iFOREX is a well-established online broker that has been active since 1996, making it one of the longest-standing players in the industry. Operated by Formula Investment House Ltd and regulated by the BVIFSC, iFOREX offers trading in forex, commodities, indices, shares, and cryptocurrencies via its proprietary platform. While its longevity speaks to a level of trust and experience, there are several important considerations for potential traders.

Platform & Usability

iFOREX does not use the widely adopted MetaTrader platforms. Instead, it offers its own proprietary web and mobile trading platforms. The platform is clean and beginner-friendly but lacks the depth of customization and automated trading features that many advanced users expect.

Asset Variety

iFOREX provides access to hundreds of CFDs across multiple asset classes, including forex pairs, stocks, indices, and cryptocurrencies. All assets are traded as CFDs—there’s no direct ownership, which may not appeal to long-term investors.

Fees & Spreads

The broker uses a spread-only pricing model, meaning no direct commissions but variable spreads. These spreads can be wider than industry averages, especially during market volatility. Additionally, traders should note the presence of an inactivity fee.

Regulation & Safety

While iFOREX is regulated by the BVIFSC, this is considered an offshore jurisdiction with less stringent oversight than regulators like the FCA or CySEC. Clients should be aware that investor protection may be more limited.

Education & Support

iFOREX offers a range of educational tools and resources for new traders, including video tutorials, articles, and one-on-one coaching. Customer support is multilingual and available via live chat, phone, and email.

Verdict

iFOREX is a decent choice for beginner to intermediate traders seeking simplicity and variety in trading instruments. However, the lack of robust regulation and limited advanced tools may make it less suitable for professional traders.