iFOREX Review 2024
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| iFOREX is a multi-regulated forex & CFD broker with millions of clients worldwide | ||
iFOREX is broker that provides access to Forex, CFDs, indices, shares, commodities, cryptocurrencies, ETFs. Surprisingly, iFOREX does not support either of the enormously popular MetaTrader 4 and MetaTrader 5 platforms.
In terms of features offered to traders, iFOREX has Demo Accounts, Islamic Accounts and Signals but is missing Social Trading and Auto Trading.
Cryptocurrency traders have a very decent number of coins to trade at iFOREX, 7 in fact: BTC, LTC, ETH, XRP, EOS, XMR and DASH.
Careful traders will be reassured knowing that iFOREX is licensed to offer trading services by several regulators, 3 in fact, including the FCA.
iFOREX Summary
iFOREX is a multi-regulated forex & CFD broker with millions of clients worldwide
iFOREX is #92 in our rankings of CFD brokers.
Ratings
| Bonus | None |
|---|---|
| Instruments | Forex, CFDs, indices, shares, commodities, cryptocurrencies, ETFs |
| Demo Account | ✓ Yes |
| Min. Deposit | $100 |
| Min. Trade | 0.01 Lots |
| Regulated By | CySEC, FCA, BVI |
| MetaTrader 4 | ✗ |
| MetaTrader 5 | ✗ |
| cTrader | ✗ |
| DMA Account | ✗ |
| ECN Account | ✗ |
| Mobile Apps | ✓ |
| Auto Trading | ✗ |
| Trade Signals | ✓ |
| Social Trading | ✗ |
| Copy Trading | ✗ |
| Islamic Account | ✓ |
| Commodities |
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CFD Trading
iFOREX offers hundreds of CFDs on FX, indices, shares, commodities, and cryptocurrencies
| Leverage | 1:30 |
|---|---|
| FTSE Spread | 2.4 |
| GBPUSD Spread | 2.8 |
| Oil Spread | 5.4 pips |
| Stocks Spread | Variable |
Forex Trading
iFOREX offers trading on approaching 100 currencies from around the world
| GBPUSD Spread | 1.8 |
|---|---|
| EURUSD Spread | 1.8 |
| EURGBP Spread | 2.8 |
| Assets | 90 |
Cryptocurrency Trading
iFOREX offers trading on popular cryptocurrency coins
| Spread | Variable |
|---|---|
| Coins | BTC, LTC, ETH, XRP, EOS, XMR, DASH |
Payment Methods
iFOREX accepts the following payment methods:
FAQ
Is iFOREX Safe?
Yes, most likely, as we gave iFOREX a trust score of 45% in this review. The main positive factor in this score is that iFOREX is regulated by our own FCA here in the UK. However, very careful traders might want to find an alternative in our top list of UK brokers.
Does iFOREX Accept PayPal?
Yes, iFOREX does accept PayPal payments.
Is iFOREX Halal?
Yes, iFOREX does offer an Islamic trading account and should thus be Halal to trade with.
Is iFOREX Regulated in the UK?
Yes, iFOREX is regulated by the FCA here in the UK.
Is iFOREX Regulated?
Yes, iFOREX is regulated by 3 different regulators: CySEC, FCA and BVI. Most importantly, they're regulated by our own strong FCA here in the UK.
Top 3 iFOREX Alternatives
These brokers are the most similar to iFOREX:
- IG Index - Founded in 1974, IG is part of IG Group Holdings Plc, a publicly traded (LSE: IGG) brokerage. The brand offers spread betting, CFD and forex trading across an almost unrivalled selection of 17,000+ markets, with a range of user-friendly platforms and investing apps. For 50 years, IG has maintained its position as an industry leader, excelling in all key areas for traders.
- XTB - Founded in 2002 in Poland, XTB now serves more than 1 million clients. The forex and CFD broker combines a heavily regulated trading environment with an extensive selection of 6400+ assets and a commitment to trader satisfaction, featuring an intuitive in-house platform with superb tools to support aspiring traders.
- CMC Markets - Established in 1989, CMC Markets is a respected broker listed on the London Stock Exchange and authorized by several tier-one regulators, including the FCA, ASIC and CIRO. More than 1 million traders from around the world have signed up with the multi-award winning brokerage.
iFOREX Feature Comparison
| iFOREX | IG Index | XTB | CMC Markets | |
|---|---|---|---|---|
| Rating | 1.5 | 4.7 | 4.8 | 4.7 |
| Markets | Forex, Stocks, Commodities, Crypto | Forex, Stocks, Commodities | Forex, Stocks, Commodities, Crypto | Forex, Stocks, Commodities |
| Minimum Deposit | $100 | $0 | $0 | $0 |
| Minimum Trade | 0.01 Lots | 0.01 Lots | 0.01 Lots | 0.01 Lots |
| Demo Account | Yes | Yes | Yes | Yes |
| Regulators | CySEC, FCA, BVI | FCA, ASIC, NFA, CFTC, DFSA, BaFin, MAS, FSCA, FINMA, CONSOB, AFM | FCA, CySEC, KNF, DFSA, FSC | FCA, ASIC, MAS, CIRO, BaFin, FMA, DFSA |
| Bonus | - | - | - | - |
| Education | No | Yes | Yes | Yes |
| Platforms | - | MT4 | - | MT4 |
| Leverage | 1:30 | 1:30 (Retail), 1:222 (Pro) | 1:30 | 1:30 (Retail), 1:500 (Pro) |
| Visit | 69% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money. |
69% of retail CFD accounts lose money. |
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| Review | iFOREX Review |
IG Index Review |
XTB Review |
CMC Markets Review |
Trading Instruments Comparison
| iFOREX | IG Index | XTB | CMC Markets | |
|---|---|---|---|---|
| CFD | Yes | Yes | Yes | Yes |
| Forex | Yes | Yes | Yes | Yes |
| Stocks | Yes | Yes | Yes | Yes |
| Crypto | Yes | No | Yes | No |
| Commodities | Yes | Yes | Yes | Yes |
| Oil | No | Yes | Yes | Yes |
| Gold | Yes | Yes | Yes | Yes |
| Copper | No | Yes | Yes | Yes |
| Silver | No | Yes | Yes | Yes |
| Corn | No | No | Yes | No |
| Futures | No | Yes | No | No |
| Options | No | Yes | No | Yes |
| ETFs | No | Yes | Yes | Yes |
| Bonds | No | Yes | No | Yes |
| Warrants | No | Yes | No | No |
| Spreadbetting | No | Yes | No | Yes |
| Volatility Index | No | Yes | Yes | Yes |
iFOREX vs Other Brokers
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| iFOREX is a multi-regulated forex & CFD broker with millions of clients worldwide | ||