Today today there are many different brokers through which we can perform various operations in the financial markets. But nevertheless, not all of them are to be trusted and not all of them offer the ability to trade all markets. In this article we will talk about the Spanish broker called iBroker, which has gained a lot of popularity among professional futures traders.
If you want to know more about the iBroker, I recommend that you keep reading. We will explain what type of broker it is, how its customer service works, what markets it offers and, to conclude, the advantages and disadvantages it presents.
What type of broker is iBroker?
When we talk about the iBroker, we are referring to a Spanish derivatives broker. This covers Forex, futures and CFDs markets. It was born in 2016 as a result of the spin-off of Auriga Global Investors and manages these departments that were previously run by Clicktrade. Today it is a reference broker in Spain thanks to the services and products it has, of which some have been marketed in international markets. It should be noted that it is the only Spanish broker that has achieved this.
In the futures markets, the iBroker offer is very large, both in platforms and in contracts. Therefore, it is one of the best options if we want to start in this type of market in Spain.
Customer service
One of the strong points that iBroker offers are its various forms of customer service. In this way, clients can have operations at their fingertips whenever they want, which is very useful and advantageous in a market as important as the financial options or futures. To contact iBroker customer service, we have the following options:
- Chat live
- Send a e-mail to the following email: customers@ibroker.es
- Go to central office located at 102-104 Caleruega street in Madrid. This option, of course, is only available to people who are in the area.
- Call to phone 917 945 900. His hours are Monday through Friday from eight in the morning until ten at night.
Not only does it offer us several communication options, but also a very wide schedule to do so. In addition, we have another way to be aware of the latest news from this broker through his Twitter channel. Although it is not a suitable way to resolve issues related to our personal accounts, we can interact with the community and see the latest updates.
Markets offered by iBroker
An important aspect when choosing a broker are the markets in which it operates. We are going to list which markets are available in the iBroker:
- Futures: It makes it possible to negotiate the most traded markets worldwide and Europe, such as the DAX, Eurostoxx, Mini-DAX, Ibex, SP500, Mini-Ibex, Bund and Spanish Bond, among many others.
- CFDs on stocks and ETFs: Especially in the Spanish, European and North American markets.
- Forex: In the Direct Market Access modality, the iBroker allows operating the foreign exchange market with a total of twenty banks that provide liquidity.
- CFDs on indices and commodities: It allows to operate the main markets of the world, such as the SP500, oil, Dow Jones and also gold with a lot of flexibility.
- Financial options: You have access to the MEFF, CME and Eurex options, among many others.
- CFDs on cryptocurrencies: It offers the possibility of trading in fractions of 0.01.
- LMAX Market: It is a Prime Forex broker. With iBroker we can operate within this ecosystem with the most advanced trading conditions in DMA format.
- X Rolling FX: It is a special futures contract that is made on MEFF currencies. It allows you to access the Forex market with the same security and power as futures, but in a more flexible way. In this case, the multiplier is not 100.000, but 10.000. It should be noted that this future is perpetual, that is, it does not expire.
Apart from these markets, iBroker has an integrated automatic trading system. It is an algorithmic trading through which you can access more than 1.500 futures systems and also other derivative markets.
Advantages and disadvantages of the iBroker
Now that we know a little more about the iBroker, we are going to summarize the advantages and disadvantages of this Spanish broker. As points in your favor you have to is a maximum security broker for the Spanish market, since it is regulated by the CNMV and is protected by Fogain, which insures up to one hundred thousand euros per holder. In addition, it is one of the few derivatives brokers that uses a platform called TradingView, which makes it much easier to monitor and analyze charts.
It should also be noted that it offers excellent options for trading CFD markets, both with spread costs and with commissions through LMAX. We cannot forget about the cryptocurrency CFDs it offers either, whose commissions are highly attractive. Apart from these good options, its DMA or pure ECN Forex operations are another point in favor of this Spanish broker.
As we mentioned earlier, The iBroker is an ideal choice for professional futures traders. In addition, it has several options for automated trading. Another point in its favor is the ease it gives its clients to get in touch with the entity. Despite not being a strong argument for the operations themselves, it is an important aspect to take into account for the comfort of the users.
However, we must also highlight a couple of disadvantages that iBroker presents. In several international contracts the commissions of this broker are higher than in other American brokers. What's more, It is not available for international traders from Latin America.
If you have come to try the iBroker, you can tell us in the comments what you think of this broker and if you recommend it.