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iFOREX — Forex Broker

iFOREX:

Company: iFOREX
On-line since: 2006
Country of origin: British Virgin Islands
Regulation: Unregulated
Payment options: Bank wire and credit cards
Minimum account size: $100
Minimum lot size: 0.5 lot
Leverage: up to 1:400
Spreads: 3 pips on EUR/USD
Rating:
5.5/10 with 76 votes

Rate broker — iFOREX:
Categories: Forex brokers with web platform
Gold trading brokers
Opinions: See iFOREX reviews.

Advantages:

  • Web and stand-alone trading platforms available

Disadvantages:

  • No Metatrader 4 software support
  • No demo accounts available

Click here to open an account with iFOREX


Reviews:

7 reviews of iFOREX are presented here. All reviews represent only their author's opinion which is not necessarily based on the real facts.


Lucky from India04/14/2010

i am also victim of iForex..Please don't join anyone iForex ..They are really fooling people.You will just loose your money..its fake ..I would suggest don't join any forex site or invest money there ..you will loose and whatever they gives offer it has some hidden secret.they don't tell anyone.After paying your money they never replied via mail they only contact phone.and its trading signal also fake.I have very bad experience with iforex,.its head Eshkol never read customer complain and problem as well as he never reply.


Mark Mest from Belgium03/31/2010

I just read your information above on iForex. My experience is completely different. Main issue is, if you have no idea what Forex Trading is about, offcourse you will loose money!! You need to read the news and learn to trade. In that case you can make a lot of money.

iForex is for sure NOT a SCAM! They are regulated in European Union! You can find it out in their trading agreement and website.

I have good experience with them. Also made money with them.


Jayaprakash from dubai01/04/2010

looking for some info about an authenticated agaent for iforex.


Paresh from Ahmedabad,India12/28/2009

iFOREX_India: Welcome to IForex! Allow me to introduce myself as your chat representative..

iFOREX_India: How may I be of assistance?

Paresh: hi

Paresh: please can u tell me how to invest

Paresh: ??

Paresh: r u thr

iFOREX_India: hi how may i help you

Paresh: tell me how can i invest,min amt requires

iFOREX_India: You need to invest a minimum of $100 (Rs. 5000 approx) to activate you’re a/c, after you activate your a/c, we provide you a practice a/c, 1-1 training to understand how to trade. After you understand how to trade only then you need to start trading with the $ 100 that you have invested, if you feel its too risky after trading on the practice a/c or if you do not want to trade in forex you have the option of withdrawing the $ 100

Paresh: how can i withdraw

Paresh: coz i came to know from dr.modi

Paresh: who is trading with u all

iFOREX_India: i didnt get you

Paresh: can u ask sm1 to call me

Paresh: plz r u with me

iFOREX_India: yes sir

Paresh: when

iFOREX_India: who is your account manager

Paresh: can u tell me dr modi's A/c manager

Paresh: name

Paresh: i didnt recieved any call but i have been referred by dr.modi

iFOREX_India: ok

iFOREX_India: wait i ll check

Paresh: ?

Paresh: r u

iFOREX_India: yes sir

iFOREX_India: i ll arrange call for you

Paresh: call me after 7.30 today

Paresh: where is ur office in india

iFOREX_India: in mumbai

Paresh: whr

iFOREX_India: malad

Paresh: can i get add

iFOREX_India: i m really sorry for that

Paresh: y

Paresh: y cant u give ur details

Paresh: plz

Paresh: coz im trading with alpari

Paresh: and they have off in mumbai

Paresh: BKC

Paresh: ??

Paresh: hello

Paresh: is this the way to deal with ur cst

iFOREX_India: sir i ll get call for you for this

Paresh: cant u tell

iFOREX_India: the address we cant give

Paresh: ok

Paresh: r u regulated

iFOREX_India: see more than 30000 customer are trading with us and they have not any problem till now

Paresh: k

Paresh: but regulater

iFOREX_India: for further details i ll get your account manager to call you

Paresh: ok il c

Paresh: who is ur companys ceo

Paresh: im askng all ths coz i need to know with whom all im dealing

iFOREX_India: yes sir do understand

Paresh: so who is ur ceo

Paresh: ???????/

Paresh: ok who owns ur company

Paresh: r u the

Paresh: thr

Paresh: I will b investng arnd

Paresh: $5000

Paresh: today if u gv me satisfactory answrs

Paresh: ok

Paresh: i got the answr that u all are frauds

Paresh: from many websites

Paresh: thr r blogs

iFOREX_India: wait

Paresh: what

iFOREX_India: Sir, the people who lose their money they say us fraud if you see the market has fallen by 800 pips within a month

Paresh: ok

Paresh: then

iFOREX_India: if you trade properly you will make money, if you don't know to trade ,definitely you lose your money in all the market

Paresh: but the blogs i have seen are on the problms with the withdrawals

Paresh: u might no be refunding d money

iFOREX_India: If the documents are proper they receive their funds within 8 to 10 working days

iFOREX_India: And the blogs can be written by any one even by the competitors, this strategies we dont apply.

Paresh: but y cant u provide me details on regulations

Paresh: i understand it happens only when d company is not proper with assets and investments

iFOREX_India: Sir, if you have gone through the regulations of the market it is totally an unregulated and Over the Counter market.

Paresh: i know d market is but d broker must b regulated

iFOREX_India: Sir, it is not an investment company it is a trading company. The company is known as Formula Investment House ltd.

Paresh: ok its the name but it must be having some regulater

iFOREX_India: yes it is registered in british virgin land greece athens.

Paresh: virgin island and greece r two different cntrys

Paresh: so this is not the valid proof

iFOREX_India: Sir, we can send you the trading agreement which contains all the details related to it. If you agree with all terms and conditions we can proceed further.

Paresh: trading agreement will be between u n me

Paresh: but this cant say that the company is registered smwhr

Paresh: can u tell me any membership number what ur company is having

Paresh: r u getting it

Paresh: i understand that u dont have any thing to say as genuine


Sajan from India10/23/2009

Review on Iforex (iforex.com) – Well it has been reviewed by a lot of victim investors who lost their money to iforex frauds. You do a google search and you will find scores of reviews clearly mentioning that they are fraud and cheating investors. They have no regulation, so you cannot even lodge a complaint against iforex. All you can do is vent your frustrating and anger of losing your money to iforex by reviewing them.

See these testimonies-

babypips.com [http://forums.babypips.com/forextown/28152-iforex-com-scam-what-your-experience.html#post137969 ]

“Do not trust Iforex! I give my personal word on this, I have been following these guys for over a year.”

Actual Review from trade2win.com

"iforex is duping people of their money. I have all the reasons to believe that it is certainly a scam, a fraud.

-When you are making huge profits you wont be able to close your deals.

-They can control the platform from their side

-Your password is provided by them which you can not change

-Their office address in the tutorial they sent via mail is different from that mentioned on their website

-They ask you to send scanned copy of both sides of your credit card(most dangerous thing). No one asks both side of credit card.

-They advertise 2 pips and show 3 pips on the demo, but once you open the trade account and deposit your money with them, they change the spread to 5 pip( this is most irritating)

-Even when someone calls from Greece( as they say it), its always the same person talking in local Mumbai accent.( I doubt that they call from mumbai itself and claim it as Greece)

-The Guy who called from Greece(as he told he did) told me that he gets a commission from my deposits. So he told me to tell iforex guys that he persuaded me to add more deposit( ridiculous and fishy)

-They refuse to give their local address in Mumbai

-There is no regulatory body for Iforex.com

- there are lots of bugs on its platform." ----------------from forexpeacearmy.com [http://www.forexpeacearmy.com/public/review/www.iforex.com]

"Iforex (iforex.com) is cheating people .It is cheating people. Many investors in Asia Pasific region have lost their money to iforex. The company claims to be based in Athens, but in its tutorial documents, it is mentioned to be based in Virgin Islands. Clearly there are a lot of loopholes and evidence of frauds in their way of operations, but unfortunately new investors are just too inexperienced to figure them out."---------------------- from forextopten.com [http://forextopten.com/iforex/comment-page-1/#comment-1428]

"All bullshit…everything lie and fake…iforex dupes people of their money. I do not doubt if everything above is written by iforex people themselves.

Trade with iforex only if you want to lose money.------------------"from compareforexbrokers.com [http://www.forexbrokercomparisons.com/reviews/iforex-broker/ ]


Neeraj from India10/14/2009

Iforex which claims to be a forex broker is a total scam. Though one can find out about their frauds by a google search, if you miss this part you gonna repent all your life. Once you deposit your money with them, you will not get it back and there is nothing you could do about it. Either they will manipulate your trades to show that you lose all your money or they will simply defer each of your withdrawal request indefinitely. They lie a lot. Beware of iforex. They claim they are present in various countries but do not give their addresses. Probably they are scared of victim investors bombing their centre or they just lie about it.


Donatus Williamson from Port-harcourt, Nigeria07/25/2009

I like iforex because if you open a real acc. with them, they will be sending daily forecast in 4 currency pairs for you every day

Their daily forecast is real and if you are an iforex trader, you can make $1000 in a week with $100 initial capital.

The withdrawal is very simple. I wish all the traders can see what I've observed with iforex .

Open a real account with them and try it for one month and compare them with other brokers.

Thanks,

Donatus.



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