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IamFX reviews

Average: 2.6 based on 20 reviews
IamFX broker reviews
  • Website:
  • Year since: 2009
  • Headquarters: Republic of Panama
  • Company registration: IamFX Inc., Panama
  • Regulation: Not regulated.
  • Notes: IamFX is an IB for Gallant Capital Markets.

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Rating interpetation

Slovakia, Andrej

April 9, 2015

4 years Total
3 years with this Broker

I have a MAM account with this broker with investors attached. Spreads are good, trade execution is fast, the MAM incentive system works properly, so for me all good.

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October 23, 2012

3 Total
2 with this Broker

They are the worst of the worst. 2 weeks ago I did a transfer to my bank account and I specified all the details in the withdrawal form. Instead of transferring me the money to my account they divided the amount and transferred to 3 different credits card which I closed last year. I try contacting the customer service for over 20 times and till now they did nt resolve the issue and they said according to their policy they cant transfer the money to my account they have to transfer it to my credit cards??? HORRIBLE CUSTOMER SERVICE AND Un PROFESSIONAL WAY OF DEALING WITH CUSTOMER ISSUES. IF YOU WANT TO LOSE YOUR MONEY DEAL WITH THEM

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Romania, M. Moje

August 2, 2012

3 years Total
1 month with this Broker

By the time Draghi was speaking today, for 10 minutes the account was connected but everything was blocked exactly when EURUSD was on its high. Same issue on demo and real accounts. Couldn't close or open positions. After 10 minutes everything went fine again.

Stay away from this very bad broker.

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Slovakia, Tomas

February 18, 2012

2 years Total
5 months LIVE with this Broker

Using my own EA and so far getting best results on this broker compared to other 4 brokers I'm trading with. Never had any problem with withdrawing profits, so all good for me.

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Poland, Pawel

November 17, 2011

2 years Total
2 months with this Broker

Stay away from this broker.
I started trading micro account with them, and for a month everything was fine. But I made 400% and after that strange things started to happend. They started to give me huge slippages, although for a month I had 0 slippages.
They just started to cheat me and trade against me that's what they do.

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July 20, 2011

2 months Total
2 months with this Broker

I don't know much about forex, but I'm more than happy with IamFX.
I use EA & I'm really pleased with the broker.
The best thing is that they provide free VPS !
But there are some rules to follow.

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April 19, 2011

1 year Total
6 month with this Broker

I am working with him from last 6 month and we are very pleased with them. They support us whenever we needed.

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November 19, 2010

Correct. Thank you for pointing that out.
Sunspot Capital Corp. - the custodian of IamFX - was registered with SEC as an Investment Advisor Firm.
However, if you perform a check now:

it says: "This investment adviser [Sunspot Capital Corp.] is no longer registered with the SEC and is not required to update its Form ADV. The information shown is for historical purposes and you should not presume it is currently accurate".

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Dr. P. Nausenvy

November 19, 2010

6 years Total
2 months Demo with this Broker

Regulated by the SEC? What are you talking about???

Quote from IamFX rep: "IamFX Inc. is registered in Panama and we use Gallant Capital Markets, Ltd. ("GCM") for execution - a British Virgin Islands based Broker Dealer and registering under SIBA with the BVI Financial Services Commission ("FSC")"

They also no longer accept US citizens. Thanks Frank-Dodd!!!

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zeus, USA

August 19, 2010

9 years Total
3 months with this Broker

Opened a trade with an EA set to move my SL into profit as the price went in my favor, which it did. once the rally retraced and hit my SL (57 pips into profit on 2 full lots) the EA closed my positions against the set SL. iAm deducted the gains as losses from my account because it was a SL that closed the trade and not a TP even though the trade was in profit. Run far from these clowns. Trying to get their bafoonery reversed so I can withdraw my funds.

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August 12, 2010

2 years Total
6 months with this Broker

To Tam, at the bottom of this thread:
iamfx is not wrong. You are. You just don't understand what a VPS is, and, to be fair to you, iamfx doesn't know how to explain it very well.
The way they are doing this is to give you access to the full version of Metatrader through a browser, whether on another desktop or your mobile phone. It is the same application that you are using on your desktop or laptop. It is no different in any way. This is not the same as using browser-based trading software as with forex.com and others. Again, this is the complete Metatrader.
Also, as iamfx said, it is better than Metatrader mobile. Metatrader Mobile is limited in many ways. For example, you cannot use any custom indicators, and you cannot use any expert advisors.
However, to be fair, iamfx no longer offers a free VPS. They charge a lot if you do not trade a minimum amount each month and have a minimum amount in your account. Actually, it would be much cheaper and give you greater versatility to get a normal Windows VPS and install Metatrader if you needed that kind of remote access, though you need to be fairly computer literate to set this up and make it work for you.
As to their support, I agree with you. It is not great. However, since they have just about the lowest commissions (you or the brokers can call it anything you want, but it is still a commission--money out of your pocket and into theirs) than just about any other broker out there. Sure forex.com has better support. They will also take more than twice the commission as iamfx.
I'm staying with iamfx.

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Tom R. USA

July 30, 2010

4 years Total
3 months with this Broker

RUN, RUN, RUN - this brokerage is not only a mess to deal with, but they will tell you conflicting things with their written policies. That is if you catch them, at their none existent customer support. They make it very apparent they do not care about their customers.

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Kev. England

July 28, 2010

6 months Total
3 months demo 3 months live with this Broker

Just to clarify the VPS charge as Malcolm, Australia pointed out.

I too was charged $35 but that was because I had forgotten to cancel it and had not used it for 30 days. They do tell you about this when you open a VPS account so I couldn't complain as it was my own fault.

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Kev. England

July 27, 2010

6 months Total
3 months demo - 3 months live with this Broker

I have had some problems with support but to be fair that was mostly down to my lack of technical experience as I am far from being very computer literate. I am trading manually from my PC and now that I have got the hang of everything it is all working fine.

I thought the best way to test if the spreads / commissions are competitive would be to place the same trades with a rival brokers demo account and so far I have not found a better one. I have only tried Alpari and FXCM up to now and IamFX pays better by around 30%!

I have not yet tried to take any money out as I am building up my bank. Hence the 4 stars so far.

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Malcolm, Australia

July 13, 2010

5 Months Total
5 Months with this Broker

I would not recommend this broker. Big slippage, spreads not as tight when trading live. You loose $25 whenever you deposit funds into their account and now I have just recieved an email saying they are deducting $35 from my account for the VPS Fee. This is a service they promote as being free!!!! You just cant trust them.

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