iFOREX Review

Review

As of July 2018, iCFD Ltd, which is one of the iFOREX’s group entities, serving traders in the EU, has changed its name from iFOREX to Vestle. Read our full Vestle review here.​ 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. 

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.

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. 

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.

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.   

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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.

 

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.

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User Reviews

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