IFIRST Forex Broker provides real users with * positive reviews, 1 neutral reviews and * exposure review!
Business
License
ASIC Revoked 
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In the competitive landscape of forex trading, Ifirst has emerged as a broker that garners mixed reviews. Established in 2018, Ifirst offers trading through the popular MetaTrader 4 platform but has received low scores concerning its trustworthiness and customer support. Users have reported a lack of responsiveness from the support team and concerns regarding the broker's regulatory status.
Note: It is essential to consider that Ifirst operates under different regulatory frameworks depending on the region, which may affect the level of protection for traders. This review aims to provide a balanced perspective based on various sources to ensure fairness and accuracy.
| Category | Score (out of 10) |
|---|---|
| Account Conditions | 4.0 |
| Tools and Resources | 5.5 |
| Customer Service and Support | 3.0 |
| Trading Setup (Experience) | 6.0 |
| Trustworthiness | 2.0 |
| User Experience | 4.5 |
We assess brokers based on user feedback, expert opinions, and factual data.
Ifirst Pty Ltd, based in Australia, was founded in 2018 and primarily offers access to financial markets through the widely used MetaTrader 4 (MT4) platform. The broker provides a range of trading assets, including forex pairs and commodities. However, it has faced scrutiny regarding its regulatory status, as its license from the Australian Securities and Investments Commission (ASIC) has been revoked, raising concerns about its operational legitimacy.
Ifirst operates in Australia but has faced regulatory challenges, particularly with its ASIC license being revoked. As a result, potential clients should be aware of the risks involved when trading with a broker that has lost its regulatory oversight.
Ifirst supports standard fiat currencies for deposits and withdrawals, but there is limited information regarding the acceptance of cryptocurrencies. Users should verify this directly with the broker.
The minimum deposit required to open an account with Ifirst is not explicitly stated in the available resources, which may vary based on the account type.
There is limited information regarding bonuses or promotions offered by Ifirst, indicating a lack of competitive incentives for new traders.
Ifirst primarily focuses on forex trading, offering various currency pairs. However, it appears to have a limited selection of other asset classes compared to more established brokers.
While specific spread values were not detailed, several reviews indicated that Ifirst's trading costs might not be competitive compared to other brokers. Users should inquire about the exact spreads and commissions before trading.
Ifirst offers leverage, but the exact ratios are not clearly defined in the available resources. Traders should approach leverage cautiously, especially given the risks involved in forex trading.
Ifirst exclusively uses MetaTrader 4, which is known for its functionality and user-friendliness. However, the lack of support for newer platforms like MetaTrader 5 may limit trading options for some users.
Due to its regulatory issues, Ifirst may not be available to traders in certain regions. Prospective clients should check the brokers website or contact customer support for specific restrictions.
Customer support at Ifirst is primarily available in Simplified Chinese. However, users have reported long wait times and unresponsive service, which is a significant drawback highlighted in various reviews.
| Category | Score (out of 10) |
|---|---|
| Account Conditions | 4.0 |
| Tools and Resources | 5.5 |
| Customer Service and Support | 3.0 |
| Trading Setup (Experience) | 6.0 |
| Trustworthiness | 2.0 |
| User Experience | 4.5 |
Account Conditions (4.0): Users have reported mixed experiences regarding account setup and maintenance. The absence of transparency regarding minimum deposits and fees is a concern.
Tools and Resources (5.5): The availability of the MT4 platform is a plus, offering various tools for analysis. However, the lack of advanced features and newer platforms like MT5 limits the trading experience.
Customer Service and Support (3.0): Numerous reviews indicate that customer support is lacking, with users experiencing delays in response times and unaddressed inquiries. This is a critical area for improvement.
Trading Setup (Experience) (6.0): While the MT4 platform is well-regarded, the overall trading experience is hampered by the broker's regulatory issues and customer service shortcomings.
Trustworthiness (2.0): The revocation of its ASIC license poses significant risks for traders. Users are advised to exercise caution and conduct thorough research before engaging with Ifirst.
User Experience (4.5): The user interface of the MT4 platform is generally user-friendly, but the overall experience is affected by the broker's regulatory status and customer support issues.
In summary, Ifirst review highlights several critical areas where the broker falls short, particularly concerning trustworthiness and customer service. While it offers a familiar trading platform in MT4, the lack of regulatory oversight and mixed user experiences suggest that potential clients should proceed with caution when considering this broker for their trading needs.
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