Editor’s Verdict
Overview
Review
Headquarters | United States |
|---|---|
Year Established | 2001 |
US Persons Accepted? |
Through an agreement signed in September 2014, FXCM Holdings LLC, a subsidiary of FXCM Inc, has acquired all IBFX, Inc. and IBFX Australia Pty Ltd MetaTrader 4 retail Forex accounts. As a result of this deal, IBFX clients using the MT4 platform will be transferred to the FXCM MT4 platform.
Formerly known as InterbankFX, this global Forex broker is currently rebranding itself as IBFX, though its services remain largely the same.
InterbankFX (IBFX) provides:
A Sophisticated Charting Program;
Real-Time News;
Phone, Online and Email Customer Support For Customers;
Extensive Educational Resources.
Autotrading availabillity (like Markets.com and other top Forex brokers)
Opening an account with IBFX is easy and requires scanning two forms of ID to upload. Once you upload the information, along with your application, you receive an email with further instructions on how to fund your account. The minimum margin deposit for funding new accounts is $2,500 for Standard Accounts and $250 for Mini Accounts. However before you commit any money, you can access a free trial program to try the site and all its features with $10,000 to $100,000 virtual.
InterbankFX (IBFX) services include:
Two trading platforms, a downloadable client and a platform for wireless mobile devices;
The ability to trade 12 major currency pairs;
Spreads of 2-5 pips (which are somewhat high compared to other brokers);
Customizable, easy to use, charting tools;
User-friendly environment;
News & Commentary.
The site offers support in 17 languages, and includes several video tutorials to help you use the trading platform. Emails are answered within 48 hours, and live help is available 24 hours a day. In addition, the site includes a user forum through which traders can exchange tips and advice. However, the links on the user forum that are supposed to direct readers to their account and other sites do not work.
IBFX offers an abundance of training materials including short videos, webinars four days a week, and the IBFXU Forex education site, which includes audio and video lessons, guest writers, quizzes, and more.
IBFX offers one of the only platforms in the world that has automated trading capabilities, called Expert Advisors. An Expert Advisor is an automated trading system (ATS) written in the MetaQuotes Language II (MQL II) and linked to a particular chart. That Expert Advisor notifies you of trading opportunities and executes trades on your trading account, sending them through to the trading server. Expert Advisors will also let you test your strategies on historical data, and will plot entry/exit points on the chart. You can also write your own Expert Advisor, and if you need help, you can visit the Expert Advisor Help Section.
The experience of getting to know the broker through the web site does not provide enough data to be able to actually chose this broker or understand what you are getting into signing up and opening an account with them. This site seems incomplete and not nearly as comprehensive as some others. However, should a user choose to open an account with IBFX he will enjoy a user-friendly Forex trading environment, and receive timely and effective customer support.