These days, all you need to start trading CFDs online is in the palm of your hands, however, if that makes you think trading itself is easy, think again. On the one hand, being able to directly access the world’s financial markets on your smartphone takes away the stuffiness and formality of financial trading, giving you a refreshing sort of freedom.On the other hand, enjoying this power without knowing how to wield it properly could lead you to difficulties. This is why it’s not advisable to choose an online platform that simply functions to connect you, as quickly as possible, to the financial markets. Instead, you’ll want to select a brokerage that aims to build up your education and know-how before anything else. You’ll also want to consider a host of other factors, such as how well the broker accommodates newer traders and its level of client support. In this article, we’ll review iFOREX, one of the CFD brokers that falls into this category, which currently serves millions of clients in 159 countries around the globe, and which has a long history in the business, dating back over 25 years.
iFOREX believes every trader should have access to the vital education that can help them approach CFD trading with knowledge. As such, the platform offers a wide variety of educational materials such as how-to guides that cover—in approachable, easy-to-understand language—anything from basic topics like “What is CFD trading?” or “How to Open Your First CFD Deal” to advanced subjects such as using leverage or employing technical analysis to study candlestick charts. The goal of the platform is to make every step in the process of developing yourself as an online CFD trader as straightforward as possible. There are also clear explanatory articles on commonly used trading concepts and terms, as well as on trading specific instruments like oil or ETFs. iFOREX users even get the chance to go through personal training with a trading coach, in order to smooth out the rough edges of their techniques and strategies. The system is geared to enhance your knowledge in every possible way before you open your first deal.
A Variety of Instruments
When you do start trading, it’s generally advised that you begin with instruments you are familiar with, either from your experience or your research, rather than instruments you know about only superficially. This is why iFOREX presents users with a huge selection of financial instruments to choose from. Your CFD trading can be focussed on commodities like wheat or gasoline, big financial indices like the S&P 500 (US 500) or the German DAX (Germany 40), popular ETFs like Metaverse or US Tech 100 Trust, currency pairs like EUR/USD and USD/JPY, cryptocurrencies like Bitcoin and Ethereum, and famous companies’ shares like Netflix and Samsung. Once you’ve expanded your knowledge of other markets, you’ll have them all ready and waiting at your fingertips. In the meantime, stay with what’s comfortable.
When searching for a CFD broker, only choose those which are regulated. Regulation ensures an official authority is monitoring the activities of your broker, holding them to high standards of conduct and quality. If you deposit your money with an unregulated broker, it’s possible you could find yourself unable to withdraw your own earnings, with nobody to turn to for help. If your broker is regulated, you can always turn to the regulatory authority to intervene. Long story short: don’t take any chances and only trade with a regulated broker.
The Trading Platform
The iFOREX platform has received a lot of praise from financial traders, and one reason is the intuitive simplicity they find in navigating it. iFOREX decided to construct its own personal platform, based on careful consultation with skilled traders, today’s top software technology powers that. It’s made to be understood and used by real people, so the user experience is not overwhelming, and the interface is not crowded with too many options. At the same time, the platform is kitted out with the most useful trading tools available like performance charts, market alerts, trading signals, and technical analysis. Another category of tool that makes a big difference is Risk Management, including within itself Negative Balance Protection (which makes sure you can’t owe your broker more than your account balance), and stop-loss orders (which protect you from falling victim to compound losses).
One thing iFOREX is known for is its human-centric approach to trading, which includes excellent client support and a genuine willingness to help. Customers are able to talk to consultants in the language of their choice and find an attentive listening ear who can help. All in all, the iFOREX experience is suited to anyone who needs to be eased securely and steadily into the world of online CFD trading, and anyone who would appreciate having cheery, attentive assistance available even after he is more established as a trader.