iFOREX Review

Richard Montana | March 27, 2022

iFOREX is a multinational group of online trading companies founded in 1996. With their innovative and user-friendly web and mobile platforms, they offer forex and CFDs in commodities, shares, indices, ETFs, and cryptocurrency.

Broker Pros / Cons
  • Regulated
  • Negative balance protection
  • Lots of educational materials
  • No MT4 or MT5 platform
  • Limited account types
  • Relatively high spreads with mark-ups
  • Limited funding options


Founded in 1996, the iFOREX Group is an online brokerage firm with many years experience in forex and CFD trading. With subsidiaries that are regulated in the UK, Cyprus, Hungary, and the British Virgin Islands, they serve clients from different parts of the world.

iFOREX Broker Features

iFOREX Broker Features

The broker offers over 800 instruments, including currency pairs, commodities, indices, shares, ETFs, and cryptos, through their web and mobile trading platforms. However, they do not provide the popular MetaTrader platforms and have limited account types.


The iFOREX Group has many subsidiaries that operate in different jurisdictions, and they include Formula Investment House Ltd., Black Pearl Securities Limited, eBrókerház Befektetési Szolgáltató Zrt, and the iFOREX Group’s European Subsidiary.

Formula Investment House Ltd is an investment firm registered in the British Virgin Islands. It is licensed and regulated by the British Virgin Islands’ Financial Services Commission (BVIFSC), which is considered by many experts as a tier 3 financial regulator.

Black Pearl Securities Limited is an investment firm authorized and regulated by the Financial Conduct Authority (FCA), with Financial Services Register Number 688456. Being an FCA-regulated brokerage firm, Black Pearl Securities Limited should be a member of the Financial Services Compensation Scheme (FSCS) — which insures eligible clients’ funds up to £20,000.

The iFOREX Group’s European subsidiary is registered as a Cyprus Investment Firm, so they are licensed and regulated by the Cyprus Securities and Exchange Commission (CySEC) under license number: 143/11. They are a member of the Investor Compensation Fund (ICF), which can provide compensation for eligible retail traders (up to EUR 20,000) in the event that the broker goes bankrupt.

eBrókerház Befektetési Szolgáltató Zrt is an investment firm registered in Hungary. It is authorized and supervised by the National Bank of Hungary under licenses number: II/73.059/2000 and III/73.059-4/2002

Through their different subsidiaries, iFOREX provides trading services to clients from different parts of the world. The European subsidiary serves clients from the EU member states; the Hungarian firm serves clients from that country; the FCA-regulated firm serves clients from the UK and Europe; while the BVI-based firm offers trading services to international clients from Asia, Africa, and the Americas. The broker does not serve residents of the US and Canada.


iFOREX provides their clients with easy-to-use web and mobile trading platforms.

Web-based Platform

iFOREX web-based platform is geared to suit the needs of traders who like to always access a variety of trading and charting features on their trading computers. The platform needs no downloading and installation, and it can work on any standard web browser, such as Google Chrome, Firefox, and Safari. It comes with the 128-bit secure SSL environment and firewall access management.

iFOREX WebTrading Platform

iFOREX WebTrading Platform

Mobile Trading Platform

The broker also provides the mobile application of their trading platform to help their clients trade on the go. The app is customizable and easy to use, with execution gestures like the Swipe-to-Close function and complete access to the wallet, balance sheet, equity, and margin details. With the app, traders can quickly place trades and monitor their positions on their phones.

iFOREX Mobile Trading Platform

iFOREX Mobile Trading Platform


Economic Calendar

iFOREX provides their clients with an economic calendar that is updated on a daily basis. The calendar has the timetable of the important scheduled economic data releases, announcements, and events.

iFOREX Economic Calendar

iFOREX Economic Calendar


iFOREX gives their clients direct access to advanced trading charts and market indicators, which are customizable, easy to use, and allow multiple timeframe analysis for easy identification of trade setups. The charts allow for the overlay of multiple indicators for every currency pair or commodity.

iFOREX Charts

iFOREX Charts

Advanced Trading Signals

The broker provides their clients with live trading signals from an independent signal provider. It should be noted that there is no guarantee on the performance of results when copying trading signals. You should have a clear understanding of the significant risks involved with trading online.

iFOREX Trading Signals

iFOREX Trading Signals


Educational E-Books

iFOREX has specialty education guides that provide traders with relevant information to start trading forex and CFDs online. Each unique learning guide is easy-to-read for traders at every experience level. There is also a glossary of trading terminology on their ‘Learn the Lingo’ page.

iFOREX Educational E-Books

iFOREX Educational E-Books

The A-Z of Forex Trading

The broker has a comprehensive video course that can help traders of all levels, regardless of their previous trading experience. All videos can be seen on their website after registration.

Short Video Tutorials

There are also short video tutorials that briefly explain some of the important aspects of trading, including candlestick patterns and support and resistance levels. They can help traders refresh their memories on such topics.

iFOREX Trading Video Tutorials

iFOREX Trading Video Tutorials


iFOREX offers trading in over 800 instruments spread across six asset classes, including currencies, commodities, indices, shares, cryptos, and ETFs.

  • Currencies: They offer many currency pairs, including the major FX pairs, minor FX pairs, and exotic FX pairs.
  • Commodities: Available commodities are gold, silver, WTI oil, natural gas, coffee, platinum, sugar, soybeans, corn, copper, gasoline, Brent oil, cotton, and many others. The commodities can be traded in the form of a CFD or Spot, depending on the commodity and where permitted by local regulations.
  • Indices: The broker offers CFD trading in the world’s major stock indices, such as the US 30, US 500, US Tech 100, UK 100, Japan 225, France 40, Germany 30, Europe 50, and others.
  • Shares: With iFOREX, you can trade leveraged positions on some of the world’s most popular shares, such as Apple, Amazon, Facebook, Microsoft, Coca-Cola, and others.
  • Cryptocurrency: The broker offers CFD trading in several cryptocurrencies, including Bitcoin, Litecoin, Ripple, and Ethereum.
  • ETFs: You can trade several ETF CFDs with this broker.


iFOREX offers a standard mini account which requires a minimum deposit of $100 and a VIP account where the minimum transaction size is $2,500 (or the equivalent), with up to 30:1 leverage (the maximum leverage permitted under ESMA).

iFOREX do not charge any commission for opening positions, though there is a spread between the buy and sell rates which has a mark-up to cover broker costs.


iFOREX offers a multilingual customer support service that can be reached via multiple channels, including emails, online chat, phone calls, Fax, and an online contact form. The customer service team are available from Monday to Friday, 04:00 to 20:00 GMT, to provide you with immediate support during trading hours.

Apart from the general phone lines, there are contact phone numbers for different countries. You can also reach them via their social media handles on Facebook, Twitter, LinkedIn, and YouTube.


iFOREX facilitates deposits made both online and offline to make things convenient for their clients. They accept a wide variety of options for funding your account or making a withdrawal:

  • Bank Wire Transfer: Making a deposit or withdrawing from your account through bank transfers usually takes a few days to process.
  • Credit/Debit Cards: The broker accepts MasterCard, Diners, and Visa cards. Deposit is instant, but withdrawal may take some time to be processed.
  • Online wallets (APMs): Available e-wallets include NETELLER and Skrill. Depositing via the e-wallets is always fast — processed within a few minutes — but withdrawals may take longer.
  • Western Union: The broker also accepts payment through Western Union. Payments through this channel may take a few days to process.
iFOREX Payment Methods

iFOREX Payment Methods

Some fees may be charged when using certain payment methods. Withdrawal requests are processed within the same day or next if outside working hours. The withdrawal time can vary depending on the payment provider and method. Bank transfers may take a few business days to clear whilst some methods can be instant.

Some payment systems may have transaction limits, restrictions, and requirements which are indicated on their respective websites. You may need to verify your account to remove limits on particular methods in some countries. iFOREX strictly does not accept third-party payments. All funds deposited into your trading account must be under the same name as your iFOREX trading account.

Accounts can be opened USD, EUR, GBP. The different currency options are beneficial as currency conversion fees do not apply when using an account in your own currency.


Opening an account with iFOREX is very simple. Just go to the iFOREX website and click on the “Register” link located at the top right corner of the homepage. Complete the form displayed by filling in your details (Email, first and last name, phone, and country):

iFOREX Account Registration

iFOREX Account Registration

Then, click “Continue”. You will be redirected to the next page where you can read and agree to the Trading Agreement and then fill in the Captcha Code. Click “Accept and Continue”. Thereafter you will see your Username and Password. Click on the “Login” button to enter the trading platform. You will be required to upload your KYC documents — Proof of Identity and Proof of Address, which may take a while to verify.


Compare Broker (vs Our Top 3 Brokers)
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CountryAustralia, Ireland, South Africa, Japan, British Virgin IslandsAustralia, UK, USA, Switzerland, UAE, Singapore, JapanAustralia, Seychelles, Bahamas, Cyprus
Min. DepositMin $250 DepositMin $100 DepositMin $200 Deposit
CommissionFrom $0From $0From $0
InstrumentsForex, Commodities, Cryptocurrency, Stocks, Shares, Indices, Metals, Energies, Options, Bonds, CFDs, ETFsForex, Commodities, Stocks, Shares, Indices, Cryptocurrencies, Metals, Energies, Options, Bonds, ETFs, CFDsForex, Commodities, Cryptocurrency, Stocks, Shares, Indices, Metals, Energies, Bonds, CFDs
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TypeMarket Maker, STPSTP, ECN, DMAECN
FundingWire Transfer, Credit/Debit Card, Paypal, WebMoney, Neteller, SkrillWire Transfer, Credit/Debit Cards, PayPalWire Transfer, Credit Card, Debit Card, WebMoney, Neteller, PayPal, Skrill, FasaPay, UnionPay, Qiwi, Bpay, Poli
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The iFOREX Group is an online brokerage firm with several subsidiaries that are regulated in different jurisdictions. The UK, Cyprus, and Hungarian subsidiaries serve clients from the European Economic Area, while the BVI-based firm serves international clients from Asia, Africa, and the Americas.

The broker offers over 800 instruments — spread across forex, commodities, indices, shares, ETFs, and cryptos — through their web and mobile trading platforms. However, they don’t offer the popular MetaTrader platforms and spreads are not the lowest when compared to some of the best brokers.


Min $100 Deposit

Founded in 1996, iFOREX is a group of online trading companies with intuitive & user-friendly trading platforms. They offer Forex & CFDs in commodities, shares, indices, ETFs, & cryptocurrency.

Between 74-89% of retail investor accounts lose money when trading CFDs with this provider.

About the Author

Richard Montana
Richard has many years of experience in broker research, testing, analysis and reviews. He knows what to look for through years of trading himself with different brokers and listening to the feedback of others.

Review Methodology

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