iBroker has gained a fair amount of traction over the years. Built by traders, for future traders, they have the software necessary for all your needs as a trader. It does not matter if what you want are charts or indicators, or if it’s just ordinary price alerts that concern you: iBroker has got you covered. Read here to learn more about iBroker in our article iBroker Review.
However, today we will be talking about how good the services of this platform are. Are they worth it? Let’s find out today in our iBroker review.
iBroker Review: About iBroker
Before we try to understand the services that iBroker has to provide you with, let’s get some background on them.
iBroker is a trading software, originally developed and owned solely by iBroker Global Markets, SA, SV and FCM. They are headquartered in Madrid, Spain and they have specialized in developing user friendly, robust proprietary software for forex, trading of future, CFDs, and security.
Their software has earned a good amount of traction in their origins, and they are exclusively distributed in only The United States and Canada. They are a private organization that was established in 2011.
There are licensed financial service providers who end up keeping client funds with the company, separately from the company’s actual assets. iBroker is a member of FOGAIN, who are the Investors Compensation Scheme for clients of investment firms in Spain.
This guarantees that their claim remains up to € 100 just in case if a company under regulations goes insolvent.
iBroker Review: Top Features
- User Friendly
iBroker provides traders with an easy to use interface. Usually, it can be difficult to get into the world of trading software. It involves charts, bar graphs and other statistical visualizations that may not be easy for everyone to comprehend. iBroker does this differently and makes it very usable for users, even the beginners.
It matters little whether you are an expert trader when you are using iBroker’s interface for your trading needs. The design is very enthusiastic and intuitive. You can start learning whatever you might not be familiar with quite easily. This does not just about understand what is on the screen, but there is more to it.
Unlike other trading software, iBroker’s user interface is just better for the eyes. The color scheme is made to be visually relaxing and does not contain too much contrast. Moreover, there is little to no complexity in how you will be navigating menus. One of the primary investments of iBroker is in their design of both their software and their website.
You will learn if you go across forums that the mobile application is customized in order to make it best for practice across all platforms. This way, you can be keeping an eye on your trade and business while you are on the go.
- Open for All
iBroker’s services are focused for mobile user’s, and you can create a Demo account and join whenever you want. You will have access to everything you need for free. This will be available to you for just the first 14 days with a demo account. iBroker’s initial deposit is non-exist, but in order to place trades, there is a starting sum, which is € 100.
After the demo period, you will be required to pay iBroker if you want to get real time updates. Else, if you can remain satisfied with their static values for each business day, which will update every 24 hours, you can stick with that plan too. It is however, highly recommended that you get real time update access and get a premium service, for it will be necessary if you want to make it big with your trading.
It makes no difference whether you are an expert trader or just testing the waters. iBroker is open for all and makes trading accessible with their open to all policy. To be an iBroker user, you just have to sign up and start trading. That is all there is to it.
- Supreme Trade Services
Whatever trading functionality you might be expecting, iBroker has got you covered. Starting from Market analysis, limit and stop orders all the way to analytical figures and graphs. You will get whatever you need in order to keep an eye on the market and make orders or cancel them accordingly. It is understandable if you do not have your laptop with you, and thus iBroker has got your back.
iBroker is supreme in this scenario because there are few services such as this who provide a competent application with trading features. Not only that, but it does all that on your mobile device. You will be able to take control of your financial status with just the tap of your button and still be able to understand all that you need to in order to get the best results.
If you are someone who is consistently worried about their profile as a trader that is another sector where iBroker helps. They provide you with the push notifications needed for you to be updated whenever there are big changes or events going on in the market. The world of trading may be complicated but it is simplified quite a bit with the help of the iBroker application, available for Android and iOS.
- Real Time Quotes
All the necessary values will be updated and displayed to you in real time. This is extremely beneficial for you, and you already know this if you are in the trading sector. We will explain regardless, so let’s try to understand why it is.
Suppose you are looking to make some money by buying and then selling off a product at an even higher price. Imagine that you did this with one of the hottest orders in the market, and by the next morning, you got plenty of offers to sell it off at a much higher price than what you bought it at. This is where it gets tricky.
There is always a risk that due to the extremely volatile state of any market, the price of that extremely expensive product drops very drastically. This is a point where you will be unable to make much money with that product. Why? Because, why would other traders want to buy a product off of you that has fallen so much in value? That’s why!
This is when real time quotes and account status comes extremely helpful. You will be getting live quote values with real time updates, along with your account balance. These values will consistently be updating, and as long as you keep an eye on the market, you are likely to make use of it.
In case you do see the price of a stock you bought falling, you can simply sell it off before the drop is too drastic, and voila – you saved yourself from a potential train crash!
- Customizable Charts
You have probably seen all kinds of business software having charts and graphs. These are essential to get a visual understanding of what is exactly going on with a trader’s financial situation. So you want the most accurate representations of charts with iBroker.
That is exactly what you will be getting. Not only that, you will also be able to customize how the charts look These will have a preset for you to use instantly after you have enough data to generate them. You can still change and adjust according to your preferred indicators and settings.
You can adjust the charts for zooming, scrolling and most importantly, the charts can update with real time and show the values that you want, while hiding those that you don’t. This is extremely useful for those of you who want to understand the extra insight that is going on behind the scenes of the trade.
- Alerts and Push Notifications
iBroker monitors the market, and lets you choose what kind of notifications you want. It will not just notify you on purchases and sales, but also update you with custom notifications on price points.
If there is a specific stock you want to buy on which you want a notification after it reaches a particular price, you can do it. This is one of the best features for a trader, as this means they do not have to remain glued to their phones or screens. This lets them relax and stay busy with their own lives until the notification pops.
This way, you can also decide on when you should sell something off against the price of a relevant stock. The market works in very complicated ways, and if you know your basics of the market, you will know that the stock values are all related to one another.
- Available for Mobile Devices
This feature is what probably made you start reading about iBroker in the first place. Unlike every other trading software, iBroker is on phones, both Android and iOS. They are free to download and start using the free demo. Explore all the amazing features that iBroker has to offer on your handheld device without needing to sit down with an additional device just for understanding your trading situation.
iBroker Review Summary:
- Well-regulated broker software that deals with all the complexities of the market
- Allows you to customize charts and analytical graphs for your convenience in trading
- Direct access is provided to the market so you can simply register and start off
- There are a lucrative number of assets offered for you to increase your horizons
- Does not allow you any choice for platforms, such as PC or
- There is not much leverage available for newcomers or newbies in trading
- There is a lack of information available online for beginner traders on iBroker
iBroker Review FAQ:
Is iBroker only available for mobile?
Yes, iBroker is an application exclusively available on mobile. It will satisfy all your needs as a trader. Unfortunately for those of you looking for a Desktop or PC experience, you will be out of luck. This business decision was made by the company to attract more traders who were always on the go and did not have time to sit down with a large machine.
How much commission does iBroker make?
iBroker makes a commission of $7 per round trip. This means that average trading costs can be around 0.9 pips, while other brokers usually can spread it in a range of 1 to 1.5. If you are unfamiliar with pip values, it is strongly advised that you learn up on them before you start investing with iBroker.
How can I receive or send money with iBroker?
At this moment in time, clients of iBroker will be able to use bank wire transfer. They can also make transactions using debit or credit cards as their medium of payment. Future plans of iBroker might also include crypto currency, but there is not much discussion on how soon this will happen.
Is iBroker reliable?
Yes, iBroker is very much reliable and legitimate. They have enough authority figures in their country of origin in Spain. Moreover, they also provide their services in the United States, which means that they have had to go through enough security checks to be considered legitimate.
If you are worried about joining iBroker due to its status of legitimacy, you that you have nothing to be concerned about. Even though they are still a fairly new company, they have gotten enough support behind them to be considered authentic.
To conclude, iBroker is a very well-regulated broker located and founded in Spain. They use the ECN training model to monitor and utilize the stock market. There are many competitive options for trade in forex and CFD, amongst other more advanced options. There are no PC accessibility for iBroker, which may be a deal-breaker for many traders. Invest into iBroker as a casual experience, but make sure that you have other trading ventures running if you are doing it. We hope this article clears your queries about iBroker.
You can also read: Swingtradebot Review