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iFOREX India Review & Opinions: Is it Reliable and Safe in 2021?

3.7 / 5

With so many online CFD brokers to choose from nowadays, it can be difficult to find one that meets all your personal criteria, which should include security, reliability, options, and a high standard of trading conditions. iFOREX is one of the leading names in online CFD trading, but does it live up to the hype? Read the following review to see for yourself.

iFOREX Trading Platform Review

One thing that stands out about iFOREX right at the outset is the fact that it’s been around for over 25 years, operating since 1996, which was well before online CFD trading became a popular way for people to access the financial markets. Over the years, iFOREX has weathered the twists and turns of the fast-moving financial technology industry by tailoring its services and approach to meet the unique needs of its clients everywhere in the world, offering security, reliability, and an excellent experience. Overall, it’s the brand’s knowledge-focused, human approach to providing clients with excellence in all fields, from ease of use to education, that sees iFOREX as one of today’s most trusted and dependable online CFD brokers.

To get a better sense of who iFOREX is and what they offer, let’s take a close-up view of the following:

  • Ease of use/registration
  • How to make deposits and withdrawals
  • Assortment of financial instruments on offer
  • Trading conditions
  • Trading tools and features
  • Type of trader/experience levels that may benefit more from iFOREX

Note that this review has taken into consideration a wide range of elements about the iFOREX brand and testing every aspect—from registering for an account to opening and closing deals—to ensure a well-rounded version of everything on offer.

Let’s begin the review.

Advantages and Disadvantages

Trading with iFOREX has both pros and cons. Here are the most instrumental:
Free education: All clients have access to a wide selection of educational resources at no extra cost.
Demo account: What better way to get the hang of trading CFDs online than to practice opening and closing deals first, without any risk to your funds? That’s exactly what iFOREX’s demo account allows you to do.
Smart trading platform: The iFOREX trading platform, which is available in both desktop and mobile versions, was built from scratch, using a combination of the latest software technology and input from actual traders to ensure an intuitive, easy-to-use experience.
Low deposit minimums: Clients can begin trading with just $100, allowing for a varied audience to make the most of their experience.
Promos and exclusives: iFOREX rewards its clients with an ongoing variety of promotional campaigns including trading bonuses, friend loyalty programs, and much more.
3% interest: iFOREX is one of the only brokers in the industry where clients can earn 3% fixed interest on their equity (between $1,000 and $150,000). Monthly earnings are automatically added to client accounts.
Hassle-free deposits and withdrawals: Deposits can be made via a variety of payment services as well as bank transfer or credit card, and withdrawals can be done simply and easily.
Regulated broker: iFOREX is licensed and supervised by the British Virgin Islands Financial Services Commission, which requires the brand to operate according to high standards of quality and conduct in order to protect client interests.
Limited asset selection: Up against the competition, iFOREX’s selection of financial instruments is relatively smaller, however the brand offers a diverse variety of assets spanning several global markets and regions.
Unable to serve North American residents: At the time of writing, iFOREX does not offer its services to residents of the U.S. or Canada.

Trading Conditions

As a CFD broker, iFOREX enables traders to enter the world’s financial markets and invest in price movements via Contracts For Difference, or CFDs, using an innovative trading platform to open and close deals while employing a number of tools and features designed to help clients make more informed trading decisions. In fact, one of iFOREX’s top priorities is to provide clients with excellent trading conditions that include remarkable client support and an optimal array of options.

Key stats and figures of iFOREX:

  • Available in 100+ countries worldwide
  • More than 8 million clients
  • Over 35,000 daily transactions
  • Offers highest leverage amounts permitted by regulation
  • Competitive spreads
  • Offers services in over 16 languages

Assets

Potential clients at iFOREX will find themselves spoiled for choice with an ever-changing assortment of CFD instruments and stock derivatives on offer, including:

  • Shares of major companies like Coca Cola, Alibaba, Apple, Tesla, and Amazon
  • Commodities including gold, oil, natural gas, wheat and silver
  • Attention-grabbing cryptocurrencies like Bitcoin, Ethereum, Ripple and Litecoin
  • Global indices including US 500, US Tech 100, VIX, Mexico 35, and many more
  • Top-traded forex pairs including USD/JPY, EUR/USD, GBP/EUR, and others
  • Diverse selection of ETFs spanning various global market sectors and industries

Trading Platform

iFOREX’s trading platform is truly one-of-a-kind. Nowadays, it’s common practice for many brokers to utilize the same standard platform structure and personalize it with their own name and logo. iFOREX, however, looked beyond what everybody else was doing and created their own proprietary platform from scratch, using a combination of innovative software technology and input from real clients. The result is a trading platform that gives traders of all experience levels a sleek, streamlined process and all the tools and features they need to make informed trading decisions.

Whether you’re using the desktop or mobile version, finding your way around is easy. The main menu function allows you to quickly complete a variety of functions, from uploading your verification documents to making a deposit or withdrawal to accessing iFOREX’s educational resources center.

One of the most useful features on the platform is the live rates page that’s available for every CFD asset on offer. Here you can stay up to date with prices in real time, as well as research an instrument’s past performance in order to facilitate technical analysis. The iFOREX candlestick charts are fully customizable, giving you the ability to choose which timeframe best suits your trading style, as well as colors, indicators, and more.

Those who use technical analysis in their trading strategies can easily add the overlay of their choice with a tap or click, giving instant insight into the performance of an instrument. And those who veer more toward fundamental analysis can access a variety of features, such as the iFOREX Economic Calendar, which contains an up-to-date listing of important events around the world that may impact market prices.

Mobile Trading

The ability to open and close deals on a smartphone is what draws many people to online CFD trading, however so often, it’s impossible to fit all the functions of a desktop trading platform into the smaller interface of a mobile version. That’s where iFOREX really excels, as the mobile trading platform comes equipped with every feature of its larger counterpart, even the educational resources, should you decide to use some spare time on a commute to brush up on your trading skills. The iFOREX mobile platform is truly made for today’s on-the-go CFD trader, and available for iOS devices on the Apple App Store and for Android devices on the Google Play store.

Demo Account

In the same way that test-driving a car is commonplace before you buy it, iFOREX’s demo account is a great way for prospective clients to become comfortable with the brand’s unique trading platform before starting to open real money deals.

Account Types

iFOREX knows that when it comes to today’s traders, a one-size-fits-all approach simply doesn’t work. To that end, the brand offers a few different account types that are tailored to your individual needs. A simple call with your account manager can help you decide which account type is best.

Opening an Account

iFOREX has made the registration process simple and streamlined to help you get up and running in no time:

  • You’ll begin by setting up your login info with your name and email.
  • Then, to abide by regulatory requirements and ensure security, you’ll be asked to accept the terms and conditions, complete a client questionnaire, and finish the identity verification steps.
  • Finally, you’ll have the chance to make your first deposit, after which you can begin opening and closing CFD deals.

Funds withdrawal

At iFOREX, it only takes a few simple steps to complete a funds withdrawal. Just fill out the required forms, and you can expect bank transfer withdrawals to take 3-5 business days from the date of processing.

Trader training

Regardless of how much previous experience a client might bring, iFOREX provides a wide variety of educational materials to help brush up on the basics as well as cultivate more advanced skills. From trading guides to interactive video tutorials to one of the brand’s hallmark features, 1-on-1 training with a live trading coach, every client can find what they need to trade with confidence.

Should I trade with a iFOREX?

With over 25 years as an industry leader to its name, iFOREX has stood out for its commitment to quality, integrity, transparency, and a client-focused approach. When searching for an online CFD broker, you’re bound to come across many flashy names that are trending at the moment, but constantly innovating and finding ways to meet its clients’ evolving needs has kept iFOREX at the top. When it comes down to choosing a broker you can trust, a broker that can go the distance, iFOREX is definitely at the top of that list.

Reviews on iFOREX

Comments about iFOREX
( 2 )
User rating: 4.4 / 5

Comments: 2

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iFOREX India Review & Opinions: Is it Reliable and Safe in 2021?

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