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iBroker Review - Is it scam or safe?

iBroker Review - is ibroker.es scam or good forex broker?

RATING: 2.6 / 1 REVIEWS iBroker
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 Trading Accounts

 

Account type Minimum deposit Minimum trade size Maximum leverage Average Spreads (& Commission)
Standard €100 0.1 1:100 0.2 pips + €3.5/lot*

 

  *Commission (one-way) is calculated per 1 standard lot of 100 000 base units.

 

iBroker offers a single forex trading account with ECN style execution, leverage up to 1:100, and competitive variable spreads on its proprietary web-based platform.

 

The Company. Security of funds

 

Company

Country

Regulation

iBroker Global Markets SV

Spain

CNMV

 

iBroker is e new brokerage, headquartered in Spain, that targets Spanish investors (its website is solely in Spanish language). It offers trading in wide range of financial products, including a number of currency pairs, various CFDs, as well as futures and options on futures. It is also a member of the largest European futures and options market – EUREX exchange.

 

Behind the brand is iBroker Global Markets SV, a company regulated by the Comisión Nacional del Mercado de Valores (CNMV), or the National Securities Market Commission. CNMV is an independent agency but falls under the Ministry of Economy and Finance of Spain.

 

Licensed financial services providers in Spain are required to keep client funds in segregated accounts, separated from the company’s assets.

 

What is more, as Spain is a member of the EU, you can be confident of a basic standard of regulation and MiFID compliance. This European Directive is designed to harmonize regulation for investment services across all member states with the objective of increasing competition and consumer protection. Besides, companies regulated in a Member State are entitled to provide their services across the EU.

 

We also have to point out that iBroker is a member of FOGAIN - the Investors Compensation Scheme for clients of Spanish investment firms, which guarantees their claims up to € 100,000, in case a regulated company becomes insolvent.

 

Trading conditions

 

Minimum initial deposit

iBroker has set no minimum initial amount, however in order to place a trade, you must deposit a certain sum, so one may start trading with EUR 100.

 

Spread and Commission

The cost of trading with iBroker is low and competitive: spread averaged 0.2 pips for the EUR/USD and a commission of $7 round trip. So, average trading costs per lot are around 0.9 pips, while most brokers provide spreads within the range of 1.0 – 1.5 pips for this pair. For further information, you may look up real-time spreads of 15 leading brokers here.

 

Leverage

This broker offers leverage up to 1:100, which is considered a mediocre ratio. A number of brokers offer leverage equal to or even higher than 1:500.

 

Trading platforms

 

If you are accustomed to MetaTrader 4 (MT4), you will not find it with this broker. iBroker offers its clients solely its in-house web-based platform. Mobile apps are also available.

 

 

However, we find the charting of this platform too simplified.  EAs are not supported, however the broker offers a copy trading service.

 

 

Payment methods

 

Clients of iBroker may use bank wire transfer, as well as debit/credit cards as payment methods.

 

Conclusion

 

iBroker is a well-regulated Spanish broker that utilizes ECN trading model. It offers competitive conditions for trading in forex and CFDs, as well as futures and options. However, it offers only one trading platform and account option. There is no PC version, and MT4 is not available Here are, in a nutshell, the advantages and disadvantages with regards to iBroker :

 

Pros Cons
Well-regulated broker No choice of platforms & accounts, no MT4
Low spreads & cost of trading Mediocre leverage available
Direct Market Access provided  
Numerous assets offered  

 

Latest news about iBroker
No news about iBroker . Check back later.
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Traders` reviews for iBroker

Spread

Pros

Cons

 

 

Slippage

Pros

Cons

 

 

Requotes

Pros

Cons

 

 

Price feed

Pros

Cons

 

 

Platform

Pros

Cons

 

 

Deposit/Withdraw

Pros

Cons

 

 

Customer service

Pros

Cons

 

 

Summary

Pros

Cons

 

 

Spam

Every time I open my Reddit these days I find ibrokers app ad multiple times per page.
Seriously?!? If you are that desperate you must be shit! Get off Reddit ibroker, it's not for you and you don't understand it. FYFT! No one likes a spammer and that is all you are.

Mags 06/01/2017
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