Our Review of IBFX
IBFX Company Overview
IBFX is at the forefront of the fast growing, Forex industry. It is one of the fastest growing Forex brokers in the United States, and will continue to be so for many years to come. This broker provides a large multi-bank liquidity pool. It also has low spreads (The difference between the bid and the ask price of a security or asset.), and is relatively easy to access for beginners. Their website is simple and sleek. It doesn't take much to navigate and it has very useful tips and definitions to help out first time customers.
IBFX Account Types
IBFX has two account types. It has a standard account and a MiniAccount. They both include the basics. The only real difference between the two are the lots.
The Standard account has a maximum trade size of 50 standard lots and a minimum trade size of 0.01 standard lots. A standard lot is equivalent to 100,000 units of the currency used in a forex trade. For example, if you want to buy $100,000, then you are actually buying a standard lot with 100,000 units.
The Standard Account also offers a 50:1 Leverage ratio. The ratio is used to calculate the leverage of a company to find out their methods of financing or to measure how it meets the financial obligations.
It also has access to the Dow Jones Newsfeed and Professional Charting. In addition to that it has free non-expiring demo accounts, and it's a No-Swap Account.
The MiniAccount has a maximum trade size of 500 mini lots, and a minimum of 0.01 mini lots. Mini lots are similar to standard lots. They're just 1/10 the size. So this would be used if you had less money to use on trading.
The MiniAccount also includes all the same features as the Standard. It has the 50:1 ratio, the Newsfeed, and everything els.
Commission and Spreads
IBFX charges a spread on trades. This makes things remarkably simple. The spreads can vary, but are usually very right. A common spread would be approximately two pips on the USD. Sometimes the markets can widen, but this is usually when they are volatile.
IBFX used the MetaTrader 4 platform. It is one of the most popular forex trading platforms available. It's easy to use and is packed with useful charts and information. The MT4 platform offers automated trading, one-click trading, and friendly customer service.
IBFX offers email, phone, and even live chat when it comes to customer support. They are available 24 hours a day as long as the FX markets are open. The customer support is offered in several different languages, and it has won countless awards for its service.
Awards & Promotions
IBFX has been voted #1 in more categories than any other forex broker. They are also the winner of the Trade Execution award. (Their execution rates are well above 99%)
IBFX is constantly adding new promotions for traders. They usually have a new one every month. For example, at one point they offered a bonus of 10% on deposits.
IBFX is a very popular and very good broker. It is the fastest growing, and the current leader of forex trading. It is extremely reliable, and has a very high execution rate. The trading software it offers is top notch and will not fail. It has excellent 24 hour customer service that has received awards for its performance. The quality of this broker is absolutely stunning.