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IBFX Review

IBFX is widely regarded as one of the premier brokers in the retail forex market, and there is a reason for this reputation. Guaranteed fills on stop and limit orders, combined with very low spreads, straight-through order processing (no dealing desk) to multiple liquidity providers, industry-standard MetaTrader 4 (MT4) trading platform , straight-through order processing and superior liquidity from multiple sources, knowledgeable customer support staff, decent rollover interest rates, a wide variety of tradable instruments, and many other features make for a very competitive overall package. Many serious forex traders make IBFX their broker of choice.

NOTE: IBFX has been acquired by Tradestation. While this should not have any adverse effect on trading conditions, a strong possibility exists that some things will change. We will update this review if/when we have any further news.

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Subjective Ratings

Charting: Four and Half star Charting Rating
Execution: Four star Execution Rating
User-friendliness: Four and Half star User-friendliness Rating
Customer support: Four and Half star Customer Support Rating
Transaction costs (spreads): Four star Transaction Costs (spreads) Rating
Rollover interest rates: Three and Half star Rollover interest rates Rating
Withdrawal processing: Four star Withdrawal processing Rating
Platform Functionality: Four star Platform Functionality Rating
Platform Reliability: Four star Platform Reliability Rating
Average rating: Four and Half star Average Rating

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Business Details

Broker Headquarters: Utah, USA
Regulated By: NFA Member (0326091)
FCM registered with CFTC
Client Account Segregation: No
Collect Taxes on Earnings: 1099 form sent to US-based clients (and IRS)
Accept US traders?:
Main liquidity providers: Bank of America, JP Morgan, Citigroup, Goldman Sachs
Broker Capital as of 05-2009 $36,507,727
Also has offices in: London, UK
Registered Business Name: Interbank FX, LLC
In business since year: 2001
Deposit/Withdrawal methods:
MethodDeposit FeeWithdrawal Fee
Check $0 $0 - US clients only
Discover $20 Not available
MasterCard $20 Not available
Visa $20 Not available
Wire Transfer $0 $25

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Trading Conditions

Browser platform: None
Downloadable platform: IBFX Meta Trader 4 (MT4)
Mobile platform: None
Phone dealing: Yes
No Dealing Desk Execution: Yes
Fixed spreads: No
Guaranteed stop losses? Orders are executed at best available price.
Hedging capability: Yes
Trading Hours: IBFX is open for trading from 6 PM EST on Sunday until 4 PM EST on Friday.
Timezone GMT
Scalping allowed: Yes
Account currencies available: USD
Platform languages: Arabic, Bulgarian, Chinese, Dutch, English, Estonian, Farsi, French, German, Greek, Hebrew, Hungarian, Italian, Japanese, Korean, Lithuanian, Polish, Portuguese, Russian, Serbian, Simplified Chinese, Slovak, Spanish, Traditional Chinese, Turkish
Support languages: Chinese, English, Japanese, Portuguese, Spanish
Demo account: Unlimited
Live chat support: Sunday 21:00 GMT to Friday 21:00 GMT
Promotions & tournaments: Credit/Debit cards available to US citizens (does not draw on margin account). Many free trading tools available to clients.
Swap-free accounts  Yes, but some extra fees apply
Typical spread on EUR/USD: 2 pips (0.0002)
Order processing: Straight-through to multiple liquidity providers
OCO orders available: No
Trailing Stops: Client-side
If/then orders available: No
Account Types
Account Maximum
Leverage
Minimum/Maximum
deposit:
Minimum/Maximum
trade size:
Notes
Mini Account 50:1* No minimum/$50,000 max $100/$500,000
50:1* No limits $1,000/$5,000,000
Tradeable Instruments: 31   
Automated Trading: Yes
Depth of market view (Liquidity):
Interest on Margin: No
Pending Orders Away from Market:

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* The high degree of leverage available in foreign exchange trading can work against you as well as for you. Investors should ensure they are fully aware of the benefits and risks before putting any money on the line.

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