Saurav 22 Report post Posted May 27, 2012 Has anyone used IFOREX or XFOREX they are giving lot many advertisement on all websites. Any review or feedback Share this post Link to post Share on other sites
hiteshkkk1 327 Report post Posted May 27, 2012 Just one line... Don't go with any if these forex services... These all r not based n india n do lot of mal practices. If u want to trade forex, do it only on indian exchanges I.e nse n mcx-sx. They r reliable n legal. If u need more details, u can pm me n we can exchange phone nos. Sent from my SCH-I500 using Tapatalk 2 Share this post Link to post Share on other sites
Notam 43 Report post Posted May 27, 2012 I second Hitesh view. Go for any Indian Exchages NSE or MCX-SX Share this post Link to post Share on other sites
phonegeek 588 Report post Posted May 27, 2012 (edited) Further to it, I would advice dont go unless you know the product, its very risky and leave aside individuals, banks/corporates have paid heavy price being on wrong foot. Edited May 27, 2012 by phonegeek Share this post Link to post Share on other sites
ipkonfig 10 Report post Posted June 1, 2012 do lot of mal practices. Can you elaborate on the malpractices done by the foreign forex brokers? Share this post Link to post Share on other sites
hiteshkkk1 327 Report post Posted June 1, 2012 Since the trading software if owned by themselves n there is no regulator, they often execute your orders even at rates wher spot rates do not reach, specially stop loss orders.. Also, payment is done through credit card n refunded to card only. Again they convert the currency at their own rates.. Just google for reviews u would find many such n even more other examples... Sent from my SPH-D710 using Tapatalk 2 Share this post Link to post Share on other sites
ipkonfig 10 Report post Posted June 1, 2012 Do you have any particular broker in mind? I mean have you experienced these issues with any real world fx broker when trading with a live account? I have been trading in the FX markets since some time. Never experienced the issues posted by you with my broker (Oanda). And mind you, Oanda is commonly termed as a 'bucket shop' by many so-called 'experts'. The only thing which I do not like about Oanda is the drastic increase in the spread rates (10 - 15 pips) when a major news announcement is taking place. If one knows where to enter and place their stop loss, that too is not an issue after all. Share this post Link to post Share on other sites
hiteshkkk1 327 Report post Posted June 2, 2012 Nope... Hv just read reviews... Had once transferred 100$ but didn't do any trading n got my payout back which took 2 months n lot of documentation. Its better to open ac with nse in India. U can find number of nse brokers offering u currency ac. Sent from my SPH-D710 using Tapatalk 2 Share this post Link to post Share on other sites
ipkonfig 10 Report post Posted June 2, 2012 Oh okay. Share this post Link to post Share on other sites
