SOURCE: Interbank FX

Interbank FX

July 08, 2010 10:00 ET

Interbank FX Introduces Core: Enhanced Technology to Improve Trade Execution for Traders

3.5 Million Dollar Investment in Upgraded Data Center Technology Is Brought Into Fruition After Years of Development

SALT LAKE CITY, UT--(Marketwire - July 8, 2010) - Interbank FX, one of the industry's leading global providers of online off-exchange retail foreign currency (Forex trading), announced today the release of Core, proprietary Interbank FX technology which will improve the ability for customers to execute trades -- particularly in fast moving markets. Accompanying Core, Interbank FX has also made significant enhancements to their various datacenters across the world to improve server availability, further improving customers' trades.

"We've invested over 3.5 million dollars in our technology infrastructure to deliver Core to our traders, which is another testament of our commitment to putting our customers' needs first," said Todd Crosland, chairman and president of Interbank FX. "A large part of our company philosophy is focused on providing our customers the best possible trading solutions. It is our mission to equip traders with the most advanced technology solutions, allowing their trading experience to be as streamlined as possible. This is precisely what we're facilitating with Core."

Since Core has been implemented, Interbank FX has placed a significant emphasis on monitoring metrics to improve customers' high lot execution. With the implementation of Core, we have seen the following improvements in our rejection rates:

  • May 2010 - 6.88%
  • June 2010 - 4.14%
  • July 2010 - 2.87%

See Interbank FX's performance page for additional statistics.

With Core in place, Interbank FX has changed how orders are carried out within the MetaTrader 4 platform, moving from instant orders to market orders. Using market orders, executing trades will be improved by reducing rejection rates, latency and furthering customer experience.

What's more, Interbank FX's award-winning single click FX platform will also be enhanced with Precision Pricing. An extra decimal place provides clients with unprecedented flexibility on pricing precision and execution.

"A market order essentially means to buy at market, whatever it may be at a given time period," said Crosland. "With Core technology, when customers click 'buy,' our MetaTrader 4 platform sends this request to the server. Because no price is specified, there is little reason to reject the order which in turn benefits our traders. We also believe our improved precision pricing will give customers better pricing throughout the day."

Interbank FX continues to offer retail spreads as low as one pip, obtaining competitive bids for order flow by means of our multi-bank liquidity feed and our seven world money center banking partners. This allows customers to achieve optimal pricing and execution as well as faster processing times, delivering a trading platform where Interbank FX's interests are squarely aligned with those of its customers.

For Interbank FX demo users, instant orders will be switched to market orders beginning July 10, 12 a.m. ET. Customers trading on Interbank FX live accounts will be switched to market orders beginning July 17, 12 a.m. ET.

For more information about Interbank FX, please visit www.ibfx.com.

About Interbank FX LLC
Headquartered in Salt Lake City, UT, USA, Interbank FX LLC is a provider of online FX trading services, offering individual traders, money managers and institutional customers proprietary technology, tools and education to trade spot foreign currency online. Interbank FX LLC has distinguished itself among industry leaders with its unique multi bank liquidity feed, proprietary tools and services, and remarkable focus on customer care.

Serving more than 35,000 clients from more than 140 countries around the world with retail Forex and private label/white label Forex solutions. White label offerings include MetaTrader 4, MT4 bridge solution or a fixed API solution. Interbank FX LLC is regulated as a member of the National Futures Association and the Commodity Futures Trading Commission as a Futures Commission Merchant.

Trading in the off-exchange retail foreign currency market is one of the riskiest forms of investment available. Full risk disclaimer can be found here.

Contact Information

  • PR Contact:
    Abigail DeGraff
    Interbank FX Public Relations
    801.930.6833
    Email Contact