iForex Review – Trusted Forex Broker since 1996
iForex is one of few Forex brokers who have impressed the Financial Markets with their services for decades. It is serving the Forex traders since 1996 and has won several awards for its platform features, transparency in trading services, and customer support.
iForex operates under Formula Investment House Ltd., which complies with the Virgin Islands’ Financial Services Commission. iForex serves global clients under this entity except for European clients.
It allows traders to invest in over 650 CFD products that include commodities, shares, currencies, indices, cryptos, and ETFs. Iforex has remained the industry leader since 2001 and has set several standards for the Forex brokers in the market. iFOREX created a trading platform for both web and mobile with an exclusive education package that has 1-on-1 training.
iForex has a separate subsidiary company – Vestle, which complies with CySEC and FCA to serve its European clients.
iForex Review – Account Types
There are two types of account iFOREX offers; one is a standard mini account that must be funded by a minimum deposit of $100, and the second is a VIP with the equivalent of $2,500 minimum transaction size and maximum leverage up to 30:1 allowed under ESMA.
There is no charge for opening positions with iFOREX though there is a spread between the sell and buy rates, which are usual in all dealing rooms and Forex trading platforms around the world.
Trading Features – iForex
iFOREX offers currencies, cryptos, ETFs, indices, gold, and oil merchandise. It also includes hundreds of tradable CFD products, including shares such as Facebook, Apple, and Xiaomi. CFDs from various markets and industries are offered, letting traders expand their portfolio and manage risks better. Investors can choose from several trading tools that one can allow them to place a Limit Order at a better cost and in turn, cancel other orders once completed. Investors may also prearrange a stop loss or take profit. Setting a pre-defined rate can be a possible gain or risk in opening or closing a position.
At iFOREX, setting a stop-loss rate is not required, and investors may as well open new positions from existing ones based on future profits. Traders consistently receive real-time account monitoring options, which enables them to see their opened positions, collateral and exposure values. This service benefits investors to control their portfolios and helps account management outstandingly. Free direct access to developed trading and market indicator charts are offered allowing multiple time frame analysis the ability to perform advanced technical analysis. These charts can help investors keep track of currency cost movement and analyze market trends. The latest movements and currency pair’s value history can be seen as well.
The Advanced Trading Signals option is provided by a third-party that sends traders to live updates on the latest market trends for shares, hottest currency pairs, commodities, cryptos, indices, and ETFs. Signals can be personalized base on trading needs and likings of each trader and are sent directly to mobile devices.
iForex doesn’t offer any bonus deposit as per regulatory requirements. Online trading sites are restricted to give promotions in adherence to ESMA guidelines. No promotions available at the moment since iFOREX is a fully regulated forex broker.
EDUCATION – Get Free with iForex
iFOREX gives importance to education and offers its clients plenty of helpful information to aid traders in administering their portfolio and making choices. Video courses contain common trading mistakes, moving averages, and others. Useful for traders, each learning guide is easy-to-read at every experience level.
The iFOREX e-books go along with these interactive courses with a full glossary of financial terms. Traders can learn at their speed through 1-on-1 training given. You can order free educational materials by merely filling out a form online. It has full instructions on how to use the iFOREX platform for beginners and advanced courses for experienced traders.
FUND DEPOSITS/ WITHDRAWALS
Numerous options for fund deposits are offered, including Bank Wire, Skrill, Credit and Debit Card, Western Union, and eWallets, while withdrawals are requested through an online withdrawal form. Fund deposit to the account with Credit/Debit card and eWallets is updated almost instantly. The fund withdrawal request is processed on the same day, and it may take 2 to 3 days to reach your bank account.
iFOREX customer support is available via email, phone, and chat 24/5 from 0400 to 2000 hrs GMT. This is a drawback while trading with iForex as compared to other leading Forex brokers, who offer 24/7 customer support.
A textual support ‘hub’ is also available for immediate help. It guides the trader about account opening, payment options, and necessary information about CFD and Forex trading. iForex customer support page lists the email address of all the departments; this helps the traders to reach the right person for their queries and support.
Trading Platforms – iForex
iForex offers the choice of user-friendly trading platforms through the web and a mobile trading platform. Using the system that they prefer, clients can trade anytime while receiving quick, professional help. Although the web-based platform is efficient and full of features, the traders don’t miss the industry-leading MT4 platform.
The web-based platform is developed to fit the needs of mobile traders. Perfect for those who travel. It lets traders obtain different options like opening and closing positions, withdrawing and depositing funds, and viewing account history without downloading directly from their computers.
Highly recommended for modern traders, the mobile platform gives options available on the web platform and lets traders access and place trades quickly and monitor their positions continuously anywhere. Other platform features also contain balance sheets, complete access to their wallet, equity, and margin details, and the layout can be personalized for easy usage. You can get the app free on Google Play for Android and the App Store for iOS for complete mobile trading experience.
CONCLUSION – iForex Review
iFOREX’s educational materials are broad and expanded to choose from different platforms for excellent trading experience. It is one of the few oldest Forex brokers serving in the industry. iForex has earned its name and reputation as a trusted Forex broker with its two decades of service excellence. The traders can expect to trade in a safe and transparent trading environment with iForex.