Traders Union has analyzed financial markets for over 14 years, evaluating brokers based on 250+ transparent criteria, including security, regulation, and trading conditions. Our expert team of over 50 professionals regularly updates a Watch List of 500+ brokers to provide users with data-driven insights. While our research is based on objective data, we recommend that users perform independent due diligence and consult official regulatory sources before making any financial decisions.
Learn more about our methodology and editorial policies.
iFOREX Pros & Cons
- license availability from the international regulator BVI FSC;
- a wide range of 800+ financial instruments;
- trading platform, website, and support in 11 languages.
- high spread: from 1.8 pips;
- the minimum deposit is $100;
- there are trading restrictions on scalping and algorithmic trading;
- broker's clients cannot receive passive profit through investments in PAMM accounts and ready-made investment portfolios;
- potential clients can’t test the broker's conditions on cent (micro) accounts.
TU Expert Verdict
iFOREX demonstrates moderate stability and can suit certain traders. Its conditions are acceptable, and feedback is mixed but reasonable. In my own tests, it performed adequately, though it lacks the consistency of higher-rated companies.
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iFOREX User Reviews
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5-star
2%
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4-star
4%
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3-star
37%
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2-star
34%
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1-star
22%
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Commissions and Fees
Score:We evaluate brokers' fees and spreads by assessing the costs associated with Standard and ECN/Raw spread accounts, including commissions and spreads. Additionally, our evaluation considers extra fees such as deposit/withdrawal charges and inactivity fees. Learn the assessment criteria7 /10The trading and non-trading commissions of iFOREX have been analyzed and rated as having Medium fees, with a fees score of 7/10. Additionally, these commissions were compared with those of the top two competitors, OANDA and FOREX.com, to provide the most comprehensive information.
- Low Forex trading fees
- Tight EUR/USD market spread
- No deposit fee
- No withdrawal fee
- Inactivity fee applies
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Is iFOREX Safe?
Score:We evaluate brokers' safety based on several key criteria. The highest value is placed on regulation, especially Tier 1 regulation, which ensures adherence to stringent standards set by top financial authorities like the FCA in the UK, CFTC in the US, CySEc and BaFin (EU) or ASIC (Australia). High scores are also given for participation in investor protection funds, which safeguard clients' funds in case of broker insolvency. Learn the assessment criteria9.3 /10iFOREX has a safety score of 9.3/10, which corresponds to a High security level. The safest brokers are those with Tier-1 regulation, a long history (over 10 years in the market), and participation in investor compensation schemes.
- Tier-1 regulated
- Negative balance protection
- Track record over 30 years
- Strict requirements and extensive documentation to open an account
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Account Types
Score:We evaluate a broker’s account offering by analyzing the range and suitability of available account types and how effectively they cater to different trader profiles and strategies. Our assessment covers the diversity of account options — including Standard, ECN/Raw, Cent, Swap-Free (Islamic), and VIP accounts — as well as the flexibility of trading conditions provided. Learn the assessment criteria.2.5 /10iFOREX offers the following account options: Demo, Standard, ECN/Raw spread, Swap Free.
However, it does not provide a Cent account, which can be a disadvantage for beginners looking to practice with minimal risk.
- Tight spread ECN account
- Demo account
- Low minimum deposit
- No Cent account
- No VIP account option
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Deposit and Withdrawal
Score:This section assesses the efficiency, speed, and affordability of brokers’ transaction processes, focusing on available methods, currencies, and fees. For further details, please refer to our data-focused methodology7.8 /10iFOREX received a Medium score for the efficiency and convenience of its deposit and withdrawal processes.
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Markets and Tradable Assets
Score:The evaluation in this section is based on the TU methodology and reflects the total number and variety of tradable assets offered by the broker, including Forex currency pairs. It also considers the availability of passive income tools such as PAMM accounts, copy trading, and similar services. All information is obtained from publicly available sources and may change. Learn the assessment criteria7.8 /10iFOREX provides a standard range of trading assets in line with the market average. The platform includes 750 assets in total and 90 Forex currency pairs.
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Trading Account Opening
We successfully registered an account with iFOREX in 20 minutes. The KYC verification was completed within 2 business days. The minimum deposit amount at iFOREX is $100.Score:We evaluated Trading Account Opening at iFOREX by testing the registration process under real conditions, including opening an account and funding it with the minimum required deposit (but no less than $100). Our assessment considered whether onboarding was fully online, the average registration time, the speed of KYC verification, and how quickly traders could activate their accounts. Learn the assessment criteria.8 /10This is one of the most accessible and hassle-free onboarding procedures on the market.
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Customer Support
Score:We evaluated Customer Support at iFOREX by opening a real account funded with the minimum required deposit (no less than $100) and contacting support to measure response time under real conditions. Our assessment considered contact channels, response speed, multilingual support, and availability hours. Learn the assessment criteria5.2 /10
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iFOREX Video Guides
FAQs
What commissions, spreads, and non-trading fees does iFOREX apply?
The review notes that iFOREX has medium overall fees, with low Forex trading costs, tight EUR/USD spreads, and no deposit or withdrawal percentage fees, but it does charge an inactivity fee of $5 per month. On Standard accounts, trading costs are built into floating spreads (for example, EUR/USD typically ranges from 0.6 to 0.9 pips), while RAW/ECN accounts use market-based spreads plus a $5 per lot commission, and withdrawals may incur a fixed fee of $0–$20.
What account types and trading conditions are available with iFOREX?
According to the review, iFOREX offers Demo, Standard, ECN/Raw spread, and Swap Free accounts, but does not provide Cent or Micro accounts. The broker has one main live “real” account with a $100 minimum deposit, leverage up to 1:400, EUR/USD spreads starting from 1.8 pips (reduced for deposits from $5,000), and no commission per lot, while the demo account mirrors these conditions but can only be opened after activating a live account.
What do user reviews and feedback indicate about iFOREX’s overall reputation?
Based on available user reviews, iFOREX has a user satisfaction score of 4.6/10 from 134 reviews, with most ratings clustered in the 2- and 3-star range. The distribution shows 2% 5-star, 4% 4-star, 37% 3-star, 34% 2-star, and 22% 1-star reviews, indicating that overall user sentiment in the comments is mostly negative.
What markets and tradable assets are mentioned in reviews of iFOREX’s offering?
The review states that iFOREX provides access to 750 tradable assets, including 90 Forex currency pairs, stocks, commodity futures, cryptocurrencies, and stock indices. It also notes that bonds, copy trading, PAMM investing, and managed accounts are not available, while ETFs are supported as an additional investment option.
How is iFOREX customer support described in user feedback and testing?
The review describes iFOREX customer support as available 24 hours a day, five days a week, with multilingual assistance via local phone numbers, email, and an online chat that delivers responses by email rather than in real time. According to user feedback and testing, response times are moderate and service quality can vary, with some limitations such as no weekend availability, no callback request form, and certain mobile operators not supporting the listed phone formats.
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