iFOREX offers commission-free trading across 6 asset classes, including Forex, Crypto, and ETFs. The broker pays up to $300 in referral commissions. It’s the official partner of PSV Eindhoven football club.
iFOREX; The Broker's Information and Regulation
iFOREX is a brand name of iFOREX Group, founded in 1996 in Cyprus. The broker operates in 100+ countries.

The company operates through two brands in different jurisdictions with various licenses, including:
- iFOREX: Regulated by the British Virgin Islands’ Financial Services Commission (BVIFSC) with certificate No. SIBA/L/13/1060
- iFOREX Europe: Regulated by the Cyprus Securities and Exchange Commission (CySEC) under license No. 143/11
This iFOREX review will explore the offerings and features of the international branch with a BVIFSC license.
iFOREX Broker Table of Specifications
The company offers negative balance protection and clients’ funds segregation. Let’s see if its offerings can compete with other Forex brokers.
Broker | iFOREX |
Account Types | Real, Demo, Swap-Free |
Regulating Authorities | BVIFSC |
Based Currencies | USD |
Minimum Deposit | $100 |
Deposit Methods | Credit/Debit Cards, Apple Pay, Neteller, Skrill, Paysafecard, Crypto, Voucherry |
Withdrawal Methods | Credit/Debit Cards, Apple Pay, Neteller, Skrill, Paysafecard, Crypto, Voucherry |
Minimum Order | 0.01 lots |
Maximum Leverage | 1:400 |
Investment Options | None |
Trading Platforms & Apps | iFOREX app |
Markets | Forex, Commodities, Indices, Shares, Crypto, ETFs |
Spread | Variable based on the instrument |
Commission | $0 |
Orders Execution | Market |
Margin Call / Stop Out | N/A |
Trading Features | Mobile Trading, Trading Signals |
Affiliate Program | Yes |
Bonus & Promotions | Refer A Friend, Welcome Package |
Islamic Account | Yes |
PAMM Account | No |
Customer Support Ways | Email, Phone, Call back Request, Ticket |
Customer Support Hours | Monday-Friday, 04:00-20:00 GMT |
iFOREX Trading Accounts
The broker primarily offers a Real account catering to diverse clients’ needs. It also allows for swap-free trading through its Islamic account, and you can practice via a Demo account. iFOREX Real account features:
- No commissions
- Maximum Leverage: 400
- Minimum deposit: $100
- Minimum Order Size: 0.01 lots
- Base Currency: USD
Upsides and Downsides
iFOREX has over 25 years of experience and offers free 1-on-1 training with a training coach.

Let’s weigh the broker’s advantages against its disadvantages.
Pros | Cons |
Over 750 tradable instruments | Tier-3 regulation |
Comprehensive learning materials | Lack of transparency about trading accounts |
Exclusive trading tools like Pulse and Trading Signals | High entry barrier ($100) |
Swap-free accounts | No support for advanced platforms like MetaTrader |
iFOREX Broker Sign Up and Verification
The company charges no fees for registering, opening, or closing an account. However, to open a live account, you should deposit the minimum amount required by the broker. The iFOREX registration process is explained in detail in the following sections.
#1 Start the Registration
Visit the official iFOREX website and click “Register” or “Open an Account.” This will redirect you to the main registration form, where the process begins.

#2 Fill in Your Details
Enter these details:
- First and last name
- Mobile number

Create a password, agree to the broker’s terms, and hit “Start Now”. You’ll then confirm your acceptance again by clicking “Accept and Login”.
#3 Access Your Dashboard
Use your registered email and password to log in. Once inside, you'll have full access to your iFOREX trading dashboard, where you can begin exploring trading instruments and platform features.
#4 Verify Your Identity
Provide proof of ID (passport or ID card) and proof of residence (utility bill or bank statement) for KYC verification.
iFOREX App and Trading Platform
The broker has developed its proprietary trading platform equipped with an economic calendar and trading signals for mobile devices and web browsers. iFOREX app download link:
iFOREX Broker Fees Explained
The company charges no commissions for opening and closing positions. The main trading costs are spreads. In this iFOREX review, we’ll explore the spread data for some trading pairs.
Trading Instrument | Minimum Spreads (Pip) |
AUD/CAD | 3 |
EUR/GBP | 1.6 |
EUR/USD | 1.1 |
GBP/USD | 1.6 |
Brent Oil | 4 |
Gold | 49 |
WTI Oil | 4.2 |
Bitcoin | 101.2 |
Ethereum | 5.57 |
Other applicable fees include:
- Overnight financing (swap charges): Applied to open CFD positions held overnight, based on interbank rates plus a markup;
- Currency conversion fees: Charged when depositing or withdrawing in a currency different from the base account currency;
- Inactivity fee: A quarterly $15 fee is levied after 12 months of no account activity;
- No deposit fees or withdrawal fees from iFOREX’s side, but third-party processors may charge commissions.
Deposit & Withdrawal
The broker accepts online and offline deposits made via various methods, including Bank Wire, Credit/Debit Cards, and eWallets.
- VISA / MasterCard
- Apple Pay
- Neteller
- Skrill
- Paysafecard
- Crypto
- Voucherry
It's important to note that available options can vary depending on your country of residence. Generally, withdrawals are processed back to the original deposit method.
As mentioned in this iFOREX review, available payment methods can differ based on your location. For example, Indian clients can use INR deposits via UPI or NetBanking.
Copy Trading and Investment Opportunities
iFOREX doesn’t offer a dedicated copy trading feature or investment funds. However, it allows users to check market sentiment and other traders’ positions.
Tradable Assets
iFOREX offers CFD trading on a diverse range of 750+ instruments across 6 asset classes, from Forex to Cryptocurrencies.

- Forex (Foreign Exchange): Over 80 major, minor, and exotic currency pairs
- Commodities: Precious metals (e.g., Gold and Silver), Energy products (e.g., WTI and BRENT), and Agricultural commodities (e.g., Coffee and Sugar)
- Indices: Major global stock indices, such as Australia 200, Europe 50, and US30
- Stocks: Shares of major international companies like Adidas, Adobe, Apple, and Amazon
- Cryptocurrencies: Major cryptocurrencies like Bitcoin, Ethereum, and Litecoin
- ETFs: Various Exchange-Traded Funds like Crude Oil Fund, US 30 Trust, US Banks, and China Top 50 Long
iFOREX Promotional Programs
The broker offers a welcome package to new clients and an affiliate program for referring customers.
- Welcome Package: 50% trading bonus on the first deposit and an additional 50% upon completing KYC, plus 1-on-1 training guides, and video tutorials
- Affiliate: $35 - $300 commission (based on your friend’s first deposit) for referring new clients
Customer Support
The lack of 24/5 online support is one of the disappointments in this iFOREX review. The broker provides assistance in 16+ languages Monday to Friday, 04:00 - 20:00 GMT through various channels, including:
cs@iforex.com | |
Tel | +30 2103742599 |
Call Back Request | Through the “Contact Us” page |
Ticket | Click the “mail” icon on the home page |
iFOREX also has implemented local phone lines for its clients from various countries, such as China, Egypt, and India.
China | +852 30184846 |
Egypt | +30 2100105333 |
India | +91 3371279140 |
Indonesia | +30 2103742518 |
Kazakhstan | +7 7273493078 |
Malaysia | +30 2103742520 |
Mexico | +52 5547469733 |
Philippines | +30 2103742525 |
iFOREX Broker Restricted Countries
There are certain countries and regions where the broker's services are restricted due to regulatory requirements or company policy.

iFOREX Geo-Restrictions:
- Afghanistan
- American Samoa
- Australia
- Belgium
- British Indian Ocean Territory
- British Virgin Islands
- Canada
- Christmas Island
- Cocos Islands
- Congo, the Democratic Republic.
- Crimea
- Cuba
- Guam
- Guinea
- Haiti
- Iran
- Israel
- Lebanon
- Libya
- Mali
- Myanmar
- New Zealand
- North Korea (DPRK)
- Northern Mariana Islands
- Puerto Rico
- Russian Federation
- Singapore
- Somalia
- South Sudan
- Sudan
- Syria
- Turkey
- United States of America
- US Minor Outlying Islands
- US Virgin Islands
iFOREX User Satisfaction
The company has garnered mostly positive feedback across reputable websites like Forex Peace Army.
4.2 out of 5 based on 124 comments | |
Forex Peace Army | 2.495 out of 5 based on 105 ratings |
75% of iFOREX reviews on Trustpilot are 4-star and 5-star (positive), and only 23% are negative (1-star and 2-star).

Educational Offerings
iFOREX places a strong emphasis on trader education, offering a comprehensive suite of educational resources and trading tools, including:
- Education Center: Basic and advanced articles
- Trading Tools: Pulse (AI deal-finder), The Trading Expert, Economic Calendar, Trading Signals, and News
iFOREX in Comparison to Other Brokerages
In this section, the broker is evaluated against some of its top competitors:
Parameter | iFOREX Broker | LiteForex Broker | Pepperstone Broker | Moneta Markets Broker |
Regulation | BVI FSC | CySEC | ASIC, SCB, FCA, DFSA, CMA, BaFin, CySEC | FSCA, FSRA |
Minimum Spread | Variable Based on the Instrument | From 0.0 Pips | From 0.0 pips | From 0.0 pips |
Commission | $0 | From $0.0 | From $0.0 | From $0.0 |
Minimum Deposit | $100 | $50 | $1 | $50 |
Maximum Leverage | 1:400 | 1:30 | 1:500 | 1:1000 |
Trading Platforms | iFOREX App | MetaTrader 4, MetaTrader 5, Mobile Proprietary App | Proprietary Platform, cTrader, Trading View, MetaTrader 4&5 | MT4, MT5, Pro Trader, App Trader |
Account Types | Real, Demo, Swap-Free | Classic, ECN, Demo | Standard, Razor | Direct, Prime, Ultra |
Islamic Account | Yes | No | Yes | Yes |
Number of Tradable Assets | 750+ | N/A | 1200+ | 1000+ |
Trade Execution | Market | Market | Instant | Market |
Conclusion and Final Words
iFOREX provides access to 750+ trading instruments with leverage options of up to 1:400. The broker has a great score of 4.2 out of 5 on Trustpilot. It doesn’t accept clients from the USA.