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Thread: FXLQ Shut down temporarily by NFA

  1. #11

  2. #12
    Quote Originally Posted by ;
    Commerical post for FXCM??
    I have to agree, however they or the biggest, so that they could brag a little.

  3. #13
    Quote Originally Posted by ;
    I have to agree, but they or the biggest, so they could brag a little.
    haha yeah. Well at least you can take it like a fantastic contrast for how a much more established broker likes to present itself vs a non-established one. The non-established one believed that by simply presenting themselves as if they have sufficient funds they will instantly become reliable. This demones those types of smoke and mirrors have to be watched out for. It has to be.

  4. #14
    There's nobody bigger then oanda, fxcm, gft, interbankfx., a forex just broker, this is true.

  5. #15
    Quote Originally Posted by ;
    live chat with interbankfx.

    Thank you for contacting us. The next available agent will probably be right with you. Our goal is quality service. You will tell us how exactly we do today by http://www.interbankfx.com/ClientSer...tFeedback.aspx
    You are now chatting with 'Client Services 50'
    Client Services 50: Hello this is Chris. How may I assist you?
    You: it's a known actuality that interbankfx utilizes fxlq as there liqutiy provider, with case against fxlq by n.f.a. it scares me
    you: whats going on with this
    Client Services 50: just a moment
    you: please explain and be truthful
    you: ok
    Client Services 50: They were one of our liquidity providers but we do not use them
    you: just last month on the forum you guys say you where using them, since when items change
    Client Services 50: we utilize a number of
    Client Services 50: liquidity providers, they were just one
    Client Services 50: because of the NFA action, we no more us these
    you: just how many liquidity providers do you have and is interbankfx a non-dealing desk broker
    Client Services 50: We do have multiple ventures that include but not limited to Citibank, Deutshe Bank, Bank of America, Barclays and Goldman Sachs. These can change at any time and new providers can be inserted without notice.
    You: is interbankfx a non-dealing desk broker
    Client Services 50: this stays the identical
    you: well just how or transactions offset do we exchange together with all the banks or do you guys have to offset the trade
    Client Services 50: we supply you the best price from our liquidity providers we pass your transactions directly to them, of course they've a working desk as they are those filling your transactions,
    Hey Moe,From what I understand from talking to other brokers it is tremendously contrary to their non-disclosure agreements to give the titles of the liquidity providers. Every other broker I've ever spoken to wasn't allowed to tell. I wonder IBFX would risk that...

  6. #16
    Quote Originally Posted by ;
    Hey Moe,From what I understand from talking to other brokers it is highly against their non-disclosure agreements to provide the names of their liquidity providers. Every other broker I have ever spoken to wasn't allowed to tell. I wonder IBFX would risk that...
    My guess is that IBFX are discovering themselves a bit under stress lately.
    It would be quite surprising if the banks mentioned previously were their liquidity providers. Can you see these banks dealing with micro/mini accounts?

  7. #17
    Quote Originally Posted by ;
    Hey ,From what I understand from talking to other brokers it's highly against their non-disclosure arrangements to provide the names of the liquidity providers. Every other broker I have ever spoken to was not permitted to tell. I wonder IBFX would risk that...
    that is the answer they gave me, I simply can not find those bank dealing with micro lots, which makes me think that ibfx must put customers order together until those banks would take this order, all this can be done with no deal desk, even if you have the right program.

  8. #18
    Quote Originally Posted by ;
    My guess is that IBFX are finding themselves a little bit under pressure lately.
    It would be quite surprising if the banks mentioned previously were their liquidity providers. Would you see these banks coping with micro/mini accounts?
    Oh, you mean GS doesn't allow you to trade $1,000 at one time? I've said this before, be VERY leary of any firm that claim things which are too good to be true. At the person's reaction from Interbank, they basically contracted themselves - we pass on the trades directly through to one of our liquidity providers. . .so they really do operate a desk. If they claim they have some intuitive blackbox which automatically pushes the transaction to the appropriate Bid/Ask, they do not. . .as MT4s backoffice is not so sophistied. Hence, firms like Gain and IFX Markets (and probably FXCM) do or will be offering the MT4 user interfact with THEIR OWN backoffice.

  9. #19
    Hi ForexSean...

    The MT4 back office does not process the best bid/ask - which is accurate. . However, there's a program that manages the feeder files and sends the ideal bid ask through to the MT platforms.

    As for the smaller lot sizes. . You're right, the bigger banks don't need those trades. The small ones sent and have been netted.

    Just so we're all upfront. . I perform for IBFX. Maybe not here to cause difficulties or get growled at... but I used to devote a bit of time about the IBFX forum that the Equis forum before that. . We had to take our IBFX forum down because of possible liability problems so I was searching for a new spot to talk to traders.

    M

  10. #20
    Welcome to the forum Marilyn. Too bad about your forum. Where it went, I had been wondering.

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