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nterbankFX transcript

General Info
Chat start time Dec 17, 2008 11:40:08 AM EST
Chat end time Dec 17, 2008 12:07:23 PM EST
Duration (actual chatting time) 00:27:14
Operator Client Services 10


Chat Transcript
info: Thank you for contacting us. The next available agent will be right with you. Our goal is quality service. You may tell us how we do today by clicking HERE.
info: You are now chatting with 'Client Services 10'
Client Services 10: Hello, this is Ana. How may I help you?
none: i wana know do u all ban profitable EA trading? the EA is a scalper
Client Services 10: Hi.
Client Services 10: What do you mean with ban?
none: means disallow
Client Services 10: The trading platform supports EA's
Client Services 10: You have to make sure that the EA is compatible with the MT4 trading platform
Client Services 10: We do not support the EA that you will install on your platform
Client Services 10: We can only explain you how to attach it to the platform
Client Services 10: Also we do not recommend any EA
none: coz i heard that if clients profit, then the brokers will lose big time
none: is that true?
Client Services 10: No, it is not
Client Services 10: If you are using an EA
Client Services 10: And you are doing profit using it
Client Services 10: We will respect the way and strategies that the client uses in their platforms.
none: then why brokers hate scalpers?
Client Services 10: In accordance with our no dealer intervention business model it is not the policy of IBFX to police the trading style and activities of our clients. However, as a general rule we recommend that clients remain in trades for a duration of at least 90 seconds.
none: why is that so?
none: why 90 secs?
Client Services 10: Lower that 90 seconds is scalping.
Client Services 10: More that 90 seconds is a normal trade
none: profitable scalping is bad for the broker?
none: the broker loses money on clients who scalp for less than 90 secs?
Client Services 10: The broker can allow you to do that, but the liquidity providers will tell us
Client Services 10: to close your account if you continue with the scalping strategy
none: why is that so?
Client Services 10: because the rules and pilicies
none: wat rules?
Client Services 10: We are regulated by the NFA
none: scalping is illegal?
Client Services 10: No, it is not, IBFX recommend that clients remain in trades for a duration of at least 90 seconds
none: recommend, its not a MUST rite/
none: ?
Client Services 10: Yes.
none: why must u all close accts of clients who scalp less tha 90 secs?
none: if thats not a must, then why the 90 secs rule?
Client Services 10: Again;
Client Services 10: In accordance with our no dealer intervention business model it is not the policy of IBFX to police the trading style and activities of our clients. However, as a general rule we recommend that clients remain in trades for a duration of at least 90 seconds.
none: u the difference
none: its a recommendation
none: not a RULE
Client Services 10: Yes.
none: then why accts must be closed if clients keep on scalping?
Client Services 10: Because we are regulated by the NFA and we are a broker of the liquidity prioviders.
Client Services 10: We do not monitoring your trading strategies
none: so ibfx clearly doesnt encourage scalping?
Client Services 10: In accordance with our no dealer intervention business model it is not the policy of IBFX to police the trading style and activities of our clients. However, as a general rule we recommend that clients remain in trades for a duration of at least 90 seconds.