Global Broker governance & inquiry App

Score

0123456789
.
0123456789
0123456789
/10

iFOREX

The Virgin Islands|2-5 years|
Suspicious Regulatory License|Suspicious Scope of Business|High potential risk|

https://www.iforexone.in/

Website

Rating Index

Contact

+30 +30-210-374-2599
info@iforex.com
https://www.iforexone.in/
Commerce House Wickhams Cay1 PO Box 3140 Road Town, Tortola British Virgin Islands VG 1110

Licenses

No valid regulatory information, please be aware of the risk!

VPS Standard
No restriction on the broker account. Support service provided by WikiFX

Single Core

1G

40G

Open Now

Contact number

English

+30 +30-210-374-2599

English

+352 00852-30184846

Broker Information

More

Company Name

Formula Investment House Ltd

Company Abbreviation

iFOREX

Platform registered country and region

The Virgin Islands

Company website

Pyramid scheme complaint

Expose

Check whenever you want

Download App for complete information

Warning: Low score, please stay away!
Previous Detection : 2024-03-28
  • It has been verified that this broker currently has no valid regulation. Please be aware of the risk!

WikiFX Verification

Users who viewed iFOREX also viewed..

XM

9.04
Score
10-15 yearsRegulated in AustraliaMarket Making(MM)MT4/5 full license
Official website

GTC

8.15
Score
10-15 yearsRegulated in United KingdomStraight Through Processing(STP)MT4/5 full license
Official website

Sway Markets

7.69
Score
1-2 yearsRegulated in AustraliaAppointed Representative(AR)Self-developed
Official website

FXGT.com

7.62
Score
2-5 yearsRegulated in CyprusMarket Making(MM)MT4/5 full license
Official website
Pyramid scheme complaint
Expose

iFOREX · Company Summary

General Information & Regulation

iForex was founded in 1996 and is part of the iForex Group. While the location of the group headquarters is not specified, the international subsidiary, operated by Formula Investment House Ltd, operates out of the British Virgin Islands (BVI), registered in 2013. iForex (BVI) is not subject to any regulation.

Market Instruments

iForex advertises that traders have access to 943 assets across six categories, including currency pairs, commodities, cryptocurrency, equity CFD, index CFD and ETFs.

Minimum Deposit

The minimum initial deposit required by iForex is only $100, which seems acceptable for most brokers. However, given the fact that this broker is not subject to any regulation, traders are not advised to register real trading accounts here.

Leverage

When trading forex or commodities, leverage up to 1:400 is available while CFDs come with leverage of 1:200. Leverage enables traders to explore sizeable deals using a relatively small investment. However, whilst it can increase potential returns, it can also increase risk and potential losses

Spreads & Commissions

iForex derives its revenues from spreads, the difference between the bid and ask price of a quote. The EUR/USD commences with a minimum cost of 1.8 pips, which is very high by any standard.

Inactivity Fees

A quarterly inactivity fee of $15 exists if the account has been dormant for twelve months.

Trading Platform Available

iFOREX offers a proprietary trading platform, rather than using a third-party interface such as MT4 or MT5. The web-based platform is designed for use on both desktop and mobile devices.

Deposit & Withdrawal

iForex supports bank wires, credit/debit cards, and e-wallets without offering full details. Per information gathered from the support section, CashU, Alipay, Neteller, PayPal, and Skrill are available. iForex notes that no internal costs apply except a fee of $20 for bank wires, while third-party charges will depend on the payment processor. Withdrawals can take up to 28 working days to be processed, which has unsurprisingly led to customer complaints online

Customer Support

Customer service, in English, is available from Monday to Friday between 04:00 and 20:00 GMT. The FAQ section attempts to answer the most common questions, while those in need of more assistance may either call one of the fifteen phone numbers, write an e-mail, or use live chat.

User Reviews

Sort by content

  • Sort by content
  • Sort by time

User comment

2

Comments

Write a review

Dantister
more than one year
Every time I try, I get a message saying 'Withholding tax exceeds the required amount,' even though I haven't had any withholding tax. This has been going on for several months now. It's frustrating and needs to be resolved.
2024-02-27 23:30
Reply
0
0
A19627
more than one year
I invested more than one hundred dollars in iFOREX more than a year ago. I chose it because of its low initial deposit requirements. But I didn't expect that it would not let go of such a small amount! fraud company!
2023-02-23 12:02
Reply
0
0
3
TOP
Select Country/District
United States
※ The content of this website abides with local laws and regulations.
You are visiting the WikiFX website. WikiFX Internet and its mobile products are an enterprise information searching tool for global users. When using WikiFX products, users should consciously abide by the relevant laws and regulations of the country and region where they are located.
consumer hotline:006531290538
Official Email:support@wikifx.com;
Mobile Phone Number:234 706 777 7762;61 449895363
Telegram:+60 103342306
Whatsapp:+852-6613 1970;
License or other information error corrections, please send the information to:qawikifx@gmail.com
Cooperation:fxeyevip@gmail.com