Between 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you can afford to take the high risk of losing your money.
Basic information from iForex review
About the broker
| Web: | https://iforex.com (.in, .hu) |
| License: | CySec BVI FSC |
| Supported languages: | Czech, English, Spanish, Hungarian and Russian |
| Year of foundation: | 1996 |
| Holder: | Formula Investment House Ltd. |
| Headquarters: | 1 Wickham’s Cay, Road Town, Tortola, BVI VG1110, Virgin Islands, British |
| Methods of contacting customer support: | |
| Contact: | info@iforex.com +30-210-374-2599 |
| Deposit methods: | Bank transfer, VISA, MasterCard |
| Withdrawal methods: | Bank transfer, VISA, MasterCard |
About trading with iForex
| Minimum deposit: | 100 USD |
| Min. trade: | 0.015< |
Maximum leverage: The maximum available leverage can be limited by local financial regulators or by international regulations, in such case, the displayed maximum leverage may not match the leverage you can actually trade with. For instance, in the European Union, the financial regulator ESMA restricts the maximum available leverage to 1:30 when trading major currency pairs, 1:20 when trading minor pairs and commodities and 1:2 when trading cryptocurrencies. Similar restrictions apply in Australia and possibly in other jurisdictions. | 1:400 |
| Spreads: | Look at the spread table - minimal spread on the currency pair EUR/USD is 1.8 pips * on a standard account type |
Underlying assets: Might be a CFD. | Forex (80), cryptocurrencies (15) |
| Mobile app: |  |
| MetaTrader 4: |  |
| Other trading platforms: | WebTrader |
| Social trading: | |
Spreads & fees
Fees of most brokers change relatively often and unfortunately it is not in our possibilities to keep up-to-date information about fees at iForex, of course you can find current info on their website https://iforex.com (.in, .hu).
Minimal spreads at iForex on standard account*
| EUR/USD | GBP/USD | USD/JPY | EUR/GBP | USD/CHF | EUR/JPY |
|---|---|---|---|---|---|
| 1.8 | 2.1 | 2.1 |
* Spread was taken 17.01.2020 at 21:18 from the web or trading platform of iForex.
Random reviews of competing CFD brokers: CMTrading, PureMarketBroker, AnzoCapital and Ice-FX
Frequently Asked Questions
🧐 Is iForex a scam?
We highly recommend you to read the user reviews on our website before you start trading with this brokerage company. It will help you to determine if iForex is a scam or not.
🆓 How to open a free demo account?
Opening a demo account with iForex is very simple, just register on their website.
📱 Does iForex offer the best mobile app for trading?
iForex offers a mobile trading app and you can definitely start trading with it. It is very difficult and subjective to determine if they feature the best mobile platform. However, you are welcome to test it yourself.
We compared some reputable brokers and their mobile trading apps, check out the comparison and be saved from the hassle of testing the iForex mobile app.
⚖️ Would you recommend me iForex?
iForex is one of tens (possibly hundreds) of brokers operating in the European Union, and that's why it makes no sense to choose iForex as a broker where you trade before you compare it with competitors.
We operate our website in full transparency, we recommend reliable brokers with an excellent reputation and we honestly admit to you that we receive commissions for that from these brokers. You can find the mentioned brokers in the table below with a clickable link to their site. You don't pay anything extra, you get a reliable business partner and you help us keep the website up and running. Thank you.
| Broker | English | Min. deposit | Spread EUR/USD* | Platforms | License | |
|---|---|---|---|---|---|---|
 | | 100 USD | 1.0 pips Spread was taken 20.12.2024 at 11:12 from the web or trading platform of Etoro. | In-house built platform | FCAASICCySec | etoro.comreview EUR/USD*: 1.0 pips Spread was taken 20.12.2024 at 11:12 from the web or trading platform of Etoro. |
 | | 0 | 0.9 pips Spread was taken 20.12.2024 at 11:12 from the web or trading platform of XTB. | In-house built platform | FCA CySec | xtb.comreview EUR/USD*: 0.9 pips Spread was taken 20.12.2024 at 11:12 from the web or trading platform of XTB. 74% of retail investor accounts lose money when trading CFDs with this provider |
 | | 100 USD | 0.8 pips Spread was taken 20.12.2024 at 11:12 from the web or trading platform of Plus500. | In-house built CFD platform | FCAASICCySec | plus500.comreview EUR/USD*: 0.8 pips Spread was taken 20.12.2024 at 11:12 from the web or trading platform of Plus500. 80% of retail investor accounts lose money when trading CFDs with this provider |
* The spread is variable for most brokers and changes depending on market volatility.
Between 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you can afford to take the high risk of losing your money.
Comparing spreads, fees, trading platforms, regulations and reading dozens of user reviews of all popular FX and CFD brokers is very time-consuming for every trader. That is why we have done all this hard work for you so you could already only start trading with a company that features a quick modern trading platform, a large variety of assets and a quick customer service. From our comparisons, all these criteria are met by Etoro 51% of retail investor accounts lose money when trading CFDs with this provider - advertising partner.
That is why it is important to choose the right one. Choosing the right broker often stands between profit and loss. Don't you know how to choose? We have prepared an independent article for you, which will help you with your broker selection. You will get to know, what factors are important to watch out for when you are choosing a forex/CFD broker.
If you have any experience with iForex, please share it in the comments to help others to choose the suitable broker.
I hopped on the iForex bandwagon about a week ago, and already I am satisfied with my decision to choose this broker. However, before I decided to start trading here, I spent a lot of time exploring more about the broker, its reputation, trading terms and everything. I read tons of reviews and articles.
This is one of the most reputable brokerages you can find out there, and it is not surprising at all if you know that they have been in the business for more than 20 years.
I liked that there is a welcome package offered to new clients that are new to trading, with a strong focus on learning – this is what I needed 👍
I don’t understand much about trading conditions, I mean I know, but can’t compare with others since I don’t have that much experience. Anyway, I like the spreads, they are tight, and there are no additional trading commissions. I am focused on major forex pairs in this phase, and spreads here are incredibly tight 👍
And one more thing… its trading app is really simple to learn 👏
Gotta be honest here I didnt like the platform at first. But after using it sometimes on my phone, then I understood that it is actually not that bad.
iforex did a nice job here building this plafform, its obvious that they put some serious effort into it. What I like the most is the smoothness in operations, when I open a trade it opends, when I close it closes. Those who trade on minimal timeframes know the importance of a timely opening, because a cople of seconds late entry can decreasy my RR from 1:30 to 1:10, this is how it works tho.
Can someone imagine that the iForex company has been operating since 1996 and it is already almost for over 30 years. Honestly, I don’t know any brokerage companies which could boast such longevity as iForex broker even though I have been in the trading field for a long time and have worked with many different brokers.
Btw, currently I’m trading through this broker and I can’t name any serious disadvantages of the company and it is noticeable that iForex is able to provide modern services. For instance, recently they added the AI assistant which can help you to find the information quicker. 🥸
Seems like a good enough info to me, but the spread for EURUSD is not true, for me there were many many times where EURUSD was way below 1.8 pips. In fact, its closer to 1 pip most of the time for me.
The GBPUSD thing is also not quite true, its not 2.1 pip, its closer to 1-1.5 pips. How is 2.1 minimal here? wtf Its’ been way lower man.
the usd/jpy I dont trade on iForex, no comment there.
Wow, I did some calculations 🙂 and see that the broker has been for almost 3 decades in the business. This is a huge time for a broker. It means that the company has managed to withstand all those financial turmoils that happened in that period.
Coverage of various markets is an excellent feature of the broker as I can think ahead what market to prioritize. Because different markets present different patterns and some are uncorrelated.
The spreads are thin as well to me. enough to practice scalping.
An amazing brokerage firm in general.
Yes, on this site quite a detailed description of broker’s peculiarities and both advantages and disadvantages are indicated.
But it seems to me that MetaTrader4 trading platform listed as a separate criterion of broker’s quality is not correct.
Yes, MT4 platform has many advantages. But this platform is definitely not the only high-quality and multifunctional platform. Therefore, fact that broker doesn’t have such platform doesn’t mean that it is a disadvantage.
Other platforms that are used by brokers are also great tools.
Am I wrong?
A remarkable trading environment.
First of all, yes! The broker is safe, with decades of experience in their resume. That is something that cannot be overlooked.
The transactions that are made on the platform are actually very smooth and convenient. The deposits and withdrawals never take too long, and they are very easy to process.
Then, we now have the trading software of the broker. It is unique from all the others out there, but it by no means compromises its quality and dependability. It is very easy to use the platform, and it has come to become one of my favs to use.
Twenty plus years of broekrage.
The broker is above the average that you can find on the market these days.
There is one thing that iForex has that no other broker does. It’s the immense amount of years in the forex business.
The company itself was established in 1996. Which gives us 25+ years of market experience.
It automatically gives me a certain vibe of security. I want to trust my money to the broker that navigated through all those years of financial ups and downs.
Although I have to say that I expect iForex to provide more options in terms of trading software.
I like the attitude of this broker to its customerss. Yes, a lot of people write about the trading conditions, etc. But I want to note that this broker takes care of its customers.
This is expressed in the fact that for each language group or group of traders with a certain experience, the broker provides a comfortablee environment.
My experience with iForex has been complex, full of ups and downs, successes and disappointments. While the service and support were somewhat satisfactory, there was still ample space for improvement in various areas, such as information depth and content quality.
The limited resources made me unable to easily access important trading insights that other platforms provide. However, amidst all these challenges, one redeeming factor stood out: its platform’s user-friendly interface, which is an excellent choice for beginner-level traders.
The most important thing about iForex that potential clients should know is that the broker is a very credible one with the decades of competence in the forex industry. The rest is depends on you and your skill.