Strifor

Overview of Strifor

Strifor, established in 2022 in Mauritious, offers a wide range of trading assets including forex, metals, indices, and cryptocurrencies. With a user-friendly MT5 platform, it provides leverage of up to 1:500 and competitive spreads as low as 0 pips.

Is Strifor legit or a scam?

Strifor is regulated by FSC, with the license number of GB23202670. The current status is offshore regulated.

Pros and Cons

Market Instruments

Strifor offers a wide range of trading assets, totaling over 300+ assets.

Among these assets are Cryptocurrency, providing access to various digital currencies such as Bitcoin, Ethereum, and Litecoin.

Additionally, traders can engage in the forex market through a selection of currency pairs, offering opportunities to trade major, minor, and exotic currency pairs.

The platform also features Contracts for Difference (CFDs), enabling users to speculate on the price movements of various financial instruments without owning the underlying assets.

For those interested in commodities, Metals such as gold, silver, platinum, and palladium are available for trading, providing exposure to the precious metals market.

Furthermore, Strifor offers trading options in Indexes, allowing investors to trade on the performance of stock market indices such as the S&P 500, NASDAQ, and FTSE 100.

Account Types

Strifor offers a variety of account types as follows:

The BASIC account type accommodates a wide range of clients, regardless of their trading experience or financial background. With a relatively low deposit requirement of $20, various currency options including USD, USDt, and EUR, and a maximum leverage of 1:500, it offers accessibility and flexibility. This account type features spreads starting from 0.1 point and allows trading in Forex, Metals, Indexes, and Cryptocurrency. While SWAP is enabled, there is no provision for Islamic rulings (IR), making it suitable for traders who do not require Sharia-compliant features.

The ADVANCED account serves users seeking more advanced trading capabilities and who can commit to a higher initial deposit of $10,000. Similar to the BASIC account, it supports multiple currencies and offers a maximum leverage of 1:500. However, it provides tighter spreads starting from 0 and extends trading options to include Cryptocurrency and Contracts for Difference (CFDs). This account type also includes SWAP functionality and accommodates Islamic rulings (IR), making it suitable for a broader range of traders, including those with Islamic finance preferences.

The PROFESSIONAL account type is tailored for experienced traders with a higher level of capital, requiring a substantial initial deposit of $20,000. It offers competitive advantages such as tighter spreads from 0, a maximum leverage of 1:200, and an expanded range of trading instruments including Cryptocurrency and CFDs. With lower commission rates per lot compared to BASIC and ADVANCED accounts, this option is ideal for traders looking for cost-effective trading solutions. Additionally, the PROFESSIONAL account offers the flexibility of Islamic rulings (IR), providing further options for traders with specific religious considerations.

The ISLAMIC account type is specifically structured to adhere to Islamic finance principles, making it suitable for traders who require Sharia-compliant trading options. With a modest deposit requirement of $2,000, it accommodates users seeking to align their trading activities with Islamic law. Offering trading in Forex, Metals, and Indexes, along with SWAP-free features, this account type ensures compliance with Islamic finance regulations. While it may have slightly higher commission rates compared to other account types, it provides a platform where traders can engage in financial activities in accordance with their religious beliefs.

How to Open an Account?

Opening an account with Strifor involves a straightforward process, typically completed in five clear steps:

1. Registration: Begin by visiting the official Strifor website and locate the “Register” button. Click on it to access the registration form. Fill in the required personal information accurately, including your full name, email address, phone number, and country of residence.
2. Verification: Once you've submitted the registration form, Strifor may require you to verify your identity and address. This step usually involves uploading scanned copies or photos of valid identification documents such as a passport or driver's license, as well as proof of address documents like a utility bill or bank statement. Ensure all documents are clear and legible before submission.
3. Account Type Selection: After successful verification, you'll need to select the type of account you wish to open based on your trading preferences, financial capabilities, and risk tolerance. Strifor typically offers several account types, each with varying features such as leverage, spreads, and commissions. Choose the account type that best aligns with your trading objectives.
4. Deposit Funds: Once your account type is selected, you'll need to fund your trading account. Strifor usually supports multiple deposit methods, including bank wire transfer, credit/debit card payments, and electronic payment processors. Follow the instructions provided on the platform to deposit funds into your account securely.
5. Start Trading: With your account funded, you're now ready to start trading. Log in to your Strifor trading account using the credentials provided during registration. Familiarize yourself with the trading platform's interface, tools, and features. Then, analyze the markets, place your trades, and monitor your positions closely to seize potential opportunities and manage risk effectively.

Leverage

Strifor offers varying maximum leverage ratios across its account types.

For BASIC and ADVANCED accounts, the maximum leverage is set at 1:500, providing clients with the ability to control larger positions with a smaller amount of capital.

However, for PROFESSIONAL accounts, the maximum leverage is slightly reduced to 1:200, likely due to the higher level of capital and sophistication expected from professional traders.

Interestingly, the ISLAMIC account maintains the same maximum leverage as BASIC and ADVANCED accounts at 1:500, reflecting the platform's adherence to Islamic principles while still offering competitive leverage options.

Spreads & Commissions

Strifor offers different spreads and commission rates across its various account types.

The BASIC account features spreads starting from 0.1 point across all trading instruments, with commissions per lot set at $8 for Forex and Metals trading.

Meanwhile, the ADVANCED account presents an attractive proposition with spreads starting from 0 and slightly reduced commission rates of $7 per lot for Forex and Metals.

For those seeking a more cost-effective option, the PROFESSIONAL account offers the tightest spreads from 0 and even lower commissions of $5 per lot for Forex and Metals trading.

However, the ISLAMIC account, while maintaining competitive spreads from 0.1 point, presents relatively higher commission rates, especially for Forex and Metals trading, at $12 per lot.

Considering the fee structure, BASIC and ADVANCED accounts are suitable for all types of traders, while the PROFESSIONAL account is more appealing to experienced traders looking for cost-saving opportunities. The ISLAMIC account, despite its higher fees, may still attract traders seeking Sharia-compliant options within the platform's offerings.

Trading Platform

The trading platform offered by Strifor, primarily based on MetaTrader 5 (MT5), provides traders with a comprehensive and versatile trading experience. Strifor's choice of MT5 is justified by its robust features and functionality, aligning with the platform's commitment to offering a wide range of trading instruments, including Cryptocurrency, which is increasingly recognized as a significant asset class.

With MT5, traders on Strifor gain access to a plethora of tools and resources enhancing their trading strategies. The platform boasts advanced features such as Market Depth and Contract Specifications, allowing traders to gain insights into market liquidity and contract details for informed decision-making.

Furthermore, Strifor ensures accessibility to its trading platform by offering both mobile and browser-based versions, allowing traders to monitor and execute trades conveniently on-the-go. The platform also provides user notifications, including trading signals, to keep traders informed about market developments and potential trading opportunities.

Deposit & Withdrawal

Strifor offersUSDT TRC-20, USDT ERC-20, BTC, ETH, Perfect Money, Vo/et among its payment methods, allowing users to deposit funds using popular cryptocurrencies, appealing to those preferring the anonymity and security of blockchain-based transactions.

Customer Support

Strifor provides customer support primarily through its English-language contact number: +230 463 7993. Additionally, users can reach out via email at help@strifor.ltd. WhatsApp: 447488848238, Telegram: https://t.me/strifor_CustomerCare.

Conclusion

In conclusion, Strifor presents a compelling option for traders seeking access to various markets and competitive trading conditions. With a user-friendly MetaTrader 5 platform, traders can leverage up to 1:500 and benefit from competitive spreads as low as 0 pips.

The platform's high minimum deposit requirement for certain account types limit accessibility for traders with limited capital.

FAQs

What trading instruments does Strifor offer?

Strifor offers a wide range of trading instruments including forex, metals, indices, and cryptocurrencies.

What is the minimum deposit required to open an account with Strifor?

The minimum deposit ranges from $20 to $20,000 depending on the account type.

How can I contact customer support at Strifor?

You can contact customer support via phone, email, or social media channels.

What leverage does Strifor offer?

Strifor offers leverage of up to 1:500.