heaps of brokers and these ones are bad

I have traded with Iamfx since 2010, first using their VPS now currently trading with a in house fund manager. I began looking at their new myfxbook trading account and decided to read some reviews. It was surprising to read bad reviews of these guys. It seems may there are a lot of misunderstandings. I have had accounts with about 6 brokers and feel this has only been an actual STP environment, although I can't explain how someone got "off quoted". It did take some adjustments to trade with market execution when I was used to instant execution, but that is minor when you are able to place trades or 30 lots with no issue getting filled. Were any of these cases solved? I had to laugh at the guy who says on to the 6th broker in a few years - oh well :) you would think he might wonder if it was him who is confused.

This is the second time they spiked the XAUUSD about 30 dollars down in a single tick when i am in profitable trades ignoring all my Stoplosses and leaving me with a SO of -1300% on one of the positions trade and a negative account balance at the end.
Trying to get a trade in ( who wouldn't) results in an off quotes.
A negative account balance, i wonder what they do with that ?
Screenshots available but i can not post them here.

Although I've been with Iamfx for over 4yrs now, I've been reluctant to deposit or hold any significant funds (over 1K) with them because of their lack of regulation. That said, they have given me no cause to doubt their reliability until very recently, which luckily coincided with my imminent decision to fund a brokers account much more heavily. Glad I held back from choosing Iamfx for the moment. By their own admission, they recently suffered from a total server crash lasting approx 3hrs during the crucial London open. Their telephone help desk assured me that any subsequent losses would be reimbursed. All I needed to do was submit a ticket listing the open trades that could not be accessed and incurred subsequent losses. 3 weeks later and 3 follow ups to the help desk and still no response other than the latest response below:
Please wait, an operator will be with you shortly.
You are now chatting with Monika Z. - General
22:20Monika Z.: Hello and welcome to the Live Chat. How may I help you?
22:23Monika Z.: How may I help you?
22:23Lee Barlow: Hello Monika. approx 2 weeks ago I submitted a ticket on the advice of your telephone help desk, as I was unable to adjust my open positions due to Iamfx having a platform server crash. I have followed this up but only told that is still being processed. Surely it doesen't take this long to reimburse such a small amount? It is a worry if it does.
22:23Lee Barlow: Ticket ID: ..................
22:24Monika Z.: thank you
22:24Monika Z.: let me check
22:24Monika Z.: hold on a while please
22:24Lee Barlow: I have had no complaints with Iamfx until this point.
22:25Monika Z.: Yes I understand you
22:25Monika Z.: please hold on
22:29Monika Z.: thank you for notification, I will follow upon that on your behalf within today
22:30Lee Barlow: I was told that last time and heard nothing back. I've just checked the dates and it is in fact 3 weeks since the issue and the ticket submitted.
22:32Monika Z.: We are sorry for the inconvenience caused. I will take care of it
22:33Monika Z.: I'll be sending you email
22:33Lee Barlow: Ok. let's hope it get's properly sorted this time. Thanks

The total losses only amount to approx US$30 but the lack of interest shown does not instill confidence. I will update this review as it happens....if it happens. Otherwise, take it that I've learned my lesson and moved on. Any recommendations anyone?

I was with IAMFX for a long time, but their services always have been slow (except deposits and withdrawals). They do have live chat support, but this only helps if it is a simple request. Most of the time, complex matter remain unresolved for a while, despite repeated emails and chat sessions.

I am moving my business elsewhere as they seem to have the opinion that customers are a nuisance rather than integral to their success.

Don't bother supporting these guys. An EA developer I know has moved away from supporting them too, so I think they will not last much longer at this rate.

2011-02-09 2StarI would rate this broker 3 or 4 out of 5 because although I have not really had any issues, I have not really been that successful with IAMFX either (considering FAPTurbo recommends IAMFX as their "preferred" broker). My results with FAPTurbo to date (two months) have been more than disappointing - lost 40% on my account. I have tweaked the EAs according to FAPTurbo Expert Guide however still poor results.

The inability to fund my account by cc made things difficult also. Luckily I managed to open an account through HSBC and do a wire that way.

I am looking again for a better broker, since I am not making profits with IAMFX so far. Fifth broker on the way in two years... :(