DislikedI really need your opinion on this broker.
Firstly, they claim themselves to be an ecn broker.
Secondly, i hear so many people complaining about them.
Thirdly, they are under the NFA and CFTC.
So my question is, why NFA have not gotten rid of this company yet if the clients have evidences of them trying to manipulate their customers. I am planning to invest $10,000 in forex and trying to find a really reliable honest broker. But seems like every single forex broker is being shoot at.Ignored
I traded IBFX for past 7yrs... been thru it all from them saying "we don't tollerate scalping but yet we don't have any concrete definition to what scalping is... we just make it up as we go along."
To now>>> "We just luv scalpers, all scalping EA's accepted."
"We don't trade against our clients."
To now>>> "The CFTC is making us say... we are the counter party to any trade you make, we fully control the price we sell a particular currency... but hey don't worry, you aren't trading on an actual exchange anywho... so whoopti do."
[We are in CFTC pocket and they in ours. We are one in the same, we don't care what you think... 9000 comments don't mean nothing to us. ]
It all comes down to money. Think long and hard before you stick $10k in any broker. Start out small... test them, test them, test them... but if you are stuck with 50:1 starting out with a small account will really hand cuff you. You will not be able to maintain many positions at once.
If not for the 50:1 I would likely still be with them.... in the end tho' thinking back on all the BS they put us thru... I think it's probably better I'm not with them anymore.
If you have a good system it will fail just as easily at $1000 as it will $10,000. Don't let greed be your downfall. If you don't have patience to start at 1k, patience will flee from you when you are down $7k.
Forex is hard fought for money... trading with real money changes everything. Start small and work your way up with "their" money.