iForex includes several notable companies, such as Formula Investment House Limited, which is a fully licensed and supervised investment brokerage in the British Virgin Islands. And it also owns the investment firm iCFD Ltd, which is fully regulated by CySEC (Cypress Securities Exchange Commission).
As one of the world’s leading digital currencies today, Bitcoin has enjoyed robust growth in 2017. Many traders, investors and everyday folks consider BTC to be online cash. As more e-commerce platforms accept Bitcoin, so it’s credibility grows.
Among the many reasons why iForex traders enjoy BTC are the anonymity it provides, the low fees and commissions, extreme volatility (good for generating quick profits), and its user-friendly nature. Since anybody can trade cryptocurrency derivative instruments like BTC at iForex, no purchases of Bitcoin are undertaken. It is simply a trade on the underlying asset’s price movement. Traders forecast the direction of price movement and profit accordingly.
How to get started with Bitcoin Trading at iForex
All traders at iForex must be from a regulated country or jurisdiction. The registration process is free, and requires traders to simply input their full name, email, country and telephone number. Clients will also enjoy a friend referral bonus up to $175, and various fail-safes are available such as negative balance protection program, 128-bit SSL encryption technology, and guaranteed stop loss options. The benefits of trading Bitcoin at iForex is that you get to enjoy exclusive online trading sessions before you engage in real money trading.
Traders have many more benefits at iForex, thanks to the lowered trading volume and Bitcoin spread that is now available to clients. Leverage of 1:20 is offered, and the spread has been reduced to 8 USD (PIP) from 10 USD (PIP). Additionally, iForex has lowered the minimum required trading volume to 0.1 BTC, from 0.5 BTC. All in all, there are hundreds of other financial instruments available to traders, and BTC is one of the most popular. The general asset categories include exchange traded funds, metals, indices, energies, stocks, currency pairs, and commodities. The registration process is free, and the minimum deposit amount is US$100. Once you have logged in to the trading platform, BTC trading will be available 24/7. It’s always best to simulate your trades before you trade for real, that we get to see how the platform works.
What Trading Platforms Are Available for BTC?
There are 2 primary trading platforms available at iForex. The first of these is the web-based trading platform. This is ideal for PC-based traders as well as mobile traders. It offers you a wide range of financial assets, deposit/withdrawal options, trading options and mobile functionality. In total, there are 200 financial instruments available on the web-based platform. It is ironclad with 128-bit SSL technology, with firewall access management. Traders will be able to enjoy a wide range of tools when trading BTC such as an economic calendar, advanced trading signals, and charting options.
The other option is the mobile-only. It also offers a wide range of commodities, indices, currency pairs, and stocks, with quick trade placement and full access to your trading wallets. The swipe to close functionality is ideally suited to BTC trading and it is fully personalized to your requirements. There is a useful demo trading platform which allows you to buy or sell BTC/USD. First of all, you choose you underlying financial instruments (BTC/USD), you choose the deal size starting at $5,000 and going as high as $5 million, and then you click buy or sell.
Deposit and Withdrawal Options
Once you are ready to trade BTC at iForex, you will need to make a deposit into your trading account. Fortunately, several ranking deposit and withdrawal options are accepted, including the following: Western Union, Neteller, wire transfer, Skrill, Visa, MasterCard, Diners Club International. To get started with a deposit, you will need to transfer at least $100. The minimum transaction size for a new account is $2,500, or the equivalent in GBP, CAD, EUR etc. Clients can enjoy leverage on certain options as high as 400:1. Withdrawal options are a little trickier, and rightly so. Clients will need to provide proof of identity before withdrawing funds. The following documents are required: a copy of the front/back of a credit card, or a utility bill/bank statement/mobile account statements/municipal invoice, or a passport/government-issued ID, driver’s license etc. Documents can be uploaded securely or faxed through to the customer support team.
iForex has taken a different approach to educating traders about BTC trading. They keep the trading material light. The simulated trading accounts (demo platform) breaks it down into its bare components – buy or sell options. You simply choose your instrument, select the deal size, and click buy or sell. The broker has opted for animated avatars to assist you with things like hand-in-hand investment decision-making support, solo options, and dive in for those who have experience in personal trading. We like the Bitcoin options provided on-site, and the range of educational materials are a useful accoutrement for traders.