iForex Pakistan Review - Preferred Forex broker Pakistan 2020iForex Pakistan offers attractive trading conditions - Bonus, Free Demo and Islamic Forex Account
- Offers up to 100% bonus on your first deposit
- iForex complies with international regulators and accepts Pakistan Forex traders
- Forex trading with iForex is legal in Pakistan
- Offers Islamic Forex trading account to traders
- Free demo account for unlimited practice – no deposit required
- Web-based, Android and iOS trading platform
iForex started its operation in 1996 and started offering Forex trading services globally since 2004. Since 2004, iForex Pakistan has made itself one of the best and most reliable companies in the financial trading industry. The company offers direct access to global markets, such as forex, equities, commodities, and indexes, with offices located in several countries.
One of the important features of a Forex broker is its compliance with regulators. iForex complies with BVI FSC (Financial Services Commission) for its global clients. It also complies with European and UK regulators for its operation in European countries.
Is iForex legal in Pakistan?
Yes, it is legal to trade Forex in Pakistan with iForex Broker. iForex is a global Forex broker offering Pakistani Forex traders its excellent services and helping them to succeed in Forex trading. The traders from Pakistan can trade Forex, CFD, and Commodity – Gold, Silver, and Oil, etc. with iForex using its advanced trading platform. However, the Forex traders in Pakistan should keep track of rules and regulations of the Securities & Exchange Commission of Pakistan – SECP while trading Forex.
Is iForex regulated in Pakistan?
No, iForex does not comply with any Pakistan regulatory bodies. It accepts Forex traders from Pakistan under Formula Investment House Ltd., licensed and supervised by the British Virgin Islands’ Financial Services Commission. iForex is in the Financial trading sector for more than 20 years now, and it has earned an excellent reputation with its high standard services. Hence, you can trust iForex in Pakistan, although it doesn’t come under any Pakistan regulators.
The Forex traders from Pakistan can deposit funds using their Visa or Master card Credit/ Debit Cards, Skrill, Neteller, Wire Transfer, and Western Union. These wide ranges of funding methods are an additional advantage for the Pakistani Forex traders.
Can we trust iForex?
iForex is the brand name for Formula Investment House Ltd, an investment firm commissioned by the British Virgin Islands’ (BVI) Financial Services Commission under license no. SIBA/L/13/1060. And has offices in the British Virgin Islands and Cyprus.
iForex does not seem to have an insurance policy in the event of liquidation` or bankruptcy and does not offer guaranteed stop-losses for traders. But the good thing is, the company takes cybersecurity seriously, and it has a protection policy that is stopping a client from losing more than the amount they invest. iForex offers product pricing and services with transparency. The traders can access useful information on platform features, market analysis, and Forex trading education on the company’s website.
Desktop Experience – iForex has an excellent desktop experience with a clear and easy-to-use trading platform. Unlike many brokers, iForex does not offer to trade through the MT4 or MT5 platforms but does have a sufficient web-based trading platform.
With the help of a demo account, traders have the chance to practice; however, they say this is only available after opening a real account. It also appears there are restrictions on how long you can utilize the demo account, but one would need to open a real account to prove this fact.
Mobile Experience – Unlike other brokers in the industry, iForex shows trading sentiment on its mobile app, a quick and easy way for a trader to see which way the market may be leaning. iForex has a fingerprint match identification on its mobile app for extraordinary security measures for traders when opening the app for trading.
iForex also has an exceptional mobile charting package. Which displays the information and several technical studies to help traders in making trading decisions quickly.
iForex Customer Support Pakistan
iForex Pakistan Customer support is outstanding. The customer support team speaks Urdu and helps traders from Pakistan to learn and trade Forex. Online chat is available for both new and existing clients. All clients can reach customer support and technical assistance 24/7 worldwide. Telephone support is also available in many countries like China, Egypt, India, Indonesia, Malaysia, Mexico, Philippines, Russia, South Africa, Switzerland, and the United Arab Emirates. iForex also has an existing Twitter account that assists clients in finding solutions to current issues. Uniquely, iForex offers remote support assistance. Remote assistance enables their support team to connect to the internet, understand the computer screen, and troubleshoot any issues a client may be encountering.
iForex offers varieties of investment products, such as Forex, Indexes, Commodities, Equities, ETFs, and cryptocurrencies. iForex also provides a range of soft commodities for trading, including soybeans, wheat, corn, cocoa, coffee, and cotton.
Research Tools and Insights
The iForex research and insights offering is quite broad. News, analysis, and iForex blog where the topics are covered in detail are in separate sections. The economic calendar section informs traders about an upcoming news event, which may affect the market. iForex in terms of educational product scores correctly. Information for relevant trading products such as CFDs and forex is easy to find. There is also information about technical analysis and some videos that new traders will find very helpful.
Fees and commissions
iForex does not charge trading fees and commissions; it only depends on the trading spread in making profits. iForex is very competitive in offering spread. One advantage of trading with iForex is the low minimum investment of $100 to start trading. Unlike other brokers that sometimes require as much as a $500 initial deposit.
Final Review – iForex Pakistan 2020
iForex is one of the most reliable Forex brokers in Pakistan serving clients for more than 20 years now. It has focused on customer service and Forex trading with low commission or fees. iForex has its custom-built trading platform, which works with great speed on MObile and PCs even with poor data connection of mobile networks in Pakistan. The Forex traders in Pakistan can trust iForex with confidence for their Forex and CFD trading requirements. We recommend iForex as a preferred Forex broker in Pakistan with a high trust and reliability score.
Hence, it is a wise decision to select iForex while looking for Forex brokers in Pakistan.