iForex Broker Review
If you take a look at the website of iForex, it says it is the trading name of iCFD Ltd, formerly known as iForex Cyprus Ltd, which is part of the iForex Group. The group itself was founded in 1996, by a group of bankers and Forex dealers. However, it wasn’t until much later that a license was granted to iForex by CySEC. 2011, in actual fact. We are often a little suspicious when a broker is part of a larger organisation, especially if it is an organisation that has little information online. But nevertheless, it doesn’t seem to have put many new customers off choosing this broker, and it has become one of the most respected firms in the industry.
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What are the trading options with iForex?
iForex has a lot to offer traders of all different types. so let’s spend a few minutes exploring the options.
Currencies – With iForex you can trade some of the most popular currency pairs, including EUR/USD, GBP/USD, AUD/USD, USD/CAD, NZD/USD, and many others. In fact there are more than 90 currency pairs available 24 hours a day, 5 days a week. A minimum investment is required and leverage is available of up to 400:1.
Commodities – iForex gives traders the opportunity to trade such newsworthy products as oil, gold and silver. All are available from one individual trading account and can be traded in the form of a Spot or CFD. Other commodities available are platinum, coffee, natural gas, soybeans, and corn. Commodity trading can take place commission free, and leverage of up to 400:1 is possible, providing it is permitted by your local regulations.
Indices – A range of global indices are available with the option of using customized leverage. Why not consider trading some of your favourite indices such as US 30, US Tech 100, UK 100, Europe 50, in the form of a CFD? Indices can be traded commission free, and leverage of up to 200:1 is available to maximise your portfolio’s potential.
Shares – Some of the world’s most popular shares can be traded using leverage that will boost your investment by up to 20 times. Popular shares include such well-known companies as Google, Apple, Microsoft, Coca-Cola, and McDonald’s. There is also a great opportunity to receive iForex’s unique 1-on-1 training.
Three trading platforms available that can be customised to your needs
Using the same username and password, traders can choose from three different platforms.
Mobile platform – Trade more than 200 stocks, commodities, currency pairs, and indices. Full access is available to balance sheets, equity and margin details, as well as your wallet. The layout is fully customisable for a user-friendly experience.
FXnet Trader – This is perfect for professional traders as it offers one-click dealing, limit orders, and offers full personalisation to suit individual needs. A download is required, and it can run alongside other programs.
Web Based Platform – No download is required or installation, so you can trade more than 200 tradable instruments directly from your browser.
There are also a number of trading tools available, including:
- Table charts
- Advanced trading signals
- Economic calendar
What does iForex offer that makes them so special?
iForex mention a few interesting offers we thought worthy of sharing. The first is their offer to become an iForex Pro. Traders get to benefit from advanced Forex training, educational materials and tutorials, which are brilliant if you happen to be a beginner. You get use of the mobile trading platform, including advanced signals and charts. And there is an exclusive personal trading account, with its own dedicated account manager and some special bonuses. If you sign up for an account during normal working hours you are invited to benefit from 1-on-1 personal training, and get full access to an iForex e-course.
As an additional benefit for VIP clients there is the chance to take advantage of a diamond package. Simply deposit $5,000 or more and you can enjoy better spreads, receive weekly cashback for every trade you make, get the services of an account manager, and a number of other exciting benefits.
iForex also offer an Islamic account that adheres to Sharia laws in relation to trading. In other words it is an interest-free account.
We have to give iForex a thumbs up, not least for the fact they have such a great array of educational material available. There are a few things which let it down, and the fact there is no demo account is a little off putting. However, if you like the sound of what iForex has to offer, you would be wise to start with the minimum investment, before you place too much capital in your trading account.