iForex.com (.in, .hu) Review

3.037 · 146 REVIEWS

Formula Investment House Ltd

Black Pearl Securities Limited

iCFD Limited

Updated: Oct 24, 2021 · Visit site  · Is this your company?

iForex is a forex broker. i Forex offers the Mobile and Web Based trading currency platforms. iForex.com offers over 80 currency pairs, cryptocurrencies, indices, shares, ETFs, gold, silver, commodities and cfds for your personal investment and trading options.

iForex.com (.in, .hu)
Other websites of this company include Vestle.com, Vestle.it.

Broker Details

Minimum Trade Size: 0.015
Maximum Leverage: 400:1
Minimum to Open Live: $100
Established: 1996
Address: 1 Wickham’s Cay, Road Town, Tortola, BVI VG1110, Virgin Islands, British
Contact: info@iforex.com, +30-210-374-2599
Regional offices:
Regulators: BVI FSC #SIBA/L/13/1060
Prohibited countries:
Trading platforms: WebTrader, Mobile Trader
Web Trading: Yes
Mobile Trading: Yes
Currencies: (80+)
Cryptocurrencies: (15+) Bitcoin, Litecoin, Ethereum
CFD: (760+) Gold, Silver, Other Precious Metals, Stocks, Stock Indexes, Oil, Other Commodities
Scalping: Yes
Deposit Methods: Bank Wire, VISA, MasterCard
Withdrawal Methods: Bank Wire, VISA, MasterCard

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3.037 · 146 REVIEWS
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Traders Reviews

Iforex resigned employee,
Mumbai, India / Colombo, Sri Lanka,
May 5, 2013,

I work in this scam for some time and I got thousands of dollers from my fellow Indians..
I can't do it any more.

I quit I forex job
came back to India

I forex is a scam
plat form is is a fraud they control it the way they want it.

Client will never gain always lose (99% lose the money)

Dont get in to this trap

Finally I want to say sorry to my clinets I folled...

Operate from Colombo Sri Lanka (Bamalapitiya )
Mohd Pasha,
Hyderabad, India,
Apr 15, 2013,


its my request to all Indians....pls do not open Account With this Broker...all ads which they are publishing in our indian sites are fake.

Warm regards
Mumbai, India,
Mar 23, 2013,

In forex never you can earn money. It is the game for rich people and who can affort the losses. Indian can not make any success in forex. with $500 or even $1000 you can play for few days but the platform is so confusing due to big players (Central Bank, American and other big private bank in EU and USA) you will be trapped. Now, IFOREX....Don't do trading with iforex because thier pips are high..bonus less and no regulatory authority ...no tips...they try to trap indians by advertisement....forexstreet never recommend this broker firm...
india, India,
Mar 21, 2013,

i lost more then $10000.....don't believe them....iforex will suck your money....their interest to make you bankrupty....be carefull...spread throughout india not to do forex trading with iforex...there are no of good brokers around who gives good tips and bonus....
om prakash ,
india , pune, India,
Mar 13, 2013,

i had started trading with iforex and stopped for few month cuz of my busy shedule and now again i want to start trading with my remain money $ 500 with iforex but i unfortunately i forget my log in password and i am asking them since last 25 days but they are not sending me ...i feel like cheated.....i feel like iforex is cheater.
Hyderabad, India,
Mar 12, 2013,

Within half an hour of Registration in Iforex.com u will receive call from +401100200 person is one of fraud website number who calls u and demands u to deposit $100 US or 5400 INR within the time-span of phone call, he also asks your credit cards, debit card details instantaneously.Never believe like this calls without any prior information about whatever information he "the number" said.
Even the worst scenario is "he" even "scolds" u "when u are not interested in depositing money". Beware.
Ref the Same number information in http://www.consumercourtforum.in/f35/iforex-26566-print/
Ref the Same number information in http://whocalled.net/phone/401100200
Srilanka, Sri Lanka,
Feb 21, 2013,

100% Scam.. don't believe the iforex. it is totally lie...
if any body want more details please contect me..
hmpcstr@gmail.com. don't deposit. mony was lost more then 120,000 RS... they will call u before u deposit money, but if deposited they will never call you..
Saurav Anand,
DELHI, India,
Jan 13, 2013,

I think Iforex must be banned. I deposited nearly USD 2200 and when I wanted my money back ,they were not responding my emails or calls. I had mad profit though but now it seems they are total fraud and I wasted my hard earned money. Can you please help me out to get my hard earned money back.
Colombo, Sri Lanka,
May 22, 2012,

Hello Guys,
I have been watching over this iFOREX thing for past few months and am glad to share my findings with you. However this is just my evaluation about iFOREX and its operations. Therefore the conclusion is up to you.
Actually iFOREX, which is said to be located in Athens, Greece, is not a subsidiary of Formula Investment House Ltd (however iFOREX customer care center guys define FIH Ltd as the mother company of iFOREX). The reality is that the FIH Ltd is the sister company of iFOREX and is the creator of the web-based online trading application used by iFOREX. On the other hand, if you have already got a call from iFOREX customer care center, you might have been informed that iFOREX is a registered company under UK's Financial Service Authority (FSA). This is also false as none of these companies is registered or had been registered under FSA- UK (you can check it yourself by logging into www.fsa.gov.uk or clicking on http://www.fsa.gov.uk/ukla/officialMainList.do?view=true ). You can also check it by clicking on the red color COMODO icon appears bottom right corner on www.iforex.com ; under contact details there will be nothing.(Or else you can ask them to send a document proof or a link that will back this: definitely they will put the phone down).
They make all these lies to convince you to deposit money on iFOREX' account. If you already got a call from them, you should know that THEY ALWAYS ASK TO MAKE THE DEPOSIT USING YOUR CREDIT CARD OR DEBIT CARD...??(Even though there are 6 methods of payment altogether) and the other trick they will use is that you will be asked to try with your debit card as it isn't sure that it'll be working... (BE CAREFUL….,these Call center guys are very cunning, and they know that customers can deposit money using debit cards as well though there isn’t a separate option for debit card on Deposit page as credit & debit cards are used in the same way). Moreover if they feel that a customer is on fence (not sure whether to deposit or not) they will tell him that there is a special promotion that he will get a $50 training pack free if he makes the deposit now.(this training pack is only a pdf document with max 15 pages).
The most important thing about iFOREX is the location they are based and operating from. Whenever they call they will tell you that they are calling from their headquarters in Athens, Greece. As per my findings, for Indians and Sri Lankans this isn’t true. The truth is, for Indians they make calls from Sri Lanka from a Sri Lankan call center named Evolve Technologies (Pvt) Ltd. Their SL address is given below.
Evolve Technologies (Pvt) Ltd
6th floor, Meewella Building,
Colombo 04. (Bambalapitiya)
Sri Lanka.

For Sri Lankan, they are calling somewhere from India. (If you are an Indian please be keen to find this as it will help to save thousands of Sri Lankans from this fraudulent organization). If you are an Indian citizen, you may also know that most of these call center guys (according to them; training managers) are EITHER INDIAN OR SRI LANKAN AND THERE IS NO SINGLE AGENT WHO IS A GREEK. HOW IT BE POSSIBLE IF THEY ARE CALLING FROM GREECE.(let’s assume that Indians and Sri Lankans are there to assist Indian or Sri Lankan clients; then why almost everyone still communicate in English but not in an Indian or Sri Lankan language. If it is in English, this can also be done by Greeks as most of them can speak English??) The other point is they are always telling that they have an office in Mumbai. (Actually in malad, Mumbai). This is also false as there is no branch office of iFOREX in Mumbai at all. (If someone will have found such in future please be kind to comment.)
If you check their advertisement carefully all the ads are casted by models and they are not real traders. (Some of them are present in advertisements of other organizations).
However if you feel that this is not true, you have the option to try it using your money.
Nikhil K,
Bangalore, India,
Mar 26, 2012,

they charge negative swap on Both sides even if you go long or short i feel that they are market makers and i took an eur chf long and they started charging FW PIPS as swaps and that too they were large close too -2PIPS/Day they keep on accumulating. I would like to know if that is legal to charge swaps like this