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.
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.