iFOREX at a glance
iFOREX is a long-running CFD and forex broker founded in 1996, with its group listed on the London Stock Exchange, offering forex, share CFDs, commodities, indices, ETFs and crypto on a proprietary platform.
iFOREX reports a founding year of 1996 and a head office in Limassol, Cyprus (European Operations) / Road Town, Tortola, British Virgin Islands (International Operations). It lists 2 regulators and 5 trading platforms.
BrokerBazaar verdict
iFOREX is one of the retail trading industry's longest-operating broker brands (founded in 1996), operating via CySEC in Europe (iCFD Limited, Lic. 143/11) and BVI FSC internationally (Formula Investment House Ltd). Featuring a proprietary trading interface, commission-free CFD pricing, and direct educational coaching, it offers a functional environment for retail CFD traders, though its proprietary-only software and offshore international routing warrant careful account selection.
Legal entities, regulation and licences
iFOREX operates through 2 legal entities, each supervised separately. Your account is with one specific entity, so the protections you receive depend on which one onboards you, not on the group's strongest licence. Overall, the group is supervised by no regulator we could map to a public register.
Licence check: Not independently checked. This broker has submitted its details. BrokerBazaar has not yet independently checked them. A company registration or general business licence is not permission to offer regulated brokerage services; only the register entries linked in the table count.
Countries accepted and restricted
iFOREX states that it accepts clients from International (100+ countries; strictly excludes residents of the United States, Canada, and FATF blacklisted jurisdictions). Availability is decided per entity and can change without notice; residents of jurisdictions such as the USA, and often the EU and UK, are frequently excluded from offshore entities.
Trading products, platforms and account types
Instruments: Forex, Stock CFDs, Commodity CFDs, Index CFDs, ETF CFDs, Cryptocurrency CFDs. Platforms: iFOREX Mobile App, iFOREX WebTrader, FXnet Platform, iFOREX-One, iFOREX app. Account types: Standard Account, Islamic Swap-Free Account, Professional Account, Demo Account.
Best-for tags assigned by our team: Forex Trading, CFD Trading, Proprietary Trading Platform, 1-on-1 Coaching, Beginners, Negative Balance Protection, Islamic Account.
Minimum deposit, spreads, commissions and other charges
The minimum deposit is $100. Spreads start from Not supplied and commission is Not supplied. Maximum leverage is 1:400, subject to the cap of the entity that holds your account.
Swap-free / Islamic account: not specified. Swap type: not specified. Headline spreads are usually quoted for the most expensive account tier's cheapest instrument; compare total cost for your typical trade.
Deposits and withdrawals
Deposit methods: Credit Card, Debit Card, Bank Wire Transfer, Neteller, Skrill, Apple Pay, Local Payment Methods. Withdrawal methods: Credit Card, Debit Card, Bank Wire Transfer, Neteller, Skrill.
Withdrawal speed and fees are set by the entity and payment provider. Withdrawal delays are the most common complaint category on BrokerBazaar across all brokers; keep identity documents current and withdraw to the same method you deposited with where required by anti-money-laundering rules.
Execution model, negative balance protection and client money
Negative balance protection: Not specified. Scalping allowed: Not specified. Algorithmic trading allowed: Not specified. News trading allowed: Not specified. Hedging: not specified.
Client-money rules follow the regulator of the entity that holds your account. Check that regulator's rules on its register.
Complaints and dispute process
Formal complaints: complaints@iforex.eu. Phone: +357 2520 4600. Grievances must be submitted in writing first to the Compliance Department of the respective entity. Unresolved European disputes under iCFD Limited can be referred to the Financial Ombudsman of the Republic of Cyprus (retail client claims protected by the CySEC Investor Compensation Fund up to €20,000). Offshore accounts contracted under Formula Investment House Ltd fall under the jurisdiction of the BVI FSC. Client capital is held in segregated accounts with tier-one banking institutions, supported by standard negative balance protection.
If the broker does not resolve a complaint, escalate to the ombudsman or regulator of the entity that holds your account. BrokerBazaar's Dispute Support Desk can help you document and escalate a case.
Strengths and limitations
- Strength: Long-standing corporate track record operating continuously in online retail brokerage since 1996
- Strength: Licensed by the Cyprus Securities and Exchange Commission (CySEC) providing EU retail protection
- Strength: Beginner-friendly educational ecosystem featuring dedicated 1-on-1 personal coaching sessions
- Strength: Proprietary mobile and web platform with integrated charting tools and negative balance protection
- Limitation: Does not support standard third-party meta-terminals (MetaTrader 4, MetaTrader 5, or cTrader)
- Limitation: Global retail accounts contracted via BVI FSC lack tier-one statutory statutory compensation schemes
- Limitation: Inactivity fees apply to accounts left dormant for extended consecutive periods
- Limitation: Does not provide direct physical cash equity purchases or CHESS-sponsored shares (CFD execution only)
Who this broker suits, and who it does not
iFOREX is most relevant to traders looking for: Forex Trading, CFD Trading, Proprietary Trading Platform, 1-on-1 Coaching, Beginners, Negative Balance Protection, Islamic Account.
It is less suitable for anyone who needs a strict-tier regulator in their own country of residence, for residents of restricted jurisdictions, and for beginners who have not yet understood leverage and margin. Nothing on this page is personal financial advice.
iFOREX change history
Every published fact change, with the previous value and the date it took effect. Each entry says whether the broker made the change itself or our editors checked it against an official source. Regulation and licence claims are always checked by an editor.
No fact changes recorded for iFOREX yet. Changes appear here as soon as the broker updates its profile or our editors confirm a change.
Frequently asked questions about iFOREX
Data sources. Broker submission, the regulator registers linked above, iFOREX registration document; CySEC register; LSE annual report announcement, web-archive and domain records, and third-party traffic data. Last register check 2026-09-28. External ratings: Google Play Store 4.4/5; Apple App Store 4/5; Trustpilot 4.4/5; WikiFX 5.73/10; Forex Peace Army 2.2/5; Google Play Store 4.4/5.
Commercial disclosure. BrokerBazaar is independent and not owned by any broker. We have no commercial relationship with iFOREX. How we make money. Trading leveraged products carries a high risk of loss.