Trading in various financial instruments such as shares, foreign currency, ETF and commodities has the potential to make a lot of money for the traders but there are a number of factors that determine the overall profitability of a trader. One of the most important factors that matter for a trader is the broker. One of the most well known and reputable brokers that allow trading in ETFs, commodities, forex and shares is iFOREX. This broker is based in London and has been offering its services since 2008.
It is regulated by FCA, ASiC amd CySEC. It is also authorized to offer CFD trading. It is a great platform serves over 1 million clients throughout Europe and Asia. One of the most unique things you will find about iFOREX this is that it has an in-house developed trading platform that makes it very easy for traders who want a no-frills trading platform. Another unique thing about this particular broker is that it is extremely cheap as it is an online brokerage.
Trading Platform
Their trading platform is available in three different versions namely as a web-based trading platform, as a mobile-based trading platform, as well as a downloadable package. All the trading platforms are completely seamless and users can easily switch from one package to another without any issues. Their focus on no-frills trading has allowed them to capture significant market share.
In fact, many traders prefer using their trading platform as it does not suffer from information overload. Their trading platform offers all the required information on the screen and traders are not required to switch between multiple screens to find the information they need.
Demo Account
iFOREX also offers a demo account wherein new users can sign up for a demo account and use virtual money to practice their trading skills. As far as the trading account is concerned, they offer only a single type of trading account wherein users can join and make deposit of a minimum of $100. They also offer a bonus to new traders who open an account with them.
As far as the cost is concerned, they do not charge any commissions but they only make money from limited spread. They are also known for excellent customer service offered through e-mail. Many review websites on the Internet have mentioned that their customer service usually replies to the e-mails within 30 min.
Reliability
One of the most important things that matter for a platform is reliability. As mentioned in the beginning, they are regulated by various well known regulators and are a reliable platform. Also, they currently serve over 1 million clients which means over 1 million clients are happy with the services offered by this brokerage.
iFOREX has a number of advantages over other trading platforms. One of their biggest advantages is that they offer a clutter free interface that allows traders to get all the information they require on just one screen. They are also extremely competitive in terms of fees as they do not charge any commission and only make money from the spreads. They also offer extremely easy withdrawal of money from their trading account to the bank account of the traders.
Overall, they are one of the best choices for brokerage if you’re looking for a low fee brokerage that is well-known for its customer service and easy to use trading platform.
