Expert Summary
iForex is the trademark of the iForex Group. The subsidiaries include Vestle, a European investment firm regulated by the Cyprus Securities and Exchange Commission (CySEC). Read on for our iForex review.
The other subsidiaries are Formula Investment House Ltd, licensed by the Financial Services Commission (FSC) in the British Virgin Islands and eBrókerház Befektetési Szolgáltató Zrt, an investment firm under the supervision of the National Bank of Hungary.
Individuals registering with the CFD broker can choose from a range of over 800 CFD instruments comprising FX, commodities, indices, shares, cryptocurrencies, and ETFs. All the products are available only from the broker’s exclusive iForex platform, accessible directly on your browser or as a mobile application.
The terminal supports all browsers, while Android and iPhone users can download the app from the respective App store. The iForex platform has a user-friendly interface with several in-built features, encompassing live charts, technical indicators, global economic calendar, trading signals, and the market sentiment indicator.
All clients signing-up with iForex come under zero-balance protection. The trading conditions include three order types, variable spread and max leverage of 400:1. When it comes to educational resources, iForex provides tons of learning material for beginners and experienced traders.
These include market guides, video tutorials and articles for all categories of traders. Also, clients registering with the broker outside Europe receive a trading bonus of up to 100% and a one-on-one trading coach.
iForex is a multi-regulated CFD broker with more than 20 years in the industry. The CySEC regulation safeguards its European clients not only if the broker files for bankruptcy but also if they fail to settle legitimate claims. Besides, the stringent regulations ensure adequate risk management, protection of client’s interests, including the security of deposits and privacy.
iForex offers customer support in 15 languages via live chat, email, and phone, while the website is accessible in eleven tongues. iForex currently operates in 159 countries and claims to have about 6.5 million customers executing more than 30k transactions per day.
Regulation and security
iFOREX is licensed and supervised by the British Virgin Islands’ Financial Services Commission. As a regulated company, iFOREX has a Negative Balance Protection policy, which means that clients can never lose more than the funds in their account. iFOREX also takes many steps to protect its clients’ privacy and security. All sensitive information is passed through advanced encryption services such as Secure Sockets Layer (SSL) and firewalls.
Trading platforms
Unlike most of its competitors, iFOREX does not use a pre-made trading platform. This broker has developed an in-house proprietary trading platform that can be fully customised to traders’ needs. This trading platform was created using real clients’ experience and feedback, using the company’s vast experience in the financial industry. It is constantly updated with new tools and features, and allows clients to trade on the web from any PC or laptop – no downloading is required.
What about mobile? You won’t be disappointed. It’s clear that iFOREX takes mobile trading very seriously – and it should. Today, more and more traders worldwide access their account and manage their deals through their smartphone, and mobile access can be the difference between staying ahead of the market and trailing behind it.
The iFOREX trading platform operates smoothly on mobile devices, but for an optimal mobile trading experience, iFOREX clients are encouraged to download the iFOREX trading app, which is available for free on the App Store and Google Play. The innovative mobile trading app is designed to assist traders in accessing real-time market opportunities and trading on the go.
Selection of tradable instruments
It doesn’t matter what instrument you want to trade – with over 800 tradable CFDs, iFOREX is sure to have it. The selection of instruments allows traders to diversify their portfolio, employ more thorough risk management, and expose their portfolio to new markets and industries.
The CFD instruments on the iFOREX platform include:
Commodities – Choose from several categories: energy commodities such as oil or natural gas, precious metals such as gold or silver, and agricultural commodities such as cocoa and coffee.
Indices – You can find indices from many countries and industries, such as the US30 (which is based on the performances of the Dow Jones Industrial Average futures index) or the Japan 225 (which is based on the performances of the Nikkei 225 futures index).
Currency pairs – Choose from majors and minors. There are over 80 currency pairs to choose from, and you can trade them with extremely tight spreads.
Cryptocurrencies – There is an impressive number of instruments from this new, volatile market, including bitcoin, Ripple, Ethereum, Litecoin, Dash and more.
Shares – The iFOREX platform features shares from multiple regions and industries. All the big brand names are here: Google, Amazon, Alibaba, Apple, major automobile companies, airlines, banks, fast food chains – the list goes on and on.
ETFs – This less familiar category of CFDs is well represented on the iFOREX trading platform. You can choose from different asset categories.
If you’re wondering how you’re going to start looking for an instrument with such an overwhelming selection, worry not. The trading platform includes many sorting tools, allowing you to find a specific instrument easily and quickly, as well as enabling you to identify the most volatile instruments (‘risers’ and ‘fallers’) or the most popular instruments (according to traders in your area).
Education and information
It doesn’t matter how experienced or knowledgeable you are as a trader, you can always improve. iFOREX provides its clients with all the resources they need to learn new trading strategies and deepen their understanding of online trading, market opportunities and risk management.
The education resources include:
- PDF guides
- Video tutorials
- Articles for traders of all levels
Best of all, every new iFOREX client is entitled to free, one-on-one training with a trading coach. This allows traders to get to know the trading platform and services, ask questions and learn at their own pace. New traders are also likely to appreciate the $5,000 Demo Account, where they can train and gain experience with no risk until they feel ready to trade for real.
Trading tools
This broker understands the needs of modern traders and provides all the trading tools they need to control their deals and make informed decisions. These tools include:
- Trading signals
- Live charts
- Market indicators
- An economic calendar
- Advanced market orders
- Trading sentiment
The key features of trading with iFOREX
- Regulated and secure
- Leverage of up to 400:1
- Extremely tight spreads on all instruments
- Up to 100% trading bonus
- Proprietary trading platform
- Cutting-edge trading tools
- Free education resources
- One-on-one training with a trading coach
- Over 800 tradable instruments