IVY Forex
Pros and Cons
Pros
- Supports popular trading platforms: MetaTrader 4 and MetaTrader 5
- Diverse range of trading instruments: forex, commodities, indices, stocks, cryptocurrencies
- User-friendly account types: Retail and Demo accounts available
- Access to customer support through email, live chat, and phone
- Flexible deposit and withdrawal options including bank transfer and e-wallets
Cons
- Not regulated by any recognized financial authority
- Potential risks associated with unregulated trading environment
- Lack of investor protection mechanisms
- Withdrawal fees may apply depending on payment method
- No advanced educational resources or market analysis tools
Basic Information
User Reviews
IVY Forex Overview
IVY Forex is a forex broker founded in the United Kingdom, operating for a period of 5 to 10 years under the full name IVY Forex International. As a broker, it provides trading services in the forex market and is committed to offering its clients a platform for currency trading. However, it is important to note that IVY Forex is not regulated by any reputable financial authority, which may pose certain risks for traders seeking a secure trading environment. The lack of regulation means potential clients should exercise caution and conduct thorough research before engaging with the broker’s services.
In terms of its offerings, IVY Forex provides a range of trading instruments, primarily focusing on forex. The broker supports popular trading platforms such as MetaTrader 4 and MetaTrader 5, known for their user-friendly interfaces and robust trading features. Customer support is available, although specifics regarding availability and responsiveness are not detailed in the provided information. While IVY Forex may present some advantages in terms of trading tools and platform capabilities, the absence of regulatory oversight is a significant consideration for potential traders looking for a trustworthy forex broker.
Is IVY Forex Safe? Regulation Analysis
Regulatory Information
| Regulatory Authority | Country/Region | Fund Protection Measures |
|---|---|---|
| Not Regulated | United Kingdom | None |
Is IVY Forex Regulated and How Are Client Funds Protected?
IVY Forex is not regulated by any recognized financial authority. This lack of regulation indicates that there are no official oversight mechanisms in place to protect client funds. Traders may face significant risks when trading with an unregulated broker, including the absence of investor protection and a higher potential for fraud. Therefore, potential clients should consider these factors carefully before engaging with IVY Forex.
Trading Products and Services
What trading instruments does IVY Forex offer?
| Asset Category | Available Products | Total Count (if available) |
|---|---|---|
| Forex | Major Pairs / Examples | Varies |
| Commodities | Gold, Oil | Varies |
| Indices | S&P 500, NASDAQ | Varies |
| Stocks | US, UK | Varies |
| Cryptocurrencies | BTC, ETH | Varies |
IVY Forex offers a diverse range of trading tools that cater to various trader needs, primarily focusing on the forex market. With multiple asset categories including forex, commodities, indices, stocks, and cryptocurrencies, traders can explore various markets and develop tailored trading strategies. This variety supports both beginners looking to gain experience and seasoned professionals seeking advanced trading opportunities.
The availability of various trading instruments allows users to diversify their portfolios effectively, accommodating different trading styles and risk appetites. By supporting multiple asset classes, IVY Forex enhances flexibility for traders, making it a suitable choice for those aiming to adapt their strategies in a dynamic market environment.
Account Types and Trading Conditions
What Account Types and Fees Does IVY Forex Offer?
| Account Type | Target User Group | Essential Characteristics | Applicability Notes |
|---|---|---|---|
| Retail Account | Beginners | User-friendly interface, access to basic trading tools | Suitable for small-capital practice |
| Professional Account | Experienced Traders | Higher leverage options, advanced trading features | Requires trading volume qualifications |
| Demo Account | All Traders | Practice trading without risk, simulated market environment | No capital requirement, ideal for testing strategies |
Account Opening Process
To open an account with IVY Forex, potential clients need to follow several steps. First, they must submit personal information, which includes full name, contact details, and date of birth. Next, employment and financial information are required to assess the trader’s background. Identity verification is a crucial step, necessitating the submission of a government-issued ID and proof of address. After completing these steps, traders can enjoy the flexibility of upgrading to a professional account later if they meet the necessary criteria.
Trading Fees
| Product | Spread (pips) | Commission | Notes |
|---|---|---|---|
| Forex (Major Pairs) | Varies | $0 | Tight spreads for major currency pairs |
| Forex (Minor Pairs) | Varies | $0 | Competitive pricing |
| CFDs (Stocks) | Varies | $0 | Access to various international stocks |
| CFDs (Indices) | Varies | $0 | Includes popular indices like S&P 500 |
| CFDs (Commodities) | Varies | $0 | Includes gold and oil trading |
| Cryptocurrencies | Varies | $0 | Access to major cryptocurrencies |
Other Fees
IVY Forex may impose various fees associated with account activities. Deposit and withdrawal fees can apply, depending on the chosen payment method. Inactivity fees may be charged if there is no trading activity over a specified period. Additionally, if applicable, platform usage fees could be incurred. Traders should also be aware of overnight interest (swap rates) for positions held beyond a trading day and possible currency conversion fees when trading in different currencies.
Trading Platforms and Apps
What Trading Platforms and Apps Does IVY Forex Offer for Traders?
| Platform | Device Support | Key Features | Additional Services |
|---|---|---|---|
| MetaTrader 4 (MT4) | Windows, macOS, iOS, Android | Two-factor authentication, multiple order types, price alerts, technical indicators | Demo accounts, VPS |
| MetaTrader 5 (MT5) | Windows, macOS, iOS, Android | Enhanced security features, market depth, economic calendar, one-click trading | Demo accounts, VPS |
| Web Version | Any device with internet browser | Encryption, symbol lookup, price alerts | None |
| Mobile App | iOS, Android | Secure login, push notifications, quick order execution | None |
IVY Forex offers robust trading platforms like MetaTrader 4 and MetaTrader 5, which cater to both novice and experienced traders. MT4 is known for its user-friendly interface and essential trading features, while MT5 provides advanced tools for those who require deeper market analysis and trading strategies. The web version allows traders to access their accounts from any device with a browser, providing flexibility. The mobile app enhances trading convenience with secure logins, fast execution, and real-time alerts, ensuring traders can stay connected and responsive to market changes.
Deposit and Withdrawal
Deposit and Withdrawal Options
| Payment Method | Processing Time | Fees | Limits | Base Currency Options |
|---|---|---|---|---|
| Bank Transfer | 3–5 days | No platform fee | Min 100, Max 10,000 | GBP, EUR, USD |
| Credit/Debit Card | Instant | No platform fee, 2% processing fee | Min 50, Max 5,000 | GBP, EUR, USD |
| e-Wallet (e.g., Skrill, Neteller) | Instant | No platform fee, 1.5% charge | Min 50, Max 10,000 | GBP, EUR, USD |
Minimum Deposit
The minimum deposit requirement for IVY Forex is typically $50, though this may vary by payment method and account type. For example, users depositing via bank transfer may have a higher minimum limit compared to those using e-wallets.
How to Withdraw
- Log in to your IVY Forex account.
- Navigate to the ‘Withdrawal’ section of the platform.
- Select your preferred withdrawal method.
- Enter the withdrawal amount within the limits.
- Confirm your request and wait for processing.
Customer Support
IVY Forex Customer Support Overview
Support Channels
IVY Forex provides several contact methods for customer support, ensuring that clients can seek help conveniently. These channels include:
- Email: Clients can reach out via email for assistance with their inquiries.
- Live Chat: The live chat feature allows for real-time communication with support representatives.
- Telephone: Customers can also contact support directly via phone for urgent matters.
- Social Media: IVY Forex may use social media platforms to engage with clients and provide updates.
Service Availability
Customer support at IVY Forex is available during business hours, typically 24/5, ensuring assistance is accessible to clients throughout the trading week. While specific language support details are not provided, clients may inquire about multilingual support options when contacting the support team.
Frequently Asked Questions
IVY Forex is not regulated by any recognized financial authority, which means there are no official oversight mechanisms in place to protect client funds. Potential clients should consider this lack of regulation carefully before engaging with the broker’s services.
IVY Forex offers a diverse range of trading instruments, primarily focusing on forex, commodities, indices, stocks, and cryptocurrencies. This variety allows traders to explore different markets and develop tailored trading strategies.
IVY Forex offers several account types including a Retail Account suitable for beginners, a Professional Account for experienced traders, and a Demo Account for practice trading without risk. Each account type has distinct characteristics and is designed to meet different trader needs.
IVY Forex provides multiple contact methods for customer support, including email, live chat, telephone, and social media. Customer support is typically available during business hours, usually 24/5, ensuring assistance is accessible throughout the trading week.
Related Forex Brokers
Risk Disclosure
Trading forex/CFDs via brokers carries high risks, including potential total loss. For any data changes, please refer to the latest information on the brokers' official websites. Trade with caution and seek independent advice.