No problems with broker, scalping and running EA. Spread is a problem, yes. Sometimes very wide. Customer support and live chat excellent. However, this year they deposited twice the amount from my credit card but notified me immediately and did the refund before I could reply. Just be careful and make sure about all transactions.

The latest NFA action adds credence to my warning in 2008... Alex Findlay

NFA fines Utah forex dealer member, Interbank FX LLC and its principal $225,000
July 30, Chicago – National Futures Association (NFA) has ordered Interbank FX LLC (Interbank) and its principal, Todd Crosland to jointly pay a fine of $225,000. Interbank is a Futures Commission Merchant and Forex Dealer Member of NFA, located in Salt Lake City, Utah. The Decision, issued by NFA’s Business Conduct Committee, is based on an NFA Complaint filed in July 2009 and settlement offers submitted by Interbank, Crosland and Amanda Albretsen, also a principal and former compliance director of Interbank.
The Committee found that Interbank, Crosland and Albretsen failed to implement its anti-money laundering (AML) program and failed to adequately supervise its electronic trading system. Additionally, the Committee found that Interbank, Crosland and Albretsen failed to adequately supervise the solicitation of non-Member solicitors who used deficient promotional material. The Committee also found that Crosland failed to supervise Interbank’s activities.
Interbank and Crosland must also submit to NFA within 180 days a final independent review of its electronic trading platforms conducted by an outside party to ensure that Interbank’s electronic trading platforms are in compliance with NFA requirements. The charges against Albretsen will remain open for one-year and will be dismissed if Albretsen is not charged by NFA for failure to supervise during the one-year period.
The complete text of the Complaint and Decision can be found on NFA’s website (www.nfa.futures.org)

July 30, Chicago – National Futures Association (NFA) has ordered Interbank FX LLC (Interbank) and its principal, Todd Crosland to jointly pay a fine of $225,000. Interbank is a Futures Commission Merchant and Forex Dealer Member of NFA, located in Salt Lake City, Utah. The Decision, issued by NFA’s Business Conduct Committee, is based on an NFA Complaint filed in July 2009 and settlement offers submitted by Interbank, Crosland and Amanda Albretsen, also a principal and former compliance director of Interbank.

The Committee found that Interbank, Crosland and Albretsen failed to implement its anti-money laundering (AML) program and failed to adequately supervise its electronic trading system. Additionally, the Committee found that Interbank, Crosland and Albretsen failed to adequately supervise the solicitation of non-Member solicitors who used deficient promotional material. The Committee also found that Crosland failed to supervise Interbank’s activities.

Interbank and Crosland must also submit to NFA within 180 days a final independent review of its electronic trading platforms conducted by an outside party to ensure that Interbank’s electronic trading platforms are in compliance with NFA requirements. The charges against Albretsen will remain open for one-year and will be dismissed if Albretsen is not charged by NFA for failure to supervise during the one-year period.

The complete text of the Complaint and Decision can be found on NFA’s website (www.nfa.futures.org)

Last year I received an unsolicited email from this Company with a link and note that they had opened an account for me and place $25.00 in it. What can you do with $25.00 in a trading account except add to it or loose it. I advised them that their email was in violation of the Federal Can Spam act that could subject them to a million dollar plus fine. They never responded I I did not persue it other than post a warning to be wary of trading with Interbank and or IBFX. They started posting reviews from Dubai but FX oir Forex trading in Dubai has increased over 500% last year. This is simply an update on my warning from 2008 to choose your broker carefully.

Sincerely

Alex Findlay.

PS: I am in Dubai and Interbank and IBFX has used the net quite well to limit limit damage and try to discredit my previous review, however this 2009 action by the NFA mirrors my 2008 comments. The only thing I would like to add is how does a quarter million dollar fine compensate all the IBFX Interbank victims. We need someone like the New York attorney General to fight for the small guys. I personally do not know any attorneys that are interested in claims of less than millions of dollars and that does not fit the profile of the average Forex Trader.

I know this broker is DD, because in asian time where the scalper do their work, IBFX widen their spread, EUR/GBP went up to 20 pip!!!!!

The easiest way to compare a broker, whether its good or not, you can open www.mbtrading.com, it have their spread shows in the first page of web, and it's real spread + 5 USD for commision/ turn around lot.

And once i got my SL color became yellow, which mean my order is not filled (re-quote) until about 30 pips, if they really have 7 liquidity provider, i don't think it will happened.

STAY AWAY FROM THIS BROKER, IT"S SCAM.