IBFX has been one of the fastest growing Forex brokers in the United States for several years running, and with good reason. The broker is known for its large multi-bank liquidity pool, and the low spreads that a variable spread broker can give traders.
The broker is very easy to access for the beginner, as it has a very easy to understand website, allowing traders of all skill levels to understand trading in general, as there are a lot of explanations and helpful tips as well as definitions regarding the FX markets on the site.
IBFX uses the very common MetaTrader4 platform, which is the most common platform on the market. The MT4 program allows for traders to either script or import expert advisors, (or auto trading programs) and handmade indicators. This allows for the largest flexibility in the market place, and the charting is fantastic as the MT4 platform is known for its charting.
IBFX has live chat, email, phone, and even international phone lines that allow you to reach customer service 24 hours a day, as long as the FX markets are open. The customer service department is available in several different languages, and has won several customer service awards for their ability to solve issues.
The platform is extremely reliable, and boosts a 99.90% execution rate. This means that the platform is fast, and rarely requotes. The MT4 platform that is used is the standard by which all others are measured. It is obvious by the execution rate that the backend software IBFX uses comes through for the trader as well.
Commissions and Spreads
IBFX charges a simple spread on trades, foregoing a commission. This keeps things simple, and the spreads are variable, so under normal conditions are very tight. It is quite common to see a spread of 2 pips on the EUR/USD as an example. The markets can widen, but this is normally during the most volatile of markets.
IBFX is constantly changing their promotions for traders, normally coming up with a new one every month. Currently, at the time of writing – they are offering a bonus of 10% on deposits of more than $2,000 for new traders.
IBFX is well-known and very popular as a broker, especially in the US. They are regulated in the US, as well as Australia. The platform is ideal, as most traders will have used the MT4 before, and the amount of free add-ons to the platform is simply staggering. The broker allows a credit card deposit, and is quick to return your profits via the same card or check. You can also mail a check to fund your account as well. Of particular note, the account can be attached to an IBFX debit card, giving you access to your account at any time. It also offers virtual private servers for those of you that prefer to use the automated trading robots and require a VPS to protect the robot from Internet outages, etc.
Variable spreads. This keeps the spread tight, which is one of your biggest expenses as a trader.
The MT4 platform is very expandable and can easily be customized.
VPNs are available.
The deposit process is simple and quick.
Limited to only Forex, so if you are looking to trade other markets, you will need another broker.
The variable spreads can be an issue during news events, but only if you are looking to scalp the news announcement.