iforex…is this legit?

Posted by Fitz Villafuerte under Investing on November 29, 2012

hello sir fitz,

i always saw an advertisement in your blog about “iforex”.

i want to give it a try.. What can you advice me po about “iforex”?

Is this legit? thank you…




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One Response to “iforex…is this legit?”

  1. Fitz says:

    With iForex, I wouldn’t personally recommend them because they’re based in Greece and the British Virgin Island – which have very loose fiscal regulations.

    They’re not a scam, they’re actually a legally operating forex broker – but it would be hard to deal with them (ie., customer service) since they are not subject to the strict rules that forex brokers based in the U.S. and U.K. have.

    In general, I’d recommend forex brokers based in the U.S. or the U.K. because your money is safer with them because their government has strict standards and regulations for financial services companies there.

    Example, when you withdraw your money, US and UK brokers are required to deposit the money to your local bank account within 3 banking days. Other brokers which are in other countries, can delay the process and take up to a month or more before they finally release your money.

    I hope you understand what I’m saying here. This is actually one of the topics discussed during the forex orientation. I hope you do wait until you are able to attend that before you open a forex account.

    Remember that forex trading is a high risk activity – and you should not go into it without proper knowledge.

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