iForex Review

MIN. DEPOSIT $100
Up to 400:1
Up to $175 BONUS
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iForex
Up to $175
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Overview

Company Information Let us introduce you a member of the i-family, which has nothing to do with Apple. The brand name iForex is a trademark of iCFD Ltd. that is… more

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Details

BrokeriForex
Website URLhttp://www.iforex.com/
Founded1996
HeadquartersBritish Virgin Islands
Support Number+30-210-374-2599
Support Emailinfo@iforex.com
Support TypesPhone, Live Chat, E-mail
LanguagesEnglish, Indonesian, Malay, Czech, German, Spanish, French, Italian, Hungarian, Dutch, Polish, Portuguese, Romanian, Swedish, Greek, Russian, Arabic, Chinese, Japanese, Korean
Minimum 1st Deposit$100
Minimum Trade Amount$2,500
BonusUp to $175
PayoutUp to 400:1
Free Demo AccountYes
Regulated Yes
RegulationBritish Virgin Islands’ Financial Services Commission; Cyprus Securities and Exchange Commission (CySEC); National Bank of Hungary
Account TypesStandard, VIP
Deposit MethodsBank Wire, Credit Cards, Debit Cards, eWallets
Withdrawal MethodsBank Wire, Credit Cards, Debit Cards, eWallets
Types of AssetsForex, Commodities, Indices, Shares
Account CurrencyUSD, EUR
US Traders Allowed No
Mobile Trading Yes
Tablet Trading Yes

Full Review

Company Information

Let us introduce you a member of the i-family, which has nothing to do with Apple. The brand name iForex is a trademark of iCFD Ltd. that is part of the iFOREX group. The whole organization was founded in 1996 by trading professionals and bankers. The company is licensed and registered as CIF (Cypriot Investment Firm) under license number 143/11. It’s fully regulated by CySEC (Cypriot Securities and Exchange Commission). Although it’s one of the senior brokers, iForex achieved its real advance in the global financial stage in 2004. It was the year when the company rapidly expanded its base of operations and became a serious competitor to many other online providers. iForex manages to win the crowd with excellent trading conditions and second-to-none customer service. The broker constantly looks for new opportunities and is known to be a reliable partner to many reputable institutions. According to various statistics, iForex currently has tens of thousands active clients, and the audience is growing. It’s a positive sign that the broker is a reliable choice for both beginners and pros. As a globally recognized company, iForex has offices in different countries around the world. Unfortunately for US citizen, the broker forbids traders from the States.

 

Trading Information

Traders, who are looking for a broad range of products and financial instruments, will be happy to learn that iForex provides various opportunities. Registered users gain access to more than 60 Forex pairs with tight spreads and leverage up to 400:1. Commodities are also offer, and the list is quite extensive. The broker offers Gold, Silver, Platinum, Oil, Sugar, Corn, Coffee, Natural Gas and even Soybeans without commissions and leverage limited to 400:1. Over 20 indices are available for trading with leverage 200:1. Shares are also part of the offering with some of the most profitable companies included. However, one of the biggest disadvantages is the absence of demo account. Traders won’t be able to “test the waters” and they have to register a real account to try iForex as a broker.

 

Trading Platform

The company is one of the few in the branch, which doesn’t offer the famous MetaTrader 4. Alternatively, the traditional online broker provides access to three different trading platforms. The first one is a product of iForex, and it’s adapted to mobile trading only. They just call it Mobile Platform, and it has minimal design concentrated only on fast order execution and trading on the go. The software is usable on iOS and Android. FXnet Trader is the second trading platform offered by the broker, and it’s entirely suitable for expert traders. The software includes various advanced integrated charts, customizable views and many handy gadgets at the trader’s disposal. At last but not least is the web-based platform supported by iForex. It can be accessed from any browser without the need to download anything at all. The web trading software is completely secure and allows the usage of advanced Firewall. Also, the online brokers provide access to a few helpful tools, such as Charts, Economic Calendar, and Advanced Trading Signals.

 

Security and Customer Services

iForex is very focused on the high security and protection for its clients. The company uses segregated bank accounts with leading banking institutions. On top of this, the online broker employs negative balance protection and real-time margin monitoring to ensure that the client’s account never goes below zero. There are also various insurance policies applied to the services, as well as adequate risk management advice from their financial specialists. The website of iForex is also well secured with SSL encryption served by COMODO RSA.

 

When it comes to customer services, the broker can be labeled as satisfactory. There are four different contact channels where the customers can reach out for any assistance 24/5. The representatives of iForex answer on email, phone, live chat and fax. Clients can also request a callback or get in touch with the online broker via their social media presence, which includes YouTube, Facebook, Twitter, Pinterest, LinkedIn and Google+.

 

Deposits and Withdraws

As we’ve said above, the only way to start trading with iForex is through a real profile with a minimum deposit of $100. There are various payment methods that a customer can use to fund an account, and they are listed in the tables. Processing time can differ from the different transaction options.

 

As for withdrawals, they can be requested from the user’s account panel. Usually, there is a period of verification, when iForex checks the identity of the client through some required documents. After this initial check, all the subsequent withdrawals will be processed quickly. However, the waiting time might still extend to a few days depending on the payment method.

 

Deposit Bonus and Loyalty Program

The promotions offered by iForex do not include deposit bonuses. However, traders may enjoy an exciting loyalty program for extra funding of their accounts. The iForex VIP program includes unique rewards, access to premium trading tools and advanced education about the financial markets from experienced Forex mentors.

 

The broker also provides another VIP client package, which is ideally designed to help dedicated traders with their daily routine and increase their profits. The iForex Diamond package gives better spreads for the customer, as well as a personal account manager. in addition to these benefits, the bundle also includes premium signals via SMS and system notifications that will provide the trader with excellent trading opportunities.

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