iFOREX

Trading platform

iForex provides their traders with only one type of trading platform. This is somewhat unfortunate as traders don’t have a choice, but the platform they offer is highly sophisticated and more than sufficient for the average traders needs. The platform offered by iForex is a proprietary web-based trading platform. The platform is accessible from numerous web browsers including mobile browsers for trading on the go. The iForex platform is very well designed and easy to use and understand, while at the same time offering highly advanced tools and features. The platform comes with a complete charting package with an array of technical indicators, drawing tools, chart types, and time frames. Traders can also receive trading signal alerts and view the latest market news directly from the platform. See below some key features of the iForex web-based platform.

Over 200 tradeable instruments
One-click trading solutions
Customized view
Full screen charting function
No download or installation required
Firewall access management
128-bit secure SSL environment

Markets

iForex offers traders access to the Forex, Shares, Indices, Commodities, and Cryptocurrency markets. Among these markets clients can trade over 80 currency pairs, 400+ shares and ETFs, 27 stock indices, 19 commodity CFDs, and 4 cryptocurrencies including Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), and Ripple (XRP). Traders can trade CFDs on currencies and precious metals as well as binary options on many of the products mentioned here but are subject to regulations in certain jurisdictions.

Fees and commission

iForex does not charge traders any commissions or account fees but rather incorporates the trading fees into the spread. The spreads offered by iForex are typically higher than the industry average, especially for the trading of cryptocurrencies. Overall, iForex is not very transparent with their fee structure and provide very little details as to what the spreads are. Based on iForex user experiences, the spreads are rather high, and traders would rather have the option to pay commissions with lower spreads. Many brokerages offer various account types with different fee structures, but unfortunately iForex does not.

Security and fairness

iForex has an excellent reputation for being a safe, secure, and fair online trading brokerage. The broker works diligently to provide their clients with the highest level of security and take various steps to do this, see them below.

Negative Balance Protection
This policy guarantees that client’s accounts can never go into the negatives where they lose more than their initial investment. Even in times of extremely high volatility.

Segregated Bank Accounts
All client funds are held securely in trusted international bank accounts for enhanced protection of funds. If the iForex broker becomes insolvent, they do not have access to the client’s funds.

Risk Management
iForex has a professional team of financial experts that ensure that their clients are not left overly exposed to monetary disruption.

Real Time Margin Protection
iForex uses advanced technology to provide automatic precautionary measures on their margin limits so that clients are not overexposed.

Support

Customer support is available via a variety of methods including email, live chat, telephone and through their social media channels including Facebook, Twitter, LinkedIn, and YouTube. Support representatives are available 24 hours a day, 5 days a week, but are somewhat slow to respond. Additional methods of support include a very extensive FAQ page and a comprehensive support center where traders have access to numerous resources. Also, trader can gain useful information from iForex’s education center. Here traders can receive one on one personal training, view interactive tutorials, gain access to trading resources, eBooks, and a trading glossary. iForex has tons of additional resources for their traders to use.

Conclusion

The iForex online trading brokerage is a well-established broker with a great reputation. They provide an excellent trading platform and a wide variety of tradeable assets. The brokerage is highly secure and regulated and offers traders a good level of customer support and additional resources. Some downsides to iForex are the relatively high trading fees, lack of trading platforms to choose from, and relatively slow customer support. Other than that, the iForex online trading brokerage is a good broker to trade with.

iForex Q&A

The following are the common questions that customers inquired about iForex.

Is iForex regulated?
Yes, it is regulated by the Cyprus Securities and Exchange Commission (CySEC).

Is iForex a scam?
No, iForex is a legit broker with a great reputation.

Where is iForex based?
iForex is located at the Corner of Agiou Andreou & Venizelou Streets, Vashiotis Agiou Andreou Building, Second Floor, P.O.B 54216, Limassol, Cyprus.

Screenshot