iForex Overview
Website: www.iforex.com
Telephone: +30-210-374-2599
Regulation: CySEC, BVIFSC, NB of Hungary
Pairs offered: 90+ including USD/JPY, EUR/USD, USD/CHF, GBP/USD
Minimum Deposit: $100
Spreads From: 3 PIPs
Max Leverage: 400:1
Markets: Forex, Indices, Commodities, CFDs, Shares
Deposit Options

iForex Broker Review

iForex offers an Internet-based multilingual trading platform, catering to tens of thousands of traders globally. Offering a state-of-the-art, user-friendly platform for mobile, PC and web-based trading, iForex traders enjoy real-time market prices, tight spreads and margins.

Overview/Background

iForex came into being in 1996 when Forex dealers and bankers got together to form one of the most reputable firms in the world. At its heart, iForex offers an Internet-based multilingual trading platform that caters to tens of thousands of traders globally. The company is not involved in the daily management of investment portfolios, investment advice or foreign exchange – rather it facilitates trade in currency pairs, allowing clients to manage their own financial portfolios.

 

The company offers a wide range of trading services with a state-of-the-art, user-friendly platform for mobile, PC and web-based trading. Traders can take heart from the fact that real-time market prices, tight spreads and margins allow for maximization of trading at all times. The company is part and parcel of the iForex Group which is a European Union licensed entity. Secure Socket Layer technology (SSL) allows for watertight transactions every time you login and trade online.

 

Account Types

There are several different types of accounts at iForex. These include a Standard Account, a Protected Account, a Premium Account and an Islamic account. There are several interesting options available to traders at iForex, including a protected account. This offers 14 days of trial trading – very similar to a demo account – but a $100 deposit is required before this feature can be accessed. There is full indemnification of losses beyond the $100 that has been traded, and all profits earned during the period can be kept.

 

Trading Platform/Software

Traders have access to 3 unique types of trading platforms at iForex. These include the mobile platform, the web-based trading platform and FXNet Trading Platform. The trading platform runs off Windows and traders will need to download the software and install it on to their PC. Among others, the trading platform offers one-click functionality, all features on a single screen, full customization of trades and advanced charting features too. FXNet is suited to professional traders, with Microsoft.net technology.

 

The web-based platform is ideally suited to those traders who want to trade without a download. The web-based trading platform runs directly off your browser – any browser – without having to download and install any software. The web-based trading platform offers 90+ tradable instruments, with 128-bit secure SSL technology, firewall access management and no download or installation required.

 

The other trading platform is the mobile trading platform which is compatible with Android and iOS smartphones and tablets. The mobile trading platform features 90+ currency pairs, commodities, stocks and indices, instant monitoring of positions, swipe to close executions and full customization. With all these trading platforms, traders have access to advanced trading signals, and economic calendar, charts and market reports. It should be pointed out that iForex does not offer the MT4 trading platform – the most popular Forex trading platform in the world.

 

Deposit Options

iForex accepts the following payment methods: Visa, MasterCard, Skrill, Diners Club, PostePay, WebMoney, American Express, Visa Electron and wire transfer.  All of these payments processing options are guaranteed secure, courtesy of advanced encryption protocols, firewalls and SSL technology. As such, traders can enjoy hassle-free deposits and complete peace of mind. The site is COMODO SECURE and VeriSign Secured. 

 

Markets

iForex offers trading in multiple financial instruments including currencies, commodities, indices, and shares. The range of currencies includes EUR/USD, USD/JPY, GBP/USD, AUD/USD, EUR/JPY, GBP/JPY, NZD/USD, USD/CHF, and USD/CAD. The list of available commodities includes oil, gold, silver, coffee, platinum, natural gas, soybeans, sugar and corn.

 

Indices in the form of CFDs include the Dow Jones, NASDAQ 100, DAX 30, Nikkei 225, FTSE/MID 40, Nikkei 225, FTSE 100, CAC-40, S&P 500, AEX 25, EURO STOXX50 and the WIG 20. Indices can be traded with up to 200:1 leverage. With shares, traders can trade Amazon, Coca-Cola, McDonalds, Facebook, Cisco, Apple, Google, IBM, Intel, Microsoft, Twitter, and Pfizer. Shares can be traded with leverage as much as 20:1.

 

Bonuses

The bonuses are listed under the promotions tab of iForex.com. They include iForex VIP, Free 1-on-1 Personal Training, Mobile Trading and an Education Package. The bonuses on offer will only be paid out once the conditions have been satisfied. Traders stand to enjoy a welcome bonus package of up to $5,000 upon registering and depositing at iForex. The company offers up to $175 profit from inviting your friends to register, deposit and trade at iForex.

 

Customer Support

iForex offers 24/5 live customer support to traders. The support options include live chat way you will simply need to enter your name, e-mail address and telephone number, e-mail and telephone. The customer support telephone number is +36-1-8808-400. The technical support number is +36-1-8808-422. Support representatives are professional and courteous at all times, much like what you would expect from one of the pioneers in the online trading arena. Traders can easily access more information about the trading platforms, the company, legal information and the educational elements online.

 

Safety

iForex, and the services it offers, are fully regulated by various authorities. In Hungary, iForex falls under the HFSA (Licence # III/73.059/2000). In terms of privacy and security of personal information, iForex Brokerage Ltd falls under the jurisdiction of the Protection of Personal Data & Disclosure of Data of Public Interest. Further, the site offers SSL encryption with 128-bit secure socket layer technology, firewalls and payments security. The site offers negative balance protection and a guaranteed stop-loss.

 

Ease of Use

iForex.com has been around since the mid-1990s. It has continually evolved to become the leading Forex trading platform in the world. Each of the categories listed on site is minimally populated with content – allowing for ease of trading and understanding. Setting up an account is a snap – simply register, validate, deposit and trade. With 3 types of trading platforms on offer, it’s a breeze trading off your web-browser, downloading and installing, or going mobile. The absence of MT4 is notable and probably a missed opportunity.

 

Final Thoughts

As mentioned above, iForex offers top-tier trading across a wide range of financial instruments. These include shares, Forex, indices and commodities. Along with CFDs (Contracts for Difference) traders can enjoy high leverage, small pips, and multiple tradable assets. The site offers a window into the bustling world of Forex trading and it facilitates the establishment of your own financial portfolio online. The educational components are worth their weight in gold and cover 1 on 1 trading, an FAQ, How to Open a Deal, 3 Ways to Start and an Education Center. The latter component covers interactive tutorials, lingo, webinars and videos, A-Z of Forex trading and more. It’s fully comprehensive and didactic.

Pros
  • Tight spreads
  • 400 to 1 leverage
  • Multiple tradable assets
  • 3 Trading Platforms (Web, Mobile and PC)
Cons
  • No MT4 platform
  • No Demo trading account
  • Listing of Deposit & Withdrawal options not evident
iForex Overview
Website: www.iforex.com
Telephone: +30-210-374-2599
Regulation: CySEC, BVIFSC, NB of Hungary
Pairs offered: 90+ including USD/JPY, EUR/USD, USD/CHF, GBP/USD
Minimum Deposit: $100
Spreads From: 3 PIPs
Max Leverage: 400:1
Markets: Forex, Indices, Commodities, CFDs, Shares
Deposit Options
Pros
  • Tight spreads
  • 400 to 1 leverage
  • Multiple tradable assets
  • 3 Trading Platforms (Web, Mobile and PC)
Cons
  • No MT4 platform
  • No Demo trading account
  • Listing of Deposit & Withdrawal options not evident