An Interview with InterbankFX

What is your name and position?

Marilyn McDonald, Marketing Director

What is your professional background?  

For the past two-and-a-half years, I have served as Interbank FX’s marketing director, where I am responsible for coordinating all events including user group meetings and trade show participation.  I am also the author of Forex Simplified, and have contributed more than 40 articles published in industry magazines.  Prior to Interbank FX, I was employed with Equis International, the graphics development arm of Reuters.

Who are your targeted audience? 

We work with Forex traders at all levels, from those who are already trading in this market to those who are just investigating.

Is your main focus of your business online or offline? 

Online.

Why should a trader choose Interbank FX over another broker? 

We believe that our long term success is closely tied to that of our customers.  With that in mind we have created a number of tools for traders include a terrific online University (www.ibfxu.com) where newer traders can come to find out more about this market.  We also offer an unlimited demo account and encourage people to use it as long as they need.  Once they decide to trade real money they can open a mini account for as low as $250 and trade micro lots which are essentially pennies out of their margin account.

What advice do you have for someone who is just starting to trade the forex market?

Practice, practice, practice.  The Forex market isn’t going anywhere. It will be around for a long time.  So, take the time to create your own trading style and learn to manage the risk.  Interbank FX offers free demo accounts to all traders, and we never pressure demo account holders to open live accounts.

How different is the forex market today from what it was 2 years ago? 

The retail portion of this market is the fastest growing sector.  In addition to complying with heightened regulations, Forex brokers are actively competing for customers.  This environment creates a better place for traders.  There are more choices and brokers offer more features than ever before.

Do you also offer Fund management services? 

No

Who are the main competitors of Interbank FX in the on-line Forex market? 

Forex.com, GFTForex, Oanda

What do you think about Forex scam problem in the on-line Forex brokers market? 

I think that the increase in regulation is decreasing the scams in the market, and I would encourage everyone to do their due diligence when looking at brokers and service providers in this industry.

Where do you see Interbank FX 2 years from now? 

Because of our customer centric business model and world class customer service, I envision Interbank FX evolving into the premier Forex broker of choice.  We currently have in excess of 23,000 active customer accounts in 135 countries around the globe, and we are constantly expanding.

Thank you very much for your time.