iForex Reviews and User Ratings

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iForex General Information


Broker Name
iForex
Established
1996
Country
Greece
Min Deposit
$100
Max Leverage
1:400
Regulation
CySEC
Email
info@iforex.com
Telephone
30 210 374 2599
Fax
30 210 374 2598
Website Language
English, French, Russian, Spanish, Malay, Arabic, German, Italian, Japanese, Polish, Czech, Portuguese, Indonesian
Support Methods
Email
Telephone
Live Chat
Skype
24/7 Support
Deposit Options
Credit Cards, Debit Cards, Wire Transfer, Western Union, Skrill, Neteller
Withdraw Options
Credit Cards, Debit Cards, Wire Transfer, Western Union, Skrill, Neteller

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Description


iForex Background

Based in Athens, Greece, iForex was initially established back in 1996 and is focused on trading metals, oil, indices and commodities. Although the company was established by a group of bankers, it just was in 2004 that it began offering online trading services. A major reason why it has acquired immense popularity amidst traders is that of its tight spreads, making it possible for traders to maximize on the margins that are allocated to them and its dedication to preventing its traders from overtrading.

Features of iForex

Presents four different types of trading accounts to choose from

Features tight spreads

Allows traders to make full use of their margin facilities

Guaranteed stop-loss

Features an outstanding negative balance protection program

Deposit options include credit cards, bank wire, eWallets and debit cards

Withdrawal options include wire transfer and credit cards

Bonus offered for first deposits
When you access iForex’s website, the first thing that will hit you is the fact that it is in Arabic. However, a list of languages is given for you to choose from and includes English, French, Spanish, and Italian etc. On the whole, the website is very simple and easy to use with all the necessary elements present right at the homepage.

Conclusion

From what can be drawn, iForex is a fairly reliable broker, but a major setback to its usage is that it does not allow traders to create demo accounts. Instead, they need to create a ‘protected’ account charged at $100 for a 14-day trial. Moreover, it doesn’t feature the MetaTrader 4 platform, which raises suspicions as well. However, it has plenty of satisfied users, which is enough for one to at least give it a try.

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Video


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Features and Trading Instruments


Features
Hedging
Scalping
Margin Interest Rate
Trailing Stop
Web Based Trading
Pending Orders
One Click Execution
Mobile Trading
US Traders
Automated Trading
Islamic Account
Swaps
Segregated account
Affiliate Program
Trading Contest
PAMM
Trading Instruments
Oil
Gold
Metal
Indices
ETFs
CFDs
Stocks
Commodities
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Pros and Cons


Customer service is offered by the broker on a 24-hours basis through the week. Getting in touch with iForex is possible through email, phone, chat and fax. Customer support is offered in multiple languages including English, French, German, Chinese, Persian, Arabic and Hebrew etc.

PROS:
  • Allows traders to access seamless remote technical assistance
  • Features an immaculate negative balance protection program
  • Features different types of accounts
  • Allows traders to use multiple trading platforms
CONS:
  • Does not allow traders to create a demo account
  • Although customer service is offered all through the day, it isn’t known for its efficiency
  • ‘Protected’ accounts charged at $100
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Account Type


  • Minimum Account Size: $100
  • Spread: Low/ Variable
  • Trading Instruments: Forex, Indices, Commodities, CFDs
  • Trading Platforms: FXnet

  • Minimum Account Size: $100
  • Spread: Low/ Variable
  • Trading Instruments: Forex, Indices, Commodities, CFDs
  • Trading Platforms: FXnet

*Interest Free is purposely for Islamic Account

  • Minimum Account Size: $2000
  • Spread: Low/ Variable
  • Trading Instruments: Forex, Indices, Commodities, CFDs
  • Trading Platforms: FXnet

  • Minimum Account Size: $100
  • Spread: Low/ Variable
  • Trading Instruments: Forex, Indices, Commodities, CFDs
  • Trading Platforms: FXnet

*Maximum leverage is 1:100

iForex Review Score


iForex Reviews and User Ratings
7.9 Total Score
5 reviews
Add your review
Web Design
8.0
Reliability
7.8
Platform
8.2
Customer Support
7.8
Withdrawal
7.8
Broker Name
iForex
Established
1996
Country
Greece
Min Deposit
$100
Max Leverage
1:400
Regulation
CySEC
Email
info@iforex.com
Telephone
30 210 374 2599
Fax
30 210 374 2598
Website Language
English, French, Russian, Spanish, Malay, Arabic, German, Italian, Japanese, Polish, Czech, Portuguese, Indonesian
Support Methods
Email
Telephone
Live Chat
Skype
24/7 Support
Deposit Options
Credit Cards, Debit Cards, Wire Transfer, Western Union, Skrill, Neteller
Withdraw Options
Credit Cards, Debit Cards, Wire Transfer, Western Union, Skrill, Neteller
Features
Hedging
Scalping
Margin Interest Rate
Trailing Stop
Web Based Trading
Pending Orders
One Click Execution
Mobile Trading
US Traders
Automated Trading
Islamic Account
Swaps
Segregated account
Affiliate Program
Trading Contest
PAMM
Trading Instruments
Oil
Gold
Metal
Indices
ETFs
CFDs
Stocks
Commodities
iForex Reviews and User Ratings
7.9 Total Score
5 reviews
Add your review
Web Design
8.0
Reliability
7.8
Platform
8.2
Customer Support
7.8
Withdrawal
7.8

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5 Comments
Show all Most Helpful Highest Rating Lowest Rating Add your review
  1. Reply
    Raksasha
    February 25, 2016 at 11:21 am
    5
    Web Design
    100
    Reliability
    100
    Platform
    100
    Customer Support
    100
    Withdrawal
    100

    As an experienced trader one thing I look for in a site is whether they are more interested in taking in money or education of customers. Iforex is the later. There are tons of links that a person can use for research to learn more and trade with confidence.

    Helpful(0) Unhelpful(0)You have already voted this
  2. Reply
    Rugaru
    October 15, 2015 at 9:29 pm
    4.7
    Web Design
    100
    Reliability
    90
    Platform
    100
    Customer Support
    100
    Withdrawal
    80

    Normally you log in to your trading platform to trade then use another browser to check prospective rates. That’s not the case for IForex. Here all the information you might want to check to research an ambitious trade is at your finger-tips.

    Helpful(0) Unhelpful(0)You have already voted this
  3. Reply
    Paolo Mortel
    April 14, 2015 at 7:00 pm
    2
    Web Design
    40
    Reliability
    40
    Platform
    40
    Customer Support
    30
    Withdrawal
    50

    Some people will be seduced by IForex’s promise of allowing customers to access 140 different markets. It doesn’t work for me. That much data on their platform might be overwhelming and cause it to be unresponsive at the wrong moment.

    Helpful(0) Unhelpful(0)You have already voted this
  4. Reply
    Lorkan42
    August 17, 2014 at 2:12 pm
    3.6
    Web Design
    70
    Reliability
    70
    Platform
    70
    Customer Support
    70
    Withdrawal
    80

    Most people would appreciate IForex’s international reach, me not so much. The problem with such a wide audience is that it may not be able to cater to specific audiences properly. Some groups might have different needs from the pack.

    Helpful(0) Unhelpful(0)You have already voted this
  5. Reply
    Cuanico
    June 13, 2014 at 12:44 pm
    4.5
    Web Design
    90
    Reliability
    90
    Platform
    100
    Customer Support
    90
    Withdrawal
    80

    IForex has been in business in 1996. That might not seem long but the business only took off when the internet became common so 1996 would have been at the very onset of the industry. For them to survive is a huge plus.

    Helpful(0) Unhelpful(0)You have already voted this

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