Is IBFX (InterBankFX) a real ECN like IB IDEALPRO and HotSpotFX?

Discussion in 'Forex' started by snackly, Apr 10, 2009.

  1. snackly


    Seems as if they claim to be on their site, unless I'm misreading it. Can anyone verify? Anyone have good/bad experiences with them?
  2. joemiami

    joemiami Guest

  3. cstfx


    How much commission do they charge per trade?
  4. IB lists themselves as a liquidity provider so they can match trades between IB's customers.

    Their commission is 0.2 pips each way with a minimum commission of $2.50. For USD accounts, the commission is calculated in the buying currency and immediately converted to USD at current rate.
  5. cstfx


    It was a rhetorical question concerning the IBfx business model, not InteractiveBrokers IdealPro.

    For those slow on the uptake, if you are not charged a commission and they make their profit in the difference in the spread, then they are manipulating the quote, which means they are not true ECN.
  6. Yes, IBFX is a real ECN.
    There are some banks making markets, you can also enter your limit order and go in front of them.

    The commish is about the same as CME globex currency futures (retail), i.e. about $2 per $100k traded.
  7. cstfx


    Do you have a link to these rates? Couldn't see it on their site.
  8. cannot link it.
    go -> fees -> commissions -> choose forex (tab)
  9. cstfx


    Again, for those slow on the uptake, you are quoting interactivebrokers fees. OP asked about interbankfx (IBfx).

    The question again is:

    Is interbank fx an ecn or a dealing desk?

    based on their web page and choice of software, I am inclined to believe that they are a dealing desk broker.
  10. snackly


    Thought so as well, just that I thought I saw somewhere that they claimed ECN-ness. Could be wrong.

    And yeah I too was befuddled with all the responses about IB-IDEALPRO.. Probably confused the issue though by having that in the subject.
    #10     Apr 13, 2009