iFOREX Review 2024
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| iFOREX is a multi-regulated forex & CFD broker with millions of clients worldwide | ||
iFOREX is broker that gives traders 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 pleased to know that iFOREX is licensed to provide trading services by multiple regulatory bodies, 3 in fact, including the FCA.
iFOREX Summary
iFOREX is a multi-regulated forex & CFD broker with millions of clients worldwide
iFOREX is #91 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 our 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 dependable FCA here in the UK.
Top 3 iFOREX Alternatives
These brokers are the most similar to iFOREX:
- Pepperstone - Established in Australia in 2010, Pepperstone is a top-rated forex and CFD broker with over 400,000 clients worldwide. It offers access to 1,300+ instruments on leading platforms MT4, MT5, cTrader and TradingView, maintaining low, transparent fees. Pepperstone is also regulated by trusted authorities like the FCA, ASIC, and CySEC, ensuring a secure environment for traders at all levels.
- 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 | Pepperstone | XTB | CMC Markets | |
|---|---|---|---|---|
| Rating | 1.5 | 4.8 | 4.8 | 4.7 |
| Markets | Forex, CFDs, indices, shares, commodities, cryptocurrencies, ETFs | CFDs, Forex, Currency Indices, Stocks, Indices, Commodities, ETFs, Crypto (only Pro clients), Spread Betting | CFDs on shares, Indices, ETFs, Raw Materials, Forex currencies, cryptocurrencies, Real shares, Real ETFs | CFDs, Forex, Stocks, Indices, Commodities, ETFs, Treasuries, Custom Indices, Spread Betting |
| 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, CySEC, DFSA, CMA, BaFin, SCB | FCA, CySEC, KNF, DFSA, FSC | FCA, ASIC, MAS, CIRO, BaFin, FMA, DFSA |
| Bonus | - | - | - | - |
| Education | No | Yes | Yes | Yes |
| Platforms | - | MT4, MT5, cTrader | - | MT4 |
| Leverage | 1:30 | 1:30 (Retail), 1:500 (Pro) | 1:30 | 1:30 (Retail), 1:500 (Pro) |
| Visit | 75.1% of retail investor accounts lose money when trading CFDs |
69% of retail CFD accounts lose money. |
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| Review | iFOREX Review |
Pepperstone Review |
XTB Review |
CMC Markets Review |
Trading Instruments Comparison
| iFOREX | Pepperstone | XTB | CMC Markets | |
|---|---|---|---|---|
| CFD | Yes | Yes | Yes | Yes |
| Forex | Yes | Yes | Yes | Yes |
| Stocks | Yes | Yes | Yes | Yes |
| Crypto | Yes | Yes | 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 | Yes | Yes | No |
| Futures | No | No | No | No |
| Options | No | No | No | Yes |
| ETFs | No | Yes | Yes | Yes |
| Bonds | No | No | No | Yes |
| Warrants | No | No | 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 | ||