MoneyForex Review

MoneyForex is an online Forex trading site based in the British Virgin Islands. MoneyForex was founded in 1984 by wall street professionals, and aims to provide a user-friendly approach to Forex trading.

MoneyForex Sections

Sections of the MoneyForex site are available to everyone without the need to create an account, and provide information about Forex to newcomers. This portion of the site contains information on the basics of foreign trading, fundamental and technical analyses of the Forex market, and answers to frequently asked questions about Forex and trading. 

Additionally, the site offers a glossary of terms important in online Forex trading, to educate new clients to make sound financial decisions. Finally, the site offers numerous links to Forex in the news so users can stay up-to-date on daily changes in the market.

MoneyForex Accounts

In order to enter the foreign trade market on MoneyForex, you need to create an account. For those hesitant to begin trading right away, MoneyForex also offers a demo account to allow to get a feel for online trading. Upon signing up for a demo account, you are provided a link to the trading software, and are able to trade virtual Forex shares in real time. MoneyForex also allows you to apply for online trading accounts via email or fax. 

There are three account options: a Standard Forex/CFDs account, which requires a minimum deposit of $2000 USD, a Mini Forex/CFDs account, which requires a minimum deposit of $250 USD, and a Platinum 100k account, which requires a $100,000 USD deposit.

Once your account is approved and funded, you can begin trading instantly. You are able to withdraw funds at any time, as long as you stay above the minimum balance. Should you require information or help trading, MoneyForex offers 24 hour customer service to assist you in your financial endeavours.