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ImproForex Review

ImproForex Review by professional Forex trading experts the “” FX trading team, Finding out everything you need to know about the broker is in this ImproForex Review.

ImproForex Review

ImproForex is allegedly an ECN forex broker. The trading conditions which the company claims to offer sound attractive, but will be dependent on the quality of the price feed.

The Company. Security of Funds

Company Country Regulation
IMPROFOREX LIMITED Vanuatu VFSC

ImproForex is registered on the island of Vanuatu. The company hodls a license by the local regulatory agency – the VFSC, but this shouldn’t impress you greatly. We generally recommend avoiding dealing with off-shore companies, when possible. This is due to their relatively loose regulatory environment.

Vanuatu has became a hot-spot for shady forex brokers in recent years. This is due to the very low capital requirement, imposed by the VFSC. You can open a forex broker there after proving you have $2,000.

As an example, Australia had a similar problem in the past, as lots of scammers registered there. The local authorities (the Australian Securities and Investments Commission – ASIC) were receiving many complaints and were forced to tighten the rules on forex brokers. Currently, you must have a minimum of AUD 1 million in capital (which most shady companies do not have). Furthermore, client funds must be kept in segregated accounts. This means brokers can not freely access the trading capital, which is deposited with them and spend it.

We have several additional issues with ImproForex (other than the off-shore regulation). The company’s website is missing a few key pages. More importantly, the trading platform is not currently available for download. These issues may be temporary and we will update this review in the future.

Trading Conditions

Minimum Initial Deposit

The minimum initial deposit at ImproForex is $100. This is pretty much a the current industry average, which was unthinkable several years back. That being said some brokers have set the entry barrier even lower, like FXTM, where you can open a cent-account for as low as $5.

While the minimum deposit may be an important factor for beginners, it is worth pointing out It does not impact a broker’s overall credibility.

Average spreads & Commissions

The costs of trading at ImproForex are an interesting point. The company claims to offer an ECN price feed, starting for 0 pips. While this is possible, we couldn’t get their platform running, to verify the claim. This is a bizarre situation, as the offer is good (on paper). We will update this review, once we are able to verify (or deny) their claim. In the meantime, you can compare the spreads provided by some of the world’s top-rated forex brokers at topforexbrokers.com website.

Leverage

ImproForex provides a maximum leverage ratio of 1:400. While this may appear to be a high ratio, other brokers offer even higher levels.

You may not know this, but some industry analysts believe miss-using high leverage is one of the main reasons why most new traders loose money in the markets. Be sure to educate yourself, about the basic principles of margin trading before opening a forex trading account.

Trading Platforms

ImproForex allegedly offers MetaTrader4 (MT4), the world’s leading currency trading platform. Sadly we couldn’t get their platform running, for the purposes of this review.

MT4 by itself is a great platform, of course. It hasn’t earned its popularity without merit. The charting solution offered by this platform is probably one of the best. Basically all technical indicators you can think of are available by default. If by chance anything isn’t, you can probably get it in the MQL Marketplace. This is a broker independent online store, where people can buy, lease and test add-ons for the platform. The most popular tools are new technical indicators and automated systems (or Expert Advisors, as they are known).

Methods of Payment

ImproForex offers quite the variety of payment methods. The more traditional Bank Transfer and Credit/Debit Card are accompanied by e-wallets, such as Skrill, Netteler, Fasapay, Payza and SticPay.

ImproForex is a forex broker, registered in Vanuatu. This immediately lowers their credibility. The company’s website appears to be incomplete. This extends to the trading platform, which we couldn’t download. The trading conditions will be dependent on the ECN price feed. Even if what they claim is true, keep in mind the security of your funds is much more important than saving a few dollars in spreads.

The Broker is not a safe forex broker, Instead you can use Plus500, XM, eToro, Fxpro or AvaTrade forex brokers.

ImproForex Review Conclusion

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