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IamFX
 

Updated: March 2010

Min. Deposit: $500

Founded: 2009

Platforms: MT4

Regulation: SEC, US based. non-NFA member

Customer Support: good support (tickets, live support)

The Good: First innovative broker with raw spread STP environment

The Bad: Nothing bad so far. My broker of choice

 
 

I really like this one. Iamfx.com is very new however just in a few months it became a headline of the first innovative broker that "works for you", not against you like the majority of dealing desk market makers. Iamfx.com does not try to cheat you by skyrocket spreads during the asian session, sending spikes and offquotes when you try to exit the trade in profit (common broker trick).

Iamfx business model is comprehensive and fair - they give your raw (means real low interbank spread without adding additional 2-3 pips to the spread like other brokers) and charge you 1 pip commission (which used to be 2.4 pips in the past but they made right decision to lower it). This means that your scalping EAs will have a greater chance of covering the spread and reaching the TP target faster.

Here is what i found on 4xproject forum, this is a comment of one of the users which I fully agree with:

Overall I give IAMfx a triple AAA rating. I watch their MT4 and it picks up trades faster than other broker demo's I have running simultaneously. They lowered their commission awhile back too. It seems like they want to lead the charge and become the innovative broker and you can't beat the spreads. I saw a spread of 4 one day on the AUD/NZD pair one day. Tadawul has as high as 25. big difference. means more money in your pocket.

Iamfx does not make huge promotional campaigns spamming all the forums and blogs, they are growing by providing good service and I believe that "word of a mouth" is the best way for promotion for the "right company".

Iamfx is good if you trade robots like fapturbo, megadroid, robominer. forexbling, shocker, cyclone etc which require low spreads to be profitable

The only disadvantage is - they have no micro accounts however I heard they plan to introduce micro accs soon with 500 usd minimum deposit.

One more note - their currency pairs has prefix "ifx" that means if you want to backtest any robot - you need to manually download history data somewhere and then place it to "History" folder in Iamfx folder and manually rename the files. for example EURCHF5.hst will become EURCHFifx5.hst

Update November 2009 - today IAMFX added micro accounts. They also will soon offer more funding options like PayPal and credit cards.

Update January 2010 - I have prepared my video review for Iamfx. It is currently my broker of choice and here is why:

Update March 2010 - Iamfx offers some deposit bonuses this month. The broker is still performing great, top choice. Just look at these low spreads from MT4spreads.com: