26/01/ · Igofx. Igofx trading is generally known as a currency exchange system. The thought is not wrong at all. It is exactly that in broader sense. Foreign exchange markets always decide the standard currency rate and the forex traders follow that and go with their rules 28/05/ · IKO FX is a forex broker. IkoFX offers the MT5 and MetaTrader Mobile forex trading top platforms. blogger.com offers over 25 currency pairs, gold and silver for your personal investment and trading options. Forex Brokers MetaTrader 5. IKO has been deregistered as a Financial Service Provider in New Zealand as of April 18, Contact: support@blogger.com, + 08/04/ · blogger.com Review. · 8 REVIEWS. Updated: Apr 8, · Visit site · Is this your company? IGOFX is a forex broker. IGO FX offers MT4 and MT4 mobile top forex trading platform. blogger.com offers over 25 currency pairs, cfds on stock, binary option, gold and silver for your personal investment and trading options/5(8)
IGOFX Review��: Is IGOFX a Scam or Legit Broker ()
IGOFX is a forex broker located in Vanuatu which aims to be a world-class grade forex company and wants to become a market leader by committing themselves to deliver competitive pricing, reliable trade execution, and innovative trading tools. In this review, we will be looking at what is on offer to see if they live up to these expectations or if they fall short. There are three different account types available, these are the mini account, the standard account, and the premium account.
The base currency must be in USD and it can be leveraged up to The minimum trade size for the account is 0. There are 30 currency pairs and metals available for trading and you can also get a swap-free Islamic version of this account. The account is also required to have USD as a base currency and leverage is now set at as a maximum. The minimum trade size if 1 lot and hedging is igofx review by forex brokers, the same 30 currency pairs and metals are available and just like the mini account, you can have this account as a swap-free version.
The base currency stays at USD and the maximum leverage remains at as a maximum. The minimum trade size is 1 lot and there are 30 currency pairs and metals available to trade. Hedging is allowed and just like the other accounts, if you require a swap-free account, you can have one in this account variant.
IGOFX offers a few different ways to trade however only one of them is based around forex and so we will only be looking at MetaTrader 4, the other platforms such as the Binary Options we will not be concentrating on.
Released in by MetaQuotes Software, it has been around a while, it is stable customizable and full of features to help with your trading and analysis, igofx review by forex brokers. MT4 is compatible with hundreds and thousands of different indicators, expert advisors, signal providers and more.
Millions of people use MT4 for its interactive charts, multiple timeframes, one-click trading, trade copying and more. In terms of accessibility, MT4 is second to none, available as a desktop download, an app for Android and iOS devices and as a WebTrader where you can trade from within your internet browser, igofx review by forex brokers. MetaTrader 4 is a great trading solution to have. Maximum leverage is dependant on the account that you have, if you have a mini account then the maximum leverage would beif you have the standard or premium account then the maximum leverage available to you would be Leverage can be selected when opening up an account, should you wish to change the leverage once an account is already open you will need to get in contact with the customer service team, igofx review by forex brokers, also ensure that there are no open trades when making a leverage change request.
Trade sizes also depend on the account that you are using. The mini account has a minimum trade size of 0. The trades then go up in increments of 0. The standard and premium accounts have a minimum trade size of 1 lot, igofx review by forex brokers is unknown how much each increment is, igofx review by forex brokers, it could be 2 lots as the next trade or it could be 1.
The maximum trade size can be a little confusing, the FAQ on the website states that the maximum trade size you can have is lots, however, the maximum that MT4 can open is lots, either way, that is far too high, we would never recommend opening trades larger than 50 lots, as the bigger a trade becomes the harder it is for the markets and liquidity providers to execute the trades quickly and without any igofx review by forex brokers. There is no mention of any commission on the website so it would appear that there are not any added to any of the accounts, all three accounts use a spread based payment structure that we will be looking at later in this review.
There are swap charges which are either paid or received for holding trades overnight, these can be viewed from within the MetaTrader 4 trading platform. If you opt for a swap-free account then an administration charge will be added to the account instead of interest. This is a major downside to IGOFX, igofx review by forex brokers, the fact that there are only 30 currency pairs and 2 metals to trade, it can leave you with nothing to trade or analyze at times.
Gold and Silver are the two metals which hare also the most popular two. Spreads are the main way that IGOFX makes their money, they add on an additional spread which they then take as profit, igofx review by forex brokers. There is not a stated difference between the accounts but we would expect the higher entry requirement accounts to have slightly lower spreads, however, we can only go on what the website says.
As you can see the pips are relatively high, even for accounts with no commission. It is also important to note that the spreads are variable also known as floatingthis means that they move with the markets, when the markets are being volatile then the spreads will widen and will be seen much higher than the numbers stated. There is not a huge selection of deposit methods and it is disappointing to see so many processors excluded from the list.
We have set out a little list below to give you some basic information on the methods available. It is a shame to see transfer fees added to the deposits if using bank wire transfer be sure to check with your bank to see if there are any added fees from the bank.
The same methods are available to withdraw as they are to deposit, the same information is displayed on the deposit. withdrawal page so we are assuming that all the information posted above is also correct for withdrawals, for clarification this is:. If using bank wire transfer be sure to check with your bank to see if there are any added fees from the bank. IGOFX does not specify how long it takes for them to process a withdrawal but they do provide lead times for each of the withdrawal methods which we have also listed below for ease of reading.
You are required to make a deposit and then trade a certain amount in order to claim and keep the bonus. The terms do not specify what is required to convert the bonus funds into real funds though which is quite important information to know so we can not comment on the terms or how profitable the bonus could be. There are some webinars in the forex tools section of the site, however, the page is blank and there is nothing in the upcoming webinar section so they may not be happening at this moment in time.
There is also an economic calendar that details any upcoming news events and which markets they may effect, there is also a market analysis section however nothing has been added to this section since 12 June so it appears to be dead.
The customer support is available 24 hours a day 5 days a week wand closes over the weekends just as the markets do.
There does not appear to be any phone numbers, just email addresses, there is an email available for the support department as well as the accounting igofx review by forex brokers. It would have been nice to have a way to speak to someone directly, we have tested the email addresses provided but are yet to have a response after 72 hours of waiting. Looking around the site we could not locate any information about demo accounts igofx review by forex brokers it appears there may not be any.
Potential new clients like to use demo accounts to test out the servers and trading conditions offered, current clients like igofx review by forex brokers accounts as a way to test out new trading strategies without risking their own capital. It would be a big boost to IGOFX if they make demo accounts available to their current and potential new clients. Clients from Singapore and the above countries are not accepted to trade Binary Option in IGOFX. IGOFX offers a number of account but the differences between them are not clear, the spreads all appear to be the same and are all far higher than we would expect, even for accounts with no commission.
The fact that some of the website sections have not been updated in a while makes it hard for us to be clear how serious IGOFX is in becoming a leading forex broker. Save my name, email, and website in this browser for the next time I comment. About Us Advertise With Us Contact Us. Forex Academy. Home Forex IGOFX Review. RELATED ARTICLES MORE FROM AUTHOR. FRESHCENT FXprocent Review. How to Master Forex In One Month Or Less. CHAMPION FX Review. LEAVE A REPLY Cancel reply. Please enter your comment!
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ForexTime review 2021 - Is FXTM a Scam (or Legit Broker)
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Detailed information and thorough IGOFX reviews & comments from traders. Pros and Cons of the forex trading platforms. Depth fx analysis before start blogger.comts: All Accounts 26/01/ · Igofx. Igofx trading is generally known as a currency exchange system. The thought is not wrong at all. It is exactly that in broader sense. Foreign exchange markets always decide the standard currency rate and the forex traders follow that and go with their rules IGOFX is probably a decent trading platform. It looks like it is regulated to a well-known organization. While you might be safe investing there, much better choices available for trading in London. We suggest browsing our table of the best Forex broker in London an investing there instead of on blogger.com All of the sites on our list have been tested, and we can confirm that they are safe
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