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April 6, 2016

Question:Will iForex cancel my profits when I withdraw? If so, in what occasions?

iFOREX - What's now?

We are no longer promoting iFOREX. The information regarding to iFOREX on the website 'Hercules.Finance' maybe outdated. ref. iFOREX

Answer:

It is not a good review for anyone and brokers, if a broker is cancelling profits of traders.

But there are actually some brokers which cancel  profits of its clients when withdraw.

iForex is not one of them, but may cancel profits if iForex finds unauthorized activity in an account.

Here are some examples of profit cancellation.

Scalping

Generally iForex does not allow scalping trades in its real/live accounts.

Although there may be a rule for being categorized as a scalping trades, iForex may restrict Scalping trades, but not necessarily.

If your trading method is mainly scalping, please contact iForex and find out the condition of scalping trades.

EAs & API

Algorithm tradings using EAs(expert advisers) are not allowed to use in the FXnet Trader.

To use an EA for FXnet Trader, you will need a program compatible with the trading platform, FXnet Trader as iForex does not offer MT4.

But iForex restricts use of EAs so you may not want to try programming an EA for the trading with iForex.

Also, iForex does not allow API trading.

API works as an inter mediator between the trader server and the traders and extract necessarily information for other programs to trade.

If you are algorithm trader, please contact iForex to find out what is the detailed conditions.

Arbitrage

Arbitrage trading is prohibited by many brokers as it is a trading method abusing the system and service.

In this case, the arbitrage includes

  • Arbitrage using swap points
  • Arbitrage using several different accounts
  • Arbitrage to abuse bonus promotions

Arbitrage trading is prohibited by many brokers and iForex may cancel the profits generated upon trading arbitrage at anytime.

Abusing Bonus Promotion

There are several bonus promotions run by iForex though, it is mandatory that you follow the rules of iForex.

All bonus promotions come with conditions, so please read through the T&C before joining any promotions.

Market Maker Model

Brokers with Market Maker model act as a market and hedge the orders by its clients.

That means that the profits of clients are loss of brokers, and this is one of the reasons why some broker restrict many trading methods.

iForex has mentioned that it may act as a broker and also a market maker depending on some situations.

So there may be some restrictions on the tradings by iForex as above.

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