iforex Review

Min. Deposit: $100

 

ABOUT IFOREX

iForex was established in 1996, and it is also a subsidiary of the iForex group. Currently, this broker has over 8 million clients which are from over 100 countries. Remarkably, iForex executes over 35,000 transactions every day and it deploys advanced technology in its operation which is to the satisfaction of modern traders.

On the iForex online trading platform, over 940 assets are available and it contains many educational materials which can help novice traders understand online and forex trading better. Interestingly, this broker has over 24 years of experience in the world market. Thus, it has a rigid financial stance, and a business plan that is well planned out and executed.

IFOREX REGULATIONS

As much as the location of iForex group headquarters is not explicitly stated, it is run by Formula Investment House Ltd. This limited organization operates from the British Virgin Islands (BVI). Thus, the British Virgin Islands Financial Services Commission (BVIFSC) granted authorization to the company.

According to the regulations, the deposits of clients are separated from corporate funds and there is also a protection from negative balance. The iForex Group is in full compliance of all the regulatory stipulations and for the record, there hasn’t been any form of deviation since its inception.

Therefore, you need not worry as iForex has a topnotch security system. All deposited funds are safe. Traders will surely love the security system of this excellent trading platform.

WHAT CAN BE TRADED ON IFOREX?

All traders on this remarkable online trading platform have access to 943 tradable assets which are divided into six categories. It has a wide and excellent coverage which beats many online trading competitors and it has up to 83 currency pairs.

Moreover, it has 20 commodities and 18 cryptocurrency crosses, but only 7 different ones are in existence. These cryptocurrency crosses are also quoted against a number of fiat currencies. Thus, if you decide to trade on iForex, you will be able select from a wide range of assets to trade with. Given the numerous trading alternatives available, management firms and retail traders will surely benefit from the selection of assets.

PLATFORMS AND TOOLS

iForex operates a proprietary webtrader and the mobile version is also available. More so, this excellent broker offers traders limited information which is contained an introduction that is single-paged. The website page consists of an integrated economic calendar, advanced live charts, trading signals, indicators, and an interface which is customizable and user-friendly.  

However, the iForex online platform does not support automated and social trading and it is only appropriate for manual traders. So, if you are the type that prefers trading manually, the iForex trading platform is for you.

FEATURES

iForex provides clients with what is known as an International Fixed Interest Account. It only takes a minimum deposit of $1,000 and a maximum of $150,000 and it gives a yearly interest rate of 3.0%. To be eligible for this International Fixed Interest Account, you have to be involved in regular monthly activities which include things such as depositing and trading with new funds.

iForex offers regular trading signals on its trading platform and this helps traders in trading on the platform.

Moreover the iForex trading platform also has a direct access to global markets, indices, CFDs, Forex, and commodities. Not to mention, it has a wide range of worldwide resources that offer global liquidity with just the simple click of a mouse.

It also runs on advanced technology so as to ensure balance protection. iForex is quite a trading platform to be part of, given the numerous benefits offered to traders (both novice and experienced).

IFOREX EDUCATIONAL MATERIALS

iForex has an Education Center that contains many educative articles that border on many topics. Each of these articles is appropriately written with lots of examples and explanations. There are also videos available. The educational content is divided in a basic and advanced section. Moreover, there is a free PDF guide that is readily available immediately after registration.

There are even one-on-one training lessons, thus, increasing the educational value of this trading platform. iForex offers two promotion packages which are education-based. They are the iForex Education Package, and the iForex Pro Package. The first package includes free trading signals also.

The educational category of the broker is quite developed and informative. It is in fact, a must-read for novice traders. So, you don’t have to be an online trading or forex expert to be able to use this trading platform. You can learn a lot about forex on this platform, given the reach educational content it possesses.

BONUSES AND PROMOTION

Apart from the two educational promotions iForex offers, it runs a referral program. Referring traders may give you up to $200 if the referee deposits a sum that reaches $500. The bonus reaches the referrer after the account has undergone verification and it has been funded.

WITHDRAWALS AND DEPOSITS

iForex works with bank wires, e-wallets, and credit/debit cards. It also supports paying platforms such as CashU, Alipay, Neteller, PayPal, and Skrill. There are no internal costs except a $20 fee for bank wires. Also third-party charges are determined by the payment processor.

IFOREX’S CUSTOMER SERVICE

iForex operates a customer service that is reachable from Monday to Friday between the hours of 4:00 and 20:00 GMT. You can email them, call them, and reach them via live chat. Thus, whenever you experience any problem, you can reach them within the stated time intervals above.

ACCOUNT OPENING

To open an iForex account, you need your name, email, a and a valid phone number. These are the requirements to complete the first step of the registration. As a regulated broker, iForex must meet the requirements of AML/KYC as stated by BVIFSC. To complete the second registration step, you need a copy of the trader’s ID and a document of proof of residency (which is not older than three months).

Thus, it is quite easy to open an account on the iForex platform. iForex has made it quite easy to trade and its operations are quite simple to understand.   

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