According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
- $100
- iFOREX authoring platforms
- BVI FSC
- 1996
Our Evaluation of iFOREX
According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
iFOREX is a moderate-risk broker with the TU Overall Score of 5.82 out of 10. Having reviewed trading opportunities offered by the company and reviews posted by iFOREX clients on our website, Traders Union expert Anton Kharitonov recommends users to thoroughly analyze pros and cons before opening an account with this broker as not all clients are satisfied with the company, according to reviews.
iFOREX is a regulated broker for professional traders with capital reserves who independently trade on the Forex market.
Brief Look at iFOREX
The iFOREX broker (iforex.in) is part of Formula Investment House Ltd., which was created by a group of bankers and Forex dealers in 1996. In 2004, the company introduced its trading platform, and in 2010 received a license from the BVI FSC (SIBA/L/13/1060), the British Virgin Islands Financial Services Commission. Nowadays, the broker seeks to ensure full protection of its clients’ capital and brings to the table the most favorable conditions for active trading.
We've identified your country as
US
We have thoroughly analyzed all companies legally providing trading services in your country and created a ranking of the best ones. Our analysis highlights companies that offer optimal working conditions, uphold a strong reputation, and consistently receive the highest number of positive reviews from traders on our website.
Explore the 5 top-rated companies in
US :
- 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 Advice
Financial expert and analyst at Traders Union
The iFOREX broker provides its clients with direct access to international financial markets, including Forex, stocks, commodities, and indices. The broker allows hedging and the addition, modification, and removal of stop-limit orders for all instruments, even when the market is closed. The presence of the company's offices worldwide makes it possible to support traders in more than ten languages.
The brokerage company iFOREX offers traders an innovative platform with a user-friendly interface, constantly updated financial news, and 24/7 support. The company monitors the security of its customers' data. Therefore, the transmission of confidential information is carried out through encryption systems such as firewalls and the SSL (Secure Socket Layering) cryptographic protocol.
The company's website is presented in 11 versions. All information is presented in simple words, so even a beginner can understand it. The company promises to provide customers with interactive support, but, unfortunately, the answers to questions do not appear on the site itself but come by mail within 24 hours.
- You prioritize leverage. iFOREX offers high leverage, reaching up to 1:400 on some instruments. This can be appealing to experienced traders comfortable with margin trading.
- You want a wide range of tradable assets. iFOREX provides access to forex, commodities, indices, shares, ETFs, and cryptocurrencies, offering diversification options for your trading portfolio.
- You value strong regulatory oversight. iFOREX is regulated by the British Virgin Islands' Financial Services Commission (FSC), which is not considered a top-tier financial authority by some investors.
- You are looking for low spreads and low minimum deposit as iFOREX has a relatively high spread, starting from 1.8 pips, and The minimum deposit with iFOREX is $100.
iFOREX Trading Conditions
💻 Trading platform: | iFOREX authoring platforms (web terminal and mobile version) |
---|---|
📊 Accounts: | Demo, Real, Swap-free |
💰 Account currency: | USD only |
💵 Deposit / Withdrawal: | Bank transfer, VISA / Mastercard, Neteller, Skrill, Bitcoin |
🚀 Minimum deposit: | $100 |
⚖️ Leverage: | Up to 1:400 |
💼 PAMM-accounts: | No |
📈️ Min Order: | 0.01 |
💱 EUR/USD spread: | 0,1 pips |
🔧 Instruments: | 90 currency pairs, commodities, indices, ETFs, and crypto-based CFDs |
💹 Margin Call / Stop Out: | Not indicated |
🏛 Liquidity provider: | London Stock Exchange, German Stock Exchange, Italian Stock Exchange |
📱 Mobile trading: | yes |
➕ Affiliate program: | Yes |
📋 Order execution: | Market execution |
⭐ Trading features: | VIP clients trade with reduced spreads |
🎁 Contests and bonuses: | Trading bonus, cashback, bonus up to 50% on the first deposit |
The iFOREX trading conditions are adapted for professional traders. There is only one real account so the client cannot choose the best conditions for himself. The deposit starts at $100, and there are no cent accounts or the ability to copy transactions of other traders. The broker does not provide MetaTrader 4 and MetaTrader 5 platforms, which are often preferred by newcomers to Forex. Account currency is in USD only.
iFOREX Key Parameters Evaluation
Video Review of iFOREX
Share your experience
- Best
- Last
- Oldest
Trading Account Opening
To start trading Forex with the iFOREX broker, you must open a real account. This is the procedure:
Register on the broker's website using the "Register" or "Join" buttons. Enter your name, surname, phone number, email in the registration form, enter the generated security code. A password will appear on the screen: save it for authorization.


Enter your Account, enter your login (email) and password. The web terminal is integrated into the personal account. To start trading, make a deposit and click the "Trade" button. Before replenishing the deposit, be sure to provide scanned copies of documents for identification.
The following functions will be available in your personal account:




In the personal account, the user will find:
-
real-time quotes;
-
charts and trading signals;
-
price alerts for selected financial instruments;
-
account statements and activity log.
Regulation and safety
iFOREX 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 29 years
- Strict requirements and extensive documentation to open an account
iFOREX Regulators and Investor Protection
Abbreviation | Full Name | Country of regulation | Investor Protection Fund | Regulation Level |
---|---|---|---|---|
![]() |
British Virgin Islands Financial Services Commission | British Virgin Islands | No specific fund | Tier-2 |
|
Cyprus Securities and Exchange Commission | Cyprus | Up to €20,000 | Tier-1 |
iFOREX Security Factors
Foundation date | 1996 |
Negative balance protection | Yes |
Verification (KYC) | Yes |
Commissions and fees
The trading and non-trading commissions of broker iFOREX have been analyzed and rated as Medium with a fees score of 7/10. Additionally, these commissions were compared with those of the top two competitors, Pepperstone and OANDA, to provide the most comprehensive information.
- Tight EUR/USD market spread
- No deposit fee
- No withdrawal fee
- Above-average Forex trading fees
- Inactivity fee applies
Trading Fees and Spread
Below, we evaluated and compared the trading commissions of iFOREX with those of two competitors. We focused on the spreads and other transaction fees directly associated with executing trades (e.g commission per lot on an ECN account). This comparison aimed to provide a clear understanding of the cost efficiency of each broker.
Standard Account Spread
For Standard accounts, iFOREX’s commissions are part of the floating spread, which varies with market conditions. Typical values are provided, but during high volatility, the spread may exceed these.
iFOREX Standard spreads
iFOREX | Pepperstone | OANDA | |
EUR/USD min, pips | 0,6 | 0,5 | 0,1 |
EUR/USD max, pips | 0,9 | 1,5 | 0,5 |
GPB/USD min, pips | 0,6 | 0,4 | 0,1 |
GPB/USD max, pips | 1 | 1,4 | 0,5 |
RAW/ECN Account Commission And Spread
The spread on ECN/RAW accounts is market-based and fluctuates, with average values given during active hours. It may vary during volatility spikes. A commission per lot is also charged.
iFOREX RAW/ECN spreads
iFOREX | Pepperstone | OANDA | |
Commission ($ per lot) | 5 | 3 | 3,5 |
EUR/USD avg spread | 0,1 | 0,1 | 0,15 |
GBP/USD avg spread | 0,15 | 0,15 | 0,2 |
Non-Trading Fees
We conducted a detailed analysis of the non-trading fees associated with iFOREX. This review offers a comprehensive overview of the additional costs that may impact traders beyond regular trading activities.
iFOREX Non-Trading Fees
iFOREX | Pepperstone | OANDA | |
Deposit fee, % | 0 | 0 | 0 |
Withdrawal fee, % | 0 | 0 | 0 |
Withdrawal fee, USD | 0-20 | 0 | 0-15 |
Inactivity fee ($, per month) | 5 | 0 | 0 |
Account types
The iFOREX broker offers only one live account. Its conditions are suitable for experienced traders who use medium and long-term trading strategies.
Types of accounts:
The iFOREX broker is a professional trading broker. It is distinguished by its reliability and a wide range of trading instruments. However, it imposes restrictions on the use of popular strategies.
Deposit and withdrawal
iFOREX received a Medium score for the efficiency and convenience of its deposit and withdrawal processes.
iFOREX provides a reasonable range of deposit and withdrawal options with moderate fees, in line with industry standards.
- Supports 5+ base account currencies
- Low minimum withdrawal requirement
- BTC available as a base account currency
- No deposit fee
- Wise not supported
- Limited deposit and withdrawal flexibility, leading to higher costs
- PayPal not supported
What are iFOREX deposit and withdrawal options?
iFOREX provides a basic range of deposit and withdrawal options, covering essential methods in line with industry standards. This set of options is sufficient for most traders, with available methods Bank Card, Bank Wire, Skrill, Neteller, BTC, USDT, Ethereum.
iFOREX Deposit and Withdrawal Methods vs Competitors
iFOREX | Plus500 | Pepperstone | |
Bank Wire | Yes | Yes | Yes |
Bank card | Yes | Yes | Yes |
PayPal | No | Yes | Yes |
Wise | No | No | No |
BTC | Yes | No | No |
What are iFOREX base account currencies?
A wide range of base account currencies minimizes the need for currency conversion, potentially reducing transaction costs for clients worldwide. iFOREX supports the following base account currencies:
What are iFOREX's minimum deposit and withdrawal amounts?
The minimum deposit on iFOREX is $100, while the minimum withdrawal amount is $100. These minimums may vary depending on the chosen account type and payment method. For specific details, please contact iFOREX’s support team.
Markets and tradable assets
iFOREX 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.
- 750 assets for trading
- ETFs investing
- Crypto trading
- Futures not available
- Copy trading not available
Supported markets vs top competitors
We have compared the range of assets and markets supported by iFOREX with its competitors, making it easier for you to find the perfect fit.
iFOREX | Plus500 | Pepperstone | |
Currency pairs | 90 | 60 | 90 |
Total tradable assets | 750 | 2800 | 1200 |
Stocks | Yes | Yes | Yes |
Commodity futures | Yes | Yes | Yes |
Crypto | Yes | Yes | Yes |
Stock indices | Yes | Yes | Yes |
Options | No | Yes | No |
Investment options
We also explored the trading assets and products iFOREX offers for beginner traders and investors who prefer not to engage in active trading.
iFOREX | Plus500 | Pepperstone | |
Bonds | No | No | No |
ETFs | Yes | Yes | Yes |
Copy trading | No | No | Yes |
PAMM investing | No | No | Yes |
Managed accounts | No | No | No |
Customer support
Support specialists are available 24 hours a day, five days a week.
Advantages
- Opportunity to get help from technical support through the remote access program
- Multilingual support
Disadvantages
- Closed on weekends
- Online chat does not allow you to receive a response in real-time. It comes to your email.
- Not all mobile operators support the format of the indicated numbers
- There is no feedback form for ordering a call
The broker offers several ways to contact support:
-
Ability to communicate directly with support is provided:
-
by local phone numbers as indicated on the website;
-
by email;
-
in the online chat on the broker's website.
Contacts
Foundation date | 1996 |
---|---|
Registration address | 1 Wickham's Cay, Road Town, Tortola, BVI VG1110, Limassol, Cyprus |
Regulation | BVI FSC |
Official site | iforex.com |
Education
The broker's website has several sections that contain training materials, such as: Trading Instruments, general training, and videos on trading. In the iFOREX Support Center section, professionals and beginners will find tons of Forex information in English.
Only users registered on the broker's website can view the Training section.
Comparison of iFOREX with other Brokers
iFOREX | Eightcap | XM Group | RoboForex | Exness | InstaForex | |
Trading platform |
iFOREX authoring platforms | MT4, MT5, TradingView | MT4, MT5, MobileTrading, XM App | MT4, MT5, R MobileTrader, R StocksTrader, R WebTrader | Exness Trade App (mobile), Exness Terminal (web), MetaTrader5, MetaTrader4 | MT4, MultiTerminal, MobileTrading, MT5, WebTrader |
Min deposit | $100 | $100 | $5 | $10 | $10 | $1 |
Leverage |
From 1:1 to 1:400 |
From 1:30 to 1:500 |
From 1:1 to 1:30 |
From 1:1 to 1:2000 |
From 1:1 to 1:2000 |
From 1:1 to 1:1000 |
Trust management | No | No | No | No | No | Yes |
Accrual of % on the balance | No | No | No | 10.00% | No | No |
Spread | From 1.8 point | From 0 points | From 0.8 points | From 0 points | From 0 points | From 0 points |
Level of margin call / stop out |
1% / 1% | 80% / 50% | 100% / 50% | 60% / 40% | 60% / No | 30% / 10% |
Order Execution | Market Execution | Market Execution | Market Execution | Market Execution, Instant Execution | Market Execution, Instant Execution | Instant Execution |
No deposit bonus | No | No | No | No | No | No |
Cent accounts | No | No | No | Yes | Yes | Yes |
Detailed Review of iFOREX
The iFOREX broker strives to create ideal trading conditions in the financial market for its clients. The company offers innovative proprietary trading platforms, real-time quotes, and high market liquidity. The broker operates under the PCI DSS (Payment Card Industry Data Security Standard) standard, which guarantees the safety of clients' data without transferring them to third-party resources. All iFOREX customers are protected from a negative balance.
A few impressive figures about the iFOREX broker, which are posted on its website:
-
the broker has 8 million traders from 120 countries;
-
the broker carries out more than 35 thousand trading operations per day;
-
it has been working in the international market for over 20 years.
The iFOREX broker caters to active traders.
The iFOREX broker provides various financial products for trading, including spot operations in foreign exchange, CFDs, and commodities. The company's customers get direct, 24/5 access to experienced dealers, competitive prices, and the ability to quickly close transactions. VIP clients who have made a deposit of $5000 or more trade with reduced spreads and receive real-time market signals and cashback for each transaction. All traders have the opportunity to undergo free personal training "one-on-one" and may order a course for a beginner or advanced Forex trader.
The broker's clients work from mobile terminals and the iFOREX proprietary web platform. Their user-friendly interfaces allow you to trade more than 800 instruments, execute transactions in one click, close transactions with one touch and customize the work interface. There is no desktop version of the authoring terminal. The company does not provide the popular MT4 and MT5.
Useful iFOREX services:
-
Advanced Trading Signals. Sending the latest news, trends, and information about the market movement directly to the trader's mobile device;
-
Economic calendar. Section with information about significant events with the ability to sort by date, country, importance;
-
Real quotes. Real-time quotes for all financial instruments.
Advantages:
BVI FSC license: British Virgin Islands Financial Services Commission;
six asset classes: currencies, commodities, indices, stocks, ETFs, and cryptocurrencies;
protection against negative balance;
a wide variety of bonus and affiliate programs;
various types of free training; courses from professional traders, including "one-on-one" instructions;
the site is translated into 11 languages.
Scalping, algorithmic trading using electronic advisors (EAs), automated API trading is prohibited. The possibility of hedging is provided.
Latest iFOREX News
Articles that may help you
Check out our reviews of other companies as well
User Satisfaction i