Could you please give me any information on IFX-Markets Ltd based in Boston, US with offices in London and Shanghai.

Do they honour one's stops for an example; do they also lock you out (like FXCM) during important announcements.

In short will you recommend them as a Dealing Desk ?

Thank you for replying a.s.a.p.

Best wishes.

__________________
"Risk comes from not knowing what you are doing" The Tao of Warren Buffett.

"Avoiding mistakes, makes people STUPID and having to be RIGHT, makes you OBSOLETE." Robert Kiyosaki.

Any volunteers for a reply to my first post above, please?

Thanks.

__________________
"Risk comes from not knowing what you are doing" The Tao of Warren Buffett.

"Avoiding mistakes, makes people STUPID and having to be RIGHT, makes you OBSOLETE." Robert Kiyosaki.

I may reply.
But I have no idea about this broker.

I found in Russian internet the following:

- IFX-Markets Ltd (FOREX Market) is company founded in London in 1995 by IFX Group plc (IFX Group plc was founded in 1933) and having affiliate in US. It is British company (group of companies).

- Later on (in 2004) IFX Markets Inc. (FCM, Futures Commission Merchant) was founded by IFX Group plc as well. And affiliate of IFX Markets Inc. in US.

- Besides IFX Group plc founded the following:
Finspreads (betting);
miniCFDs;
IFX Capital Management.

So, IFX-Markets Ltd is havng more than 20,000 clients and acting under the licence within EU.

It is British company.

Gordago (Gordago tool) is working from IFX-Markets Ltd and IFX Markets Inc..

It's all that I know.

Thank you ever so much, NewDigital. I have looked at their Website and so far I am satisfied that they are "above board." I just wanted to be sure that the traders here have not had any untoward experiences.

__________________
"Risk comes from not knowing what you are doing" The Tao of Warren Buffett.

"Avoiding mistakes, makes people STUPID and having to be RIGHT, makes you OBSOLETE." Robert Kiyosaki.

Hi,

I found this broker rate by someone experienced using this broker...

Broker: IFX Markets USA

Account size: 50K

Current lot size (1 lot = 10K): 28

Customer Service Rating (on a scale of 1 to 10, where 6 is acceptable and 5 is poor): 9

Execution Speed: 10

Spread on Majors: EURUSD 2, GBPUSD 3, USDJPY 2

Transaction fee: $1.25 per round trip on each lot, i.e. 1.25 pips to add to spread.

Funds Safety: 3 As far as I know, they used to guarantee clients accounts with US bonds until a few months ago...However, after IFX Markets Ltd acquired CBFX, funds are no longer backed up by a bond. This is the worst aspect of IFX in my opinion, mostly after the Refco case. I've just emailed my assigned rep and ask him about funds safety. I will publish his answer as soon as he gets back to me.

Other information: Spreads and margins are negotionable when account size reaches 7 figures.

Bad experiences: I have been trading with IFX USA (former CBFX) since November 2005 and so far so good. There have been a couple of times where USDJPY spiked by 1,000 pips but I wasnt in the market at the time...I phoned CS to ask for explanation and I was told it was an error with the chart and their data feed and all clients holding positions with USDJPY at the time would be refunded their money or guaranteed their limit orders. The huge spike also showed on EURJPY, so I assume it was due to a problem with data feed on JPY...There have been a couple of times back in January where their platform wouldnt work for say 15 minutes due to system upgrades...I remember it was early in the morning Europe time...so I called in again and spoke with head of IT who apologized and promptly guaranteed server would be up and running within 15 mins...10 minutes later I could access the broker's platform again...I believe these incidents happened early in 2006 when CBFX was in the process of merging with IFX Markets Ltd, UK...

Conclusion: So far I am satisfied with IFX Markets USA. However, I am still in the process of figuring out whether I can be a full time trader and get my account bigger; if I had a 7-figure account to manage, I probably would be looking for something safer than a FX broker.

===================
Forex Indicators Collection

hi
i trade with ifx markets since 2002...
it was owned by commerce bank, so thier site is cbfx.com, commerce bank foriegn exchange, then at 2004 bought by giant financial broker ifxmarkets(ifxmarkets.com)....
i am an IB for this company at my country,....
last months thay added many crosses and remove some famous pairs...

about thier credibilty, i don,t know exactly, but i trade (manage) large accounts with them and i didn,t face any problem till now(touch wood )
about platform, it is good, stable, but it is not the best...
u can download thier demo and try...

at news announcements:
i don,t trade (open new positions) usually at these times, but tighten SL for opened ones, but as i know theyexecute orders honestly...
about stops:
i trade 4HR time frame... so my stops not less than 80-100 pips....it is not easy for any broker to (swing) price these amounts of pips to hunt stops...
also....
if u need any more informations just PM me....or write what you want

Thank you to you guys for taking the trouble to respond to my post. This has "nailed" it for me and I thank you sincerely.

Wishing you much success.

__________________
"Risk comes from not knowing what you are doing" The Tao of Warren Buffett.

"Avoiding mistakes, makes people STUPID and having to be RIGHT, makes you OBSOLETE." Robert Kiyosaki.

Hello ,


Their platform is not too good, you can't see your positions in real time at all.
You have to go in the statement to see if you are long/short any pairs..
You can only see the positions you have taken very recently , but no position profits etc..

Apart from that, rest is ok , low spreads, and very efficient brokerage, particularly on news , they are more or less never stuck on news etc, like many metatrader brokers.

Thx Mozart, I am already with them. Best wishes.

__________________
"Risk comes from not knowing what you are doing" The Tao of Warren Buffett.

"Avoiding mistakes, makes people STUPID and having to be RIGHT, makes you OBSOLETE." Robert Kiyosaki.

I originally learned about the company when they were Commerce Bank. I attended TradersExpo in Las Vegas where they had a booth. Their slogan at the time:

"Is your money really safe in a forex account - wouldn't it be better in a real bank??"

I found that a bit intriguing, and did some research on the subject. The idea of being able to fly to Boston and going to a teller to withdraw my account in cash seemed like a nice touch. They charged a commission, but once again justified that by saying that they were only a bank holding your money, and had no interest in the arbitrage, and other dealing desk monkey business that forex dealers like FXCM, Gain, GFT, and even Saxo does with your account.

In any case, I opened an account with them. I was happy enough with the execution of the trades. I was scalping, trading news and seemed to get reasonable performance. I just didn't care for the trading platform - very limiting compared to other platforms (however not sure what it is like today).

My main problem with this company was when IFX markets absorbed Commerce Bank. For most of the customers it seemed like a non-event including me. However, it was significant. One day I called IFX and was talking about my segregated account that I could literally fly to Boston and do a withdrawl on. I started to get responses like: "What are you talking about, you can't do that". "All the money is in one big account, and we are segregating it by internal account numbers per NFA guidelines". I mentioned that that is what I was originally told, and they said yes it was that way for while, but that changed when IFX Markets took over.

So in effect, the new IFX account was more or less setup like all the others that I heard them originally comparing themselves to. The only difference is that they still charge a commission. Their argument to that was their spreads are low. My response to that was most of the Metatrader brokers have the same or better spreads, but no commissions - and you get Metatrader also.

I immediately closed my account. I simply did not like their lack of transperancy about the changes. From my perspective, it was like a bait-n-switch play.

-harvester