IVY Forex Forex Broker provides real users with * positive reviews, 1 neutral reviews and * exposure review!
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I feel very worried that maybe I’ve been scammed by them, made a deposit received loads of calls and now 2 attempts to close and withdraw my funds. Nothing. I’ll welcome some contact.
Ivy Forex has garnered attention in the trading community, but opinions about its legitimacy and operational practices vary widely. This review synthesizes user experiences and expert analyses to provide a comprehensive overview of Ivy Forex, highlighting its strengths and weaknesses.
Note: It is crucial to recognize that Ivy Forex operates under different entities across regions, which may affect regulatory compliance and user experiences. This review aims to present an accurate and fair assessment based on available information.
| Category | Rating (out of 10) |
|---|---|
| Account Conditions | 5 |
| Tools and Resources | 4 |
| Customer Service and Support | 3 |
| Trading Setup | 4 |
| Trustworthiness | 2 |
| User Experience | 3 |
| (Optional) Regulatory Compliance | 1 |
How We Rate Brokers: Ratings are based on user feedback, expert opinions, and factual data regarding services offered.
Founded in 2018, Ivy Forex operates internationally and provides a trading platform primarily based on MetaTrader 4 (MT4) and MetaTrader 5 (MT5). The broker claims to offer a wide range of trading instruments, including forex pairs, commodities, cryptocurrencies, and stocks. However, it is important to note that Ivy Forex operates without substantial regulatory oversight, raising concerns about the safety and security of client funds.
Ivy Forex lacks proper regulatory licensing from recognized authorities, which poses significant risks to traders. According to sources, the broker operates in regions where oversight is minimal or nonexistent, leading to a score of 1 out of 10 in regulatory compliance. This absence of regulation is a critical factor for potential investors to consider, as it can lead to unfavorable trading conditions and limited recourse in case of disputes.
Ivy Forex supports several deposit and withdrawal methods, including credit cards, bank transfers, and popular e-wallets like Skrill and Neteller. The minimum deposit is reported to be around $100, which is relatively low compared to some competitors. However, users have reported significant delays and difficulties in withdrawing their funds, with many expressing frustration over blocked accounts and unresponsive customer support.
The minimum deposit requirement for opening an account with Ivy Forex is $100. This relatively low threshold may attract new traders, but combined with the reported issues regarding withdrawals, it raises concerns about the broker's operational integrity.
There is limited information available regarding bonuses and promotions offered by Ivy Forex. The lack of transparency in this area is typical of brokers operating without proper regulation, which can lead to misunderstandings and disputes over bonus conditions.
Ivy Forex claims to offer a diverse range of tradable assets, including over 50 forex currency pairs, commodities like gold and silver, and several cryptocurrencies, including Bitcoin and Ethereum. However, the quality of execution and the reliability of these instruments have been questioned by users, leading to mixed reviews about the trading experience.
The broker offers spreads starting from 0.2 pips, but users have reported inconsistencies in pricing and execution quality. Additionally, Ivy Forex operates on a commission-free model, which can be appealing to traders; however, the lack of transparency regarding hidden fees and costs has raised concerns.
Ivy Forex offers leverage up to 1:2000, which can be attractive for traders looking to maximize their positions. However, high leverage also increases risk, and traders should exercise caution when using such options.
Ivy Forex primarily utilizes the MT4 and MT5 platforms, which are well-regarded in the trading community for their user-friendly interfaces and advanced charting capabilities. However, users have reported issues with platform stability and execution speed, leading to a less than satisfactory trading experience.
There are no clear indications of specific countries or regions where Ivy Forex restricts trading. However, the lack of regulation may limit their ability to operate in jurisdictions with stringent financial laws.
Customer support appears to be a significant drawback for Ivy Forex, with reports of unresponsive service and unresolved issues. The primary languages for customer support are English and possibly other regional languages, but the effectiveness of this support has been widely criticized.
| Category | Rating (out of 10) |
|---|---|
| Account Conditions | 5 |
| Tools and Resources | 4 |
| Customer Service and Support | 3 |
| Trading Setup | 4 |
| Trustworthiness | 2 |
| User Experience | 3 |
Ivy Forex offers a range of account types with varying minimum deposit requirements. However, the overall conditions are marred by the lack of regulatory oversight, which can lead to unfavorable trading experiences.
The broker provides basic trading tools, but the absence of comprehensive educational resources or advanced tools limits the trading experience for both novice and experienced traders.
Customer service is a significant area of concern, with numerous users reporting difficulties in reaching support and resolving issues. This lack of responsiveness negatively impacts overall user experience.
While the trading setup includes popular platforms like MT4 and MT5, users have reported issues with execution speed and reliability, which can affect trading outcomes.
The absence of regulation and multiple user complaints about fund withdrawals contribute to a low trust rating for Ivy Forex. Traders are advised to exercise extreme caution when considering this broker.
Overall user experience has been rated poorly due to reported difficulties with withdrawals, lack of transparency, and inadequate customer support. Many users have expressed concerns about potential scams and difficulty in accessing their funds.
In conclusion, Ivy Forex presents a mixed bag of offerings, but the significant concerns surrounding its regulatory status and user experiences cannot be overlooked. Potential traders should proceed with caution and consider more established and regulated alternatives in the forex market.
