Overview of iFOREX
iFOREX is a broker that operates under the regulation of the Cyprus Securities and Exchange Commission (CySEC) with a license number 143/11. It has been in operation for 10-15 years. However, there have been risk alerts and negative feedback associated with iFOREX, including complaints and a negative field survey review within the past 3 months. It is important for potential users to exercise caution and consider these factors.
iFOREX offers a wide range of trading instruments, including currency pairs, commodities, indices, shares, ETFs, cryptocurrencies, and non-leveraged CFDs. Traders can take advantage of leverage options up to 400x on over 750 assets. The broker provides trading platforms such as FXnet and the iFOREX Europe app.
Educational resources are available to help traders improve their skills, and various trading tools such as an economic calendar and live rates are provided. iFOREX offers different payment methods for deposits, including bank wire, credit cards, eWallets, and prepaid cards. Customer support services are also available during specific hours.
Considering the risk alerts and negative feedback mentioned, potential users of iFOREX should carefully evaluate the information provided and conduct further research to make an informed decision.
Pros and Cons
iFOREX offers a range of trading opportunities in various global markets through its regulated brokerage services. It provides a diverse selection of over 750 CFD instruments, including currency pairs, commodities, indices, shares, ETFs, cryptocurrencies, and non-leveraged assets. The broker is licensed by the Cyprus Securities and Exchange Commission (CySEC) and operates under strict regulations. However, it is important to be aware of some risk alerts and negative feedback associated with iFOREX, as reported by WikiFX. Traders can access the iFOREX platforms, FXnet and the iFOREX Europe app, which offer customizable interfaces and a variety of trading tools. The broker also provides educational resources, bonuses, and promotions to support traders in their trading journey. iFOREX accepts multiple payment methods for deposits, and customer support services are available during specified hours. It is essential to consider all these factors and conduct thorough research before engaging with iFOREX.
Is iFOREX Legit？
iFOREX is a regulated broker by the Cyprus Securities and Exchange Commission (CySEC). It operates under the license number 143/11 and is regulated by the regulatory agency in Cyprus. The licensed institution responsible for iFOREX is ICFD Ltd, and its effective date of regulation is May 23, 2011. The broker's website is available at www.iforex.eu, as well as other country-specific domains such as www.iforex.pl, www.iforex.nl, www.iforex.es, www.iforex.fr, www.iforex.it, www.iforex.gr, de.iforex.eu, https://hu.iforex.eu, and https://cz.iforex.eu. The address of the licensed institution is either Corner of Agiou Andreou and Eleftheriou Venizelou Str, Vashiotis Agiou Andreou Bld, 2nd Floor - Office 201, CY-3035 Limassol or P. O. Box 54216, CY-37. The phone number for the licensed institution is +35725204600.
However, it is important to note that there have been some risk alerts and negative feedback regarding iFOREX. According to WikiFX, within the past 3 months, there have been 7 complaints received and 1 negative field survey review for this broker. Additionally, WikiFX mentions that there is no trading software available for this broker. These alerts serve as a cautionary note regarding potential risks or scams associated with iFOREX.
Market Instruments
iFOREX Europe offers a diverse range of over 750 CFD instruments that allow traders to explore opportunities in various global markets. The available market instruments are categorized into different types, including currency pairs CFDs, commodity CFDs, indices CFDs, share CFDs, ETFs CFDs, cryptocurrencies CFDs, and non-leveraged CFDs.
Currency pairs CFDs
Currency pairs CFDs provide traders with the opportunity to invest in a wide selection of currency pairs from around the world. With leverage of up to 30:1 and low spreads, traders can take advantage of market fluctuations and trade in any direction. iFOREX Europe offers informative resources and tools to assist traders in staying updated and making informed decisions.
Commodity CFDs
Commodity CFDs enable traders to invest in popular commodities without the need to physically buy or store them. With a variety of precious metals, energy assets, and agricultural commodities available, traders can benefit from low spreads and utilize advanced trading tools for trading. Daily news and analysis channels are also provided to keep traders informed about market changes.
Indices CFDs
Indices CFDs allow traders to invest in well-known indices, such as the US 30, US 500, and Germany 40, among others. With leverage of up to 20:1, traders can access a wide range of indices from different markets and utilize advanced trading tools for portfolio management.
Share CFDs
Share CFDs offer the opportunity to diversify portfolios by trading shares from various industries and regions. iFOREX Europe provides share CFDs from industries like tech, banking, aviation, and more. Enhanced leverage of 5:1 is available for Japanese, US, and European shares, allowing traders to maximize their trading potential.
ETFs CFDs
ETFs CFDs enable traders to trade a wide variety of Exchange Traded Funds, which track indices, commodities, bonds, or baskets of assets. By trading ETFs, traders can diversify their investments and utilize innovative trading tools for an enhanced trading experience.
Cryptocurrencies CFDs
Cryptocurrencies CFDs allow traders to invest in popular cryptocurrencies such as Bitcoin, Litecoin, and Ripple, among others. Traders can take part in the cryptocurrency market with leverage, access rates, charts, and daily market information to make informed trading decisions.
Non-leveraged CFDs
Non-leveraged CFDs offer traders the opportunity to trade prominent shares and cryptocurrencies without leverage. This type of trading reduces portfolio risk and exposure, making it suitable for medium to long-term investments. Traders can open long positions without paying maintenance or holding fees.
Account Types
iFOREX offers a demo account for traders to practice their trading skills. A demo account is a simulated trading environment where traders can trade with virtual funds without risking real money.
How to Open an Account
To open an account with iFOREX, follow these steps:
Visit the iFOREX website and click on the “Register” button. This will usually be prominently displayed on the homepage.
Fill in the required information on the registration form. You will need to provide your full name, email address, password, and phone number. The phone number should include the appropriate country code.
Once you have filled in all the necessary details, click on the “Start now” button to proceed.
After completing the registration process, you may be required to verify your email address. Check your inbox for a confirmation email from iFOREX and follow the instructions provided to verify your account.
Once your account is verified, you can log in to your iFOREX account using your registered email address and password.
Leverage
iFOREX offers leverage options to its clients, allowing them to trade with amplified exposure to the financial markets. With iFOREX, traders can access leverage up to 400x on a wide range of over 750 assets.
Spreads & Commissions
FOREX offers spreads for cryptocurrencies that can be as low as 0.25%. These spreads refer to the difference between the buying and selling prices of cryptocurrencies on the iFOREX platform.
Bonuses & Promotions
iFOREX offers a range of bonuses and promotions to enhance the trading experience for its users. One of the key offerings is a 100% Welcome Bonus* that is tailored to the individual trading needs of each user. This bonus aims to provide traders with the tools and conditions that best suit their requirements, ensuring a personalized trading experience from the start.
To assist new traders in getting started, iFOREX provides free 1-on-1 training with a trading coach. This personalized training is designed to help traders gain confidence and develop their skills in the financial markets.
iFOREX also offers an Education Package, which provides traders with valuable resources to deepen their understanding of trading. This package includes 1-on-1 training, a comprehensive trader guide, video tutorials, a demo account for practice, educational articles, and more. These resources are intended to equip traders with the knowledge and insights necessary for successful trading.
For traders looking to further enhance their skills, iFOREX offers a Pro Package. This package includes advanced 1-on-1 training, free trading signals, educational articles, and additional features. By providing these advanced tools and resources, iFOREX aims to support traders in taking their trading skills to the next level.
Trading Platforms
iFOREX offers two trading platforms: FXnet and the iFOREX Europe app.
FXnet is a web trading platform that has been tailor-made to address the specific needs and preferences of iFOREX clients. It has been developed and adapted based on client feedback and aims to provide a comprehensive solution. The platform offers a user-friendly interface that can be fully customized to meet individual requirements. It provides access to a wide range of trading tools and features, including charts, market sentiment indicators, and decision-making tools. With FXnet, traders have the option to trade over 750 instruments.
The iFOREX Europe app is a mobile trading platform designed to cater to the needs of traders who prefer to trade on the go. It is compatible with multiple mobile devices and can be downloaded for free from the App Store and Google Play. The app allows users to quickly place trades and monitor their positions in real time. It provides complete access to account information, including wallet balance, equity, and margin details. Additionally, traders can receive market updates and account notifications as they occur.
Trading Tools
iFOREX provides various trading tools to assist traders in making informed decisions.
One of these tools is an economic calendar, which allows traders to stay updated on major market events and news. The calendar is regularly updated and can be filtered to narrow down specific searches.
Another tool offered by iFOREX is the Live Rates feature. This tool provides real-time rates for hundreds of CFD instruments. Traders can monitor price changes across different economies and markets, including shares, commodities, indices, ETFs, currencies, and cryptocurrencies. This information can be valuable in making informed trading decisions.
Additionally, iFOREX offers a news and analysis archive. This tool allows traders to access past news and analysis to stay informed and make well-informed trading decisions. The archive provides a historical record of events and market developments that may have an impact on trading.
Educational Resources
iFOREX provides a range of educational resources to help traders gain insight into the financial markets and improve their trading skills. These resources cover various topics and are suitable for traders of all levels, from beginners to advanced traders. The educational resources are designed to enhance understanding of the global markets, online trading, and the available trading tools.
The basic educational resources offered by iFOREX include articles on topics such as “What is Forex？” and “What is CFD Trading？” These articles provide fundamental knowledge about these trading concepts. Additionally, there are resources explaining concepts like leverage and stop-loss, which are important for risk management in trading. A simple trading example is also provided to help traders understand the practical application of these concepts.
For those looking to expand their knowledge further, iFOREX offers advanced educational resources. These cover topics such as online trading, ETF trading, Bitcoin, cryptocurrency trading, investing in oil, silver and gold trading, commodity trading overview, volatility, market sentiment, and index trading. These resources provide more in-depth information and advanced trading strategies to help traders make informed decisions.
Payment Methods
iFOREX offers a variety of payment methods to facilitate deposits, both online and offline. The available options include Bank Wire, Credit Card, Debit Card, eWallets, and Prepaid Cards. It is important to note that iFOREX does not charge any commission for these transactions, although fees may be applied by the payment service provider.
For users in Jordan, iFOREX accepts Credit/Debit Card payments. They support Visa, Mastercard, American Express, Diners, Discover, and Apple Pay. The available currencies for these cards vary, including USD, EUR, GBP, and JPY. The processing time for these transactions is instant, ensuring prompt funding of your account.
iFOREX also provides the option of using eWallets for payments. They support Neteller, Skrill, paysafecard, Bitcoin, perfectmoney, Digital (Crypto) Wallets, Google Pay, and Voucherry. Again, no additional fees are charged by iFOREX for using these eWallets, but charges may be applied by the payment service provider. The available currencies and maximum amounts may differ depending on the specific eWallet chosen. For example, Neteller supports currencies such as INR, USD, EUR, GBP, and JPY, while Skrill accepts USD, EUR, GBP, JPY, and CHF, with a maximum amount of 10,000 USD.
Lastly, iFOREX offers the option of using Prepaid Cards, specifically paysafecard. Similar to other payment methods, no extra fees are imposed by iFOREX for using prepaid cards. The available currencies for paysafecard include USD, EUR, GBP, and CHF, with a maximum amount of 1,000 USD. The processing time for prepaid card transactions is also instant.
Customer Support
iFOREX provides customer support services to assist users with their inquiries, comments, and requests. The company emphasizes the combination of advanced technology and premium customer support. Contacting iFOREX Europe is described as quick and easy. The availability of customer support is from Monday to Friday, between 04:00-20:00 GMT.
Various contact numbers are provided for different purposes. General inquiries can be made through +357-252-04600, while customer service and technical support have lines at +357-252-04694. Compliance and documentation-related matters can be addressed by calling +357-252-04668. The office address is specified as the Corner of Agiou Andreou & Venizelou Streets, Vashiotos Agiou Andreou Building, Second Floor, P.O.B 54216, Limassol, Cyprus.
For communication through email, different addresses are provided for specific purposes. The general email address is info@iforex.eu. Customer service inquiries can be directed to cs@iforex.eu, technical support to tech@iforex.eu, dealing room-related matters to dealing@iforex.eu, and data protection concerns to dpo@iforex.eu. Affiliates can contact partners@activelyinvesting.com.
European customers are provided with specific phone numbers for different countries, including Austria, France, Germany, Greece, Hungary, Italy, Netherlands, Poland, Romania, Spain, and Sweden. It is worth noting that iFOREX Europe is based in Cyprus and does not have physical presence in the Netherlands, Spain, Hungary, Poland, Austria, Sweden, or Greece.
Conclusion
In conclusion, iFOREX is a regulated broker by the Cyprus Securities and Exchange Commission (CySEC), operating under the license number 143/11. It offers a diverse range of over 750 CFD instruments, including currency pairs, commodities, indices, shares, ETFs, cryptocurrencies, and non-leveraged CFDs. While iFOREX provides various educational resources, trading tools, and payment methods, it is important to note that there have been risk alerts and negative feedback regarding the broker, including complaints and a lack of trading software according to WikiFX. These factors should be taken into consideration when evaluating iFOREX as a potential trading platform.
FAQs
Q: Is iFOREX a legitimate broker？
A: Yes, iFOREX is a regulated broker by the Cyprus Securities and Exchange Commission (CySEC) under license number 143/11. It operates under the supervision of the regulatory agency in Cyprus and is licensed by ICFD Ltd.
Q: What are the available market instruments on iFOREX？
A: iFOREX offers a diverse range of over 750 CFD instruments, including currency pairs, commodities, indices, shares, ETFs, cryptocurrencies, and non-leveraged CFDs.
Q: How can I open an account with iFOREX？
A: To open an account, visit the iFOREX website, click on the “Register” button, fill in the required information such as your full name, email address, password, and phone number, and complete the registration process. Verify your email address and then log in using your registered email and password.
Q: What leverage options are available on iFOREX？
A: iFOREX offers leverage options of up to 400x on a wide range of over 750 assets.
Q: What are the available trading platforms on iFOREX？
A: iFOREX offers two trading platforms: FXnet, a web-based platform that can be customized, and the iFOREX Europe app, a mobile platform for trading on the go.
Q: What trading tools does iFOREX provide？
A: iFOREX provides trading tools such as an economic calendar to stay updated on market events, live rates for real-time pricing information, and a news and analysis archive for historical market information.
Q: What educational resources are available on iFOREX？
A: iFOREX offers a range of educational resources, including articles, guides, video tutorials, a demo account for practice, and advanced trading strategies covering various topics such as Forex, CFD trading, cryptocurrencies, commodities, and more.
Q: What payment methods does iFOREX accept？
A: iFOREX accepts various payment methods, including bank wire, credit/debit cards, eWallets (Neteller, Skrill, etc.), and prepaid cards (paysafecard).
Q: How can I contact iFOREX customer support？
A: iFOREX provides customer support via phone and email. Contact numbers and email addresses are available for general inquiries, customer service, technical support, compliance/documentation matters, and affiliates. The customer support availability is from Monday to Friday, between 04:00-20:00 GMT.
FX4229852634
Egypt
Account 6592080 Where an amount of $520 was deducted from the account in the negative And this amount was deposited from another card after the approval of Mr. Fadi that I make the deposit with another bank card and I obtained his approval for that I traded and lost, deposited and lost, deposited and gained, and withdrew several times, as I deposited the amount of $520 multiple times I was surprised one day that the account was suspended and there is a negative amount of $520 and I cannot trade So I spoke to Mr. Fadi, who doesn't understand anything in his job, and he told me that there is no problem and when I make a deposit, the account ban will be lifted and I can trade on the same day and cancel everything that is on it, which is a negative amount of -520$ And indeed, I deposited a small amount of $59 and I was surprised that $59 was deducted from the amount of $520, leaving a negative amount of $461. Thus, the deposit amount of $59 was deducted from the original amount of $520. I contacted Mr. Fadi and he informed me that the amount of $520 was refunded by the bank through which the deposit was made So how does this happen and how am I being accounted for retroactively on an amount that has been traded on, withdrawn from, and lost from? And the company's terms and policies state that this cannot be done.
Exposure
2024-12-05
Paula1058
Uruguay
They won't let me withdraw. It is not resolved. I still don't receive anything.
Exposure
2024-01-14
Paula1058
Uruguay
300,000 Uruguayan pesos
Exposure
2024-01-14
JavierMaldonado
Spain
You might forgive my lack of knowledge, but I think that cost of iforex forex pairs, is totally acceptable. Just take a look at my favorite pair EUR/USD, 1.1 pips at minimum.
Positive
01-13
Paolo Caputo
Italy
Nice to know that it's not only for beginners, advanced can learn here as well! A lof of different articles with photos to get a better picture and undertsanding.
Positive
2024-12-21
DiogoPereira
Portugal
I remember trading here for a while and I was happy with my moneys safety. It’s not really a capital friendly platform but when you get a grip on the workings you get value for your money.
Positive
2024-11-13
LarsSchneider
Germany
I understand that trading is a risky activity, especially when you're not experienced and want to deal with an unpredictable crypto market. IFOREX has a good choice crypto assets and spreads seem to be fair, matching with cryptomarket bursts. Though, I think trading platform options should be wider, for example, the popular among traders metatrader, on which actually I learned to trade.
Neutral
2024-11-03
IvanPetrov
Bulgaria
It is always good when companies put an effort into creating their own trading platforms. I downloaded the platform from iforex and refilled account with Visa. Variety of tools and you can see live rates right on the website. Still, I am generally cautious when there is something offered as an investment opportunity. Will stick to the trading itself.
Positive
2024-10-28
YashKadakia
India
dunno why but iforex for me is associated with harmony and stability. harmony is in everything out here, it concerns the number of assets as they are kinda balanced in terms of risk level and so on, there are those assets that can be traded with almsot zero risks because of low volatility, at the same time, cryptos are here 😏😏😏 apart from that, it's a stable broker as they've been in the bizz for a long period, several decades in a row without any breaks + overcoming dozens of crisises. i reckon... iforex can be already canonized as the most time-proven firm!!
Positive
2024-10-22
FelixKuhn
Germany
I wasn’t sure about the AI assistant but it is really helpful but also lags.
Neutral
2024-10-07
LuisGómez411
Mexico
So nice to see iForex becoming partners with one of the most famous football clubs in the world and gaining so much acknowledgement. So many years in the market, this company remains as one of the most trusted and solid brokers, still going strong.
Positive
2024-10-06
FX3003379724
South Africa
I started to trade on the real account right away and everything is fine. Quotes are real, number of assets is enough for me and execution is fast. Got no complaints.
Positive
2024-10-04
SandeepSingh
India
Iforex has done an excellent job in displaying its trading terms clearly, and it is easy for everyone to check if this platform is good enough for them. What I want to share is another thing that you can only experience - the payment procedure. They have a solid payment system and iForex processes withdrawals pretty quickly. All my withdrawals went smoothly.
Positive
2024-09-02
AntonioGomes
Portugal
Initially, I thought it accepted only e-wallets, the ones you see on this screenshot from the platform, as a way to deposit your account, but these are only additional methods alongside bank cards and wire transfers. Yeah, it is a bit confusing, but bank cards work as a payment method since I used one to deposit my trading account. I don’t know how e-wallets are a better option, I read many comments about that, but the bank card method worked pretty well for me.
Positive
2024-08-20
RobertK.
Slovakia
I am really learning nowadays, and I decided to take trading seriously. The today's opportunity videos are great tool to learn and observe what is happening like today. Also, the trading expert is nice! Like this trade on gold, I always try to analyze professionals and try to learn about their system, it helps me a lot. Good trading on gold here
Positive
2024-08-13
AndrewBasson
South Africa
I was recommended to use this platform because this is a reliable trading company, a time-proven one and conditions here are the most user-friendly. At least this is something that I found out while chatting on thematic forums. I started to trade here shares, fortunately, there are many of them, from variety of industries and it's awesome. Leverage is too big for me tho', x400 is risky!
Positive
2024-07-31
GerwazyBartkowicz
Poland
Everything available in 1 window. I watch BTC, stocks (usually electic vehicles), majors. When you need to draw, you select a specific graph. Charting instruments are very advanced, the amount of indicators is honestly bigger than in MT4, if you dont do any extra downloads that is. Sell/buy orders are snappy, the whole platform feels quick. Pricing straight is incredible, even for BTC the spread is below $100! EURUSD (easiest to compare) is 1-2 pips, at most..
Positive
2024-07-25
DasrasMathew
India
When I was looking for my first broker, one of criteria was a loyal attitude towards newcomers. That's right, I'm still a beginner and still need some help. I received such help from iFOREX. This broker doesn't just have a loyal attitude towards newcomers. Here I saw special service that helps people like me to start trading. Obviously, this option suits me the most and I opened trading account here. As for the quality of educational resources, it's excellent.
Positive
2024-07-18
Isaiah Keijser
Netherlands
I am quite skeptical about the modernity of this trading platform, it looks a bit outdated, but at the same time it doesn't mean that this factor makes me deduct a point from the rating =) It's just a platform's highlight. Also, that one thing I am thankful to this broker for - Education Center. It came in handy for me when I entered the platform for the first time and even nowadays after a couple of weeks of trading I continue checking some basic courses. It's essential for me to stay in the loop and hone my skills.
Positive
2024-06-16
Carlos Pinto3650
Portugal
A very sophisticated support team. I have had experiences where the support teams keep me hanging for long waiting times and still not provide me with any concrete answers, but herre... they seem to know the broker in and out. I think that they have to go through some serious training before joining the team.
Positive
2024-06-14
Andreas Blom
Sweden
This is me not ‘just saying it’ but I am extremely grateful for the knowledge that has been impacted in me through this platform, it’s literally changed my life.
Positive
2024-06-13
Martin Richter
Germany
This is one of the longest-lasting brokerage companies in the industry, and one must credit their impressive history of providing reliable services. So, it is not a surprise for me at all when I read so many positive reviews about iForex’s reputation. I have been trading on this platform for a pretty long time and can attest that this is a reliable and trustworthy brokerage with some excellent trading conditions. This platform is equally suitable for beginners and advanced traders.
Positive
2024-05-22
Jens Wolf
Germany
I started to work with the iForex only because this broker develops stably, has cool reputation, recognition in the community and in fact it's not so surprising. These guys have been in the industry for several decades and it's impossible to imagine that such a company would put at risk reputation that has been built for such an extensive period. Additionally, I had a talk with their customer support representatives. They helped me to understand what green trading concept stand for and how I could participate in it. They reacted not as promptly as I expected, but anyway they gave me a comprehensive piece of info.
Positive
2024-05-20