Is iForex a scam? What is your experience?

hello everybody… I was just seen an interesting ads on yahoo mail, clicked on it, and it brought me to iForex.com. I signed up and a moment later there was an email explaining a bit about their program. I was interested and replied the email asking a few things. Then the sales gave me a call.

Yes he said that I need to invest $100 first, then my account will be activated and I can use the demo account (with $5000 to practice) for 2 weeks. I will also get a 1 on 1 training with him (which is great as I don’t know anything about forex), and my future account manager will always give advice about my trades. I’m really interested and ready to make the $100 deposit. But I search the net first, got to this thread and other threads on other forums, and now I’m not sure about iForex anymore because most people don’t recommend it although there are still some who are satisfied with iForex.

So my question is, can you recommend any other forex broker that is newbie friendly, and if available, give training to its members?

Thank you very much

Sign up with Oanda any you wont go far wrong.

thank you, just go to the website and yes we can open a demo account without having to pay first. But I think it doesn’t have much guide / training about forex so it’s more for advanced trader.

That’s the hard thing with Forex, learning, best to read this forum for some idea.
But it is more about finding yourself!!!
just go and practice.
Good thing with oanda is there lot sizing. you can trade any amount from 1unit…
10000 unit to a dollar so when you start live you can be extra conservative with your risk!

Number1

Firstly, DO NOT rely on any broker to teach you to trade. I have done many courses and all was a waste of time.

Have you every heard, you can do this or that with this time frame or that time frame, with this indicator or that indicator. bla bla bla.

Ask yourself these questions.

  1. Do you want to sit behind your computer all day long looking at 5min charts to scalp?
  2. Are you working but have time to now and then to monitor a trade during work?
  3. You cant monitor at all but only when you get home?
  4. Does only monitoring your trades every few hours sound like a good way to make a living trading or do you really want to be blinded by sitting at your computer all day.

Now if you want to be a scalper, look for scalping strategies, I highly DONT recommend that. If you want to work, and build a gradual portfolio into a sizable account I HIGHLY recommend PRICE ACTION in the free forex systems by forex school online. Im very quiet in there but they really are the real deal. If you SERIOUS about trading, and you DONT want to waste time getting there, give it a try.

Oh, and they use pepperstone.com NEW YORK close charts that are free and you dont have to deposit anything.

Use it, loose it, abuse it, up to you!

Hi

Even i have been dumped by Iforex recently… they are asking for the scan copy of both sides of my Credit card. how can i withdraw my amount… plz help me…

Hi number1, You can try AVAFX as well. Click here to know its Training Resources

Free Forex Robot about Getting people to Sign Up and get a Download Your Free Forex Robot free Forex robot
Forex robots are software packages that make trades automatically at any time of the day. They do it via application programming interface, which allow them to receive price information from your broker’s website and deliver operating instructions in trading with your account. Running a Forex robot software needs to have a personal computer running in with a full 24-hour Internet connections. It is needed because of the changes in the values of currencies that may occur at any time of the day. Running the software 24-hour of the day enable the software to tract changes at any time of the day, and makes trading on its advantage.

There are possible means of acquiring fires robot software. These include purchasing having your own automated program from a programmer. However, it could be expensive, unless of course if you make it yourself.

Another is to purchase the software from someone who produced it from a profitable method. There are many publishers online offering Forex robots. Choosing the best from various robots would be difficult, especially if you do not know how to figure it out. However, if you finally made a choice on the best Forex robot you find the web, surely you will have a very promising trade.

Make sure that you purchase the right program that will ensure you with successful Forex trading. Check the product first, its feedback, and the publisher before actually purchasing it. Also, check different Forex robots and compare their outputs before you go for one.

Hi,

can u pls contact me. coz i have just joined iforex and not able to contact with them even on mail and over the phone.
every guy just says. he will call me back. ?

pls help

shailesh

they have a number please call this,0905 3160912 her name is Anne and she kept on texting me, but the one sending me email is Jahanah 784 4100 local 3049, I just noticed she is using different names wherytime she is texting or calling me:(

J

unable to contact a broker or having a hard time speaking or getting them to reply email is already a bad sign.

you can try Fxprimus. I never failed to get their response. The best thing is being able to get them on live chat 24 hours a day and get things worked out.

all the best!

Always use a reliable broker. There are a lot of reliable ones out there. The more famous ones are like fxcm, oanda or even ig. The big ones are quite fair. Spreads will differentiate for each broker but they are quite competitive nowadays.

I hope this isn’t considered as advertising by the sie.

I have been in the FX business, in one form or another for twenty five years. I think I have seen just about everything that the market can throw at you.

I decided to open my own brokerage in partnership with some highly reputable investors to give clients all the things that I would want if I were the customer.

We are not brokers in the traditional sense, we are bankers used to managing relationships. We manage the relationship not the transaction. That is a very important distinction.

We are FSA regulated, have high integrity as proven by the reputable organizations we have worked for, our platform while working on variable spreads give the absolute best spread available. We are available 24/7 by phone chat and email.

Our office addresses are available everywhere together with our registered address which is the office of our solicitor.

For security, client service and pricing we KNOW we can offer new or experienced traders the tools they need to make money

Stick to someone reputable, even if you have to pay a bit more for spreads etc, at least you won’t be losing loads of money!

So true. Luckily, I’ve never been scammed. Thank God

Hi!
I’m from Russia, too, has come to us Iforex. This fraudsters and scam. Do not give them your money. Their main office is located in Israel and there is a consultant in several languages​​, they also have an underground office in Russia, who deceives people and proposes the $ 100 deposit. Derzhzhites away from these bastards

Thanks to you all for your feedback, which has helped me take the right decision. :slight_smile:

I would like to add about photocopies of both side of credit card being asked, mentioned in this thread earlier…you may check the link on cybercellmumbai.gov.in - Preventing credit/debit card fraud, from the official website of the Indian Government. It clearly mentions the following:
“Do not provide photocopies of both the sides of the credit card to anyone. The card verification value (CVV) which is required for online transactions is printed on the reverse of the card. Anyone can use the card for online purchases if the information is available with them.”

By the way, now they are calling from Sri Lanka instead of Greece. Also if you notice, the moment you try to register, it asks you to agree to terms and conditions, please read them carefully. Also not having office in India but carrying out business with Indian people is questionable. It is strange that iForex provides passwords which the user cannot modify as pointed out in this thread earlier.

All who are thinking of making quick money should be careful; it’s your hard earned money you will be playing with.

Dear Forumites

Beware of brokers that mostly offer 100% welcome bonus.
They have interior motives. Not all that glitters are gold.
Always check forex brokers reviews.

Best Regards
Paulforex

Sent from my iPhone using BabyPips

I totally agree with your statements!.. I had a sad expericence with this company and lost lots of money to them. Actually, they really do not provide bonuses, which are very important for especially those, who are new for their company, and should be somehow motivated. Assuredly, anyone who understands Forex well, will not trade with this broker, because it becomes obvious for them that the spreads are high… and no promotions occur. My advice would be- stay away !

I agree. They freezed the prices on the platform so I couldn’t know what was the current price, even they didn’t allow me to close a transaction, and they closed it hours later when the pirce had descended. I live in south america and the people in charge were from argentina. Absolute fraud.
Even after that episode they tried to convince that I should visit only the pages they recommend to know the live prices.
Bull**** !!!