iFOREX Review
Conclusion
Below, we’ll review the offerings of a broker that was founded back in 1996 – iFOREX – in order to assist you in your search for the platform that suits you.
4.5
iFOREX Review
In the old days, when financial trading was reserved for an elite class of professionals, there was a sense of loneliness and isolation in the air. People felt barred from accessing the wealth held in the markets and condemned to building up their savings in small increments. As economist Thomas Piketty pointed out in his book Capital in the Twenty-First Century, it was only the wealthy who enjoyed the opportunity of taking calculated risks with their savings, helped along by professional money managers. The gap between economic classes was, to some extent, a gap in access to the financial markets.
The new trend that’s changing all this involves “a population that has not traditionally participated in the capital markets and offers them the opportunity to realize the economic rewards of such participation”, in the words of the Boston University Law Review. It’s true that a portion of the retail trading taking place in the last few years has been uninformed, but there’s also evidence that many of today’s online traders have considerable understanding of the markets. Plus, the better trading platforms are geared to improving and streamlining financial literacy, even for clients with little economic background.
Aside from educational materials, it’s important that your platform offers the technological features that sharpen your trading acumen, for instance the ability to draw candlestick charts of your asset’s price history and plot technical indicators on them. Technology is also needed to ensure the security of your funds and personal information.
Below, we’ll review the offerings of a broker that was founded back in 1996 – iFOREX – in order to assist you in your search for the platform that suits you.
Security
iFOREX are officially regulated and licensed, which is essential for any broker in which you place your trust. Unregulated brokers won’t necessarily steal your funds or engage in unethical practices, but the likelihood of encountering these things goes up enormously when you deal with them. Once a fraud has been committed by an entity like this, your chances of receiving proper compensation may be minimal. That’s why it’s crucial to ensure that any candidate for your online trading business exhibits an up-to-date license from a recognized watchdog.
With respect to your personal information, iFOREX protects this by passing it through high-tech encryption services like firewalls and SSL (secure socket layering). It hardly needs to be said that we need to guard ourselves robustly against malicious presences on the internet who seek to get a hold of our private data.
iFOREX also protects their clients from becoming overexposed in the markets. That’s why they offer risk management tools to assist you in trading responsibly. These include stop loss orders, which automatically close your deal when pre-set price levels are touched off, saving you from accumulated losses, but also negative balance protection – a legally binding facility that prevents your trading account from going into a minus.
Client Support
iFOREX pride themselves in providing close customer support by telephone in at least 16 languages. Find the appropriate number for your country by going to the iFOREX website. Over there, you’ll also see the email addresses to use when communicating with the brokerage, who tend to respond quickly to inquiries. If you prefer, there’s also the option of messaging them by online chat. Before using these channels, you might want to read through the support section on the website, where many questions – for instance about the protocol for deposits and withdrawals – are effectively answered.
The iFOREX Platform
iFOREX customers prize the unique functionality of the broker’s home-built trading platform, which was developed in consultation with professional traders and with the benefit of real client feedback. The app is constantly updated to meet the needs of clients as they change and grow. The app’s interface is designed to be intuitively straightforward to use, without the clutter you’ll find on many other platforms. Opening and closing deals, fixing stop loss orders, and employing leverage are very uncomplicated when you trade with iFOREX.
Wrapping Up
Now the official trading partner of the PSV Eindhoven football club, iFOREX is going from strength to strength, with over 8 million people around the world calling the platform home. It’s no wonder, considering the huge array of over 750 tradable instruments – spanning most industries and geographical regions – they make available to clients in the form of CFDs. These include shares, commodities, stock indices, ETFs, cryptocurrencies, and forex pairs, and can be traded with high leverage and tight spreads. Visit the iFOREX website to find out more.