iFOREX: Simple and Empowering

  • By Learn CFDs

  • February 10, 2024
  • 8:02 am BST

In the old days, if you had suggested to your friends that they try out trading on the financial markets, they would have looked at you as if you had lost your mind. This was a pursuit reserved for professional brokers who worked on the upper floors of tall skyscrapers. If you wanted to avail yourself of their services, you’d have to be ready to fork out a substantial fee. And before you even met the elite gentlemen, you’d have to spend hours researching in the library to find out about your assets and their market. If you wanted to see the company’s financial report, you’d have to order it from them directly, which could take quite a bit of time.

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Modern times may have drawbacks, but they beat the olden days in at least this respect. We enjoy the convenience of accessing oceans of information with high speed and very little effort, using only our electronic devices. Whether it’s finding out about the practice of financial trading in general or the fundamentals of a particular semiconductor company on the stock exchange, you can load up on the data you need while spending barely a penny. As to the fees that used to go to the broker ‘elite’, keep them for yourself because online trading platforms put you in control. After downloading one of these handy apps, you’ll have the power to open and close deals of any size, at the time you want, and with the order types you prefer.

Indeed, the advent of online trading presents us with a valuable opportunity to engage in the financial markets, learn from experience, and take more responsibility for our financial futures. A CFD trading app such as the iFOREX platform brings these conveniences to an even higher level. Here, you can enjoy the option to trade in any of the world’s biggest financial markets, such as the stock, commodities and forex markets, whenever you choose. All these markets appear on one single, powerful app, which is your window to the trillions of dollars changing hands all over the globe daily.

Read on to learn more about trading with iFOREX, and how you should open your first deal. Don’t worry – there’s no need to put on a suit and meet us in a tall, imposing building.

Opening an account

On the iFOREX website, click ‘Register’ and an online registration form will appear. Fill in all the required fields and submit the ID required, and you’ll receive your username and password for future logins. From then on, just click ‘Login’ to access the platform. Before starting to trade, you’ll need to deposit money into your trading account, but there are no fees charged for registering with iFOREX. You can contact the responsive iFOREX team through telephone, email or chat to discuss the types of trading accounts available.

Deposits and withdrawals

iFOREX is committed to transparency and smoothness in all monetary transactions. You can use either online or offline payment methods, depending on your preferences, choosing among options such as bank wire, credit card, debit card and e-wallet. When you want to withdraw your funds, log in and click ‘Withdrawal’ in the ‘My Account’ tab. Fill in the required fields and then print the form with your details that will appear. Sign it and send it off via iFOREX’s secure portal. Your funds should be on their way to your bank account soon.

Opening your deal

Now the main event begins. Select your instrument – which could be WTI Oil, Bitcoin or the EUR/USD – and a deal slip will open. Choose whether you’d like to open a ‘buy’ (long) or ‘sell’ (short) deal on the instrument. Then, decide the size of your deal and how much leverage you’d like to use, if any. Then, simply press ‘Deal’. You could also add a stop loss or take profit order if you want. These orders, respectively, either close your deal automatically when your losses reach a certain point, or when your earnings touch a particular amount. This way, you’re assured that your losses won’t accumulate too much, or that you won’t lose your earnings through waiting too long to claim them.

Signing off

There you have it – a quick and painless course in taking control of your financial future. We cannot stress enough the importance of constantly enhancing your financial education, both generally and specifically, and of steadily developing your trading strategy with the help of the iFOREX Education Centre. The education process literally never ends, so it’s crucial to adopt an attitude of being willing to learn, and to adjust your strategy to your improved understanding, and also to the changing conditions holding sway in the financial markets as the months go by. iFOREX is a great partner for you to choose as you embark on your journey into the markets.