IBFX

Category: Forex Broker Reviews http://www.ibfx.com Average user rating from: 8 user(s) Broker Rating 1.3   Add new review Your name:* Your email address (it will not be published):* Your location: Select location: Afghanistan Albania Algeria American Samoa Andorra Angola Anguilla Antarctica Antigua and Barbuda Argentina Armenia Arctic Ocean Aruba Ashmore and Cartier Islands Atlantic Ocean Australia Austria Azerbaijan Bahamas Bahrain Baker Island Bangladesh Barbados Bassas da India Belarus Belgium Belize Benin Bermuda Bhutan Bolivia Bosnia and Herzegovina Botswana Bouvet Island Brazil British Virgin Islands Brunei Bulgaria Burkina Faso Burundi Cambodia Cameroon Canada Cape Verde Cayman Islands Central African Republic Chad Chile China Christmas Island Clipperton Island Cocos Islands Colombia Comoros Cook Islands Coral Sea Islands Costa Rica Cote d'Ivoire Croatia Cuba Cyprus Czech Republic Denmark Democratic Republic of the Congo Djibouti Dominica Dominican Republic East Timor Ecuador Egypt El Salvador Equatorial Guinea Eritrea Estonia Ethiopia Europa Island Falkland Islands (Islas Malvinas) Faroe Islands Fiji Finland France French Guiana French Polynesia French Southern and Antarctic Lands Gabon Gambia Gaza Strip Georgia Germany Ghana Gibraltar Glorioso Islands Greece Greenland Grenada Guadeloupe Guam Guatemala Guernsey Guinea Guinea-Bissau Guyana Haiti Heard Island and McDonald Islands Honduras Hong Kong Howland Island Hungary Iceland India Indian Ocean Indonesia Iran Iraq Ireland Isle of Man Israel Italy Jamaica Jan Mayen Japan Jarvis Island Jersey Johnston Atoll Jordan Juan de Nova Island Kazakhstan Kenya Kingman Reef Kiribati Kerguelen Archipelago Kuwait Kyrgyzstan Laos Latvia Lebanon Lesotho Liberia Libya Liechtenstein Lithuania Luxembourg Macau Macedonia Madagascar Malawi Malaysia Maldives Mali Malta Marshall Islands Martinique Mauritania Mauritius Mayotte Mexico Micronesia Midway Islands Moldova Monaco Mongolia Montenegro Montserrat Morocco Mozambique Myanmar Namibia Nauru Navassa Island Nepal Netherlands Netherlands Antilles New Caledonia New Zealand Nicaragua Niger Nigeria Niue Norfolk Island North Korea Northern Mariana Islands Norway Oman Pacific Ocean Pakistan Palau Palmyra Atoll Panama Papua New Guinea Paracel Islands Paraguay Peru Philippines Pitcairn Islands Poland Portugal Puerto Rico Qatar Reunion Republic of the Congo Romania Russia Rwanda Saint Helena Saint Kitts and Nevis Saint Lucia Saint Pierre and Miquelon Saint Vincent and the Grenadines Samoa San Marino Sao Tome and Principe Saudi Arabia Senegal Serbia Seychelles Sierra Leone Singapore Slovakia Slovenia Solomon Islands Somalia South Africa South Georgia and the South Sandwich Islands South Korea Spain Spratly Islands Sri Lanka Sudan Suriname Svalbard Swaziland Sweden Switzerland Syria Taiwan Tajikistan Tanzania Thailand Togo Tokelau Tonga Trinidad and Tobago Tromelin Island Tunisia Turkey Turkmenistan Turks and Caicos Islands Tuvalu Uganda Ukraine United Arab Emirates United Kingdom USA Uruguay Uzbekistan Vanuatu Venezuela Viet Nam Virgin Islands Wake Island Wallis and Futuna West Bank Western Sahara Yemen Yugoslavia Zambia Zimbabwe Ratings (the higher the better) Broker Rating Rate it Scam 1 2 3 4 5 Comments:     Please enter the security code. Add new review Reviews Feed February PROMOTION Learn more. FOREX JUSTICE SPOTLIGHT ARTICLE   Read more. Company response We have not received a comment or response from this company. User reviews Saturday, 26 June 2010 Written by Disappointed from USA I have been trading with Ibfx for some time now and the worst thing about them is their constant re-quotes, but that only happens when you are on the right side of the trade. I went with them because of the no dealing desk sell, but they are definitely not working or you. I avoid a lot of that by putting in a tp. It happens to me most often when I am trying to enter on the best side of the trade. I am planning to move my capital. I am thinking oversees, but I scared. I am a very profitable trader, but the truth is if I knew then what I know now; I would have never put my name on the dotted line. Lastly they make it really difficult to get your money unless you want to pay fees. I was with forex.com and they sent your money out within 24 hours, they are not good either that is why I left them. Stay away from them too. I am about to fax a request for money from IBFX now. When you want your money. You have to go online submit the request print it out, fill it out and then fax it. It is Saturday 6/26/10 and I will not get my money until next Friday 7/2/10. If you are new, please ask your Friends or someone you trust for a good broker. If you are an old head like me, you can still make money but it still pisses you off when they are always re-quoting you. I have to say that as I have been taking more and more profit from them, I have more re-quotes..........lol Not a good company, but I get paid, in spite of them......... SCAM Thursday, 01 October 2009 Written by Alex Findlay from USA Last year I posted a warning about doing business with Interbank FX and or IBFX. I suggested that traders avoid them. Check out the latest NFA action. Consider this why would any company send me an unsolicited emails offering an account with $25.00 in it, and what can you trade with $25.00. It spelled desperation and violated Federal law. Alex Findlay NFA fines Utah forex dealer member, Interbank FX LLC and its principal $225,000. See the full complaint and Interbank’s response NFA fines Utah forex dealer member, Interbank FX LLC and its principal $225,000 July 30, Chicago – National Futures Association (NFA) has ordered Interbank FX LLC (Interbank) and its principal, Todd Crosland to jointly pay a fine of $225,000. Interbank is a Futures Commission Merchant and Forex Dealer Member of NFA, located in Salt Lake City, Utah. The Decision, issued by NFA’s Business Conduct Committee, is based on an NFA Complaint filed in July 2009 and settlement offers submitted by Interbank, Crosland and Amanda Albretsen, also a principal and former compliance director of Interbank. The Committee found that Interbank, Crosland and Albretsen failed to implement its anti-money laundering (AML) program and failed to adequately supervise its electronic trading system. Additionally, the Committee found that Interbank, Crosland and Albretsen failed to adequately supervise the solicitation of non-Member solicitors who used deficient promotional material. The Committee also found that Crosland failed to supervise Interbank’s activities. Interbank and Crosland must also submit to NFA within 180 days a final independent review of its electronic trading platforms conducted by an outside party to ensure that Interbank’s electronic trading platforms are in compliance with NFA requirements. The charges against Albretsen will remain open for one-year and will be dismissed if Albretsen is not charged by NFA for failure to supervise during the one-year period. The complete text of the Complaint and Decision can be found on NFA’s website (www.nfa.futures.org) July 30, Chicago – National Futures Association (NFA) has ordered Interbank FX LLC (Interbank) and its principal, Todd Crosland to jointly pay a fine of $225,000. Interbank is a Futures Commission Merchant and Forex Dealer Member of NFA, located in Salt Lake City, Utah. The Decision, issued by NFA’s Business Conduct Committee, is based on an NFA Complaint filed in July 2009 and settlement offers submitted by Interbank, Crosland and Amanda Albretsen, also a principal and former compliance director of Interbank. The Committee found that Interbank, Crosland and Albretsen failed to implement its anti-money laundering (AML) program and failed to adequately supervise its electronic trading system. Additionally, the Committee found that Interbank, Crosland and Albretsen failed to adequately supervise the solicitation of non-Member solicitors who used deficient promotional material. The Committee also found that Crosland failed to supervise Interbank’s activities. Interbank and Crosland must also submit to NFA within 180 days a final independent review of its electronic trading platforms conducted by an outside party to ensure that Interbank’s electronic trading platforms are in compliance with NFA requirements. The charges against Albretsen will remain open for one-year and will be dismissed if Albretsen is not charged by NFA for failure to supervise during the one-year period. The complete text of the Complaint and Decision can be found on NFA’s website (www.nfa.futures.org) SCAM Wednesday, 01 July 2009 Written by Janice from Malaysia Scam!! they are stop hunter, they stop you way before ur stop point. iWhen i was in profit, i always get to reqoute, but when in loss, the order submit immediately. i complained to Introducing broker in penang, the claim the market is volatile when i want to close, but the fact is it was more volatile when i was in loss when i want to cut!! why in loss such volatile no need to requote? the introducer broker is just scam, they will sweet talk you just to earn ur commission and spread rebate. SCAM, i came to this webpage before i started with them but they will ask me to ignore this webpage's comment as only bad comment was approve, i submitted few good comments bout other company that was approve. now i believe that those ppl comment here was real. i regretted i didn;t take the comments on this webpage seriously before, it was an expensive experience. so my advice is stay away, especially if u plan to go thru the IB in tanjung tokong. SCAM Friday, 19 June 2009 Written by JJ. Penang from Malaysia 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!!!!!!!!!!!!! Monday, 13 April 2009 Written by Jasey from Malaysia Legal doesn't mean ethic. IBFX mislead traders of their regulated, non desk dealing, awards bla bla .. But start from Dec08, This scammer show it's color with raising spreads , disconnect offen in Asian Session. The story is : Traders trade against brokers. IBFX afraid of losing money since the commercial EA Faptuxxx launch. Thanks for Faptuxxx revealing those scammers. SCAM Friday, 30 January 2009 Written by Liz from Malaysia I live traded with IBFX for almost 1 year IBFX is simply a legally scam company. I’ve lost a lot of money with them without doing anything wrong, every time I start to make money and I want close my position, I get re-quote/ off-quote error and the platform won’t let you until you start loosing money then you can close your position. I don’t know how they get awards; they must have bought these awards from the money they are stealing from us (stupid customers like me) IBFX live accounts platform is different from the demo accounts platform. IBFX will always blame you, although you’ve not done anything wrong and that’s a sign of a legal thief. Stay away from IBFX. IBFX IS = SCAM, THIEVES, HEARTLESS, MAFIA Tuesday, 06 January 2009 Written by Jairo from Brazil I am an IBFX client since 2006. No major problem. Trade only EURUSD. Spreads fluctuate, but most time are 2 pips. I run an EA that is configured to not pay more than 3 pips spread. It runs smoothly. Thursday, 11 December 2008 Written by Joe from USA I'm not even going to rate them... (Oh well I guess I have too, I still give them a 3 because they are easy to deal with besides the crookedness) The problem is their spreads, they have been going crazy straring Monday December 8, 2008 and continuing everyday until now which is the 11th of December. They are moving the spread to suit them.. My USD/CAD trade started moving in my direction and they increased the spread on it to 26 pips to keep my trade in a loss and they have been doing this on the GBP/CHF and the among other currencys. Usually starting in the Afternoon when just Sydney is open and nothing is happening in terms of news etc. How are you supposed to trade with them taking all your profits for themselves. Thats so crooked! When you phone customer service they just claim that they are having problems with their liquidbility providers.. (yeah right, they are changing the spread as it suits them) Anyone know of any action we can take against them besides swithcing to a diffrent broker?? Anyone else notice this? You can see more if you search IBFX gone crazy on google