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Interbank FX "off quotes"

  • Post #1
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  • First Post: Jul 1, 2008 12:45am Jul 1, 2008 12:45am
Last couple of weeks Interbank FX turned into an impossible broker. They do not let thru orders during news times, but the worst part is they don't let close positions. If you have position open and you trying to close it you get "off quote" message. My last position I tried to close it about 20 times (the price almost did not move but they still would not close my position). Finally I restarted metatrader and I was able to close my position. Lucky for me that time price was changing in the direction positive for me. I know other traders that also complain about it. This is for sure way to loose money. When I asked them about it they said :
"
there was not another price offered to you"

But I am not trying to open position I am trying to close my position.

Does anyone else has similar issue with IBFX?

Next time it happens I'll record it and post a video just to make sure you guys understand what I am trying to say.
That happened to me before also at IBFX. They said to close metatrader and then re-open. It worked. They said if you dont close metatrader once a day that could happen. I dont know why. I now close it twice a day and do not have the problem anymore.
Quoting aleksandr
Last couple of weeks Interbank FX turned into an impossible broker. They do not let thru orders during news times, but the worst part is they don't let close positions. If you have position open and you trying to close it you get "off quote" message. My last position I tried to close it about 20 times (the price almost did not move but they still would not close my position). Finally I restarted metatrader and I was able to close my position. Lucky for me that time price was changing in the direction positive for me. I know other traders that also complain about it. This is for sure way to loose money. When I asked them about it they said :
"
there was not another price offered to you"

But I am not trying to open position I am trying to close my position.

Does anyone else has similar issue with IBFX?

Next time it happens I'll record it and post a video just to make sure you guys understand what I am trying to say.
there's your answer in bold print.
If I Go Broke Trying Then I Will die happy.
Moe, that is good, but sometimes I have 5 positions open, and it lets me close one at a time, market starts moving and I am loosing pips. Feel me there man, this has just started happenning. Their explanations is bull sh...
Here is an example - this is from my journal from today. Do I have to restart my program after every open order?

2:13:41 'xxxxx': close order #27654258 sell 15.00 EURUSDm at 1.5757 sl: 0.0000 tp: 1.5715 at price 1.5757
02:13:41 'xxxxx': request was accepted by server
02:13:42 'xxxxx': request in process
02:13:42 'xxxxx': order #27654258 sell 15.00 EURUSDm closing at 1.5757 failed [Off quotes]
Quoting aleksandr
Here is an example - this is from my journal from today. Do I have to restart my program after every open order?

2:13:41 'xxxxx': close order #27654258 sell 15.00 EURUSDm at 1.5757 sl: 0.0000 tp: 1.5715 at price 1.5757
02:13:41 'xxxxx': request was accepted by server
02:13:42 'xxxxx': request in process
02:13:42 'xxxxx': order #27654258 sell 15.00 EURUSDm closing at 1.5757 failed [Off quotes]
what was there excuse? i don't know if there playing tricks on you or not, last time.
If I Go Broke Trying Then I Will die happy.
Here is a piece of conversation with their support - no definite answer there....

"Client Services 60: I have asked about the Off Quotes message many times myself and have found that it does not always mean that it is due to the price moving from the price you request, but I can look into this further to see if we can figure what happened today.
you: Last week I had it happen, where I tried over 15 times before I was actually able to close it. That would be nice to get an answer to this. This just started happening for last couple of weeks. I know couple more traders that experience same problems with IBFX MT4 platforms
Client Services 60: I have looked at your trade that you have given me and have asked the operations department and my supervisor, and Off Quotes can mean that there is not liquidity at that price at that exact moment of time. However, I noticed that you logged out and then back in and was able to close the trade. In general, the logistics of Off Quotes is the trade can not be filled at that price at the moment of time and you do not need to close your platform or log out, you just need to make the request again until you exit or enter the market.
you: I tried it last week without any success for several times, then I had to close my platform and it finally worked. I was just trying to close my position at break even today.
Client Services 60: That would be the first issue I would be encountering that has you close the platform and reopen it to have Off Quotes go away. I have experienced Off Quotes myself and do not have to close the platform to have it go away, however, that is something I will make a note of and certainly if this were to persist it would be something that we could look into much deeper.
"
Happened again today.
this is just getting old
Quoting aleksandr
Happened again today.
this is just getting old
find another broker and stop complaining
If I Go Broke Trying Then I Will die happy.
Quoting Moe
find another broker and stop complaining
can't nobody here help you, what you want us to do
If I Go Broke Trying Then I Will die happy.
,
If I Go Broke Trying Then I Will die happy.
ive seen this a few times with other brokers. i think it has to do with their server getting overloaded with information. id recomend trying someone else as well because the whole off quotes thing can get really annoying... you never know when its going to happen.
I used IBFX for quite some time now and liked them so far. This issue is something that started recently. I will follow your advise Moe about other brokers, it is just I was looking for somebody who knows anything about this - maybe somebody found a solution to this, not for someone who just likes to chat
I pulled all my funds from IBFX today. Its a shame they were my favorite broker. They refuse to admit making any changes that would affect order execution. They blame market liquidity for the recent rash of "Off Quotes". I refuse to let them dictate when I open or close an order, so I will take my business elsewhere.
Quoting aleksandr
I used IBFX for quite some time now and liked them so far. This issue is something that started recently. I will follow your advise Moe about other brokers, it is just I was looking for somebody who knows anything about this - maybe somebody found a solution to this, not for someone who just likes to chat
hallo...i agree with u aleksandr...i also trade in IBFX,sometime to close trade always arrow note
example.."trade contact busy"...it might could be lost of pips...i lost lot of pips..coz that arrow...i think IBFX are going problem broker...
I was having the same issue with IBFX as you, then I started using MB Trading's MT4. Well it happens there too, lol. closing the platform does not work over there tho .
Dear Trader,

Trade forex with the leader in trade execution! Based on ratings from 8,750 investors, IBFX ranked first in 6 of 19 categories in the 2012 Investment Trends U.S. Forex Report including 18 other forex brokers. Brokers in the survey included FXCM, Forex.com, Oanda, GFT, FX Solutions, FXDD, E*Trade, MB Trading, Interactive Brokers, TD Ameritrade, CitiFX Pro, Alpari, Easy-Forex, Zecco-Forex and more.

Traders ranked IBFX:
#1 for execution speed
#1 for executing trades at price quoted
#1 in more categories than any other US fx broker

Experience award-winning execution by opening a live account, or you can get started by trying a free demo account. Also, view all our platform options to find the best fit for you.
We look forward to your business,

Team IBFX
Quoting PoundTrader
Dear Trader,

Trade forex with the leader in trade execution! Based on ratings from 8,750 investors, IBFX ranked first in 6 of 19 categories in the 2012 Investment Trends U.S. Forex Report including 18 other forex brokers. Brokers in the survey included FXCM, Forex.com, Oanda, GFT, FX Solutions, FXDD, E*Trade, MB Trading, Interactive Brokers, TD Ameritrade, CitiFX Pro, Alpari, Easy-Forex, Zecco-Forex and more.

Traders ranked IBFX:
#1 for execution speed
#1 for executing trades at price quoted
#1 in more categories than any other US fx broker

Experience...
So is this your new business PT??
Come with me if you want to live....
There's no such thing as an honest broker. Find one that plays a game that doesn't bother you much.

Been through FXDD, IBFX, FXCM, PFG best, FXSol
.

PFG Best is a good example of one that looked wonderful. He stole 200 million. Moral of the story. They are all crooks! Yes they got me!

FXsol isn't too bad if you don't scalp. Forget scalping with them. Hate their stupid SL rule. Still they are acceptable for now. Big spreads but they don't change.

I left IBFX because their system went down at peak trading times.....for a long time. They always had some lame excuse.

FXDD was a literal nightmare. Couldn't place orders. Closed orders that wouldn't close. (had 1 order go 2 minutes) Hugh spikes that didn't show up on other brokers.

I run 2 brokers at once so blaming my PC didn't hold water. 1 worked, 1 didn't. Was nice to spot the spikes also.

FXsol is not too bad...other then that...go ECN. I'm sure someone will post about FXsol. lol! And I will believe them. There is no such thing as an honest broker....period!
Quoting Ill-b-back
So is this your new business PT??
http://www.easyfreesmileys.com/smileys/lol-047.gif
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