iFOREX Arab has been flagged by Financial Services Authority for "Unregistered/Unlicensed entity offering financial products or services". This company appears in our regulatory warnings database. Always verify with official regulatory sources before investing or doing business with this firm.
After since I opened my account last year with iFOREX Arab I requested to close my account and withdraw. They said I had to complete a 30-day cooling-off period. Then they said there was a minimum holding period for my last deposit. They make it as hard as possible to leave.
Pros: Fast execution|Comprehensive tools
Cons: Minimum deposit could be lower
Customer support at iFOREX Arab seems to be run by people who have never used the platform. Every time I call with an issue, I end up explaining how their own system works before they can help me. It would be funny if my money was not involved.
Pros: Comprehensive tools|Good mobile app|Economic calendar
Cons: Alert system is basic|None so far
After spending for about five months trying to make iFOREX Arab work for me, I have given up. The platform has too many limitations, the fees are not competitive, and the quality of their market data is questionable. There are much better options available.
Pros: Smooth onboarding|Great customer service|Automated trading options|Transparent fees
Cons: Search feature is basic|Mobile app could be improved
If you are reading this considering iFOREX Arab - run. I wish I had read more negative reviews through word of mouth in my investment club. I thought the positive ones were real. Maybe some are. My experience over for roughly four months has been so bad I feel obligated to warn others. Do not make my mistake.
Pros: Good mobile app|Two-factor authentication
Cons: Some tools only available on higher tiers|Alert system is basic
I found this company through a friend who recommended it. Before investing, I checked various regulatory databases and found that iFOREX Arab has been flagged as an unauthorized entity. I informed my friend immediately. Please always verify with official sources - a quick search could save you thousands.
Pros: Website looks legitimate on the surface
Cons: Not registered with regulators|Unrealistic promises