iFOREX is one of the most reputable forex brokers in the market. iFOREX Group started operations in 1996. During the formation stage of iFOREX, investment bankers and Forex dealers came together to sign a memorandum of understanding that resulted in a firm known as iFOREX. iFOREX came into existence with the intention of creating a trading platform for thousands of forex traders across the world. iFOREX is unique because it supports multiple languages. If English is not your primary medium of communication, do not worry, the iFOREX trading platform is a multilingual platform that you can do leveraged trade in forex and CFDs irrespective of your language.
Also, iFOREX is not in the business of foreign exchange, investment advice or managing the daily trading activities of clients, rather the company’s primary objective is to facilitate trade, which would then allow traders to manage their investment portfolios themselves.
iFOREX pulls on the state-of-the-art facilities to provide its traders with a user-friendly trading platform, multiple trading services, and mobile platform compatibility. Also, traders can access their trading platform via PC, as well as, smartphones. Traders have a lot to benefit from this company, some of which are; market prices in real time, tight margins and spreads, 24/5 operation, and robust customer support. iFOREX is a subsidiary of the iFOREX Group and is licensed in the European Union.
iFOREX makes use of Secure Socket Layer Technology to provide traders with a platform that is secure and safe to transact whenever they trade online. This review will provide you with the essential information that will enable you to decide whether to trade with iFOREX or not. So read until the end to know our final thought regarding the viability of this trading platform.
When you register on the iFOREX platform, there are different types of trading account available that you can choose. The account types are , Standard Account, as well as a Premium account.
Trading Software or Platform
When you register on the iFOREX platform as a trader, three different types of platforms would be available to you. The platforms are FXNet platform, mobile platform, and web-based platform. Traders are required to download the iFOREX trading software on the various devices because the platform operates off Windows. The iFOREX trading platform comes with a lot of features such as single-screen operation, one-click operation, advanced charting features, and traders full customization, among others. The FXNet trading platform is meant solely for traders that are professionals because they have Microsoft.net technology.
Furthermore, the web-based trading platform is meant solely for those that want to trade forex without necessarily downloading the software on their devices. Any web-browser is suitable for this purpose. Also, this trading platform comes with unique features such as 128-bit SSL technology, over 90 tradable instruments, and firewall access management, among others.
The mobile trading platform is compatible with tablets, iOS, Android, and any smartphones you can think. This trading platform is unique because you can trade even if you are on a bus or a train. This platform comes with its unique features such as over 90 currency pairs, timely tracking of position, commodities, full customization, indices and stocks, and swipe to close execution, among others.
Traders on iFOREX have access to economic calendar, advanced trading signals, as well as, market reports and charts.
It is important to highlight at this point that iFOREX doesn’t operate the MT4 trading platform. The MT4 trading platform is one of the most recognized trading platforms across the world.
The iFOREX trading platform accepts various methods of payment. Some of the payment methods acceptable of the platform are Skrill, Visa, Diners Club, MasterCard, PayPal, Wire transfer, PostePay, Visa Electron, and WebMoney. All these payment methods are guaranteed of high-level security due to the usage of firewalls, advanced encryption methods, as well as, SSL technology. Traders are assured of seamless and timely deposit.
The iFOREX trading platform comes with various financial instruments such as commodities, currencies, shares, and indices. The fiat-based currencies accepted on the platform include;
- EUR and USD
- USD and JPY
- GBP and USD
- AUD and USD
- EUR and JPY
- GBP and JPY
- NZD and USD
- USD and CHF
- USD and CAD
Also, the commodities available on the iFOREX platform are gold, platinum, coffee, oil, silver, corn, sugar, natural gas, and soybeans.
Indices available on the platform are NASDAQ, Dow Jones, FTSE/MID 40, Nikkei 225, DAX 30, FTSE 100, AEX 25, S&P 500, CAC-40, EURO STOXX50, as well as, WIG 20. iFOREX indices are available for trading with a 200:1 leverage.
Talking about iFOREX Shares, traders can use leverage on shares to trade Coca-Cola, Amazon, Cisco, McDonald’s, Apple, Facebook, Google, Microsoft, IBM, Twitter, Intel, and Pfizer. iFOREX shares are available for trading with a leverage of 20:1.
iFOREX do not offer bonuses, but clients are offered other benefits such as Education Package, Mobile Trading, Negative Balance Protection, free one-on-one personal training as well as spread discounts, depending on their account.
Traders on the iFOREX trading platform enjoy 24/5 access. iFOREX has various customer support communication channels such as live chat where you have to enter your email address, name, and phone number. The iFOREX customer support helplines are +36-1-8808-400, +36-1-8808-422. The customer service team are trained and qualified to handle customers’ complaint and query with the highest level of professionalism. Information about the company’s operations is available online for traders to access.
The services offered are effectively regulated by relevant government agencies. iFOREX is operated by iCFD Limited, a Cyprus Investment Firm (CIF), licensed and regylated by the Cyprus Securities and Exchange Commission (CySEC) under license no. 143/11.The security and data of traders on the iFOREX trading platform is guaranteed in line with the protection of data and disclosure policies- as per European Union regulation. Also, the platform is encrypted with SSL, firewalls, and top-notch payment security.
Ease of use
Since the development of the iFOREX trading platform, it has strived to become one of the most sought-after trading platforms across the world. The website is regularly being updated to inform traders about the latest happenings in the market. The website is user-friendly. Potential traders can set up an account with just a few clicks.
The following are some of the benefits you stand to enjoy when you are a registered trader on the iFOREX .com platform;
- You will enjoy tight spreads
- There is leverage up to 400:1
- Availability of several tradable assets
- Different trading platforms
The iFOREX trading platform is currently one of the best trading platforms across the world. It offers a multilingual platform for traders that find it difficult to speak or comprehend English. The iFOREX trading platforms are FXNet platform, mobile platform, and web-based platform. Each of these platforms has its unique features as highlighted above.
The platform offers different types of financial instruments such as indices, shares, commodities, and forex. Also, the platform has robust customer support that ensures customers’ complaint is resolved within the shortest possible.