iForex Review, Rating and Comparison

Overview

iForex Trading Accounts

Rank
4/10
Based on 5 Reviews
Position in Rating
84
Since 01 June, 2016
Vote
Company Reviews
«I Trust» 0% (0) Standart 100% (5) «Scam Alert» 0% (0)
Official Name
iForex
Headquarters
Formula Investment House Ltd. 15 Nikis St. Syntagma Square, 10557 Athens, Greece.
Offices in
Cyprus, British Virgin Islands
Year founded
2004
Official Website
Official e-mail
Phone numbers
+302103742599
+302103742575
+302103742599

iFOREX is a one of the leading forex brokers. The company has created a modern and universal trading platform, through which customers have the opportunity to trade various financial instruments.
Trading platforms were created by the developers taking into account the needs and preferences of customers.
 
The company has a Cyprus CySEC license and a license issued by the National Bank of Hungary.
On the platform, users can find training courses and manuals with materials provided by the company, which will help beginners to develop trading strategies faster, and experienced traders to expand their knowledge.

Features:
128 bit SSL encryption
Guaranteed Stop-Loss
Negative Balance Protection Program
Different types of rates provided
Negative balance protection
Warehouse
Cons
Demo Account Not Available
Known For Soliciting Traders To Make Deposits
Poor Customer Service

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Rating chart

Detailed Information

Min. Position Size, lot:
0.02
Min. Account Size, $:
100
Max. Leverage
1:400
Spread:
1.0
Payment Options:
WebMoney, QIWI, Neteller, Skrill (Moneybookers), Bank Wire Transfer, Visa \ MasterCard, Western Union, Credit cards
Regulation:
CySec
US Traders:
Demo Platforms:
Own platform
Website Languages:
English, Spanish, Russian, German, Portuguese, French, Arabic, Japanese, Indonesian, Italian, Turkish, Romanian, Hungarian, Greek, Dutch
Support Languages:
English, Spanish, Russian, German, French, Arabic, Chinese, Italian, Romanian
Support Methods:
Callback, Phone, Email, Live chat
Trading Server Timezone:
GMT
VPS for Traders:
Available
Standard
Interest-Free
Premium
Protected
Min. Position Size, lot:
0.01
Min. Account Size, $:
100
Maximum leverage, 1:
400
Spread Type:
Fixed
Typical spread on EUR/USD, pips:
1.3
Min. spread on EUR/USD, pips:
1.3
Trading Instruments:
Forex — 1:400
CFD — 1:400
Trading Platforms:
FxNet
Currencies:
United States Dollar
Digits after the decimal point in quotes:
4
Additional Features:
Min. Position Size, lot:
0.01
Min. Account Size, $:
100
Maximum leverage, 1:
400
Spread Type:
Fixed
Typical spread on EUR/USD, pips:
1.3
Min. spread on EUR/USD, pips:
1.3
Trading Instruments:
Forex — 1:400
CFD — 1:400
Trading Platforms:
FxNet
Currencies:
United States Dollar
Digits after the decimal point in quotes:
4
Additional Features:
  • Swap Free
Min. Position Size, lot:
0.01
Min. Account Size, $:
2000
Maximum leverage, 1:
400
Spread Type:
Fixed
Typical spread on EUR/USD, pips:
1.0
Min. spread on EUR/USD, pips:
1.0
Trading Instruments:
Forex — 1:400
CFD — 1:400
Trading Platforms:
FxNet
Currencies:
United States Dollar
Digits after the decimal point in quotes:
4
Additional Features:
  • VIP
Min. Position Size, lot:
0.01
Min. Account Size, $:
100
Maximum leverage, 1:
100
Spread Type:
Fixed
Typical spread on EUR/USD, pips:
1.3
Min. spread on EUR/USD, pips:
1.3
Trading Instruments:
Forex — 1:400
CFD — 1:400
Trading Platforms:
FxNet
Currencies:
United States Dollar
Digits after the decimal point in quotes:
4
Additional Features:
  • Telephone dealing

iForex Reviews

avatar
15 June, 2018

Allison from Turkey

7

I like how to work with this broker. Very good technical support, pleases that it is possible to sign documents for opening an account quickly, it does not take much time. Commissions are levied only for purchases or sales. A little non-standard procedure for opening an account, probably the only small minus.

avatar
25 April, 2018

Konstantin Mikov from Bulgaria

1

I am attorney at law and I represent clients against iFOREX. Indeed they seem to be scam - they push you to deposit more and more even if they see that you are an unexperienced trader. They also harass you on the phone by giving you advices which finally lead to a total loss of your deposits. This broker should be avoided.

avatar
26 March, 2018

Mehis from Estonia

2

Pls, Dont trust the broker. I have lost so much money to a broker who lied to me over the phone.He was supposed to help me but he stole 1000 from my bank the next day. Do never ever trust a broker from this company. WARNING!

avatar
26 June, 2017

Daniel from Moldova

2

I used to work in institutional bank in my country, so I'm quite familiar with all the basics of exchange market. One of the primary criteria for brokerage is payment clearing service company. If broker doesn't have one - never trust your money. This broker states that Formula Investment House B.O.S. Ltd provides such service. In Cyprus register you can find, information, that this company has THE WELLHUNG SERVICES COMPANY LIMITED as a secretary, which is currently dissolved. Their chat support doesn't provide any clarifications regarding this matter, neither do their manager when phoned me.

avatar
31 July, 2016

Fatima from Montenegro

8

Initially I learned trading in iForex on demo account. Upon registration it is offering different training materials to all clients, as well as courses, videos and so on. Then I was a beginner and all these lessons were useful to me. Next up it was my first real account with initial deposit. it's clear that I lost it. Then there was another one real account without any promos and bonuses. Broker does not intervene in trade, so you'd better improve your trading skills. Over the past 2 years I have won and lost money. Just for fun I have tried other brokers, but eventually forgot about them. Last time I was trading rarely, but have steady income. Regarding conditions of broker will be brief: fulfills all stated conditions.

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