November
15

IBFX trade resolution

Posted In: Forex by Jose

Here is the answer from InterbankFX and my answer to them:

Jose,

I have reviewed your account for order numbers 21474775, 21502380, 21502421, 21509454. I am sorry about the server connection going down on Nov. 9th and we have restored order numbers 21499693 and 21504246 that were stopped out incorrectly. This market is all electronic and in the customer agreement there is the notice that we are not liable for your system outages and disruptions. I am sorry that our agents did not get to you in a timely manner when the server was down due to the high volume of calls and chats we had at that time. Since we did not recieve a request to close or modify your order at a particular price or time we cannot adjust these orders. The orders will stand as they are and no modifications will be made to them.

xxxx 

Hello xxxx,

so everytime your server is down we will lose all our money or a great amount of money if a great fall will ocurr without the possibility to change our positions, is it logical to trade in that manner?. Who will trade in these conditions?. Well, I know more than you tell me because I am with you many months and I have seen many strange things (server lagging, prices different even in 80 pips from the real market, etc…). I have my own opinion about these “technical problems”…

Anyway I will make what I consider necessary against your company and I will post in my Blog and in other Blogs about all these problems. Many people must be thinking to deposit a great amount with you and they will not do it after reading me. So you will lose more money than refunding me. I am into the financial world and many people read me and trust me. I will also send to NFA and others what´s happening here.

Sorry but I must do it because a company that doesn´t fix these type of problems is not a good company to me. I can trade great and even doing good I can lose all my money with you being your failure, not mine. And we don´t know if it happens because your company is doing it stopping us to gain money and losing a lot or it´s a normal failure in your server. But the most important is that someone can not trade in these conditions and when a problem appears you don´t do anything to fix it.

I will trade with the few money that you left me after your problem but I will not deposit here anymore.

Regards,
Jose A. Leon

5
November
13

One of my Forex strategies

Posted In: Forex by Jose

I hope it can be useful to you. I hope you can understand it, my English language is not very good :P

Right click and download:

http://noponzi.com/trading_sr.pdf

3
November
13

Maybe you read about what they did to their investors this last Friday in my last post. They have not given me a solution until now and I think that it will not be solved.

Read these interesting links about InterbankFx with NFA, and comments in Felix´s Forex website:

http://www.nfa.futures.org

http://www.forexbastards.com/public/review/www.interbankfx.com

1
November
9

This can be funny to many people but I am not laughing at all. I will tell you what happened to me today with this Forex Broker.

Today I was supervising my account with some long trades opened. I didn´t place a stop loss because I was supervising my account in those moments and I have 2 internet connections if something happens (my bad, never more).

The price in some pairs (gbp/jpy, eur/jpy) reached the buttom of the 1 hour trend line and I was watching if the price could break or not this trend line, my decision was that it was going to retrace upwards after touching the trend line and I was only waiting the next candlestick to decide if I should close or not these positions, and so if opening short trades.

I also had 2 long positions opened to collect few pips in gbp/usd and eur/usd.

Suddenly there was something wrong, the pairs were not moving at all and I looked in my girldfriend´s account to confirm (with another Forex Broker). I was right, the Interbankfx server was stopped and these pairs began to fall a lot!!. I couldn´t close my positions nor opening my short trades!!. If you trade Forex you will know what happened today with these pairs.

After 15 minutes I contacted with support online and I received an automatic message telling me that they had “technical problems” and to be solved in 15 minutes… what a coincidence!!… a great fall and just in those moments technical problems…

After 1 hour or more (not those 15 minutes) and an incredible fall (more than 500 pips!!), when these pairs were stopping to fall, then the server returned normally (I thought the same: the server will return when this fall stops). Even I could see that eur/usd and gbp/usd, where I had a TP that should have been reached when the server was frozen, they were not closed when it returned!!

I contacted again with support online to make a complaint about eur/usd and gbp/usd with my TP,s (I have my opinion about the other technical problems) and after the presentation I asked correctly my complaint and I didn´t receive any answer at all. I waited some minutes more and typing: are you there???

NOTHING!!!!!!!

I made a good result these 2 weeks: 13% profit, and I was even in the Interbankfx´s contest with a good ranking: 32.

Now I can only see some incredible negative positions and my margin decreased a lot.

What do you think?. Did you see the same “technical problems” in this Broker many times before?.