IAMFX Broker Review

Anybody knows about this Broker, where the location, etc ... ?

What is meaning the Raw Spread ... ?

http://www.fapturbo.com/secretbrokerage.html

:-/

Re: IAMFX Broker ... ?

This broker seems pretty legit, out of newyork, however even with their low spreads ive done some backtesting and somehow no scalpers seem to make profit even when you start them when the spread is only 1, so, seems to be jsut another average broker to make long term trades with. and the spreads do raise to 3 or 4 during asian session.

Re: IAMFX Broker ... ?

I trade live this broker for a week with great results. The spread on Audnzd is around 5 pips - the lowest i ever seen, the spread on eurchf and eurgbp is around 2 pips even during asian session. i trade Robominer and fapturbo on it. The comission is pretty high however i get twice as much trades as on alpari and fxcm. so far so good.

Re: IAMFX Broker ... ?

So This Broker use a variabel Spreads ?

http://img519.imageshack.us/img519/5572/logozt.png

https://www.iamfx.com/

[ASK] I am Fx broker

hi,

anyone have experiences with IamFX broker?

please comment on this one..

thanks

Re: [ASK] I am Fx broker

don't use it, they use Boston Technology bridge, would eat ur money faster...

Re: [ASK] I am Fx broker

The broker name doesn't inspire any confidence and review from forexpeacearmy is not good either.

Anyone have experiance with IAMFX?

I'm thinking to open live account with IAMFX but maybe someone have any experience with this broker and can share with me. Thanks :)

On Demo my EA`s works great! Next month i will give Real a Chance. We will see.

Raw

I get twice as many trades with their demo than I do with their live account. But, I guess that is true with most other brokers also:-?.

On Demo my EA`s works great! Next month i will give Real a Chance. We will see.

 

Raw

i wanted to use them also, but heared their live account spread spikes a lot.

i have no real experience with them, but they do look good on paper

This guy seems to like them but he seems a little odd also..

http://forex-systems-reviews.com/brokers

Patheway

Nobody have experience with this Broker?

Raw

Sometimes my EA will get a small loss with them, when with other brokers on the same day will give a profit. But, only sometimes. So, maybe they are not ideal for scalping, but for longer term trades they may be OK. Also, as Hyper mentioned, their commissions are high. I reduced that a little by getting some cashback rebates before signing up with them. Also, their "free" VPS is not really free if you look closer. You need to do a minimum of 5 contracts a month for it to be truly free, otherwise there is an additional monthly fee. This is not true for other free VPS Brokers. GallantFX, for example, do not have a minimum to use their VPS, etc. :)

Nobody have experience with this Broker?

 

Raw

I used to trade with them and often experienced consistent slippage, and it really felt like they intentionally slipped my orders. i.e. they advertise one price but they actually fill you at a worse price. When I say "consistent", I mean the slippage was exactly the same for multiple orders that I submitted one after the other. I programmed my script to calculate the slippage and print it to the log file, so I know.

Also, in live chat, they stated that if there are large spikes in the price feed then they will not compensate.

I've left them and do not intend to trade through them again.

Well, I'm starting to lose my patience with them also. Their origins seem sketchy. They are basically a white label of Gallant FX. The advantage of going white label is that you can open your own brokerage on a "shoestring budget". You can have little experience in setting up and operating a brokerage, have very little liquid assets to cover most regulator requirements (thus they are not regulated because they probably would not qualify). JadeFx recently had a similar problem, where their reserve funds did not meet Industry requirements and standards, and so they had to release all their US customers, or risk prosecution from the US Government. So, it' sort of like having an "uninsured" bank account. It's smooth sailing until the boat hits its first wave or two, then all the dominos fall.

I only got involved with them because the Fapturbo people gave them such high marks. But, now it seems that maybe the Fapturbo people may be "silent partners" somehow. But, I have no proof of this, just rumors. But, it does make sense. Their AICash robot was supposed to be "designed" specifically for this brokerage, yet it seems to either lose money or just go sideways. It opens and closes sometimes 10 trades a day, with the wins and loses cancelling each other out. The big winners are the sponsors who get their commission on each trade. So, even though the robot goes sideways, the commissions from 50 trades a week, makes "someone" a nice pile of cash. I'm going to give them a few more weeks to prove me wrong, and then I will probably be closing my account also. :(

I used to trade with them and often experienced consistent slippage, and it really felt like they intentionally slipped my orders. i.e. they advertise one price but they actually fill you at a worse price. When I say "consistent", I mean the slippage was exactly the same for multiple orders that I submitted one after the other. I programmed my script to calculate the slippage and print it to the log file, so I know.

 

Also, in live chat, they stated that if there are large spikes in the price feed then they will not compensate.

 

I've left them and do not intend to trade through them again.

Though we are making a little profit with AiCashRobot with them, we are planning to close the account with them. Since I've managed to download the AICashRobot EAs from their VPS....heeee.

The main reason we decided to close is because they are unregulated and the slippage was high. We have the same trade on FXCM and IamFX, FXCM closed our trade exactly at our Target Profit. IamFX have the Target Profit triggered but closed our order at 10pips lower! Talked to online chat and they requested us to submit a support ticket. We submitted a support ticket and also email them about a week ago, till now still have not get any response!

We were not able to run back test through their platform, error encountered was Test Generator Error: No tick generated. After submitted the support ticket about two weeks ago with the specific details, they replied last week with a question "VPS or MT4 itself?". We have specifically stated in the support ticket that we tried on both, VPS and MT4 on our computer. Guess we will have to wait for another 2 weeks. Online chat also requested us to submit a support ticket.

Commission is high, 0.01%, that's about USD 10 per standard lot. For EURUSD, or any xxxUSD pair, it's equivalent to 1 pip. Adding the commission to the spread, say for EURUSD which varies between 0.6 to 1.3, will be 1.6 to 2.3! Rather go with other STP brokers like GoMarkets, or FXCM, or Alpari Classic account. (Alpari Micro account is trading through their Dealing Desks, Be Careful!)

In addition to the trade losses, as you stay with them, you learn that their "FREE" VPS is not free. As mentioned you need to trade 5 contracts a month, or 500 trades if you trade .01 contracts. If you trade only 499 micro contracts that month, you still pay the FULL $35! You get no credit for all the commissions they made from the 499 trades, as an example. Also, if your account falls below $400, you will also be charged the $35 VPS fee. They GET you either way.:berbusa:

When you trade directly with GallantFX, (their technology provider) there are no such nonsense VPS fees. Free VPS with GallantFX is really free. (However, I do not necessarily recommend GallantFX for scalping, because their spreads can be a little high).

Though we are making a little profit with AiCashRobot with them, we are planning to close the account with them. Since I've managed to download the AICashRobot EAs from their VPS....heeee.

 

The main reason we decided to close is because they are unregulated and the slippage was high. We have the same trade on FXCM and IamFX, FXCM closed our trade exactly at our Target Profit. IamFX have the Target Profit triggered but closed our order at 10pips lower! Talked to online chat and they requested us to submit a support ticket. We submitted a support ticket and also email them about a week ago, till now still have not get any response!

 

We were not able to run back test through their platform, error encountered was Test Generator Error: No tick generated. After submitted the support ticket about two weeks ago with the specific details, they replied last week with a question "VPS or MT4 itself?". We have specifically stated in the support ticket that we tried on both, VPS and MT4 on our computer. Guess we will have to wait for another 2 weeks. Online chat also requested us to submit a support ticket.

 

Commission is high, 0.01%, that's about USD 10 per standard lot. For EURUSD, or any xxxUSD pair, it's equivalent to 1 pip. Adding the commission to the spread, say for EURUSD which varies between 0.6 to 1.3, will be 1.6 to 2.3! Rather go with other STP brokers like GoMarkets, or FXCM, or Alpari Classic account. (Alpari Micro account is trading through their Dealing Desks, Be Careful!)

Just an update yesterday I asked my friend to visit IAMFX office mentioned on website.

https://www.iamfx.com/contact.php

IamFX Inc.

280 Madison Avenue

Suite 912

New York, NY 10016

Surprise : There is not company by the name of IAMFX in that building .He visted them on Thursday @ 4:30pm. First the guard told clearly that there is no company by the name of IAMFX. So my friend opened his iphone showed the address printed on their website. Than guard allowed him to go upstairs and found room locked and that room mentioned NY time (I donot know what is this)

BEWARE

Yes. Most probably it is just a post office box. When making payments to IAMFX, you are really sending money to Morningview Group Inc. This is the parent company of GallantFX. I would not expect IAMFX to have their own servers, since the servers are probably located where GallantFx keeps their servers. If your friend wants to visit IAMFX, he would have better luck just visiting Morningview. Morningview is located at 1133 Broadway, Suite 706 New York, New York, 10010. We now live in a world of virtual reality. Virtual cities, games, gambling, and even brokers. As far as I am concerned IAMFX is just an "answering service" that happens to have access to your account using one of their laptops to access the main servers. This is the nature of "white label" brokers. They exist only on paper. They are not necessarily criminals, just over priced for what they provide, and poor execution of some trades. And you can probably do better by not going through a "third party" when accessing someone else's liquidity provider. ;))

Just an update yesterday I asked my friend to visit IAMFX office mentioned on website.

 

https://www.iamfx.com/contact.php

 

IamFX Inc.

 

280 Madison Avenue

Suite 912

New York, NY 10016

 

 

Surprise : There is not company by the name of IAMFX in that building .He visted them on Thursday @ 4:30pm. First the guard told clearly that there is no company by the name of IAMFX. So my friend opened his iphone showed the address printed on their website. Than guard allowed him to go upstairs and found room locked and that room mentioned NY time (I donot know what is this)

 

BEWARE

At mtspread they are the first on the columns.

Today I see the charts from IamFX broker and FBS broker, interestingly, they show different candles at the same time, one show bull candle, one show bear candle. These situation not happen once, but can see in many places and different timeframes charts. Not know which broker are correct. anyone know is IamFX live chart are reliable or not?

Just want to know Which brokers offer better and accurate live charts?thanks.