Founded in 1996, the iFOREX Group is an online brokerage firm that offers over 800 trading instruments across different asset classes, including Forex, commodities, cryptocurrency, shares, indices, CFDs, ETFs and more, through their web and mobile trading platforms.
The broker has many years of experience in the online trading industry, and they serve clients from different parts of the world. They have subsidiaries that are regulated in the UK, Cyprus, Hungary, and the British Virgin Islands.
iFOREX Review Introduction
In this iFOREX review, we will take a look at some of the most important factors worth considering when choosing a forex broker for your online trading needs. This includes trading platforms, trading tools, research and education, account funding options, customer support and broker regulation.
You may also wish to view my best forex brokers based on countless hours that I have spent researching and testing hundreds of brokers, all of which you can see in my forex broker reviews. You can also use my free trading tool to compare forex brokers including iFOREX.
iFOREX Platforms & Tools
iFOREX provides their clients with easy-to-use web and mobile trading platforms. The iFOREX web-based platform comes with the 128-bit secure SSL environment and firewall access management and can run directly on any standard web browser, such as Google Chrome, Firefox, and Safari. There is also a mobile trading platform, which helps clients trade on the go. The mobile app is customizable and easy to use; it enables traders to place trades and monitor their positions on their smartphones.
iFOREX traders also get access to several trading tools including Charts, Advanced Trading Signals, and Economic Calendar, which has the timetable of important scheduled economic data releases.
iFOREX Research & Education
iFOREX provides their traders with a variety of educational materials with relevant information and guides to start trading forex and CFDs online. The educational resources include e-books, comprehensive video courses, short tutorial videos, and more.
iFOREX Trading Accounts
iFOREX offer clients a standard mini account, which requires a minimum deposit of $100, and a VIP account where the minimum transaction size is $2500 with up to 30:1 leverage. The broker does not charge any commission, but the charges are added in their marked-up spreads.
iFOREX Account Funding
The broker offers a wide variety of options for funding accounts or making withdrawals namely: Bank wire transfer, credit/debit cards (MasterCard, Diners & Visa card), online wallets (Neteller and Skrill), and western union. Some fees may be charged for using certain payment methods, and the transaction processing time may vary depending on the payment method used.
iFOREX Customer Service
iFOREX offers a multilingual customer support service to assist their clients with technical and general questions. They can be reached via multiple channels, including emails, online chat, phone calls, fax, and an online contact form available on the broker’s website. They are available from Monday to Friday, and they can also be reached via social media handles on Facebook, Twitter, LinkedIn, and YouTube.
The iFOREX Group has many subsidiaries that operate in different jurisdictions and are regulated as follows:
- Formula Investment House is regulated by the British Virgin Islands’ Financial Services Commission (BVIFSC)
- Black Pearl Securities is regulated by the Financial Conduct Authority (FCA)
- eBrokerhaz Befektetesi Szolgaltato Zrt is regulated by the National Bank of Hungary
- The iFOREX Group EU subsidiary is regulated by the Cyprus Securities and Exchange Commission (CySEC)
iFOREX Review Summary
The iFOREX Group is an online brokerage firm with several subsidiaries that are regulated in different jurisdictions. The broker offers over 800 instruments through their web trading platforms.
It is worth mentioning that some of the trading products and services in this iFOREX review may differ or not be available to traders in some countries due to regulations. As brokers terms can change over time, please verify all information is up to date directly from the iFOREX broker website which you can visit by using the link below.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. A large percentage of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.