iFOREX’s spread list starts from 1.8 pips EUR/USD. Overnight fees, also known as swap fees, are charged by iFOREX depending on the financial instrument being held as well as the position, whether long or short.
iFOREX at a glance
| Broker's Name | iFOREX |
| 📍 Headquartered | Cyprus |
| 📅 Year Founded | 1996 |
| ⚖️ Regulating Authorities | FCA, CySEC, MNB, BVI FSC |
| 🌐 Countries not accepted for trade | United States and Canada |
| ☪️ Islamic account (swap-free) | No |
| 👍 Demo Account | Yes |
| 📊 Institutional Accounts | No |
| 📊 Managed Accounts | No |
| 📈 Maximum Leverage | 1:30 |
| 💰 Minimum Deposit | 100 USD (1 367 ZAR) |
| 💳 Deposit Options | Bank Wire Transfer Credit/Debit Cards Online Wallets Western Union |
| 💳 Withdrawal Options | Bank Wire Transfer Credit/Debit Cards Online Wallets Western Union |
| 💻 Platform Types | iFOREX trading platform |
| 📱 OS Compatibility | Web and mobile (iOS, Android) |
| 📈 Tradable assets offered | Forex Commodities Indices Shares Stock Derivatives ETFs Cryptocurrencies |
| 👨💼 Languages supported on Website | English, Russian, Spanish, Thai, Chinese, Japanese, and several others |
| 👥 Customer Support Languages | Multilingual |
| 📆 Customer Service Hours | 24/5 |
Min Deposit
USD 100
Regulators
BVI FSC
Trading Platform
Proprietary Platform
Crypto
Yes
Total Pairs
50+
Islamic Account
No
Trading Fees
Low
Account Activation
24 Hours
iFOREX Fees and Spreads – 7 key points quick overview:
- ✔️iFOREX Fees and Spreads Overview
- ✔️iFOREX Additional Trading Fees
- ✔️iFOREX Broker Fees
- iFOREX Customer Reviews
- iFOREX Pros and Cons
- Conclusion
- FAQ
iFOREX Fees and Spreads Overview
The spread list that traders can expect from iFOREX will depend on the financial instruments that are traded. The typical spreads across the asset classes are as follows:
- Forex – from 1.8 pips EUR/USD
- Commodities – from 0.0022 pips on energies
- Indices – from 0.6 on Japan 100
- Shares – from 1 pip on various popular shares
- Stock Derivatives – from 1 pip on various popular stock derivatives
- ETFs – from 0.8 on Japan
- Cryptocurrencies – from 5 pips on TRON
iFOREX is not known for providing the best spreads in the industry but the broker does offer traders with the benefit of zero-commissions on their trades, in addition to a variety of other benefits.
iFOREX Additional Trading Fees
When keeping a position open for longer, traders must note that there is a mark-up added of 75% on all spreads.
iFOREX offers Muslim traders with the option of converting their live trading account into that of an Islamic Account, exempting them from interest that is prohibited by the Sharia Law.
iFOREX Broker Fees
iFOREX does not indicate whether deposit fees are charged but withdrawal fees of up to 20 USD (273 ZAR) when using Bank Wire Transfer.
There are no other broker fees indicated for iFOREX, however, conditions may change, and traders are therefore urged to verify the existence of fees before registering for a live trading account.
iFOREX is not a spread betting broker, so spread betting fees will not apply.
iFOREX Customer Reviews
I am a kind of autodidact
I am a kind of autodidact. I mean, if haven’t had iFOREX learning center, I think I would be OK anyway. However, iFOREX’s education section is so mind-opening that I had to dive into it. They have taken financial education to the next level.
A wide array of choices
A wide array of choices is the name of the game in iFOREX. They have a great variety of assets for traders to select from, a large library of top educational material, and plenty of paying methods. iFOREX has all the options for trading that I can bring to mind – making it truly the best choice for me.
Honestly
Honestly, going through iFOREX’s education center is, I believe, a must for any trader. It is thorough and detailed, giving me all that I truly need to improve my CFD game. Highly professional and recommended to all!
iFOREX Pros and Cons
| ✔️ Pros | ❌ Cons |
| Caters for beginners and professionals | Limited leverage |
| Demo account and Islamic account offered | No MetaTrader 4 or MetaTrader 5 |
| Powerful proprietary trading platform | Not the tightest spreads |
| Variety of tradable financial instruments | Withdrawal fees charged |
Conclusion
Overall, iFOREX offers low fees and spreads for traders compared to the other majority of brokers. The iFOREX spread list starts from 1.8 pips EUR/USD
Min Deposit
USD 100
Regulators
BVI FSC
Trading Platform
Proprietary Platform
Crypto
Yes
Total Pairs
50+
Islamic Account
No
Trading Fees
Low
Account Activation
24 Hours
You might also like: iFOREX Demo Account – Step by Step
You might also like: iFOREX Islamic Account
You might also like: iFOREX Minimum Deposit
You might also like: iFOREX Account types
You might also like: iFOREX Sign up Bonus
FAQ
How many instruments can I trade with iFOREX?
You can trade more than 800 financial instruments spread across these asset classes:
- Forex
- Commodities
- Indices
- Shares
- Stock Derivatives
- ETFs
- Cryptocurrencies
Which platforms are supported by iFOREX?
iFOREX provides their own proprietary platform that can be accessed either through web browsers or mobile applications (Android or iOS).
Does iFOREX offer leverage?
iForex indicates that it only offers leverage up to a maximum of 1:30.
What spreads can I expect with iFOREX?
The spreads that you can expect with iFOREX start from 1.8 pips on EUR/USD.
Does iFOREX charge commission?
No, iFOREX does not charge any commissions on trades.
Are there additional charges on the Islamic account?
No, there are no additional charges indicated for the Islamic Account.
Is iFOREX regulated?
Yes, iFOREX and its subsidiaries are regulated.
- Formula Investment House Ltd. – based in the British Virgin Islands with regulation through BVI FSC.
- Black Pearl Securities Limited which is based in the UK with regulation through the FCA.
- iFOREX which is the European subsidiary based in Cyprus with respective regulation through CySEC.
- eBrókerház Befektetési Szolgáltató Zrt is overseen by the National Bank of Hungary (MNB)
Is iFOREX a recommended forex trading broker for experts and beginners?
Yes, iFOREX is an ideal option for both beginners and expert traders.
What is the overall rating out of 10 for iFOREX?
4/10.
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