iFOREX Review


iFOREX is a well-established broker since 1996. iFOREX has a headquarter in Cyprus. It is are generally well-suited for iFOREX to provide their Forex/CFD trading services to global clients.


This broker has also been regulated by CySEC 143/11. Simple yet detailed information upon this broker can be seen below.


Company Information

Website
www.vestle.com

Established
1996

Country
Cyprus

Regulation
CySEC 143/11

Features

Islamic accounts available

Account Information

This broker offers Standard. To successfully navigate your trading account, you also need to consider about leverage and minimum deposit. Talking about leverage in general, the maximum leverage offered by iFOREX is up to 1:30. Meanwhile, you can open an account with a starting capital of $100

If you want to look for further information about this broker's offered account(s), please take a look at the list below.


Minimum Deposit

$100

Maximum Leverage

1:30

Spread

Variable


Minimum Deposit $100

Minimum Position 0.01 lot

Spread Variable

Scalping

Expert Advisors

Pending orders

Instruments Traded

Besides lots of currency pair, iFOREX also offers some instruments you would like to trade on, such as Forex, CFD and Cryptocurrencies for your best choice. Somehow, remember that different instrument has different trading conditions. In this case, you have to make sure that your strategy is well suited for the instrument you chose.


Forex
1:30

CFD
1:30

Cryptocurrencies
1:2

Payment Methods

Bitcoin : As a payment method, Bitcoin is reliable for its low cost and quick process. Brokers have been integrating Bitcoin as one of their funding methods especially after the cryptocurrency's rise in popularity. Now, traders who have digital wallets can easily transfer their funds to and from their trading accounts.

PayPal : Online payment was not a thing back in the early 2000s, but PayPal has been in the market since 1999 and thus deserves to be regarded as one of the first e-payment services in the world. The US-based company is popular across many online platforms, including forex brokers.

Wire transfer : Wire Transfer is the most commonly used payment method. Nearly all brokers in the world provide this method on their service. The reason is wire transfer is basically traditional transfer between banks in the worldwide. So, this method is guaranteed for its safety. This really helps traders who avoid third-party payments or don't have credit cards.

iFOREX also provides payment with Credit/debit cards

Trading Platforms

Trading platform is a tool where you can buy or trade an instrument with only some clicks on your device, anytime and anywhere you want. In addition, price chart is also usually provided with some analytical tools to help you analyze the price movement, so you can increase your profitabiliy by placing well-planned trades.

Hereby, iFOREX offers you FXnet.

Customer Support

Do you have any question or find any trouble related to iFOREX? If you do, you should reach iFOREX's support to get the information that you need. Here is the detail of the broker's customer support:

Website Languages

Dutch
English
German
Greek

Office
Support

Email
Support

Call
Support

Chat
Support

Extensive Review

iFOREX was founded in 1996 by a group of bankers and forex traders. It claims to be one of the largest and most respected firms in the industry. The company is licensed by the BVI FSC, while the iFOREX Group's European subsidiary is an investment firm licensed and regulated by the CySEC.

The company tries to offer traders innovative and user-friendly platforms, constantly updated financial news, and 24-hour support. Clients of iFOREX are therefore able to trade whenever they choose, using the system they prefer while receiving instant professional support when needed.

iFOREX also says it has hedging capabilities not offered by all brokers with real-time margin protection, ensuring limits and automatically executing risk management precautions to prevent a negative account balance.

On another positive note, the company takes cybersecurity seriously, by enforcing firewalls and Secure Socket Layering (SSL) as encryption services to funnel sensitive information such as clients' personal data and passwords.

This broker advertises direct access to global markets, including 90 currency pairs, commodities, indices, shares, ETFs, and cryptocurrencies. iFOREX also offers a range of soft commodities for trading, including soybeans, wheat, corn, cocoa, coffee, and cotton. Product pricing and service offered are also quite transparent with enough information available on the company's website.

After choosing an instrument, traders can enter the deal size and click Buy or Sell in the trading platform. iFOREX tries to provide a comfortable environment for trading by presentling leverage up to 1:400. They also offer traders to practice with a demo account.

iFOREX provides clients with easy-to-use trading platforms customized to meet clients' experience and needs. Their platform accommodates trading functionalities with live and historical data about clients' account balance and open positions. Their platform is available on mobile and Web.

Unlike some brokers, iFOREX does not seem to offer trading with MT4 and MT5 platforms. With their web-based platforms, traders can access a variety of features directly from traders' computers, such as opening and closing deals, depositing and withdrawing funds and viewing account history without any downloading necessary. Based on the review of their clients, the web-based platform is ideal for traders who travel often and need full accessibility anytime and anywhere.

iForex also shows trading sentiment on their mobile app. This is a quick and easy way for a trader to see which way the market may be leaning. Traders will get a respectable mobile charting package. The information is displayed, and various technical studies can be easily added to help make trading decisions. The mobile app has advanced security measures such as fingerprint match identification to open the app for trading.

Furthermore, iFOREX has very few special features commonly found in other brokers. For example, there is no automated trading algorithms, or an ability to engage in social trading. Other services like VPS are also not offered.

If traders need a broker with satisfying customer support, iFOREX might be a good option. Online chat is available for both new and existing clients. All clients can receive customer support and technical assistance 24/7 globally, with offices located around the world and immediate service in clients' native language.

iFOREX scores very well in terms of educational products. Traders can easily find information for major trading products such as CFDs and forex. There is also information about analysis and several videos that beginners will find especially helpful.

Furthermore, They accept any method of payment, including VISA, Mastercard, Skrill, Wire Transfer, Neteller, and many more. iFOREX does not charge commissions.

Based on the review above, iFOREX has some unique features. Traders can choose a range of products besides forex. iFOREX also has good customer support available 24/7 globally. But, it is important to consider that they do not use platform MT4 and MT5 which is often found in other brokers.


Give Your Review and Rate This Broker



2 Reviews


Bobby Jean

Sep 6 2020

I am very happy with all the services, also the prepaid master card, the help in setting up different accounts etc. and not to forget the super fast chat service.

Yeheskiel Sitorus

Sep 3 2020

There are a number of functions that suit me from iFOREX and that I use every day.
1. Leverage up to 1:400 is quite a large leverage, but in my opinion it is quite safe, even if you make a mistake in the analysis.
2. Market Analyst - I can not say that I use all the information (in my opinion, it is simply impossible), but sometimes I can find some guidelines to make further decisions.