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If you find some problems with your platform. They spike up and down to trigger stops and kick you out. They refunded my money a few days later, too late for me take advantage or conduct anymore trades. Their charts are easy to read and their platform is pretty intuitive but who cares when they go stop hunting and wipe out their customers money.
Spreads get out of control sometimes. Occasionally, the platform freezes, but not as often as it used to. They also had spreads widen 6 pips today with no economic news. Yes all of the horrid reviews you read about IBFX is true, they are the crooks that you read about.
Stay away, even if you are a seasoned trader like me. New traders definitely stay away, or they will skin you alive and rob you blind in plan sight with all kind of platform crashes, especially if you have a trade that is really going in your favor in a big way, then your platform will mysteriously repair in self when your trade is going against you.
If you open a trade with them and it is going your way, please for your sakes do a trailing stop to lock in your profits of have a TP level, and if it is a really big trade, they still may not close it once your TP is hit.
Also their re-quotes are ungodly. Not great not a scam either. The ones rating them as a scam are just noobs. They are a budget broker. I don't use them anymore because of connection issues. You can connect ninja trader to them which is better. But it takes to long to load historical data. So you are better off just storing live data from the price feed from TWS that ninja trader makes into bars from the ticker.
Ninja has millions of indicators you can learn to make your own, or pay a dude to make them, and auto trading scripts. Anyone wanting to use Ninja Trader I recommend going to there webinars to teach you to use it. Because it took me 2 years before I got the hang of it.
Again thier spreads are to high. What I think is they have a lack of liquidity. They are not a non dealing platform. I also think they had lost hundreds of customer due to the same reason. Stay away from them.
I opened a demo account about a month ago and did fairly well. I have a broadband connection and experienced screen freezes, large spikes in the opposite direction taking out my positions and returning to previous levels, and requotes which were never in my favor.
You will not make money with this broker. I have included 1 of my many experiences with FXCM.. I will add more experiences with other brokers soon.. 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" 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.
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. 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.
However, I've been reviewing other brokers recently and came across many sites that call IBFX a scam. I'd be hesitant to call them a scam myself, since I know I can make money.
Your money is not safe. Swap-free accounts are also available. Along with Metatrader 4 MT4 , the broker offers the TradeStation platform that features neat options like a quick trade bar, real-time market depth, hundreds of technical indicators, and the possibility to create apps in EasyLanguage.
The Autochartist pattern recognition tool, a volatility indicator, risk calculator, Expert Advisors for MT4, etc. The regulator overseeing IBFX Australia's operations is the ASIC — an organization known for its tough but fair requirements; this means that investors have no reasons to be concerned about the safety of their money.
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