iFOREX Review 2026

The basic trading model

iFOREX is a market maker offering leveraged products. Forex trading is leveraged FX; indices, commodities and cryptocurrencies are generally accessed through derivatives rather than ownership of the underlying market or an asset in a crypto wallet. Share exposure is mainly through CFDs, so traders do not own the shares or receive voting rights. Overnight financing can apply to stock CFD positions.

Customers use the proprietary iFOREX App or WebTrader. The broker offers real, Islamic and professional account types, while a demo account is also available. Copy trading and social trading are not offered.

Important regional differences

Maximum leverage depends on the legal entity and client classification: it is capped at 1:400 under Formula Investment House Ltd, regulated by the BVI FSC, and at 1:30 for retail clients under iCFD Ltd, regulated by CySEC. The Cyprus Investor Compensation Fund coverage of up to $22,000 applies only to eligible retail clients with CySEC-registered accounts; it should not be assumed to cover BVI-regulated accounts.

Trading costs

iFOREX uses floating spreads and charges no commission. The figures below are average spreads, not minimum or advertised spreads.

These figures give a small sample of instrument pricing. The spread is floating, so the quoted averages are not fixed transaction costs.

Non-trading costs

Overnight swap fees apply. Currency conversion fees may also apply when an account transaction involves conversion. iFOREX charges $15 per quarter after 12 consecutive months with no trading activity.

Withdrawal charges depend on the route: card and e-wallet withdrawals carry no iFOREX fee, although payment-provider charges may apply; international bank-wire withdrawals incur a $20 fee. A $5 fee applies to India local transfers, while other wire-transfer withdrawals are generally fee-free.

Cost takeaway

The no-commission structure keeps the quoted trading charge within the floating spread, but it does not remove overnight financing, conversion or inactivity costs. Traders who hold positions overnight, leave accounts dormant or withdraw by international wire should include those charges in their cost assessment.

Account options

The Real account is the general live-account option. The Islamic account follows the underlying account's pricing and minimum-deposit terms, with swap-free treatment limited to a defined allowance period and possible alternative administration charges. Professional status is qualification-based and can bring higher leverage limits, subject to eligibility.

Platform choices

The App is a mobile platform and WebTrader is browser-based; neither is a desktop platform. The platform setup is proprietary rather than a choice among multiple named trading systems.

Base currency and account configuration

Base currencies include USD, EUR, GBP, CHF, JPY, PLN, SEK and INR. Currency conversion fees may apply. Demo and Islamic accounts are available, and verification is required for account opening.

iFOREX covers several leveraged markets, with the largest instrument count in stocks. The products are not all direct asset ownership: share exposure is mainly through CFDs, while index, commodity and crypto exposure is generally through leveraged derivatives.

Order execution

iFOREX operates as a market maker. Slippage may occur during volatile markets, periods of low liquidity or around major market events. The platform offering is proprietary and consists of the iFOREX App and WebTrader.

Leverage, margin and stop-out

Maximum leverage reaches 1:400 under the BVI FSC-regulated Formula Investment House Ltd entity. For retail clients under CySEC-regulated iCFD Ltd, leverage is capped at 1:30. Professional clients may qualify for higher leverage limits, subject to eligibility. Actual leverage also depends on the entity and instrument.

The margin-call level is 100%, and the stop-out margin level is 50%. These thresholds matter when monitoring positions and available margin; leverage limits also vary by regulatory entity.

Trading restrictions

iFOREX prohibits scalping, defined in its client agreement as closing positions in under two minutes. Automated algorithmic or EA trading is also prohibited. Hedging and news trading are allowed, but scalping remains prohibited regardless of the event or strategy.

API trading is not offered. Copy trading and social trading are also unavailable.

Day-to-day usability

The broker's proprietary web and mobile platforms are paired with one-to-one training, video tutorials, PDF guides and educational articles. The demo account gives customers a way to explore the platform before trading a live account.

1. Eligibility

iFOREX does not accept clients from the United States, Canada, Japan, Australia, Belgium, North Korea, Iran, Syria, Sudan or South Africa. Account terms and leverage depend on the legal entity and client classification.

2. Registration

Choose between a real, Islamic or professional account, subject to the professional account's qualification requirements. The minimum initial deposit is $100.

3. Verification

Verification (KYC) is required. No specific document list or verification timetable is set out here.

4. Initial funding

Each supported deposit route has a $100 minimum. Card and e-wallet deposits are processed immediately; wire transfers take 2–5 business days.

5. Getting ready to trade

Customers can use iFOREX WebTrader or the iFOREX App, or try a demo account. Before trading, check the account's legal entity and applicable leverage cap, along with the platform restrictions on scalping and automated algorithmic trading.

Deposits

Method	Minimum	Broker Fee	Broker Processing	Expected Settlement
Visa	$100	No broker deposit fee generally, payment-provider/bank fees may apply	Immediate	Immediate
Mastercard	$100	No broker deposit fee generally, payment-provider/bank fees may apply	Immediate	Immediate
Wire Transfer	$100	No broker deposit fee generally, payment-provider/bank fees may apply	2–5 business days	2–5 business days
Neteller	$100	No broker deposit fee generally, payment-provider/bank fees may apply	Immediate	Immediate
Skrill	$100	No broker deposit fee generally, payment-provider/bank fees may apply	Immediate	Immediate
PayPal	$100	No broker deposit fee generally, payment-provider/bank fees may apply	Immediate	Immediate
Alipay +	$100	No broker deposit fee generally, payment-provider/bank fees may apply	Immediate	Immediate

Every deposit route has a $100 minimum. The timing differs: six routes are processed immediately, while one takes 2–5 business days.

Withdrawals

Method	Minimum	Broker Fee	Broker Processing	Expected Settlement
Visa	$20	$0 broker fee, provider charges may apply	Usually processed within a few business days after approval	Usually processed within a few business days after approval
Mastercard	$20	$0 broker fee, provider charges may apply	Usually processed within a few business days after approval	Usually processed within a few business days after approval
Wire Transfer	$20	$20 international wire, $5 India local transfer, otherwise generally $0	Usually processed within a few business days after approval	Usually processed within a few business days after approval
Neteller	$20	$0 broker fee, provider charges may apply	Usually processed within a few business days after approval	Usually processed within a few business days after approval
Skrill	$20	$0 broker fee, provider charges may apply	Usually processed within a few business days after approval	Usually processed within a few business days after approval
PayPal	$20	$0 broker fee, provider charges may apply	Usually processed within a few business days after approval	Usually processed within a few business days after approval
Alipay +	$20	$0 broker fee, provider charges may apply	Usually processed within a few business days after approval	Usually processed within a few business days after approval

All withdrawal routes have a $20 minimum. The stated processing and settlement window begins after approval and is usually a few business days; it is not an instant-withdrawal promise.

Availability

Customer support is available 24/5 through live chat, email and phone.

How traders can get help

Customers can contact support by live chat, email or phone. iFOREX also offers one-to-one training and educational materials, which are separate from its support channels.

Support limitations

Customer feedback is typically positive about technical help and courteous, professional service. A minority of customers report difficulty getting useful help through direct support channels and challenges resolving withdrawals, so support outcomes are not uniform.

iFOREX identifies regulatory coverage in the British Virgin Islands and Cyprus. The applicable entity matters: the Cyprus Investor Compensation Fund protection applies only to eligible retail clients with CySEC-registered accounts, not automatically to all iFOREX clients.

Legal entities and regulators

iFOREX identifies Formula Investment House Ltd with the BVI FSC license and iCFD Ltd with CySEC registration. The available leverage also differs by entity: up to 1:400 under the BVI FSC entity and up to 1:30 for retail clients under the CySEC entity.

Client money protections

Client funds are segregated, and negative balance protection is provided. For eligible retail clients with CySEC-registered accounts, the Cyprus Investor Compensation Fund may cover up to $22,000 per client. That compensation-scheme eligibility is specific to those Cyprus-regulated accounts; it does not extend automatically to BVI-regulated accounts.

Company transparency

iFOREX was founded in 1996 and is publicly traded. Its head office is in Herzliya Pituach, Israel, and it also has offices in Cyprus and Greece.

Important distinction

Segregation and compensation arrangements concern client money or eligible claims if a firm fails; they do not protect a trading position from market losses. Negative balance protection is a separate safeguard and does not prevent losses within an account balance.

What the headline claim suggests

Maximum leverage of 1:400 can appear to apply across the whole iFOREX offering. It does not: that cap applies under the BVI FSC-regulated Formula Investment House Ltd entity, while retail clients under CySEC-regulated iCFD Ltd are capped at 1:30.

What happens in practice

The relevant entity and client classification shape the leverage available. The Cyprus ICF compensation protection is also limited to eligible retail clients with CySEC-registered accounts, rather than applying to every iFOREX account.

Who should care most

Traders comparing leverage or relying on a particular compensation arrangement should confirm which entity will hold their account and whether they qualify for the relevant client protections. Strategy choice matters too: iFOREX prohibits scalping and automated algorithmic trading.

Practical example

A retail client under iCFD Ltd faces a 1:30 leverage cap, not the 1:400 cap that applies under the BVI FSC entity. The difference is material when comparing account terms, even before considering instrument-specific margin requirements.

Consider iFOREX if you...

• Are a beginner or intermediate CFD trader who wants one-to-one training and structured educational materials.
• Prefer using a proprietary web or mobile platform rather than requiring a desktop platform.
• Want a demo account and a $100 minimum initial deposit.

You may want to look elsewhere if you...

• Scalp or routinely close positions in under two minutes.
• Depend on automated algorithmic or EA trading, or API access.
• Need a desktop platform or copy and social trading features.

iFOREX's clearest proposition is its proprietary web and mobile setup paired with one-to-one training and educational resources. Its biggest compromise is a restrictive strategy and platform environment, including a ban on scalping and automated algorithmic trading, alongside entity-specific leverage limits. Beginners and intermediate CFD traders who value guided support and do not need those restricted tools are the most likely to accept that trade-off.

Our assessment considers regulatory scope, client protections, account terms, trading costs, product coverage, platform limitations, funding terms and customer feedback. Broker claims, formal protections and customer opinions are treated as distinct types of information; no personal trading test is claimed here. For more detail on how brokers are assessed, see our review methodology.