Foreign Exchange Brokers

IBFX

When looking through the various foreign exchange brokers in the market, IBFX is likely one that you keep hearing about. IBFX is one of the leading Forex brokers in the world today. In this Forex broker review, we take a look at what they can offer you as a Forex trader.

Overall Rating: 9/10

Safety of Funds: 10/10

Customer Service: 10/10

Convenience: 10/10

Tools: 8/10

Execution: 8/10

Minimum Account Size: $1.00

Forex Broker Review

IBFX is one of the best known Forex brokerage firms in the industry today. They are situated in the United States and they have impeccable customer service. One of the primary drawbacks of working with them is the low leverage that you have to trade with since you are trading with a U.S. broker. Currently 50:1 leverage is the biggest leverage that you can get. While this isn't a huge deal with some trading strategies, it does require you to put up more money to make trades (and somehow this protects us from ourselves. Thanks NFA!)

Execution on their trading platform is pretty decent most of the time. During busy trading times, you might have to wait a fraction of a second to get most of your orders filled at market price. As far as safety goes, this is one of the safest and most reliable brokers you can find. You shouldn't be scared about leaving your money with them.

One of the nice features of this broker is that you can deposit and withdraw via credit card or debit card. When you deposit with this method, you can sometimes get the money in your account in under an hour. This can come in handy when you are itching to start trading the market (even though that usually leads to losing money faster than normal).

Another positive with IBFX is that they do not have a minimum on deposits. Although I guess, technicallly, the minimum would have to be $1.00 since you can't deposit $0.00. But you get the point. This allows even the brokest of traders to get involved.

Overall, I would highly recommend this broker if you value safety and customer service. If you are using a strategy that requires high leverage, such as a piece of Forex software, you will probably have to go with foreign exchange brokers outside the U.S. If you can get around the leverage issue, this is definitely a good one to check out. You can fill out an application for an account on their website and get started trading quickly.

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