iForex Broker

iForex was established in the year 1996 and is a part of an international group of companies. They started their internet based online trading service only in the year 2004. iForex is a very old player in the forex market but still have not been consistent and also have a very complicated working style when compared to many new companies in the forex market. They have their office in British Virgin Islands and are not a regulated by any regulating authority. The payment can be made using credit or debit cards and wire transfers. The currencies that are allowed in the trader’s account are Euro, Great Britain Pound, Japanese Yen, Swiss Franc and USD. They allow trading in 58 currency pairs which includes all the major pairs and a few exotic pairs as well. They do allow traders from United States to trade from their account. Their website is multilingual and is available in 15 languages and they clearly show features like the account types, the user’s manual and also an elaborate description of the platform and its features.

The demo account offered by the company is limited to 14 days of use and is not for free, the charge is $100. The real trading account also offers Fxnet as the trading platform and is loaded with many great features. Their customer support service is multilingual and is also excellent. They are very friendly and well trained to handle trade related queries of all type. They offer four different types of trading accounts which are Standard, Interest free, Premium and protected. The minimum deposit required to open an account with them is $100. They also provide their traders the facility of scalping. The trading instrument allowed is CFD along with forex and the maximum leverage on the same is 1:400.

If you have selected some companies to start trading and want to know whether it caters to the needs of the customer or not, just go through their reviews posted online by its users. There are many advantages of trading with iForex as listed by the traders and one among them is that they allow hedging and scalping. The minimum deposit required to open an account with them is only $100. IForex provides their customers a professional training manager and is of great help to all especially the novice traders. This is one feature which is liked by the experienced and beginners alike. The other feature that is liked by many traders is that they have a dealing desk and that the maximum leverage on the trading instruments is 1:400. Though the number of payment options is limited the traders find that the deposit and withdrawal of funds are easy and hassle free affair. A few disadvantages of trading with iForex are that they do not provide PAMM account for their traders. The demo account is not free and is also a concern for many traders. The overall review however is positive and the average rating given to the company by its users is 6 out of 10.

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