iForex is a company that offers valuable service to forex traders around the globe. Similar to XTrade and FXCM, they offers numerous features and tight spreads that benefits its customers. However, the platform also provides several disadvantages that makes the service a bit irregular. Discover what these are in this in-depth review.
iForex: What it Offers
Established in 1996, iForex is an online broker that offers various financial products for trading. Ever since its entry to the online world in 2004, it has facilitated hundreds of traders with their transactions involving foreign exchange, commodity spot trading and CFD’s. It is well known in its circles, given they are one of the first to enter the digital world.
Like it similar competitors, XTrade and FXCM, iForex offers several accounts for its prospective clients. They have a standard account that requires a deposit of a cheap and easy 100 dollars. At the same time, they also have a VIP account for their most premium customers. This requires a minimum transaction of 2500 dollars and have a leverage of up to 400:1.
Unlike other companies, IForex does not charge commission for any opening position, an appealing feature for most interested parties.
iForex: What it Features
One of the primary features of iForex is that it has its own trading platform. It’s both web-based and mobile-based, a convenient system that also adopted by the likes of XTrade and FXCM. The platforms offers a customized view of every engagement, the ability to track everything in one screen, one click deals and advanced integrated charts. The integrated charts benefit users with time frame analysis and even historical performance, which equips them to make more informed decisions in the future.
Traders also are provided with the opportunity to access several monitoring options and real-time services, which allow individuals to manage their transactions smoothly. Finally, there are trading signals, which sends the most updated trends.
As far as trading goes, iForex, they have a variety of offers and options, including equities, commodities and indices. For indices, they have numerous reputable companies under their service, including the always dependable Dow Jones and tech companies like Facebook and Apple.
Since they are forex traders, they also offer currencies and binary options. At the same time, they also trade in several metals, such as gold and silver.
iForex: Problems for its Users
Despite the numerous features of iForex, and despite the fact that its capabilities is comparable to that of XTrade and FXCM, there has been some negative feedback from a number of its clients. Contradicting data and information from their platforms has somehow motivated some men and women to engage in a different transaction and experience a substantial loss. There is also some problem with accessing their customer support team for information. There are also reports that the company solicits traders to make deposits.
Despite its flaws, iForex is still worthy of consideration, due to the many benefit it offers. Try it out for yourself and see if you like it.