@ Yusuf:
Based on the information we have, broker iFXL (www.iforexlive.co.uk) is included in the offshore broker category, registered in the country of Saint Vincent and the Grenadines, and is not regulated by any regulatory body. Therefore, this broker has the potential to be a scam.
For the security of your trading and funds, we recommend choosing a broker that is already regulated by a credible international regulatory body such as CFTC, NFA, FCA, FSA, FINMA, MiFID, ASIC and FMA.
A credible regulatory body is one that has been tested and internationally recognized, and provides strict sanctions to brokers if they violate agreed-upon terms. These regulatory bodies are also responsible for the security of client funds.