The iforex difference
The foreign exchange market is one of the biggest financial markets in the world. Being the arena where world currencies are traded, it is important to many people because for business entities to conduct foreign trade, the exchange of currencies is essential. Not only is currency exchange important for business, it is also important in the industry of travel and tourism.
One of the foremost forex online trading firms is iforex. It has been a leading forex trading firm since 1996. This means that iforex has experienced some of the major ups and downs of the market in the past two decades. Iforex assures their clients of top-notch customer service. But that is not all. Their rank as a top forex broker is also due to their use of superior technology, and a wide array of trade products to choose from. The iforex internet-based trading platform was unveiled in 2004. This trading platform permits trading in various languages. iforex is duly licensed by the Financial Services Commission of the territory of the British Virgin Islands. It is also authorized and regulated by the Securities and Exchange Commission of the Republic of Cyprus (also called CySec) and the National Bank of Hungary. The websites are also safe platforms to trade, as there is a guaranteed stop-loss program, a negative balance protection program, and an SSL encrypted platform.
Iforex and its Competitors
Are there other online forex trading options other than iForex in the market today? There are actually many other players in the arena. One such company is Plus500. This company is based in Israel, and although it accepts retail customers from other parts of the world, it cannot accept clients from the United States. It has regulated offices in the United Kingdom, Australia, Bulgaria, and Cyprus. The British Financial Conduct Authority regulates and authorizes Plus500. It is duly registered in the London Stock Exchange under the name Plus500 Ltd, under the category Alternative Investment Market.
Available in mobile and web platforms, Xtrade’s battle cry in the market is Loyalty, Innovation, and Integrity. Xtrade is known to be an innovative provider of Contracts of Difference. It offers not only trading on Forex, but also on Shares, Commodities, and Indices. It is also regulated by the CySec, the Australian Securities and Investments Commission, Belize International Financial Services Commission, and the International Financial Services Commission. With Xtrade, clients can trade online anytime and anywhere they are in the world. They could be in Australia, the Americas, Europe, or Asia. It has offices across five continents, and serves markets in 140 countries around the world.
FXCM or Forex Capital Markets is another online foreign exchange broker. It is based in New York, United States, and its financials are audited by Ernst and Young, one of the top-ranked financial auditing firms in the world. The company is duly registered as a Futures Commission Merchant. On top of that, it is also licensed as a Foreign Exchange Dealer for retail transactions. FXCM also has operating subsidiaries worldwide, including the United Kingdom, Australia, France, Italy, and Greece, among other countries. FXCM also has its own online trading platform, but also employs other third-party platforms. It is open for both retail and institutional clients to venture into the international foreign exchange markets.