Interbank FX offers new customer incentives as NFA regulations change
Salt Lake City, January 15, 2009 — Off-exchange retail foreign currency (or Forex) broker Interbank FX (IBFX.com) is offering investors significant incentives for opening a new live account. These incentives come as some Forex brokers close their US operations in response to stiff changes in regulation by the National Futures Association (NFA).
Incentives for opening a new account with IBFX include a customer rewards program in which new customers can earn up to $2,500 dollars in rewards, depending on initial deposit levels and trading volume over a 90 day period, and up to $50 for transferring funds from another broker to IBFX and trading 15 standard round turns. Investors can also take advantage of the IBFX Platinum Rewards Credit Card, which not only gives card holders rewards points for purchases, but also the possibility to earn up to 50 rewards points for every standard lot round turn trade. .
"We believe that our long-term success is closely tied to the success of our customers," said Todd Crosland, CEO and President of IBFX. "That is why we constantly look for ways to improve our clients' trading experience."
Per the new NFA regulations, the minimum amount of net capital a forex broker must hold in order to operate in the United States has increased to $15 million and will be rising to $20 million in May. These changes have already caused several smaller forex brokers to close their doors and are posing threats to several others whose net capital is below the forthcoming changes in regulatory requirements. IBFX holds strong with an adjusted net capital of almost $43 million (data available from the FCM Financial Data as of Nov 30, 2008 from reports filed by Dec 31, 2008 - source www.cftc.gov).
"The regulatory changes will likely have many customers looking for other trading partners and IBFX is poised to help those traders who will be affected," said Crosland. "IBFX created these incentives to help ease the transition for displaced customers."
In addition to monetary incentives, IBFX customers will also receive competitive spreads (spreads are not fixed and may widen in volatile market conditions), free cutting-edge trading tools and a wealth of educational resources through IBFXU, the company's award winning online university.
IBFX's commitment to serving its customers has helped fuel the company's revenue growth of over 100 percent for five consecutive years. The company currently serves more than 30,000 clients from more than 140 countries around the world.
About Interbank FX
Headquartered in Salt Lake City, UT, Interbank FX, LLC (IBFX) is a leading provider of online Forex trading services, offering individual traders, money managers and institutional customers proprietary technology, tools and education to trade spot foreign currency online.
Unlike other off-exchange retail foreign currency brokers, IBFX has distinguished itself as an industry leader with its proprietary tools and services and remarkable focus on customer care. This has led to longer term relationships and to numerous awards and industry accolades, including Best Online FX Provider, Best Foreign Exchange Broker, Best Chairman, Ernst and Young Entrepreneur of the Year, and Inc 500.
IBFX serves more than 30,000 clients from more than 140 countries around the world and has supported a trading volume in excess of US$80 billion in a single month. The company is regulated as a member of the National Futures Association and is also registered with 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 in the financial markets and suitable for sophisticated individuals and institutions. The possibility exists that you could sustain a substantial loss of funds and therefore you should not invest money that you cannot afford to lose.