Yes I know them and I want you as well to know them before you open account with them:
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.
Now I have a very strong feeling that its a complete fraud by a few people who have developed this website. And when you deposit your money with them, they do not trade it rather share it among themselves. Now they show you loosing your money on their site by controlling your trades from back end.
I warn all forex traders to beware of this fraudulent so called forex trader.
And yes I lost more than 2000$ to them.
hey Michael before you open a Forex account I recommend you read a post in ablog that tells you exactly how to choose a broker. I work with eforex and they gave me exactly what they told me they would. I open my account through fx-megaforex, and I am receiving megaforex signals, that they are really helping and thanks to them I and starting to make profit in my account. But remember before you open a Forex account be sure you trust the company and think twice before you open a account just of the offer. Good luck! If you need more help please let me know. Bye
Last edited by Nica; 09-22-2009 at 06:49 PM.