Hello Guys, I have been watching over this iFOREX thing for past few months and am glad to share my findings with you. However this is just my evaluation about iFOREX and its operations. Therefore the conclusion is up to you.
LEGALITY
Actually iFOREX, which is said to be located in Athens, Greece, is not a subsidiary of Formula Investment House Ltd however iFOREX customer care center guys define FIH Ltd as the mother company of iFOREX). The reality is that the FIH Ltd is the sister company of iFOREX and is the creator of the web-based online trading application used by iFOREX. On the other hand, if you have already got a call from iFOREX customer care center, you might have been informed that iFOREX is a registered company under UK’s Financial Service Authority(FSA). This is also false as none of these companies is registered or had been registered under FSA- UK(you can check it yourself by logging into
https://fsa.gov.uk or clicking on
=https://fsa.gov.uk/ukla/officialMainList.do?view=true==.
You can also check it by clicking on the red color COMODO icon appears bottom right corner on ==https://iforex.com= under contact details there will be nothing.(Or else you can ask them to send a document proof or a link that will back this: definitely they will put the phone down).
*FURTHERMORE IT IS NOT EVEN REGISTERED WITH RBI, INDIA OR WITH ANY OTHER LOCAL OR INTERNATIONAL GOVERNING BODY.
DEPOSIT*
They make all these lies to convince you to deposit money on iFOREX’ account. If you already got a call from them, you should know that THEY ALWAYS ASK TO MAKE THE DEPOSIT USING YOUR CREDIT CARD OR DEBIT CARD.?(Even though there are 6 methods of payment altogether) and the other trick they will use is that you will be asked to try with your debit card as it isn’t sure that it’ll be working.(BE CAREFUL…., these Call center guys are very cunning, and they know that customers can deposit money using debit cards as well though there isn’t a separate option for debit card on Deposit page as credit & debit cards are used in the same way). Moreover if they feel that a customer is on fence(not sure whether to deposit or not) they will tell him that there is a special promotion that he will get a$50 training pack free if he makes the deposit now.(this training pack is only a pdf document with max 15 pages).
LOCATION OF OPERATIONS
The most important thing about iFOREX is the location they are based and operating from. Whenever they call they will tell you that they are calling from their headquarters in Athens, Greece. As per my findings, for Indians and Sri Lankans this isn’t true. The truth is, for Indians they make calls from Sri Lanka from a Sri Lankan call center named Evolve Technologies(Pvt) Ltd. Their SL address is given below. Evolve Technologies(Pvt) Ltd6th floor, Meewella Building, Colombo 04.(Bambalapitiya)Sri Lanka.
For Sri Lankan, they are calling somewhere from India.(If you are an Indian please be keen to find this as it will help to save thousands of Sri Lankans from this fraudulent organization). If you are an Indian citizen, you may also know that most of these call center guys(according to them; training managers) are EITHER INDIAN OR SRI LANKAN AND THERE IS NO SINGLE AGENT WHO IS A GREEK. HOW IT BE POSSIBLE IF THEY ARE CALLING FROM GREECE.(let’s assume that Indians and Sri Lankans are there to assist Indian or Sri Lankan clients; then why almost everyone still communicate in English but not in an Indian or Sri Lankan language. If it is in English, this can also be done by Greeks as most of them can speak English?) The other point is they are always telling that they have an office in Mumbai.(Actually in malad, Mumbai). This is also false as there is no branch office of iFOREX in Mumbai at all.(If someone will have found such in future please be kind to comment.)If you check their advertisement carefully all the ads are casted by models and they are not real traders.(Some of them are present in advertisements of other organizations).
PLEASE BE CONCERNED AS YOU ARE GOING TO BE DEALING WITH YOUR MONEY.