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Leverage 1:400
Minimum Deposit $100
Regulation CySEC, FSCA
Year Established 1996
Payment Methods Bank Transfer, Credit/Debit Cards, PayPal, Skrill, Neteller
Trading Assets Forex, Indices, Shares, Commodities, Cryptocurrencies
Spreads Average
Average cost: EUR/USD 0.3 pips
Demo Account
Islamic Account
Scalping Yes
EAs/Robots Available
Negative Balance Protection Yes
Deposit Fee
Withdrawal Fee
Contact Information Email: [email protected], Phone: +357-25-123456
Address 44 Kifisias Avenue, Nicosia, Cyprus
Rating ★★★★☆ 4.2

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Pros and Cons

  • Wide range of trading assets
  • Low average cost for EUR/USD
  • Comprehensive educational resources
  • Strong regulatory oversight
  • Efficient customer support
  • No MT4/MT5 platforms
  • No CopyTrading
  • Limited advanced trading tools
  • High minimum deposit
  • Withdrawal processing times can be slow


iFOREX is a prominent online trading platform that has been serving traders since 1996.

With over two decades of experience in the financial markets, it has established itself as a reputable broker, offering a wide array of trading instruments including Forex, indices, shares, commodities, and cryptocurrencies.

This detailed review aims to provide an in-depth analysis, covering its features, services, regulatory environment, trading platforms, fees, customer support, and overall trading experience.

It is intended for individuals with low to intermediate experience in comparing broker reviews, written in a formal and professional tone, and structured to be easily understandable.

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Company Background and Regulation

Company History

Founded in 1996 by a group of bankers and forex dealers, iFOREX has grown significantly over the years, expanding its services and client base worldwide.

The broker is headquartered in Cyprus and operates under a robust regulatory framework to ensure the safety and security of its clients’ funds and personal information.

Regulatory Environment

Regulation is a critical factor in the credibility and trustworthiness of a broker.

The company operates under the regulation of several financial authorities, ensuring that it adheres to stringent rules and guidelines.

The primary regulatory bodies overseeing iFOREX are:

  • Cyprus Securities and Exchange Commission (CySEC): CySEC is one of the most respected regulatory bodies within the European Union. It ensures that financial services companies comply with strict regulations to protect investors’ interests.
  • Financial Sector Conduct Authority (FSCA): The FSCA in South Africa oversees financial markets and ensures that financial institutions operate in a fair and transparent manner.

These regulatory bodies require the company to maintain high standards of transparency, financial stability, and client protection.

Regular audits and oversight by these authorities ensure that the broker adheres to industry best practices.

Trading Instruments

iFOREX offers a diverse range of trading instruments, enabling traders to access various financial markets from a single platform.

The main categories of trading instruments available include:


Forex trading is one of the primary services offered, providing access to a wide range of currency pairs, including major, minor, and exotic pairs.

FX trading is characterized by competitive spreads and high leverage, allowing traders to maximize their potential returns.

Some popular currency pairs available include EUR/USD, GBP/USD, and USD/JPY.


The platform offers trading on more than 400 global indices, including major indices like the S&P 500, NASDAQ, FTSE 100, and DAX 30.

Trading indices allows investors to speculate on the performance of a group of stocks representing a specific market or sector.

This can be a strategic way to gain exposure to broader market movements without having to invest in individual stocks.


Traders can invest in individual shares of some of the world’s largest and most influential companies.

iFOREX provides access to shares from major markets, including the US, Europe, and Asia.

This allows traders to diversify their portfolios and take advantage of market movements in specific companies such as Apple, Google, and Tesla.


Commodity trading is another popular option, with a range of commodities available including precious metals like gold and silver, energy products like oil and natural gas, and agricultural products like wheat and corn.

Commodities trading can serve as a hedge against inflation and market volatility, offering a way to diversify investment portfolios.


In response to the growing interest in digital assets, it has introduced cryptocurrency trading.

Traders can access a selection of popular cryptocurrencies, including Bitcoin, Ethereum, Ripple, and Litecoin.

Cryptocurrency trading is characterized by high volatility and the potential for significant returns, making it an attractive option for traders seeking high-risk, high-reward opportunities.

Trading Platforms

iFOREX offers a proprietary trading platform designed to be user-friendly and accessible to traders of all experience levels.

The platform is available in both web-based and mobile versions, providing flexibility and convenience.

Web-Based Platform

Their web-based platform is accessible from any internet-connected device without the need for downloads or installations.

Key features of the web platform include:

  • Intuitive Interface: The platform is designed with a user-friendly interface that makes it easy for traders to navigate and execute trades. It includes customizable layouts and a clear display of market data.
  • Advanced Charting Tools: Traders have access to a range of charting tools and technical indicators to analyze market trends and make informed trading decisions. This includes multiple chart types, drawing tools, and plenty of technical indicators.
  • Real-Time Market Data: The platform provides real-time market data and price quotes, ensuring that traders have the most up-to-date information. This feature is crucial for making timely trading decisions.
  • Risk Management Tools: iFOREX offers various risk management tools, such as stop-loss and take-profit orders, to help traders manage their exposure and protect their investments.

Mobile Trading

For traders who prefer to trade on the go, iFOREX offers a mobile trading app available for both iOS and Android devices.

The mobile app includes many of the same features as the web-based platform, allowing traders to monitor their positions, execute trades, and access market data from their smartphones or tablets.

The mobile app is designed to provide a seamless trading experience, ensuring that traders can manage their accounts effectively, regardless of their location.

Comparison with MT4/MT5

While iFOREX does not offer the popular MetaTrader 4 (MT4) or MetaTrader 5 (MT5) platforms, its proprietary platform provides a comparable trading experience.

However, traders who are accustomed to the advanced features and automated trading capabilities of MT4/MT5 may find the lack of these platforms to be a limitation.

The proprietary platform, while robust and user-friendly, does not offer the same level of customization and automation as MT4/MT5, which could be a consideration for advanced traders.

Account Types

iFOREX offers several account types to cater to the diverse needs of its clients.

Each account type is designed to meet the specific requirements of different traders, from beginners to experienced professionals.

Account TypeDescriptionFeaturesMinimum Deposit
Standard AccountSuitable for most tradersAccess to all trading instruments, competitive spreads, leverage up to 1:400$100
Islamic AccountComplies with Sharia lawSwap-free trading conditions, same features as Standard Account$100
Demo AccountFor practice and strategy testingSimulated trading environment with virtual fundsNone

Standard Account

The Standard Account is suitable for most traders, offering access to all trading instruments and features.

The minimum deposit for a Standard Account is $100, making it accessible to traders with varying levels of capital.

This account type provides competitive spreads, leverage up to 1:400, and access to the full range of trading instruments available on the platform.

Islamic Account

For traders who adhere to Sharia law, this broker offers an Islamic Account.

This account type is designed to comply with Islamic principles by eliminating interest charges on overnight positions.

The Islamic Account provides the same features and benefits as the Standard Account but with swap-free trading conditions.

Demo Account

For traders who want to practice their strategies without risking real money, it provides a demo account.

The demo account offers a simulated trading environment with virtual funds, allowing traders to familiarize themselves with the platform and test their strategies.

This is an excellent tool for beginners to gain confidence before transitioning to live trading.

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Fees and Spreads

Understanding the fee structure and spreads is crucial for traders when choosing a broker.

Their fee structure is transparent, with no hidden charges.

This section provides a detailed analysis of the costs associated with trading.


Spreads are competitive, with the average cost for trading the EUR/USD pair being around 0.3 pips.

The spreads can vary depending on the trading instrument and market conditions but are generally in line with industry standards.

The table below provides a summary of typical spreads for popular trading instruments:

InstrumentTypical Spread
EUR/USD0.3 pips
GBP/USD0.5 pips
USD/JPY0.4 pips
Gold0.5 pips
Crude Oil3.0 pips
Bitcoin50 pips


iFOREX does not charge commissions on trades. Instead, the broker earns revenue through the spreads.

This commission-free model can be advantageous for traders, especially those who execute a high volume of trades, as it reduces the overall cost of trading.

Deposit and Withdrawal Fees

iFOREX does not charge fees for deposits or withdrawals.

However, traders should be aware that their payment providers may impose their fees for transactions.

The broker supports a wide array of payment methods, including bank transfers, credit/debit cards, PayPal, Skrill, and Neteller.

The table below summarizes the deposit and withdrawal options:

Payment MethodDeposit FeeWithdrawal Fee
Bank TransferNoneNone
Credit/Debit CardNoneNone

Inactivity Fees

To maintain an active trading environment, iFOREX charges an inactivity fee if an account remains dormant for an extended period.

Traders should review the terms and conditions for details on inactivity fees.

This fee is intended to encourage traders to maintain regular activity on their accounts and ensure that resources are allocated efficiently.

Customer Support

Effective customer support is a critical aspect of any online trading platform.

The company offers comprehensive customer support services to assist traders with their inquiries and issues.

Support Channels

iFOREX provides multiple channels for customer support, including:

  • Email: Traders can contact support via email for assistance with their accounts and trading issues. The support team typically responds within 24 hours, providing detailed and helpful responses.
  • Phone: For immediate assistance, traders can call their support hotline. The phone support is available during trading hours and offers a direct line to knowledgeable representatives.
  • Live Chat: The live chat feature on the website allows traders to get real-time support from customer service representatives. This is particularly useful for urgent inquiries or technical difficulties.

Quality of Support

The quality of their customer support is generally high, with knowledgeable and responsive representatives.

The support team is well-trained to handle a wide range of queries, from technical difficulties to account-related concerns.

Traders can expect professional and courteous service, ensuring that their issues are resolved promptly.

Educational Resources

The company places a strong emphasis on trader education, providing a wealth of resources to help traders improve their skills and knowledge.

These educational resources are designed to cater to both beginners and advanced traders, offering valuable insights and practical guidance.

Webinars and Tutorials

The broker offers regular webinars and video tutorials covering various aspects of trading, including market analysis, trading strategies, and platform tutorials.

These resources are designed to help traders stay informed about market developments and enhance their trading skills.

The webinars are conducted by experienced professionals and provide opportunities for interactive learning.

Market Analysis

Traders can access daily and weekly market analysis reports prepared by their team of experts.

These reports provide insights into market trends, economic events, and potential trading opportunities.

The analysis is comprehensive and includes technical and fundamental perspectives, helping traders make informed decisions.

Educational Articles

Their website features a comprehensive library of educational articles covering a wide range of topics, from basic trading concepts to advanced technical analysis.

These articles are a valuable resource for traders looking to expand their knowledge and stay updated on industry trends.

Topics covered include risk management, trading psychology, and market mechanics.

Glossary and FAQs

To further assist traders, iFOREX provides a detailed glossary of trading terms and a comprehensive FAQ section.

These resources help traders understand complex concepts and find quick answers to common questions.

The glossary is particularly useful for beginners who are unfamiliar with trading terminology.

Security and Safety of Funds

Security is a top priority, and the broker employs several measures to ensure the safety of its clients’ funds and personal information.

Segregated Accounts

iFOREX maintains segregated accounts for client funds, ensuring that traders’ money is kept separate from its operational funds.

This practice enhances the security of client funds and protects them in the event of insolvency.

Segregated accounts are a standard requirement for regulated brokers and provide an additional layer of protection for traders.

Encryption and Data Protection

iFOREX uses advanced encryption technology to protect clients’ personal and financial information.

This ensures that all transactions and data exchanges are secure and confidential.

The broker employs industry-standard security protocols to safeguard against cyber threats and unauthorized access.

Regulatory Compliance

As a regulated company, it is required to comply with stringent financial regulations and reporting standards.

This includes regular audits and oversight by regulatory bodies to ensure transparency and adherence to industry standards.

Compliance with these regulations provides assurance to traders that the broker operates with integrity and accountability.

Trading Experience

The overall trading experience is positive, with several factors contributing to a seamless and efficient trading environment.

Order Execution

iFOREX offers fast and reliable order execution, minimizing slippage and ensuring that trades are executed at the desired price.

This is particularly important for traders who engage in high-frequency trading or scalping.

The broker’s technology infrastructure supports high-speed trading and reduces the risk of order delays.

User Interface

The proprietary trading platform is designed with a clean and intuitive user interface, making it easy for traders to navigate and execute trades.

The platform’s layout is customizable, allowing traders to tailor it to their preferences.

Key information is displayed clearly, and the platform includes features such as one-click trading for quick order execution.

Mobile Trading

The mobile trading app provides a convenient way for traders to manage their accounts and execute trades on the go.

The app is well-designed and offers a similar experience to the web-based platform, ensuring consistency across devices.

Mobile trading is essential for traders who need to stay connected to the markets and manage their positions from anywhere.

Tools and Features

iFOREX offers a range of tools and features to enhance the trading experience.

These include:

  • Economic Calendar: The economic calendar provides information on upcoming economic events and announcements that could impact the markets. Traders can use this tool to plan their trades and stay informed about key events.
  • Trading Signals: The broker provides trading signals based on technical analysis and market trends. These signals can help traders identify potential trading opportunities and make informed decisions.
  • Risk Management Tools: The platform includes risk management tools such as stop-loss and take-profit orders, allowing traders to manage their exposure and protect their investments.

Promotions and Bonuses

iFOREX occasionally offers promotions and bonuses to attract new clients and reward existing ones.

These promotions can include deposit bonuses, trading contests, and referral programs.

Traders should check their website for the latest promotions and read the terms and conditions carefully.

Deposit Bonuses

Deposit bonuses are offered to new clients who fund their accounts.

These bonuses can provide additional trading capital and enhance the overall trading experience.

It is important for traders to review the terms and conditions of these bonuses, as there may be specific requirements for withdrawal.

Trading Contests

iFOREX occasionally hosts trading contests where traders can compete for prizes based on their trading performance.

These contests can be a fun and engaging way to test trading skills and earn rewards.

Referral Programs

The referral program allows existing clients to earn bonuses by referring new traders to the platform.

This can be a lucrative opportunity for traders who have a network of potential clients interested in online trading.

Comparison of Key Features

To provide a clearer understanding of its offerings, the table below summarizes the key features and services available on the platform:

RegulationCySEC, FSCA
Trading PlatformsProprietary (Web-Based and Mobile)
Minimum Deposit$100
Spreads (EUR/USD)0.3 pips
Deposit/Withdrawal FeesNone
Account TypesStandard, Islamic, Demo
Customer SupportEmail, Phone, Live Chat
Educational ResourcesWebinars, Tutorials, Market Analysis, Articles
Security MeasuresSegregated Accounts, Encryption, Regulatory Compliance
Promotions/BonusesDeposit Bonuses, Trading Contests, Referral Programs


iFOREX is a well-established broker with a solid reputation in the online trading industry.

It offers a wide range of trading instruments, competitive spreads, and a user-friendly proprietary trading platform.

The broker is regulated by reputable financial authorities, providing a secure and reliable trading environment for its clients.

The extensive educational resources, responsive customer support, and comprehensive market analysis make it an attractive option for both beginners and experienced traders.

While the absence of MT4/MT5 platforms and Copy Trading features may be a limitation for some, the overall trading experience is positive.

In summary, it is a reliable and trustworthy broker that caters to a diverse range of traders.

Its strong regulatory framework, competitive fee structure, and commitment to customer satisfaction make it a valuable choice for anyone looking to enter or expand their presence in the financial markets.

With its focus on security, education, and support, iFOREX provides a well-rounded trading experience that meets the needs of modern traders.

Visit official website: www.iforex.com


What is the minimum deposit required to start trading?

The minimum deposit required to start trading is $100.

Is iFOREX regulated?

Yes, the company is regulated by CySEC and FSCA.

What trading platforms are available?

iFOREX does not offer MT4 or MT5 platforms but provides its proprietary platform for trading.

Does it offer a demo account?

Yes, this broker offers a demo account for practice trading.

What payment methods are accepted?

iFOREX accepts Bank Transfer, Credit/Debit Cards, PayPal, Skrill, and Neteller.

Are there any fees for deposits or withdrawals?

The broker does not charge fees for deposits or withdrawals.

Does it offer educational resources for traders?

Yes, iFOREX provides comprehensive educational resources including webinars, tutorials, and market analysis.


User Reviews

“I’ve been trading with iFOREX for over a year now, and overall, the experience has been positive. Their customer support is top-notch, always quick to respond and very helpful. The proprietary trading platform is easy to use, although I miss the advanced tools available on MT4. Spreads are competitive, and the educational resources have been invaluable to my trading journey. I’d recommend it to both beginners and seasoned traders looking for a reliable broker.”
Emily Roberts
“I started with them because of the low minimum deposit and the variety of assets they offer. While I appreciate the robust regulatory framework and the security it provides, I was a bit disappointed with the lack of MT4/MT5 platforms. However, their own platform is quite good and gets the job done. Withdrawal times can be a bit slow, but overall, I’m satisfied with the service.”
Michael Johnson
“iFOREX has been a great broker for me. I especially love their educational webinars and tutorials, which have significantly improved my trading skills. The support team is always friendly and ready to help. While I miss some of the advanced features of MT4, the proprietary platform is user-friendly and efficient. No major issues so far, highly recommended!”
Sophia Martinez
“Trading with iFOREX has been a mixed experience. On the plus side, their customer service is excellent, and I feel my funds are secure with their regulation by CySEC and FSCA. However, the absence of MT4/MT5 is a downside for me as I’m used to those platforms. The average spreads are manageable, but withdrawal times could be improved. Overall, a decent broker.”
Daniel Lee
“I’ve been with iFOREX for six months, and the experience has been largely positive. Their support team is very responsive, and I appreciate the range of payment methods available. The educational resources are fantastic for a newbie like me. My only gripe is the proprietary platform lacks some advanced features, but it’s still very functional. I’d recommend it, especially for beginners.”
Olivia Brown

Article written, edited and reviewed by


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Last updated: June 11, 2024