iFOREX Broker Review 2025

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 the PSV Eindhoven football club.

With more than 25 years of experience, the broker emphasizes accessibility and education, offering beginner-friendly training programs, mobile-first trading platforms, and 750+ CFD instruments.

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.

In the table below, you can check out the regulatory information of iFOREX’s two different brands:

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.

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.

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
• Email
• Mobile number

Create a password, agree to the broker’s terms, and hit “Start Now”. 

#3 Accept the Terms

You’ll then confirm your acceptance again by clicking “Accept and Login”.

#4 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.

#5 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 Android
• iFOREX iOS

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.

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.

iFOREX Swap Fees

In CFD trading with iFOREX, overnight financing (or swap) represents the cost or gain for holding a trading position beyond the trading day.

A positive Overnight Financing Percentage means you’ll receive a credit, while a negative one means a debit from your account balance.

You can view all related financing percentages, amounts, and time schedules under the “Market Info” tab in the platform’s Deal or Limit forms.

To estimate your overnight charge or credit, simply multiply the Overnight Financing Percentage by your deal size. Each instrument’s financing schedule is shown in the “Instrument Info Tool”, and rates apply for one day.

For markets that trade five days a week, iFOREX applies a triple charge or credit on the final trading day to cover the weekend. The overnight amount is shown in the CFD’s base currency and automatically converted to your account currency if needed.

iFOREX Non-Trading Fees

iFOREX applies a few non-trading charges that traders should be aware of, particularly in relation to inactivity and withdrawals.

Inactivity Fee

If a trading account shows no activity for 12 consecutive months, a quarterly fee of $15 may be deducted. If the account’s equity is below $15, the remaining balance may be charged instead.

This fee helps maintain dormant accounts within the platform’s operational system.

Withdrawal Fees

Withdrawals made via credit or debit cards are processed without additional charges from iFOREX.

However, third-party institutions such as banks or card issuers may impose their own costs, including cash advance or foreign exchange conversion fees.

For bank wire transfers, a fee of up to $20 may be deducted from the withdrawal amount. Also, there are fees for the clients from specific countries:

• Japanese-speaking clients: a fee of ¥2,000 applies to transfers between ¥5,000 and ¥100,000;
• Hindi clients: a $5 fee applies for local wire transfers, while international withdrawals incur a $20 charge.

These non-trading fees are designed to cover administrative and processing expenses rather than trading-related costs.

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.

iFOREX Deposit

iFOREX offers different deposit methods for each country. To deliver a customized payment experience for its global clients, iFOREX structures its payment methods to accommodate a wide range of financial systems worldwide.

To identify the most convenient option for your account, simply choose the country where you handle your finances, and the platform will display the available payment methods that best match your location.

Overall, the broker provides these methods:

iFOREX Withdrawal

Withdrawing funds from iFOREX is a straightforward process, although processing times vary depending on the chosen method.

Withdrawals to credit cards can take up to 28 days, depending on the card issuer, while wire transfers typically complete within three to five business days. Here are the details of each withdrawal method:

To request a withdrawal, log in to your iFOREX account and go to the “Withdraw Funds” section in the menu. Enter the amount you wish to withdraw and proceed to select your preferred withdrawal method.

Depending on your previous deposits, some withdrawal options may not be available. Complete any additional required details and follow the instructions to finalize the request.

It is essential to complete the Identification Questionnaire and verify your identity before initiating a withdrawal, as iFOREX does not process requests from unverified accounts.

Withdrawals equal to the deposited amount that are requested within one year of the deposit date are refunded to the same credit or debit card used for funding.

If more than one year has passed, the funds will be transferred via bank transfer. For withdrawals exceeding the original deposit, the deposited amount is returned to the credit card, while any profits are sent through a bank transfer.

Funds returned via bank transfer usually appear within three to five business days, while refunds to credit or debit cards may take up to 28 working days, depending on the card provider’s clearing process.

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.

Check out the details of each instrument type in iFOREX:

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

iFOREX Awards

At present, iFOREX does not appear to have received any notable or publicly recognized industry awards. Additionally, there is no dedicated section or mention of such achievements on the company’s official website.

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:

iFOREX also has implemented local phone lines for its clients from various countries, such as China, Egypt, and India.

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.

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:

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.