Oanda Pluses: -large capital base - recent 100MM USD capital infusion from venture capitalists: less likely of a refco situation - Refco was one of the largest FCM's in America and they went bankrupt. The retail fx player got screwed and after about 2 yrs of litigation received somewhere in the area of 25 cents on the dollar of their deposits -tight spreads on most pairs MOST of the time -large selection of currency pairs to trade -adjustable margins -easily linked sub accounts -easy to move money between sub accounts -unlimited time for demo accounts to give you more than the ubiquitous 30 windows that most brokers only give you -can push thru trades easily of 5MM base units and up to 10MM without being requoted or dealer intervention Oanda negatives: -They are a dealing desk, so price is being manipulated, however, you will find that for the most part, the spreads are in line with some of the better players on the ECN level -spreads widen 10 pips 15 minutes before Friday close and don't return to normal until 8pm EDT/EST Sun eve. -monies returned only in the manner in which they were received, i.e. open with a check, returned with a check, opened with paypal, returned with paypal -charting is limited -java based platform, not C++/VB or another programming language written: java tends to be a little sluggish compared to platforms written in another language -frequent disconnects - a common malady with most dealing desks when volume exceeds what the system can handle (by contrast, ECN's don't have dealing desks, they are just a platform to enter trades with their trading partners, so unless their liquidity partners stop accepting orders from the ECN, should always be up
Concerning MBT's spreads, floow this example: you buy a 100k lot of GBPUSD. The dollar value of this trade is 208,000. (100k * 2.08(roughly the current price)). If they charge $5 per $100k, then your commission to enter this trade is 10.60 => 5/$100,000 = x/$208,000 where x=10.6. Your cost to enter and exit the trade will then be (2*10.60) + the spread, in the case of GBPUSD tends to be 1-3 pips even on the ECNs. Try it for other currency pairs and do the math.
Well, realy useful information, I guess I really know which broker should I deal with from your information, Interbankfx is my first broker, I chosed them for it's reputation and services (except for their spreads and widening spreads) --> this several days I was looking so much information about brokers which I would deal with as a comparison to my account in Interbankfx --> your information really helped me and saved my money ! I really don't want to have a 0 pip spread nor 1 pip spread but can't rest nor sleep... (Forexgen is which I mean about 0 pip spread)
What I mean is they're not a scam, will not run away with my money (although just small amount), use metatrader4, no trade policy (as long as above 90 seconds), have micro lot I have seen with my eyes, when Non Farm Payroll, at what currencies I forgotten, I think the spread is 50 pips... What is your experiences with them ?
Too many requotes and put me on manual execution. But I'm just one opinion: http://www.goforex.net/reviews/interbankfx.htm http://www.forexrealm.com/brokers-reviews/#Interbank FX And of course, the ubiquitous forex bastards review board (I won't post a link to him, but some of the reviews are dead on) Also take a look at moneytec's forum for more comments and experience with this broker
The guy from forexbastards is a bastard himself. Try to post a negative review of one of his own services or a good review of his competitor, it won't be posted Interbankfx is nothing but trouble, not for serious traders
Yes, there is many negative opinion about Interbankfx, maybe I'm not a professional trader yet (still amateur and do not trade the news ), so I haven't had any trouble with them yet, but thank you for you guys to pay attention to warn friends in this forum. I believe we ourselves have to screen those opinions, but really this forum is great and all of you are great too ! I'll take another deals with Oanda, then I'll compare it to Interbankfx and then I would have known which is my Prefered Broker. Thank You !
One + for interbankfx,that he offer contest for 250$ account with price until 3000 $ http://www.interbankfx.com/Contest/Rules.aspx FXCM offer that for account with atleast 1000$ Platform of Interbankfx is not good ,overloaded with different junk Best offer from pure agent of principal ,suspect to be from efx exist ib to efx ,which lower commissions From not pure agent (with dealing desk) mgforex software is stable ( two version java and reserved for worst network conditions html) ,offer contest wit hpaer money all with GBP margin offered 1:800 Spread is not good You can try to test demo from http://www.proedgefx.com/gp_systempreview.aspx it is better as interbankfx