iFOREX Review 2025
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Updated:
Reason to avoid: Non compliance
Listed Date: September 25, 2018
Top 3 Forex Brokers
Beware iForex Review is a Non-Regulated broker. It is NOT SAFE to trade.
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- iFOREX 2025 User Reviews
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Is iForex Scam or Legit broker?
iFOREX is not a secure Forex broker since it does not hold a license from any worldwide serious Forex authority. In fact, the broker is suspected of being a fraud company since it was not checked for its compliance before establishment, never monitored in terms of its safety, and simply may operate the business in any way it wishes.
About iFOREX
| 🗺️ Registered in | British Virgin Islands |
| 🗺️ Type of License | Offshore License |
| 🛡️ Is iFOREX safe to trade | No |
| 🗺️ Recommended Licenses | FCA in UK 🇬🇧 & ASIC in Australia 🇦🇺 |
| 🖥 Alternative Broker | FP Markets - licensed by ASIC in Australia |
What is iForex?
iFOREX is a brand name of the group of companies that offers a wide range of solutions to trade CFDs and Forex, as well as Binary Options to international clients through an advanced proposal including narrowed specifications like Swap-free accounts forex and other instruments.
iFOREX provides round-the-clock, real-time trading services, allowing clients to invest in various CFD instruments (assets) such as shares, commodities, currencies, indices, ETFs and cryptocurrencies. In addition, iFOREX offers online trading education, 1-on-1 training and video tutorials, as well as technical and customer support in multiple languages.
- The Formula Investment House Ltd. company was founded back in 1996, while serving offices in British Virgin Islands and operates with the regulation from the BVI FSC. The iFOREX Group’s European subsidiary is licensed and regulated by the Cyprus Securities and Exchange Commission (CySEC) under license # 143/11.
- However, the company previously was imposed due to several violations. The broker operated through the company ICFD Ltd received a 138,000€ fine that referred to the providing of unlicensed services which included investment advice, as well as the company did not act in the best interest of its clients and failed to define the high-risk investments.
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In addition , the internet sources are quite full of the complaints and negative reviews from the traders that engaged in the trading with iFOREX. The reviews mainly refer issues during the trading that behaved against the traders’ interests, as well as issues of the advisory service to trade accordingly that eventually led to losses.
Overall iFOREX Ranking
With our finds and issues on iFOREX regulations and safety, we do not rank positively iFOREX, based on our Expert Opinion with over 10 Years of experience in Forex Trading.
- iFOREX Overall Ranking is 2 out of 10 based on our testing and compared to 500 other brokers, see Our Ranking below compared to other popular and industry Leading Brokers.
| Ranking | iFOREX | AvaTrade | XTB |
|---|---|---|---|
| Our Ranking | ⭐ | ⭐⭐⭐⭐ | ⭐⭐⭐⭐⭐ |
| Is Broker safe? | No | Yes | Yes |
| Advantages | None | Low Deposit | Trading Platforms |
iFOREX Alternative Brokers
Based on our research results and iForex safety issues we revealed, here are much better Alternatives to iFOREX with good regulations and excellent conditions. We select Good Brokers and trustworty options for your comparison below:
- FP Markets – Good for CopyTrading
- FXTM – Good for Beginners
- Plus500 – Good for Futures Trading
iForex in India
It has an exclusive website for Indian traders iForex.in iForex India claims to comply with BVI FSC for its global operation. However, iForex has no mention of complying with any Indian regulators on its website.
iForex in the USA
iForex does not accept traders from the United States. As per the U.S law, brokers regulated by CFTC are the only brokers allowed for the USA traders. So, except for IQ Option, you are only permitted to trade with the U.S regulated platforms.
- Here is the full list of the countries that are not allowed to trade with iForex: Afghanistan, American Samoa, Argentina, Australia, Belgium, Brazil, British Indian Ocean Territory, Canada, Christmas Island, Cocos (Keeling) Islands, Congo, Cyprus, French Southern Territories, Guam, Guernsey, Guinea, Haiti, Vatican State, Iran, Israel, Jersey, Korea, Lebanon, Libya, Netherlands, New Zealand, Puerto Rico, Rwanda, Samoa, Sudan, Singapore, Somalia, Syria, Turkey, United States.
Deposit & Withdrawal
The minimum deposit for opening an account with iForex is 100 USD/GBP/EUR. iFOREX facilitates deposits made both online and offline for your convenience. The options include: Bank Wire, Credit Card, Debit Card and e-wallet payment systems Skrill, Neteller, Diners and Western Union. iForex notes that no internal costs apply except a fee of $20 for bank wires, while third-party charges will depend on the payment processor.
As to the withdrawals, a charge up to $20 may be applied, depending on the payment method and withdrawal size. To make a withdrawal, users must fill out a withdrawal request form. Withdrawals can take up to 28 working days to be processed, depending on the clearing solution trader funded his account with. Such a long period for the withdrawals obviously causes a lot of complaints from the clients. (Also read about Alpari Broker's Deposit & Withdrawals by the link.
Apps
iFOREX offers an advanced mobile platform compatible with most smartphones and tablets. For the ultimate mobile trading experience, you're invited to download the innovative, free mobile trading apps. Look for iFOREX Trading on the App Store or on Google Play.
Demo Account
A demo account is available to users but only once a real trading account has been activated. There are also time restrictions on how long the demo account can be used. Demo account is a great opportunity to practice strategies and become familiar with the platform with their demo account option.
iFOREX Review Conclusion
Overall, there are many questions in regards to the trust of the iFOREX company services and the manner they do operate the online trading itself. We strongly advise opening a trading account only with the brokers that are regulated by respected world authorities and comply with the required set of rules. We advise Traders to select well-regulated brokers such as UK brokers or brokers in Australia and reliable brokers such as FBS and BDSwiss since money safety and trust goes first.
- Overall ranking and experience for iFOREX is Negative
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Can you share iForex reviews about withdrawal or deposit experience, how safe it is to make payments with this broker, article left some mixed feeling about their reliability?
They didn’t charge any commission for opening trades, so I was more than willing to trade at this platform. iForex broker is a nice one to try, I think, I haven’t faced any flaws for now, ngl.
The broker is nown for providing more than 750 assets and this is very very impressive. Protection with the FCA license is a good feature to have but all this margin trading must be pre–faced with a comprehensive education, this is my personal biazed view. Well, no complaints about trading on the iforex platform, fast and smart.
iforex stil remains lowesst in stock fees 🙂 Nobody can take the crown from a king.
They always choose the clubs which are the best, and PSV has come so far in champions league, they are making some nice moves!🤞
Much as the club, Iforex is powerful as well, they have their history and after all these years – still showing the results which are better tha nevery body elses. Love trading here, even tho I am not that pro, but still I am doing my best here and growing!
Man I respect iForex for makign a partnership with PSV, one of the biggest clubs in Erdivision… Actually it’s a bold move because you get the fans of one team and all the other teams will see you as a an enemy😂 Nah just jk tho, everybody respects iForex, they are one of the oldest in trading, more than 20 years in the market, no other broker can show you think kind of history. The sole fact that they are around for so many years just confirms that they are more than solid. I always liked some market analysis in there… learned a lot of their materials.
I joined the iForex broker a few months ago and was kinda skeptical about them at first. After trading on the forex market and making profits on eur/usd I changed my mind. They deserve my trust! 😃
Support is the face of the company, so while I first started trading with iforex, I contacted them about the details. Worked pretty well, so iforex reviews didn`t lie, quality is on a decent level.
I’m only with standard acc here (theres also vip) but in general the trading is ok. Most iForex reviews here focus on spreads and safety, I also think these are good. Swaps at 0,75% are meh though.
I am sure that those who have tradd on the demo were delighted with the speed of execution and realness of quotes. I also traded on the demo initially, but now I switched to a real acc.
Initially, I didn`t want to trade with this broker I don`t know why it seemed to be not trustworthy at all. But everything changes, when you personally try the service, it turns out it`s trustworthy👌
It appeared to be a broker with a long history and strong liquidity PROVIDER, though I wasn`t that sure about iForex propriary platform, diferent from MetaTrader. Actually, I haven`t faced any drawbacks in its woRk, even if the interface looks better. Trading CONDITIONS were also reasonable and suitable for me, there were a bunch of tradable assets and normal spreads, so I like my XP.
I am happy with iFOREX platform Every service works fine but trading platform is the best tool. For now I have nothing to complain about.
iForex broker has proven to be an excllent choice for me. I like its custom trding app, the spreads I get here, and its overall reliability in terms of support and withdrawals.
I approve 👍🙂
Wasn’t sure to fund my Iforex trading account, reading over 100 reviews I decided to try them out!
GBP/JPY is like riding a rollercoaster – fast, thrilling, and full of sharp twists, but when you time it right, the payoff is well worth it!
Btw, iforex trading terms on this instrument – fine 👍
I didn’t expect anything from iForex broker because I knew that they were launched in 1996 and I thought they can’t offer something unique like other modern brokerage firms.
How wrong I was, they provide such tight spreads on the forex market that I can hardly notice the difference between bid and ask prices. Ngl, I was surprised and I should admit this broker is better than other brokerage firms.
I kinda feel that there is no broker out there that caters for its traders like iforex. FOr new traders… and old traders as well, you can get one on one training sessions, and also other educational materials which are actually very good. There are many tools on the platform that help traders succeed. And that is why so many love the platform… it has a good name in trading circles.
For me, trading in financial markets is of great importance because it is the main source of my income.
Therefore, you understand how strict my requirements are not only for the reputation of broker, but also for some other characteristics.
iForex is an experienced player in this game.
This broker has excellent selection of assets and among them, of course, some those that interest me.
Lately I trade metals and in particular Gold. Therefore, I closely monitor quality of order execution.
It’s great here.
Moreover, I have well-balanced trading conditions here, which helps me earn more
When I faced this platform and noticed that they have been in the bizz since the end of the previous century:) I was sure that they also had a conventional fee system. I know that back in the day brokers rly ripped off traders, there were no user-centricity in this regard at all.
Fortunately I was mistaken ’bout them. Spreads here are tight and there are no hidden fees, so you can literally find information about all expenses that you bear on the website. They charge neither more nor less tha stated and it’s captivating. Trade only liquid currency pairs, spreads are the narrowest.
I had some minor troubles during the verification process of a trading account and I couldn’t make a replenishment. Fortunately, the technical support helped me to sort out this problem and I’m really grateful for that!
It was my first time when I was transferring money through a financial broker and fortunately, it was easier than I expected. iForex offers many ways for transferring money and everything depends on which country you are from. Anyway, it doesn’t matter for me because mainly I use crypto currencies for transactions. Everything works perfectly and without serious delays. I recommend this broker!
Yeah, I can agree with those traders who claim that the website looks a bit outdated, because it’s like that, nevertheless, for me, as for a true oldie trader, it’s even more habitual. Right after I entered the site, I understood how to register, verify account and so on.
I had certain difficulties with the verification process, there were some delays, and I had to ask client support team about this. As it turned out, they just had a big load of work and couldn’t process my documents faster. But I ain’t complain! I always can relate, especially since that trading experience is super positive.
The payment method of this broker has been easy and swift. It’s not stressful and that is something I really appreciate that. Building trust is not the easiest thing to do in this industry, as I have come to learn. But I am happy I got a reliable and safe broker early on.
The user interface on the official website is so beautiful that I’m ready to glance at it for a long time because I noticed that many financial brokers have outdated user interfaces on their websites and at this point iForex stands out among them.
I joined this company recently but thanks to the AI assistant I could understand how everything works and iForex AI was answering my requests quite fast. It seems easier to contact artificial intelligence than the support team. Yeah, the trading conditions are also great and there are so many financial instruments available for trading.
This is one of the most reliable brokers in the financial industry and as far as I know they have been in the BIZZ for over 25 years and it proves that the company is highly trustworthy.
I think they are capable of existing for another 25 years, thus I don’t need to worry about the safety of my money. I mean, it is an important factor for me to join this company.
iForex is a reliable broker that offers a big choice of financial assets with more than 750+ CFDs available for trading. I mainly trade on the Forex market and there are tight spreads, cheap swaps with leverage.
There are also many ways to make deposits and withdrawals. I like that I can make transactions through crypto wallets and it is really convenient. I recommend this broker.
An industry OG. This broker is just amazing. iForex has the king of stellar history that industry competitors only dream of. I do not know any other brokers that have been around for this long.
It seems that this company can offer unique conditions for its clients.
Maybe conservative traders will not like it, but for me it is just what I need. I want to have an advantage over other traders and here I can get such advantage.
And it’s also pretty reliable broker even though it doesn’t have the most famous name.
For brokers with such a long history in the business like iForex, the question about its reliability and trustworthiness is redundant. This greatly simplifies the process of choosing a broker, you only need to focus on the trading conditions.
But everything is easier here too.
If you appreciate other trader’s experience, let me share mine. Their custom trading app has exceeded my expectations. It is incredibly fast and stable. The execution is out of this world, and the app is packed with all you may need as indicators and tools.
IFOREX is safe or not for trading and investing
IFOREX is recommended fro trading because you can get your money back easily.
Which broker is fully legal on all parameters