iForex offers Forex currency pairs, Commodities, CFDs and Binary options, and they are all available for trading in one account.
One account type for iForex
iForex offers only one account type, you won’t be able to choose any account types in the process of account opening.
You will just need to register your personal information and select the leverage and base currency, then the account will be opened automatically by iForex for you.
The basic conditions of the account is:
- FXnet Trader
- Leverage up to 1:400
- All symbols are available for trading
- Fixed Spread
- NBP is set
- Stop out level is 0%
How to trade Binary options
As you need to only one account to trade all kinds of symbols, you can find the binary option trading platform by logging into your account.
Binary Option has also got its conditions and it is not an easy&simple investment as it is mentioned so generally.
To Trade Binary Options, you need to:
- Choose a trading instrument
- Choose a direction(call or put)
- Decide the amount
And you will the profit/loss result later on.
No €25 bonus for Binary
For traders in Europe, you can join the €25 non-deposit bonus promotion though, you can not trade Binary options with the bonus amount.
You can trade other financial instruments, but not Binary.
Binary is OTC trading
iForex is a STP and also a OTC broker.
That means that iForex acts as a broker and send the orders directly to the financial market, and sometimes hedge the orders by traders and be a Market Maker.
In case of Binary Options, iForex is the Market Maker where iForex hedge all your positions and there is a conflict of interest in the trading.
This does not mean that iForex will manipulate the prices or interfere the trades, you may want to know that the profit of your trade equals to the loss of iForex.
There are several things that are not allowed on FXnet Trader by iForex, and iForex has specified them in the Terms and Conditions.
The main restrictions are:
- EAs/Algorithm Trading
iForex has the right to cancel profits of clients if the broker finds that a trader is abusing its system or condition by trading with unauthorized method.
If there are any questions regarding to the conditions, please contact iForex support desk directly and find out.