Although iFOREX was founded in 1996, it was only in 2004 that it took the major leap into online trading when it launched its multi-lingual internet-based trading platform. Developed by a group of bankers and Forex dealers, iForex has managed to grow by leaps and bounds and is now one of the largest and most respected firms in the industry. iForex is regulated by PSZAF and CYSEC.
Minimum Deposit: $100
Languages: English, Dutch and 15 other languages
iForex offers a choice of three trading platforms for traders.
The FXnet Platform is the backbone of the iForex trading platforms. It must be downloaded and installed. The FXnet platform is ideal for professional traders and includes One-click deal opening, a full Single Screen Function, Advanced integrated charts and more.
The Web Based Trading Platform is designed for traders who want accessibility without the hassle of installing an application on their computers. The main benefit of this platform is that traders can access trading application with any standard browser.
The web based platform allows traders to access a variety of features directly from his or hers computer such as opening and closing positions, depositing and withdrawing funds and viewing account history without any downloading. This platform is ideal for traders who travel and need full accessibility anytime anywhere. There are over 30 tradable currencies to choose from with this platform.
The mobile trading platform is designed to allow traders to trade with their mobile devices or Smartphones. Traders can view accurate market rates and select several robust trading options. The mobile trading platform offers innovative execution gestures such as the new Swipe-to-Close and a customizable layout for easy usage. Traders can access over 80 currency pairs, indices and commodities and can monitor their wallet, balance sheets, as well as their equity and margin details at any time.
There are 4 types of trading accounts at iForex:
iForex provides traders with special education guides with the relevant information to start trading Forex or CFD’s that are easy-to-read for traders at every experience level. In addition, there is a series of interactive tutorials, both basic and advanced.
Their daily market report and economic analysis as well as a daily calendar of major economic events are easily accessible. I would have liked to find a bit more information about the different accounts and clearly missing was anything about a demo account, although the topic appears on the ‘Knowledge Base’ section which surprisingly appeared when I clicked on the email tab for customer service.
iForex offers the opportunity for making money by bringing in other friends. For every account opened and a trade placed, iForex gives a minimum bonus of $35 and up to $175.There was no mention of any additional bonuses. And although the firm’s security and safety are bulleted on each page, I could not find any additional information about the listed Guaranteed Stop-Loss and Negative Balance Protection Program.
Support is provided 24/5 via Chat, email and telephone.
All in all, I found iForex easy to navigate and user friendly. Some of the important content could be placed more strategically but it seems to be all there if you look for it.
This site is not clear and I wonder why. I think iForex is trying to tell us about all sorts of scams that are out there these days, but I don't think they really can help me. Scams are all over the place and its good that there are companies like iForex that let the people know what is happening.alawargames June, 2013
I know this site was supposed to keep me from being tricked out of my money but the iforex scams mentioned can’t be real. They are too far-fetched for me to believe. I don’t trust this broker.Sorry.Musleh_3 June, 2013
You must be kidding. Those iforex scams are for real. Believe me. I know. My sister was taken in big time. She gave the guy lots of money and he closed up shop and ran away. You can lose all your money if you fall for a Iforex scam so be careful.ElenaAleksandrov May, 2013
There’s something strange about the iforex scams mentioned in this review. I don’t whether it’s the reviewer or the company. Aside from this, I’m pretty happy with the company. My trades are executed on time and I’ve even managed to make some money. So forget about the iforex scams and just look at the profits.MarcusSanders May, 2013
I'm not sure what broker offers Hindi, but MetaTrader 4 offers nearly 30 languages, so you might be ok with that. iForex is definitely not worthwhile, but AvaFX offers MT4 accounts and only a $100 minimum deposit, so you can try there - they're also a very honest Forex broker. Good luck!IngridA March, 2012
Hi i want to be a forex trader can anyone tell me which trader is best and how much i have to open an account and please tell me the site which provide trading in hindi please helpppppsahilmehra March, 2012
Please help me for withdraw the money iforex is asking for the photocopy of credit card with cvv code also .Is it safe to give them .Beacuse they can use it to withdraw my money.Prabhat Kumar September, 2011
iforex is only worlds worst company...there account manager's r just designed to suck the money of peopleMY PERSONEL EXPERIANCE MY ACCOUNT MANNAGER WAS ESHKOL ABRAHIM.HE SUCK MY 20000$ IN FEW MONTHS.HE WAS CHARGED ME 20% OF MY PROFITE WHICH I HAVE GIVE TO HIM .....AND STILL THIS HAPPEN TO MEIF U WANT TO MAKE IT SURE CALL ME ON MY NOGuparvesh singh May, 2011
Plz don't open account with Iforex, the main cons is Iforex is not a Regulated by any regulatory body. U know without regulation u cant believe any broker specially in currency market. This is my own 2 year experience in forex trading.KAMAL March, 2011
I am new to iforex. Is there any live training or chatting to learn how to trade. How many times i can trade in a week?Sharan December, 2010
What is iFOREX like profile, working etc. ???Ram Kishore November, 2010
how do you withdraw money? does it get credited to your bank a/c directly?raja November, 2010
Hi All. Iforex is one of the best, legal and trustworthy broker. its very easy for new traders to learn and earn with it's easy to use web based trading platform. good luck to all traders with iforexdeep October, 2010
What is iFOREX? Let me know in detail.anees October, 2010
Is forex trading allowed as per RBI foreign currency policy ? what is the limit for investment? is trading also allowed? can someone point out the relevant rule which says so ?Mani October, 2010
YeahMilind August, 2010
I am new for trading, Please help me regarding should I start with iForex or not? is it a good one or fraud?Firoz July, 2010
Want to start trading with iforex but the $100 initial payment thru netsafe is safe or not. Pls suggest.ranjan June, 2010
I have been trading with iforex for more than 6 months , but web based platform is not suitable for trading , bcoz if u get more profit it will hang , if u get more loss also it will hang , u cannot close deal or open deal , it is very very poor , dot go for web based trading platform and lose ur money , i have lost 1500 dollar, i know trading but due to platform hanging problem i lost.mohanraj May, 2010
Sudhahar, from what we know, they are a legitimate broker with a very rich past in Forex trading. As usual, it is recommended to test out the platform with a demo account before trading real money.Hillel May, 2010
I read iforex is kind of scam.Is it true?sudhahar May, 2010
Thanks Dilip, we have written many articles about Forex risk, you can see one such example here http://www.dailyforex.com/articles/2010/04/_4505_dailyforex-news_Managing_Forex_Risks.aspxHillel May, 2010
As per my experience, forex trading is very dangerous with minimum balance like $100. Better trading with minimum balance $500.Dilip G.V. May, 2010
Hi John. I have been trading with Iforex for 2 years with no negative experience.As for withdrawing funds,if e.g. you deposted $500 via credit card, you can have that $500 deposited back into your card, all the rest will be transfered into your bank account that you supply them with upon registration.George April, 2010
I have been trading with iforex for 3 week since i am new to it i did not have any one to help me and by the end of 3 rd week i got 192 $ profit and it is a trusted one and it is approved by reserve bank of india if u need any help contact me i will help all people my mobile no is 9994488161Subavel March, 2010
Hi, Can anybody tell me how genuine is this trading? And also Hi tenzin, pls help me to understand 1. Is it allowed by RBI of india. 2. How do you withdraw money from your account. Example ; When you want to invest... you use your credit card... and incase of withdrawal --how do u withdraw.pls help me on to this...johnmilton March, 2010
Hi, i am very happy with iforex trading and i confirmed with my CA and he told me that iforex trading is legal in indiaTenzin December, 2009
iForex is a great platform! I invested 2000 usd and just made 4000 usd profits!! I received my cash! Going back in now!! Thanks iforex!Aziz U September, 2009
I will disagree with Mr Talal because I have been dealing with iFOREX since last 10 months. I have only deposited 1000 USD and have withdrawn till date 11250USD and my current equity is 2500USD. I never had a problem in withdrawing funds. I think you need to know how to trade instead of blaming a company.forex Guru September, 2009
iforex has not been fair with me. I invested $400 and i have yet to see any profit. all they ask me to do is invest more and more and I want to withdraw and they will not let me.Matt September, 2009
Hi, Can anybody tell me how genuine is this trading? Also does this trading has approval from RBI?Pralahad Naik August, 2009
Hi tenzin, pls help me to understand 1. Is it allowed by RBI of india. 2. How do you withdraw money from your account. Example ; When you want to invest... you use your credit card.. and incase of withdrawal --how do u withdraw.Murugesan August, 2009
i want to know is in this website can i able to make money or not is this website is trustworthy or fraudshiva July, 2009
the disadvantages you mentioned is not right because in iforex you can use demo in net version also + in india they are providing online training. i think this disadvantages is written without any researchtenzin namdak July, 2009
iforex is genuine broker.i am trading here since 6 months. i started my a/c with $100 and till yet my withdrawal is $1200 and still i have $209 in my accounttenzin namdak July, 2009
All this talk of profit taking makes me wonder is it not true? To iforex can one only withdraw the amount you deposited. What about the money you banked because of a positive trades?Freddie July, 2009
i have to disagree with mr talal , the deals are correct, and you cant withdraw more than your balance , it does not make sence , good luckmohamed June, 2009
never trust IForex. because they are not trading with your deals in forex market they keep them internally. their profit comes from your loss. you will find out this when you withdrawing more than the amount you deposit (here i am talking if you make big profit and you are already withdrew you capital).Talal Al Reyami June, 2009