iForex Broker Review


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    Visit BrokerRisk Warning: Your capital may be at risk


    💻 Demo Account: Yes
    ⚖ Allows Hedging: Yes
    🔪 Allows Scalping: Yes
    🏢 Headquarters: Athens, Greece
    📅 Founded: 1996
    📈 Trading Platform(s): iForex Trading Platform (web based and download versions)
    📜 Regulating Authority(s): PSZAF, CYSEC
    💰 Minimum Deposit: $100
    📣 Maximum Leverage: 400:1

    Visit iForex
    Risk Warning: Your capital may be at risk

    $100
    Minimum Deposit
    400:1
    Maximum Leverage
    1996
    Founded

    Our Review of iForex

    iForex
    Company Overview
    iForex was founded in 1996 as an international group of forex companies. A group of bankers and forex professionals founded the company. The company has thousands of forex customers today. The company launched its Internet based trading platform in 2004. The online trading platform helped the company to reach out to tens of thousands of customers. The company generates trading volumes to the tune of hundreds of billions of dollars annually. The company runs its operations with the support of thousands of employees located in all major financial centers around the world.

    Account Types
    iForex offers various account types. These include forex, commodities and indices. iForex offers a bunch of tradable currency pairs to trade via its forex accounts. The company’s forex accounts allow customers to enter the massive currency market. The currency trading market is 10 times bigger than the stock market. The daily trading volumes reach over $4 trillion. The forex account allows trading on a 24/7 basis.

    iForex offers commodity trading accounts to trade commodities such as gold, silver and oil. You can trade these commodities from an individual trading account. A commodities account allows the customer to trade either contract for difference (CFD) or spot, depending on the commodity chosen. CFD allows customers to trade various financial instruments without physically owning them. An iForex commodities account allows trading without any commissions.

    A third type of account allows trading indices in the form of CFDs from your computer or mobile device. The CFD format allows customers to purchase and sell indices without physical ownership. You can trade indicates without commissions. iForex also offers a commission free Islamic account for forex and CFD trading.

    Commissions and Spreads
    iForex does not charge commissions on its forex, commodities and indices trading accounts. There is a spread between buy and sell rates. The spreads in opening and selling positions apply in all trading platforms and accounts. The spread for spot and forward positions ranges from 0.02 percent to 0.05 percent. The spread varies for commodities and indices, depending on the type of the product.

    Trading Software
    iForex offers several convenient trading platforms to its customers. A web-based platform allows customers to access the accounts online and trade from anywhere. A downloadable platform for personal computers is also offered. A mobile trading platform is also offered for trading via most popular smart phones and tablets.

    Deposits and Withdrawals
    There are various means to fund your account. iForex allows online and offline options to deposit money into your account. You can use credit cards, wire transfers, debit cards and e-wallets. You can email iForex with details of the wire transfer such as name, contact number and information about the transfer request. If you use credit card, then your credit card statement will reflect charges against iForex.com.

    You can withdraw money by logging into your online account. You cannot request the funds to be transferred to a third party. The customer needs to sign and send 3 sets of documents in order to withdraw money. These documents include a personal identification document such as passport or driving license, proof of residence such as bank statement or utility bill and a copy of credit card if you deposited money using credit cards. You can send the documents electronically or via fax.

    Customer Support
    iForex provides customer support 24 hours on all 5 weekdays. You can reach customer service by chat, email or phone. Expert customer service personnel are available to answer any questions related to trading, account setup, commissions, margin, deposit, withdrawals and any other issues.

    Regulations
    iForex operates within the regulations offered by various countries where trading transactions are conducted. The company adheres to the restrictions and regulations setup by local and international agencies.

    Leverage
    The forex and commodities accounts offer leverage up to 400:1. The indices CFD accounts offer a leverage of 200:1. The leverage is subject to local regulations.

    Promotions
    iForex offers several promotions to its customers. The iForex VIP service provides advanced forex education, training, educational materials and tutorials. The service comes with advanced charts, signals and mobile trading tools. The service also offers special bonuses and a dedicated account manager. The company also offers a free 1-on-1 personal training with access to e-training courses. The current promotions also include access to the iForex mobile trading platform, which allows trading from most popular mobile devices. 


    Visit iForex's Website

Company Information
Broker's Name
iForex
Headquartered in
Athens, Greece
Year Founded
1996
Regulating Authority
PSZAF, CYSEC
US Clients Accepted
No
Telephone Number
30 210 374 2599
Fax Number
30 210 374 2598
E-Mail Address
info@iforex.com
Account Options
Type of Broker
Dealing Desk
Commission
Mini Account
Yes
VIP Account
Yes
Segregated Account
Islamic Account (Swap Free)
Yes
Demo Account
Yes
Institutional Accounts
Yes
Managed Accounts
No
Maximum Leverage
400:1
Minimum Deposit
$100
Deposit Options
Bank Wire, Credit Cards, Debit Cards, eWallets
Withdrawal Options
Credit Card, Wire Transfer
More Instruments
Metals
Yes
Oil
Yes
Gold
Indices
Yes
Stocks
Commodities
Yes
ETFs
CFDs
Trading Platform
Platform Type
iForex Trading Platform (web based and download versions)
Platform Languages
Hebrew, Indonesian, Malaysian, German, English, Spanish, French, Italian, Hungarian, Dutch, Polish, Portuguese, Romanian, Filipino, Turkish, Russian, Arabic, Chinese, Japanese
OS Compatibility
Streaming News Feed
Charting Package
Yes
Trading Signals
Yes
Automated Trading
Trade From Charts
Yes
Market Commentary
Yes
E-mail Alerts
Yes
Mobile Alerts
Yes
Scalping
Yes
Hedging
Yes
Trailing Stops
Guaranteed Stop Loss
Yes
Guaranteed Limit Orders
Yes
Guaranteed Fills
Yes
Interest on Margin
One-Click Execution
OCO Orders
Yes
Mobile Trading
Yes
Web-Based Trading
Yes
Customer Service
Customer Support Languages
Hebrew, Indonesian, Malasian, German, English, Spanish, French, Italian, Hungarian, Dutch, Polish, Portugese, Romanian, Filipilno, Turkish, Russian, Arabic, Persian, Chinese, Japanese
Customer Service Hours
24-
Place Trades Over the Phone?
Yes
Bonuses & Rewards
No Deposit Bonus
No
Bonus for First Deposit
Yes
Is the Bonus Based on the Volume of the Transaction?
Yes
Other Bonuses
Yes


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Our Rating: 
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Broker Type: 
Forex

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