Ibroker.es Reviews

The platform prominently features high-risk warnings, stating, “El 69.77% de las cuentas de inversores minoristas pierden dinero en la negociación con CFD con este proveedor.” This isn’t just a boilerplate disclaimer. it’s a stark statistic indicating that a significant majority of retail investors lose money. This highlights the speculative nature of such trading, where gains are often derived from another’s loss, and the outcomes are heavily influenced by market volatility rather than genuine productivity or ethical exchange. Engaging in such transactions, where the primary objective is to profit from price fluctuations rather than the underlying value of an asset, carries the characteristics of gambling, which is explicitly forbidden. Instead of pursuing fleeting gains through speculative trading, it is far more beneficial and blessed to seek avenues for wealth creation through honest trade, ethical business ventures, and investments in real assets that contribute to societal well-being, adhering to the principles of fair exchange and avoiding interest-based dealings.

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IMPORTANT: We have not personally tested this company’s services. This review is based solely on information provided by the company on their website. For independent, verified user experiences, please refer to trusted sources such as Trustpilot, Reddit, and BBB.org.

Unpacking iBroker.es: A Deep Dive into Risky Offerings

IBroker.es positions itself as a specialized online broker for derivatives, offering access to a wide array of markets.

However, the very foundation of its offerings—Futures, Options, CFDs, and Forex—is built upon mechanisms that involve leverage and speculation, which are problematic from an ethical standpoint.

These instruments are designed for short-term gains based on predicting market movements, rather than investing in the tangible growth or productivity of an enterprise.

The Landscape of Derivatives Trading

The platform highlights its focus on various derivatives, each with its own set of risks and complexities.

• Futures: These are contracts to buy or sell an asset at a predetermined price at a specified time in the future. While they can be used for hedging, their primary use for retail traders on platforms like iBroker.es often leans towards speculation.
• Options: Similar to futures, options give the holder the right, but not the obligation, to buy or sell an asset at a set price. Their value is highly volatile, dependent on the underlying asset’s price, time to expiry, and implied volatility.
• CFDs Contracts for Difference: These are agreements to exchange the difference in the value of an asset from the time the contract is opened until it is closed. CFDs are often leveraged, amplifying both potential gains and losses. The statistic that nearly 70% of retail accounts lose money with CFDs on this platform underscores their inherent danger.
• Forex Foreign Exchange: Trading currencies on margin is another highly speculative activity. While currency exchange is a legitimate part of international trade, profiting from minute fluctuations through leveraged trading involves significant uncertainty and often interest-based overnight fees rollovers.

All these instruments, while seemingly offering opportunities for quick profit, often lead to rapid losses due as the website mentions. Switchhealth.co.uk Reviews

This mirrors the characteristics of Maysir gambling due to their speculative nature, and Riba due to potential interest charges embedded in leveraged positions or rollovers.

iBroker.es Features and Their Underlying Issues

IBroker.es boasts a range of features designed to facilitate derivative trading.

While these might seem appealing to a prospective trader, it’s important to understand the context of their use.

• Access to Major Markets: The platform offers access to markets like EUREX, CME Group S&P 500, Nasdaq-100, Dow Jones, and LMAX for Forex and Crypto CFDs. This global reach might seem impressive, but it merely expands the arena for speculative activities.
• Real-time Data: Offering real-time quotes, including level 1 depth for EUREX futures and 10 positions for CME Group, aims to give traders an edge. However, even with the best data, predicting market movements consistently is virtually impossible, leading to reliance on guesswork rather than sound financial principles.
• Automated Trading Systems: iBroker.es provides access to “hundreds of 100% automatic systems” for futures trading, with “verified statistics.” While automation can remove emotional bias, these systems are still designed for speculative trading based on algorithms, which cannot bypass the inherent uncertainty and potential for loss.
  • Automated Trading: The Illusion of Control: These systems often promise consistent returns, but the reality is that past performance is never a guarantee of future results. They operate within the same volatile markets, making them susceptible to sudden shifts.
  • Ethical Considerations: Relying solely on automated systems for profit without a genuine understanding of the underlying assets or contribution to the economy can be seen as detached from ethical commerce.
• Trading Platforms Web, Mobile, TradingView: The availability of multiple platforms, including integration with TradingView, aims to enhance the user experience. However, a sleek interface doesn’t negate the fundamental risks associated with the products being traded. It merely makes engaging in high-risk activities more accessible.
  • User Experience vs. Financial Prudence: While a user-friendly interface is desirable, it can inadvertently encourage novice traders to jump into complex instruments without fully grasping the associated dangers.

iBroker.es Cons: Acknowledging the Realities

Despite any perceived advantages, the significant drawbacks of engaging with platforms like iBroker.es, especially from an ethical and financial prudence perspective, are substantial.

• High Risk of Capital Loss: The platform’s own data clearly states that 69.77% of retail investor accounts lose money trading CFDs. This statistic alone should be a major deterrent. This isn’t just a minor risk. it’s a highly probable outcome.
  • The Zero-Sum Game: In speculative trading, one person’s gain often comes directly from another’s loss, creating a zero-sum environment. This contrasts sharply with ethical business, where value is created and exchanged for mutual benefit.
• Leverage Amplifies Losses: While leverage can amplify gains, it equally, if not more effectively, amplifies losses. A small market movement against a leveraged position can wipe out an entire account rapidly.
• Complexity and Lack of Transparency: Derivatives are inherently complex instruments. Despite efforts to simplify them, understanding their intricate pricing, expiry, and margin requirements can be overwhelming for novice traders. Furthermore, opaque fees, spreads, and rollover costs can eat into capital.
• Psychological Toll: The volatile nature of derivative trading can lead to significant stress, anxiety, and impulsive decision-making, especially when money is on the line. The allure of quick profits can lead to addictive behavior, chasing losses, and making irrational choices.
• Interest Riba Elements: Many derivative contracts, particularly those held overnight Forex, CFDs, incur “rollover” fees, which are often interest-based. This constitutes Riba, making these transactions impermissible.
• Speculation Gharar and Maysir: The fundamental nature of trading derivatives for profit relies heavily on speculation about future price movements, embodying elements of Gharar excessive uncertainty and Maysir gambling. This is a direct contravention of ethical financial principles.
• No Tangible Value Creation: Unlike investing in a business or real estate that produces goods or services, derivative trading does not contribute to the real economy. It’s a transfer of wealth based on prediction, not productivity.

Alternatives to iBroker.es: Ethical and Beneficial Paths

Instead of venturing into the high-risk, ethically questionable world of derivative trading, there are numerous beneficial and permissible alternatives for building wealth and securing one’s financial future. Tensorpix.ai Reviews

These alternatives focus on real economic activity, ethical investments, and avoiding speculative practices.

• Halal Investing in Sharia-Compliant Stocks and Funds: Invest in publicly traded companies that adhere to Sharia principles. This means avoiding companies involved in alcohol, gambling, interest-based finance, entertainment podcast, movies, and pork. Look for companies with low debt-to-equity ratios and significant revenue from permissible activities.
  • Screening Criteria: Utilize Sharia screening services or Halal investment platforms that vet companies based on specific criteria, including:
    • No Impermissible Activities: No involvement in alcohol, tobacco, gambling, conventional banking/insurance, adult entertainment, or pork.
    • Financial Ratios: Limits on interest-bearing debt e.g., total debt to market capitalization less than 33%, and interest income e.g., interest income less than 5% of total revenue.
  • Examples: Many tech, healthcare, renewable energy, and consumer goods companies can be Sharia-compliant. Platforms like Wahed Invest, Amana Mutual Funds, or specific ETFs that follow Islamic indices are good starting points.
• Real Estate Investment Direct or REITs: Investing in physical property, whether residential or commercial, is a tangible asset that can generate rental income and appreciate in value over time. Direct ownership avoids interest if purchased with cash or through Murabaha/Ijara financing.
  • Islamic REITs: Some Islamic Real Estate Investment Trusts REITs exist that invest in Sharia-compliant properties and operate on permissible financing structures, offering diversification and liquidity.
• Ethical Business Ventures and Entrepreneurship: Invest in or start a business that provides genuine goods or services, contributes to society, and operates ethically. This involves direct participation in wealth creation and job generation.
  • Small Business Ownership: Consider direct investment in a small business, or even starting one based on a valuable skill or service.
  • Angel Investing/Venture Capital Ethical: For those with significant capital, investing in promising startups that align with ethical principles can offer substantial returns and contribute to innovation.
• Commodities Physical, Not Speculative Futures: Invest in physical commodities like gold, silver, or agricultural products, aiming for direct ownership and avoiding leveraged futures contracts.
  • Physical Gold and Silver: These are historically stable stores of value and permissible assets. Purchase and take possession, rather than speculating on paper contracts.
• Murabaha and Ijara Financing: For those seeking financing, explore Islamic finance options like Murabaha cost-plus financing for asset purchase or Ijara leasing for property or equipment. These structures avoid interest Riba.
• Long-Term Savings Accounts: While conventional savings accounts might involve Riba, seek out ethical savings options or simply hold cash for short-term needs, while primarily focusing on long-term investments in real assets.
• Education and Skill Development: Invest in yourself through education and skill development. This is an investment that yields lifelong returns, enhances earning potential, and allows for contributions to society.
• Philanthropy Sadaqah and Zakat: While not an investment in the traditional sense, consistent charity and fulfilling Zakat obligations purify wealth, attract blessings, and are a form of investment in the hereafter.

How to Disengage from iBroker.es and similar platforms

Given the inherent issues with derivative trading platforms, for those who might have ventured into iBroker.es or similar platforms, the focus should be on safely disengaging and redirecting financial efforts towards permissible avenues.

• Withdraw All Funds: The immediate priority should be to withdraw all available funds from the trading account. iBroker.es states a “100% online, 100% secure account opening process” and strong client money protection, segregating funds in major banks. While this is positive for security, the primary goal is full withdrawal.
  • Process: The website mentions linking a bank account during the opening process. Funds are typically withdrawn to the linked bank account. Check their specific withdrawal procedures, which might involve a withdrawal request form or button within the client portal.
• Close the Account: Once funds are withdrawn, proceed to formally close the trading account. This usually involves contacting customer support via phone or email to initiate the closure process.
  • Contact Information: iBroker.es provides customer service via Tel/WhatsApp: +34 917 945 900 and email: [email protected].
• Cancel Subscriptions/Trial: If any premium services or real-time data subscriptions were active, ensure they are explicitly canceled. The website mentions a 7-day free demo with real-time data, which then reverts to delayed quotes. Any ongoing paid subscriptions should be reviewed and terminated.
  • Automatic Renewal: Be vigilant about any automatic renewal clauses for paid services.
• Remove Payment Information: After closure, ensure that any stored payment methods credit cards, bank details are removed from the platform’s records, if possible, for security reasons.

iBroker.es Pricing and the Hidden Costs of Speculation

While iBroker.es lists “competitive commissions” and transparent pricing for certain products, the true “cost” of engaging with such platforms goes far beyond explicit fees.

• Commissions: They list commissions like 0.08% on Spanish and major European stock CFDs, and 1.25 cents/action for NASDAQ and NYSE. Forex spreads start from 0 pips on EUR/USD.
  • Competitive vs. Costly: While these might be competitive within the derivative trading industry, the real cost lies in the potential for significant capital loss due to market volatility and leverage.
• Spreads: The difference between the buy and sell price, known as the spread, is another form of cost. Tight spreads are attractive but still contribute to the overall trading expense.
• Rollover Fees: As mentioned, these are interest-based fees charged for holding positions overnight, making them impermissible.
• Slippage: The difference between the expected price of a trade and the price at which the trade is actually executed can lead to unexpected losses, especially in volatile markets.
• Emotional and Psychological Costs: The mental and emotional toll of constantly monitoring markets, dealing with losses, and the addictive nature of speculative trading is a significant, often overlooked, cost. This can lead to stress, anxiety, and impact overall well-being.
• Opportunity Cost: The capital and time invested in high-risk derivative trading could otherwise be directed towards productive, ethical investments that contribute to real economic growth and provide stable, long-term returns.

iBroker.es vs. Ethical Financial Practices

Comparing iBroker.es to ethical financial practices is not a direct “vs.” but rather a stark contrast in philosophy and approach to wealth.

• iBroker.es Model:
  • Focus: Short-term speculative gains from price movements.
  • Instruments: Futures, Options, CFDs, Forex leveraged.
  • Risk: Extremely high, with a majority of retail traders losing money.
  • Ethical Stance: Involves elements of Riba, Gharar, and Maysir, making it impermissible.
  • Contribution: Does not contribute to the real economy. a transfer of wealth.
• Ethical Financial Practices Model:
  • Focus: Long-term wealth creation, real asset ownership, and productive economic activity.
  • Instruments: Sharia-compliant stocks, real estate, ethical businesses, physical commodities.
  • Risk: Managed risk, diversified investments, focus on fundamental value.
  • Ethical Stance: Adheres to principles of fairness, transparency, absence of interest, and avoidance of speculation.
  • Contribution: Creates jobs, develops industries, provides goods/services, contributes to societal well-being.

The fundamental difference lies in the source of profit: iBroker.es facilitates profiting from price differences and speculation, often with leverage, while ethical finance seeks profit from genuine trade, production, and the sharing of risk and reward in real economic ventures. Afound.com Reviews

The former carries inherent risks and ethical concerns that are absent in the latter.

Frequently Asked Questions

What is iBroker.es primarily used for?

IBroker.es is primarily used for trading derivative financial instruments, including Futures, Options, CFDs Contracts for Difference on stocks, indices, commodities, and cryptocurrencies, as well as Forex.

Is iBroker.es suitable for beginners?

Based on the website’s own disclaimer that “69.77% of retail investor accounts lose money in the negotiation with CFD with this provider,” iBroker.es is generally not suitable for beginners due to the high complexity and extreme risk associated with derivative trading.

Does iBroker.es offer a demo account?

Yes, iBroker.es offers a free demo account for practice trading.

It provides 7 days of real-time data, after which quotes are delayed by 15 minutes, and comes with €50,000 of virtual money. Pawaii.com Reviews

What trading platforms does iBroker.es support?

IBroker.es supports its own proprietary Web Platform, Mobile Apps Apple and Android, and integration with TradingView for trading directly from its charts.

They also offer a telephone broker service and access to automated trading systems.

What are the main risks of trading on iBroker.es?

The main risks include a high probability of losing money rapidly due to leverage, market volatility, and the speculative nature of derivative instruments.

The website states that nearly 70% of retail investors lose money with CFDs on their platform.

Can I trade cryptocurrencies on iBroker.es?

Yes, iBroker.es offers CFDs on cryptocurrencies like Bitcoin, Ether, Litecoin, and Bitcoin Cash, which are issued by the LMAX Market. Batterycompany.co.uk Reviews

However, this is still a highly speculative form of trading.

Are there any Sharia-compliant alternatives to iBroker.es?

Yes, alternatives include investing in Sharia-compliant stocks, ethical real estate, engaging in ethical business ventures, and physical commodities like gold and silver, all of which avoid Riba interest and excessive speculation.

How do I withdraw funds from iBroker.es?

The website indicates that funds are segregated in major banks CaixaBank, Sabadell, Banca March, Eurex Clearing AG. To withdraw, you would typically initiate a request through your online account portal, with funds transferred to your linked bank account.

Does iBroker.es charge commissions?

Yes, iBroker.es charges commissions on certain products, such as 0.08% on Spanish and European stock CFDs, and 1.25 cents per share for NASDAQ and NYSE. They also mention competitive spreads for Forex.

What is the minimum deposit to open an account with iBroker.es?

The website does not explicitly state a minimum deposit, but it outlines a process for opening a real account, including associating a bank account and transferring money to begin operating. Candepest.com Reviews

What are the trading hours on iBroker.es?

Trading hours depend on the specific market and product.

IBroker.es’s customer service and dealing desk are available from 08:00 to 22:00 presumably CET/CEST.

Does iBroker.es offer automated trading systems?

Yes, iBroker.es claims to offer “hundreds of 100% automatic systems” designed for futures trading on various markets, with “verified statistics.”

How can I contact iBroker.es customer support?

You can contact iBroker.es customer support via phone/WhatsApp at +34 917 945 900 or via email at [email protected].

Is iBroker.es regulated?

IBroker.es is a Spanish broker, and while the website doesn’t explicitly state its regulatory body on the homepage, a reputable financial broker in Spain would typically be regulated by the CNMV Comisión Nacional del Mercado de Valores. Minopia.com Reviews

What is “Tiempo real gratis en EUREX” offered by iBroker.es?

This refers to free real-time market data with level 1 depth for EUREX Futures and Options, available in your account without specific conditions.

Does iBroker.es offer options on US indices?

Yes, iBroker.es offers options on USA indices from CME Group, available in two contract sizes: E-mini and Micro E-mini.

What is the rollover policy on iBroker.es?

IBroker.es mentions “transparent rollovers” for Forex and CFDs on indices and commodities.

These rollovers often involve interest charges for holding positions overnight, which can be problematic from a financial ethical standpoint.

What are the benefits of using iBroker.es according to their website?

According to their website, benefits include being a specialist in derivatives, competitive commissions, real-time data, a wide range of products and markets, and various trading platforms. Titantoyz.com Reviews

However, these benefits are contextualized within the high-risk nature of derivatives.

How long does it take to open a real account with iBroker.es?

IBroker.es claims that the account opening process is “100% online, 100% secure,” and “simple, fast, and agile,” involving online form completion, document upload, and e-signature.

The exact time for full validation isn’t specified but implies quick processing.

What is the iBroker.es award mentioned on their site?

IBroker.es highlights being awarded “MEJOR BRÓKER FUTUROS Y OPCIONES PREMIOS RANKIA 2024” Best Futures and Options Broker Rankia Awards 2024, stating it’s an award granted by users of the Rankia financial community.

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