IamFX is the new company that was added to the list of MetaTrader 4 Forex brokers on my site today. It went on-line this year. IamFX is a pure Forex broker with no CFD or precious metal trading. It allows EA trading (even scalping expert advisors are welcome). It’s main difference from the majority of other brokers is that it charges a side commission in addition to spread. The spread is quite low — up to 1.2 pips on EUR/USD, but the side commission of 1 pip is charged on every closed position. The resulting spread is up to 2.2 pips. The effect is the same as you would have reduced your take-profit levels by 1 pip on a Forex broker without such commission. The minimum account size for this Forex broker is $500 and micro Forex lots are available. The leverage can be as high as 1:400. Other features of this broker:
- Domain name expires in less than 4 months.
- Free VPS hosting is available for the real account holders.
- The only methods to transfer trading funds are wire transfer and check.