Review

iFOREX Pips

As of July 2018, iFOREX is no longer serving traders in the EU. Instead, all EU-based traders can now trade with Vestle, the new trading name of iCFD Ltd, formerly known as iFOREX  Vestle review here.

iFOREX Group, the group that eBrokerhouse Ltd. Ltd (brand name iFOREX) is part of, was founded in 1996 and has since become one of the largest and most respected firms in the online trading industry.

 iFOREX enables traders to invest in over 650 CFD products including shares, commodities, currencies, cryptos, indices and ETFs. iFOREX has distinguished itself as an industry leader with excellent trading conditions, in-house developed trading platform for web and mobile and an exclusive education package which includes 1-on-1 training.

iFOREX (eBrokerhouse Ltd.) is authorized by HFSA under the license numbers III/73.059/2000. and III/73.059-4/2002 and regulated by THE CENTRAL BANK OF HUNGARY. It follows the regulations imposed by Mifid II and ESMA.

 

Accounts

iFOREX offers a standard mini account which must be funded by a minimum deposit of US$100 and a VIP account where the minimum transaction size is $2,500 (or the equivalent), with up to 30:1 leverage (the maximum leverage permitted under ESMA).

iFOREX does not charge any commission for opening positions, though there is a spread between the buy and sell rates which is customary in all dealing rooms and Forex trading platforms throughout the world. 

iFOREX Broker

Features

iFOREX offers hundreds of tradable CFD products including shares such as Apple, Facebook and Xiaomi, commodities such as oil and gold, cryptos, currencies, indices and ETFs. We offer CFDs from multiple markets and industry, allowing traders to diversify their portfolio and better manage risks.

iFOREX investors have at their disposal several sophisticated trading tools, including one which allows them to place a Limit Order at a better rate, which in turn cancels other orders once executed. Also, investors may pre-determine a Stop Loss or a Take Profit.

In addition, it is also possible to gain or risk by setting a pre-defined rate with which to open or close a position.

iFOREX Broker Review

At iFOREX, investors are not obliged to set a stop loss rate. They may also open new positions based on future profits from existing open positions.

Traders receive constant up-to-date account monitoring options which allow them to view their opened positions, collateral and exposure values in real time. This real-time service gives investors better control over their portfolios and aids management immensely.

iFOREX offers free direct access to advanced trading charts and market indicators with charts, allowing for multiple time frame analysis and the ability to perform advanced technical analysis. These charts can assist investors in visually tracking currency price movements and analyzing market trends. Additionally, the history of each currency pair’s value as well as the latest movements can be viewed.

The Advanced Trading Signals option sends traders live updates on the latest market trends for the hottest currency pairs, shares, commodities, indices, cryptos and ETFs. Provided by a third-party, the signals are delivered directly to a trader’s mobile device and can be fully customized to suit the trading needs and preferences of each trader.

The website is available in several languages and features daily market news and analysis. 

Bonus

Following ESMA guidelines, online trading sites are not allowed to offer any promotions. Since iFOREX is fully regulated, there are currently no promotions available.

Education

iFOREX is big on education and offers its clients lots of useful information designed to assist traders in managing their portfolio and making decisions. Each unique learning guide is easy-to-read and is applicable for traders at every experience level. Some of the interesting video courses include moving averages, common trading mistakes and others. 

iFOREX Education Center

The iFOREX e-books accompany many of these interactive courses and a full glossary of financial terms is available.

1-on-1 training is provided so traders can learn at their own pace.

Free educational packages can be ordered by simply filling out an online form. The beginner’s course has full instructions on how to use the iFOREX platform and the advanced course provides professional strategies to more experienced traders. 

iFOREX traders can stay up-to-date on the markets by viewing any of the daily news reports and analysis posted on the website. They will also find the iFOREX blog full of relevant articles on current market events.

iFOREX Market Reports

Deposits/Withdrawals

iFOREX provides various means of online and offline fund deposit options, including Bank Wire, Credit Card, Skrill, Western Union, Debit Card and eWallets.

Withdrawals are requested via the online withdrawal form.

Customer Support

Customer support at iFOREX can be contacted 24/5 via email, toll free telephone numbers and chat.

There is also a textual support ‘hub’ that explains in detail everything a trader needs to know with regards to opening an account, payment options and basic details about CFD and Forex trading. This is very helpful for those who need immediate assistance even during non-working hours.

Conclusion

iFOREX is a broker that values responsibility, integrity and transparency. Its educational materials are extensive and diversified and the choice of several different platforms allows for a great trading experience. There are no bonuses, but following ESMA, the same is true for all regulated brokers.

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Features

The most impressive feature at iFOREX is its educational section where different instructive materials are offered free of charge. The list of educational tools includes ebooks, tutorials, personalized video courses, numerous articles on trading-related topics and 1-on-1 personal training. iForexopedia contains a full glossary of financial words and phrases.

In addition, there are many trading tools to choose from as well as advanced trading platforms for web and mobile. The website and customer support are attentive and available in several languages.   

Company Information

  • Broker's Name : iFOREX
  • Headquarter : Hungary
  • Regulation : HFSA

Account Information

  • Type of Broker : Market Maker
  • U.S. Clients Allowed :
  • Minimum Deposit : $100
  • Maximum Leverage : 1:30
  • Commissions / Spreads : Spreads
  • Account 1 : Mini
  • Account 2 : VIP
  • Demo Account :
  • Islamic Account :
  • Segregated Account :
  • Managed Accounts :
  • Institutional Accounts :
  • Deposit Options :
  • Withdrawal Options :

Instruments Traded

  • ETFs :
  • CFDs :
  • Commodities :
  • Metals :
  • Stocks :
  • Oil :
  • Gold :
  • Binary Options :
  • Indices :

Trading Platforms

  • Type of Platform : Proprietary platform, Web-based, Other
    • Platform Languages :
      • Other
      • English
    • OS Compatibility :
      • Mobile
      • Web
      • iPhone
      • Windows
  • Trading Signals :
  • Charting Package :
  • Market Analysis :
  • Chart Trading :
  • Automated Trading :
  • Scalping :
  • Hedging :
  • Mobile Alerts :
  • E-mail Alerts :
  • Trailing Stops :
  • Guaranteed Stop Loss :
  • Guaranteed Limit Orders :
  • Guaranteed Execution :
  • One-click Execution :
  • OCO Orders :
  • Interest on Margin :
  • Web-based Trading :
  • Mobile Trading :

Customer Support

    • Website Languages :
      • Other
      • English
      • Spanish
      • Arabic
      • Italian
      • French
      • German
      • Greek
      • Russian
      • Chinese
      • Dutch
  • Support Hours : 24/5
  • E-mail Support :
  • SMS Support :
  • Chat :

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Platforms

iFOREX offers traders the choice of user-friendly trading platforms—a web based and a mobile trading platform for smartphones.

Clients can trade whenever they choose, using the system they prefer while receiving instant professional support when needed.

iFOREX Trading Platform

 

Web-Based

The iFOREX web-based platform is geared to suit the needs of mobile traders and is ideal for traders who travel and need full accessibility anytime anywhere. It allows traders to access a variety of features directly from their computer such as opening and closing positions, depositing and withdrawing funds and viewing account history without any downloading.

There is no downloading or installation required and traders can access over 650 tradable instruments.

Mobile Platform

The iFOREX mobile platform is highly suitable for the modern trader. It offers many of the features available on the web platform and allows traders to access their accounts on the go while trading anywhere and anytime. Traders will be able to place trades quickly and constantly monitor their positions.

Other features of this platform include complete access to their wallet, balance sheets, equity and margin details, and the ability to customize their own layout for easy usage. For a complete mobile trading experience, traders are advised to download the mobile app, available for free on the App Store or Google Play.

iFOREX Mobile Platform

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User Reviews

Did you have a good experience with this broker? A bad one? Tell our team and traders worldwide about your experience in our User Reviews tab. Your email address will not be posted.

Please make sure your comments are appropriate and that they do not promote services or products, political parties, campaign material or ballot propositions. Comments that contain abusive, vulgar, offensive, threatening or harassing language, or personal attacks of any kind will be deleted. Comments including inappropriate, irrelevant or promotional links will also be removed.



38 User Reviews

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.

Musleh_3
Musleh_3

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.

ElenaAleksandrov
ElenaAleksandrov

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.

MarcusSanders
MarcusSanders

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.

IngridA
IngridA

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!

sahilmehra
sahilmehra

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 helppppp

Prabhat Kumar
Prabhat Kumar

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.

Guparvesh singh
Guparvesh singh

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 NO

KAMAL
KAMAL

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.

Sharan
Sharan

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?

Ram Kishore
Ram Kishore

What is iFOREX like profile, working etc. ???

raja
raja

how do you withdraw money? does it get credited to your bank a/c directly?

deep
deep

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 iforex

anees
anees

What is iFOREX? Let me know in detail.

Mani
Mani

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 ?

Milind
Milind

Yeah

Firoz
Firoz

I am new for trading, Please help me regarding should I start with iForex or not? is it a good one or fraud?

ranjan
ranjan

Want to start trading with iforex but the $100 initial payment thru netsafe is safe or not. Pls suggest.

mohanraj
mohanraj

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.

Hillel
Hillel

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.

sudhahar
sudhahar

I read iforex is kind of scam.Is it true?

Hillel
Hillel

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.aspx

Dilip G.V.
Dilip G.V.

As per my experience, forex trading is very dangerous with minimum balance like $100. Better trading with minimum balance $500.

George
George

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.

Subavel
Subavel

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 9994488161

johnmilton
johnmilton

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...

Tenzin
Tenzin

Hi, i am very happy with iforex trading and i confirmed with my CA and he told me that iforex trading is legal in india

Aziz U
Aziz U

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!

forex Guru
forex Guru

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.

Matt
Matt

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.

Pralahad Naik
Pralahad Naik

Hi, Can anybody tell me how genuine is this trading? Also does this trading has approval from RBI?

Murugesan
Murugesan

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.

shiva
shiva

i want to know is in this website can i able to make money or not is this website is trustworthy or fraud

tenzin namdak
tenzin namdak

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 research

tenzin namdak
tenzin namdak

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 account

Freddie
Freddie

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?

mohamed
mohamed

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 luck

Talal Al Reyami
Talal Al Reyami

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).

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Please make sure your comments are appropriate and that they do not promote services or products, political parties, campaign material or ballot propositions. Comments that contain abusive, vulgar, offensive, threatening or harassing language, or personal attacks of any kind will be deleted. Comments including inappropriate, irrelevant or promotional links will also be removed.


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Review info: iFOREX
Review Date:
Rating : 4
Reviewed By :