iFOREX Review
A big part of the narrative surrounding cryptocurrency has been the claim that, through bypassing traditional financial intermediaries like banks, it has the power to democratize finance. The IMF, however, believe “there are many reasons to doubt that crypto could democratize finance”, citing the huge amounts of collateral demanded by crypto lending platforms from potential borrowers. Practically, this means that those platforms “won’t help those who lack financial assets to begin with”. Remember also the priority given to larger crypto holders during the 2022 Terra bankruptcy proceedings, which made it clear all crypto owners are not created equal.
One thing that really has helped to democratize finance is the advent of the online trading platform, which happened back in the 1980s. Whereas trading in the financial markets used to be an activity of the privileged few, this is no longer the case. Now, anyone on the globe can download a trading app, connect it to the internet, and trade in the international forex and commodities markets, potentially gathering in robust earnings.
It’s not just the connectivity they offer that matters. Today’s trading platforms are geared up with cutting-edge technology that’s designed to help you follow price trends and act on them promptly. They’re like a toolkit packed so thoughtfully that, once you learn to properly use every item, there’s almost no limit to what you could build with it by your side.
Take a seat for a minute or two because we’d like to take you on a run-through of the features offered on the iFOREX trading platform – one of the best ones around, and the product of years of consultation with professional traders.
Trading Tools
The first thing you’ll get as an iFOREX client is a stream of live quotes for the hundreds of instruments available on the platform. Reliable and timely price data is crucial to your trading prowess, both in terms of planning your deals and monitoring their progress. The app also sends you trading signals to alert you of potential opportunities in the market, and taps you into the dominant market sentiment with its specialized sentiment tool.
iFOREX’s economic calendar will keep you posted about the events that are likely to move prices in the coming week, whether it’s a Fed meeting, a GDP report, or retail data release. Click on the financial news segment to read a selection of the most relevant news of the moment, and take advantage of the brokerages’ own daily market analysis too.
iFOREX kits you out with the most important technical analysis tools. You’ll have the power to make price charts on your own and even plot technical indicators directly on them. If you’re not yet accustomed to using these things, well, iFOREX can help you out with that too, as we’ll presently see.
Educational Resources
iFOREX fosters a culture of education through its multifaceted education center, which presents clients with a generous variety of explanatory articles, both on basic topics (“What is Volatility?” and “Interest Rates”) and on more advanced ones (“What is Fibonacci Trading Strategy?” and “Learn About the MACD Indicator”). Sometimes, though, it just works better when you have someone to explain things to you directly. This is why the app offers a great range of video tutorials that you’ll enjoy watching and learning from.
How about interacting with a real live trading coach? Yes, you can get that at iFOREX too, and it really can give you a boost, especially if you’re interested in taking your skills to a whole new level. Finally, there’s the super-helpful demo account you can use to try things out without any money on the line. Get the feel for the app in this way, and try out your trading strategies under live conditions to see how they work out. You’ll feel more secure, ultimately, when the real trading gets going.
Trading Example
iFOREX is a CFD trading platform. This means it allows you to trade in the price movements of any of its hundreds of instruments, whether they’re going upwards or downwards. The first thing you’ll do is choose your instrument, which could be anything from a commodity like coffee to a company share like Samsung. Decide whether you want it to be a “buy” or “sell” deal, meaning whether you believe prices for the instrument will be heading up or down, respectively. Now, decide on your deal size.
Before settling on it, remember you can take advantage of leverage of up to 400:1 when trading with iFOREX. This means you can take a $750 account balance and turn your deal into one worth $300,000 (400 times $750). Then, a 2% swing in your instrument’s prices in the right direction would score you – not $15 (2% of $750) – but $6,000 (2% of $300,000). This is not too shabby after laying down only $750! Still, you should use leverage with prudence because it also has the power to multiply your losses when prices don’t go your way.
After this, click “Deal” to make your deal live. Monitor it throughout the day with the help of the app, and close it when you see fit. There’s also the option to set stop loss and take profit orders, which will automatically close your deal when certain preset price levels are touched off.
Signing Off
Economist researchers estimate that the online trading industry is due to grow at an annual rate of 6.4%, bringing it to a value of about $13.3 billion in 2026. The reason for the appeal of these nifty gadgets is clear: They empower you by making you the captain over your own portfolio, both in terms of the control they put at your fingertips, and in terms of the spot-on education they supply for captains in the making like you.
When you choose an online brokerage, bear in mind that reputation is vital. A new presence in the industry without a record of regulatory compliance should, at least, raise a question mark in your mind. iFOREX is a regulated brokerage with over 25 years of experience in the business and an unblemished track record of customer service.