- Personal 1-On-1 Coaching in Native Language
- Proprietary Platform for Smooth Trading
- 25+ Years of Industry Experience
- Generous Bonus Offers for Traders
- Comprehensive Educational Resources
- No Support for MetaTrader Platform
- Inactivity Fees After 12 Months
Trust and Safety
iFOREX takes extensive measures to ensure trust and security for its users. The broker is licensed by the BVI Financial Services Commission and operates under the regulatory oversight of CySEC and MiFID, providing traders with the assurance that their funds are safe and the platform is continuously audited. To prevent fraud, iFOREX uses encryption services such as Secure Socket Layering (SSL) and firewalls to safeguard sensitive information. Client fund security is a top priority, with measures like segregated bank accounts that keep customer funds separate from company capital. Additionally, negative balance protection ensures that clients can never lose more than their initial investment, even during extreme market volatility, while real-time margin protection helps prevent negative account balances.
|
Regulatory Body |
Status |
|
ASIC |
No |
|
CySEC |
Yes |
|
DFSA |
No |
|
EFSA |
No |
|
FCA |
No |
|
FMA |
No |
|
FSA (SC) |
No |
|
FSCA |
No |
|
FSC |
Yes |
|
JFSA |
No |
|
MAS |
No |
|
MiFID |
Yes |
Tradable Instruments
|
Trading Instrument |
Available |
|
COMMODITIES |
Yes |
|
CURRENCIES |
Yes |
|
CRYPTOCURRENCIES |
Yes |
|
ETF |
Yes |
|
FUTURES |
No |
|
INDICES |
Yes |
|
STOCKS |
Yes |
|
BONDS |
No |
|
OPTIONS |
No |
Account Types
iFOREX provides two main account types designed to cater to both new and experienced traders. The Trading Account offers full market access, equipped with charts, real-time updates, and a user-friendly interface, making it ideal for traders ready to dive into the markets. For those who prefer a risk-free environment to practice their strategies, the Demo Account is a perfect fit. It allows users to test the platform and open trades without financial risk. Additionally, iFOREX offers an Islamic Account, which complies with Sharia law, and all accounts come with segregated accounts for enhanced security. The platform is suitable for beginners and professionals alike, with a minimum deposit of $100, making it accessible to a broad range of traders.
|
Account Type |
Available |
|
DEMO ACCOUNT |
Yes |
|
ISLAMIC ACCOUNT |
Yes |
|
SEGREGATED ACCOUNT |
Yes |
|
MANAGED ACCOUNT |
No |
|
SUITABLE FOR BEGINNERS |
Yes |
|
SUITABLE FOR PROFESSIONALS |
Yes |
|
US TRADER |
No |
Commission and Fees
iFOREX offers traders a straightforward fee structure with no hidden charges, making it a suitable choice for those looking for transparency. Below is a breakdown of its commission and fees.
Account Minimum
iFOREX requires a minimum deposit of $100 to open an account, making it accessible to a wide range of traders.
Trading Fees
iFOREX does not charge any trading fees apart from spreads, which vary depending on the instrument.
CFD Fees
There are no specific CFD fees charged by iFOREX.
Forex Fees
iFOREX does not charge any direct forex fees, except for Overnight Financing, which may apply based on relevant interest rates.
Futures Fees
iFOREX does not charge any futures fees.
Account Fee
There are no account maintenance fees charged by iFOREX.
Inactivity Fee
An inactivity fee applies only after 12 consecutive months of no activity, which is more generous compared to other brokers that charge after 1 or 3 months.
Deposit Fee
iFOREX does not charge any deposit fees.
Withdrawal Fee
While iFOREX does not charge withdrawal fees, up to $20 may be charged by the payment method provider.
Overnight Funding Fee
Overnight Financing fees apply to Forex CFDs, calculated based on interest rates and a mark-up.
Currency Conversion Fee
Currency conversion fees may apply when funding or withdrawing in a currency different from the account’s base currency.
Guaranteed Stop Order Fee
iFOREX does not charge a guaranteed stop order fee.
Trading Platforms
Mobile Trading Apps
iFOREX provides mobile trading through its FXnet app, available on both Android and iOS, allowing traders to access their accounts and make trades on the go.
Web Trading Apps
The FXnet platform is also available via web, offering full functionality without requiring any software downloads, making it convenient for traders who prefer a browser-based experience.
Desktop Trading Apps
iFOREX does not currently offer a desktop trading platform, focusing instead on mobile and web solutions to meet the needs of its diverse user base.
|
Trading Platform |
Available |
|
FXnet |
Yes |
|
MT4 |
No |
|
MT5 |
No |
|
CTRADER |
No |
|
PROPRIETARY |
Yes |
|
Desktop and Web Platform |
Available |
|
DESKTOP WINDOWS |
No |
|
DESKTOP MAC |
No |
|
WEB PLATFORM |
Yes |
|
Mobile Platform |
Available |
|
ANDROID |
Yes |
|
iOS |
Yes |
Customer Support
iFOREX offers comprehensive customer support to ensure traders have assistance when needed. The broker provides multiple support channels, including chat, email, phone, and WhatsApp, making it easy for users to reach out regardless of their preferred method of communication. Available from Monday to Friday, 04:00-20:00 GMT, iFOREX ensures that support is accessible throughout the trading week. With a dedicated team ready to assist traders in multiple languages, iFOREX goes the extra mile by offering personalized 1-on-1 coaching during the account opening process. Whether you have technical issues or need guidance on navigating the platform, iFOREX’s customer support team is well-equipped to provide timely and effective solutions.
Deposit and Withdrawals
iFOREX ensures that deposits and withdrawals are simple and efficient for all users.
Deposits:
iFOREX supports various deposit methods, including bank wire transfers, credit cards, debit cards, and eWallets. The broker does not charge any deposit fees, ensuring that traders can fund their accounts without additional costs.
Withdrawals:
Withdrawals are processed based on the original deposit method. Credit card withdrawals may take up to 28 days depending on the vendor, while wire transfers are typically processed within 3 to 5 business days. While iFOREX does not charge withdrawal fees, up to $20 may be levied by the payment provider.
