InterbankFX

[onurene]

Hi fellow traders

I'm thinking of joining mentioned broker. I'd like to hear your cons and pros on that broker.
If you find broker thrustworthy and good or otherwise, please be so kind to point out best pros or worst cons.
thx

have a trendy day

 

[JonnyT]

Why would anyone trade with any Forex Broker given the lack of regulation?

JonnyT

 

[Anonymous]

Commission free?

 

[JonnyT]

What a joke!

Its in the spread and the price manipulation.

If you want decent Forex try IdealPro by Interactive Brokers.

Spread on EUR is 0.0001 commission is 0.00002
Spread on GBP is 0.0002 commission is 0.00002

This is a fair market.

JonnyT

 

[onurene]

So it's not regulated properly? I have seen some positive feedback on them... haven't seen negative though, thats why i started this topic...
I'd like some comments from users who have been/are with them.

their add is also on metaquotes homepage...

thanks

thx for the reply above...

sry I didnt mention that, id like to use mt4 platform...

 

[JonnyT]

As far as Forex Brokers go, at first glance they look like one of the better ones, but I vote with my feet and use Globex Futures and/or IdealPro with www.interactivebrokers.com

JonnyT

 

[newboy]

Price spike

IBFX opened up Monday with a huge gap from Friday's closing price. eg. EURUSD closed at 1.2542 opened at 1.2214. Other currencies are similar. I spoke with IBFX and they said the problem was at their end (strange about that) and that they were working on fixing it.You can imagine the problems this caused,I have closed my account and am looking else where.

 

[onurene]

thanks a lot newboy,
that says it all, no further discussion needed.

Im back to point zero again, still needing a broker supporting metatrader4...

thx for suggsesting IB JhonnyT, but i need better leverage as i am opening new account with small deposit, to try out some methods on MT4 platform.

 

[newboy]

No problem oneurene,
Be careful with leverage when starting with FX it really is a two edged sword,also be careful of back testing your strategy and paper trading (using a demo account).They can lull you into a false sense of security.
Good Luck

 

[onurene]

thank you newboy,
i've ben doing some trading before though- not a senior, but still.
i know the risks of backtesting and paper, thats why i could use real account with low deposit, to try few strategies. Dont mind losing some money in the process... but only some!

 

[newboy]

Good luck onurene
What are you looking at on MeteTrader at the moment i am testing TSD on a mini.Looks good not many trades but not many losers.

 

[rog1111]

wow, what an opportunity to go long !

rog1111

IBFX opened up Monday with a huge gap from Friday's closing price. eg. EURUSD closed at 1.2542 opened at 1.2214. Other currencies are similar. I spoke with IBFX and they said the problem was at their end (strange about that) and that they were working on fixing it.You can imagine the problems this caused,I have closed my account and am looking else where.

 

[onurene]

newboy, i have my own manual strategy mixed up with Tunnel... modded it and wanna see how it will do on real markets. Have gained a 1200+ pips in 2 monts foward testing on demo. Looks too good...

 

[newboy]

Well done sounds promising should do better when volume picks up,been very slow in August.

 

[onurene]

hehe, dont have too much problems buying and sellin on demo too though
if this method works, lets say 50% as it does on demo, i'd be still happy puppy

still havent got a good broker on MT4 platform though

 

[onurene]

Sent a mail to metaquotes yestrday as im still not sure which broker to go with. Hopeing to have a list of brokers from them, so i could examine the list a bit and decide then.

P Newboy, are you using MT with your real account? if so, what broker do you use?
thx,
onurene

 

[newboy]

Onurene
Looking in the code of the programme can see the following brokers

#define BROKER_ALPARI 1
#define BROKER_IBFX 2
#define BROKER_IBFX_MINI 3
#define BROKER_FXDD 4
#define BROKER_FXDD_MINI 5
#define BROKER_METAQUOTES 6
#define BROKER_NEUREX 7
#define BROKER_NEUREX_MINI 8
#define BROKER_NEUREX_MICRO
I was with IBFX but because of the data problem will probably be moving to Neurex,though this is not an endorsement or a recommendation.
Good luck

 

[FOREXHUSKY]

From all brokers in post above,the best feed before and most stabile you will find in Alpari(Russian broker).

The best spread and no more gaps and bad data(as im testing it from first da on meta4) you will find on interbank fx.
Fxdd still will have babyborn issues with spikes so stay aware of them for now.

And THE Best in that is we can finally trade life using meta4 and US based broker.
Using your favorite system and trade directly from platform,and dont need to worry your money will get lost in some foreg. country.
Best Regards to all

 

[onurene]

Forexhusky, thx for a good reply.
looks like ibfx is pretty slow answering to my e-mails though.

 

[Anonymous]

FOREXHUSKY

I am just wondering, are you using speech typing?