iFOREX Spreads, leverage, minimum deposit Revealed

Registered Country/Area	Cyprus
Founded Year	10-15 years ago
Company Name	iFOREX
Regulation	Regulated by the Cyprus Securities and Exchange Commission (CySEC) under license number 143/11
Minimum Deposit	Not specified
Maximum Leverage	Up to 400x
Spreads	Spreads for cryptocurrencies can be as low as 0.25%
Trading Platforms	FXnet (web trading platform) and iFOREX Europe app (mobile trading platform)
Tradable Assets	Over 750 CFD instruments including currency pairs, commodities, indices, shares, ETFs, cryptocurrencies, and non-leveraged CFDs
Account Types	Demo account available
Demo Account	Available for traders to practice trading skills
Islamic Account	Not specified
Customer Support	Available from Monday to Friday, between 04:00-20:00 GMT. Contact numbers provided for general inquiries, customer service, technical support, compliance, and documentation-related matters
Payment Methods	Bank Wire, Credit Card, Debit Card, eWallets (Neteller, Skrill, paysafecard, Bitcoin, perfectmoney, Digital (Crypto) Wallets, Google Pay, Voucherry), and Prepaid Cards (paysafecard)

Overview of iFOREX

　　iFOREX is a broker that operates under the regulation of the Cyprus Securities and Exchange Commission (CySEC) with a license number 143/11. It has been in operation for 10-15 years. However, there have been risk alerts and negative feedback associated with iFOREX, including complaints and a negative field survey review within the past 3 months. It is important for potential users to exercise caution and consider these factors.

　　iFOREX offers a wide range of trading instruments, including currency pairs, commodities, indices, shares, ETFs, cryptocurrencies, and non-leveraged CFDs. Traders can take advantage of leverage options up to 400x on over 750 assets. The broker provides trading platforms such as FXnet and the iFOREX Europe app.

　　Educational resources are available to help traders improve their skills, and various trading tools such as an economic calendar and live rates are provided. iFOREX offers different payment methods for deposits, including bank wire, credit cards, eWallets, and prepaid cards. Customer support services are also available during specific hours.

　　Considering the risk alerts and negative feedback mentioned, potential users of iFOREX should carefully evaluate the information provided and conduct further research to make an informed decision.

　　

Pros and Cons

　　

　　iFOREX offers a range of trading opportunities in various global markets through its regulated brokerage services. It provides a diverse selection of over 750 CFD instruments, including currency pairs, commodities, indices, shares, ETFs, cryptocurrencies, and non-leveraged assets. The broker is licensed by the Cyprus Securities and Exchange Commission (CySEC) and operates under strict regulations. However, it is important to be aware of some risk alerts and negative feedback associated with iFOREX, as reported by WikiFX. Traders can access the iFOREX platforms, FXnet and the iFOREX Europe app, which offer customizable interfaces and a variety of trading tools. The broker also provides educational resources, bonuses, and promotions to support traders in their trading journey. iFOREX accepts multiple payment methods for deposits, and customer support services are available during specified hours. It is essential to consider all these factors and conduct thorough research before engaging with iFOREX.

Pros	Cons
Regulated by CySEC	Risk alerts and negative feedback
Diverse range of CFD instruments	No trading software available
Personalized 1-on-1 training sessions	Limited availability of trading platforms
Educational resources to improve trading skills	Limited customer support hours
Variety of payment methods for deposits	Limited physical presence in certain countries
Bonuses and promotions

Is iFOREX Legit？

　　

　　iFOREX is a regulated broker by the Cyprus Securities and Exchange Commission (CySEC). It operates under the license number 143/11 and is regulated by the regulatory agency in Cyprus. The licensed institution responsible for iFOREX is ICFD Ltd, and its effective date of regulation is May 23, 2011. The broker's website is available at www.iforex.eu, as well as other country-specific domains such as www.iforex.pl, www.iforex.nl, www.iforex.es, www.iforex.fr, www.iforex.it, www.iforex.gr, de.iforex.eu, https://hu.iforex.eu, and https://cz.iforex.eu. The address of the licensed institution is either Corner of Agiou Andreou and Eleftheriou Venizelou Str, Vashiotis Agiou Andreou Bld, 2nd Floor - Office 201, CY-3035 Limassol or P. O. Box 54216, CY-37. The phone number for the licensed institution is +35725204600.

　　However, it is important to note that there have been some risk alerts and negative feedback regarding iFOREX. According to WikiFX, within the past 3 months, there have been 7 complaints received and 1 negative field survey review for this broker. Additionally, WikiFX mentions that there is no trading software available for this broker. These alerts serve as a cautionary note regarding potential risks or scams associated with iFOREX.

　　

Market Instruments

　　

　　iFOREX Europe offers a diverse range of over 750 CFD instruments that allow traders to explore opportunities in various global markets. The available market instruments are categorized into different types, including currency pairs CFDs, commodity CFDs, indices CFDs, share CFDs, ETFs CFDs, cryptocurrencies CFDs, and non-leveraged CFDs.

　　Currency pairs CFDs

　　Currency pairs CFDs provide traders with the opportunity to invest in a wide selection of currency pairs from around the world. With leverage of up to 30:1 and low spreads, traders can take advantage of market fluctuations and trade in any direction. iFOREX Europe offers informative resources and tools to assist traders in staying updated and making informed decisions.

　　Commodity CFDs

　　Commodity CFDs enable traders to invest in popular commodities without the need to physically buy or store them. With a variety of precious metals, energy assets, and agricultural commodities available, traders can benefit from low spreads and utilize advanced trading tools for trading. Daily news and analysis channels are also provided to keep traders informed about market changes.

　　Indices CFDs

　　Indices CFDs allow traders to invest in well-known indices, such as the US 30, US 500, and Germany 40, among others. With leverage of up to 20:1, traders can access a wide range of indices from different markets and utilize advanced trading tools for portfolio management.

　　Share CFDs

　　Share CFDs offer the opportunity to diversify portfolios by trading shares from various industries and regions. iFOREX Europe provides share CFDs from industries like tech, banking, aviation, and more. Enhanced leverage of 5:1 is available for Japanese, US, and European shares, allowing traders to maximize their trading potential.

　　ETFs CFDs

　　ETFs CFDs enable traders to trade a wide variety of Exchange Traded Funds, which track indices, commodities, bonds, or baskets of assets. By trading ETFs, traders can diversify their investments and utilize innovative trading tools for an enhanced trading experience.

　　Cryptocurrencies CFDs

　　Cryptocurrencies CFDs allow traders to invest in popular cryptocurrencies such as Bitcoin, Litecoin, and Ripple, among others. Traders can take part in the cryptocurrency market with leverage, access rates, charts, and daily market information to make informed trading decisions.

　　Non-leveraged CFDs

　　Non-leveraged CFDs offer traders the opportunity to trade prominent shares and cryptocurrencies without leverage. This type of trading reduces portfolio risk and exposure, making it suitable for medium to long-term investments. Traders can open long positions without paying maintenance or holding fees.

　　

Pros	Cons
Diverse range of over 750 CFD instruments covering various global markets	No mention of specific trading fees or charges
Leverage options available for currency pairs, indices, and shares CFDs	Lack of information on customer support quality
Non-leveraged CFDs for reduced portfolio risk	Limited information on available trading platforms
Advanced trading tools	No mention of educational resources or training materials
Daily news and analysis channels for market updates	Limited information on account types and benefits
Informative resources and tools for staying updated and making informed decisions	No information on regulatory compliance or licensing

Account Types

　　

　　iFOREX offers a demo account for traders to practice their trading skills. A demo account is a simulated trading environment where traders can trade with virtual funds without risking real money.

How to Open an Account

　　

　　To open an account with iFOREX, follow these steps:

1. 　　Visit the iFOREX website and click on the “Register” button. This will usually be prominently displayed on the homepage.

1. 　　Fill in the required information on the registration form. You will need to provide your full name, email address, password, and phone number. The phone number should include the appropriate country code.

2. 　　Once you have filled in all the necessary details, click on the “Start now” button to proceed.

1. 　　After completing the registration process, you may be required to verify your email address. Check your inbox for a confirmation email from iFOREX and follow the instructions provided to verify your account.

2. 　　Once your account is verified, you can log in to your iFOREX account using your registered email address and password.

Leverage

　　

　　iFOREX offers leverage options to its clients, allowing them to trade with amplified exposure to the financial markets. With iFOREX, traders can access leverage up to 400x on a wide range of over 750 assets.

　　

Spreads & Commissions

　　 FOREX offers spreads for cryptocurrencies that can be as low as 0.25%. These spreads refer to the difference between the buying and selling prices of cryptocurrencies on the iFOREX platform.

Bonuses & Promotions

　　

　　iFOREX offers a range of bonuses and promotions to enhance the trading experience for its users. One of the key offerings is a 100% Welcome Bonus* that is tailored to the individual trading needs of each user. This bonus aims to provide traders with the tools and conditions that best suit their requirements, ensuring a personalized trading experience from the start.

　　To assist new traders in getting started, iFOREX provides free 1-on-1 training with a trading coach. This personalized training is designed to help traders gain confidence and develop their skills in the financial markets.

　　iFOREX also offers an Education Package, which provides traders with valuable resources to deepen their understanding of trading. This package includes 1-on-1 training, a comprehensive trader guide, video tutorials, a demo account for practice, educational articles, and more. These resources are intended to equip traders with the knowledge and insights necessary for successful trading.

　　For traders looking to further enhance their skills, iFOREX offers a Pro Package. This package includes advanced 1-on-1 training, free trading signals, educational articles, and additional features. By providing these advanced tools and resources, iFOREX aims to support traders in taking their trading skills to the next level.

　　

Trading Platforms

　　

　　iFOREX offers two trading platforms: FXnet and the iFOREX Europe app.

　　FXnet is a web trading platform that has been tailor-made to address the specific needs and preferences of iFOREX clients. It has been developed and adapted based on client feedback and aims to provide a comprehensive solution. The platform offers a user-friendly interface that can be fully customized to meet individual requirements. It provides access to a wide range of trading tools and features, including charts, market sentiment indicators, and decision-making tools. With FXnet, traders have the option to trade over 750 instruments.

　　The iFOREX Europe app is a mobile trading platform designed to cater to the needs of traders who prefer to trade on the go. It is compatible with multiple mobile devices and can be downloaded for free from the App Store and Google Play. The app allows users to quickly place trades and monitor their positions in real time. It provides complete access to account information, including wallet balance, equity, and margin details. Additionally, traders can receive market updates and account notifications as they occur.

Pros	Cons
FXnet offers a tailor-made web platform	No mention of advanced features
User-friendly interface	Limited information on customization
Access to a wide range of trading tools	No specific details on market analysis
iFOREX Europe app for mobile trading	No mention of advanced order types
Compatible with multiple devices	Limited information on technical support
Free download from App Store and Google Play	No information on platform stability

Trading Tools

　　

　　iFOREX provides various trading tools to assist traders in making informed decisions.

　　One of these tools is an economic calendar, which allows traders to stay updated on major market events and news. The calendar is regularly updated and can be filtered to narrow down specific searches.

　　Another tool offered by iFOREX is the Live Rates feature. This tool provides real-time rates for hundreds of CFD instruments. Traders can monitor price changes across different economies and markets, including shares, commodities, indices, ETFs, currencies, and cryptocurrencies. This information can be valuable in making informed trading decisions.

　　Additionally, iFOREX offers a news and analysis archive. This tool allows traders to access past news and analysis to stay informed and make well-informed trading decisions. The archive provides a historical record of events and market developments that may have an impact on trading.

Pros	Cons
Economic calendar for market updates	Limited customization options for the calendar
Real-time rates for hundreds of CFDs	Lack of advanced technical analysis tools
News and analysis archive	Limited historical data available in the archive

Educational Resources

　　

　　iFOREX provides a range of educational resources to help traders gain insight into the financial markets and improve their trading skills. These resources cover various topics and are suitable for traders of all levels, from beginners to advanced traders. The educational resources are designed to enhance understanding of the global markets, online trading, and the available trading tools.

　　The basic educational resources offered by iFOREX include articles on topics such as “What is Forex？” and “What is CFD Trading？” These articles provide fundamental knowledge about these trading concepts. Additionally, there are resources explaining concepts like leverage and stop-loss, which are important for risk management in trading. A simple trading example is also provided to help traders understand the practical application of these concepts.

　　For those looking to expand their knowledge further, iFOREX offers advanced educational resources. These cover topics such as online trading, ETF trading, Bitcoin, cryptocurrency trading, investing in oil, silver and gold trading, commodity trading overview, volatility, market sentiment, and index trading. These resources provide more in-depth information and advanced trading strategies to help traders make informed decisions.

　　

Pros	Cons
Comprehensive educational resources	No specific mention of interactive learning opportunities
Suitable for traders of all levels	No live webinars or online courses
Covers a wide range of trading topics	Limited availability of video tutorials
Provides fundamental knowledge	No mention of trading simulations or practice accounts
Offers advanced resources for in-depth learning	No mention of educational webinars
Focuses on risk management and practical application	No personalized learning options
Covers various financial markets and trading tools	No mention of educational eBooks or guides

Payment Methods

　　

　　iFOREX offers a variety of payment methods to facilitate deposits, both online and offline. The available options include Bank Wire, Credit Card, Debit Card, eWallets, and Prepaid Cards. It is important to note that iFOREX does not charge any commission for these transactions, although fees may be applied by the payment service provider.

　　For users in Jordan, iFOREX accepts Credit/Debit Card payments. They support Visa, Mastercard, American Express, Diners, Discover, and Apple Pay. The available currencies for these cards vary, including USD, EUR, GBP, and JPY. The processing time for these transactions is instant, ensuring prompt funding of your account.

　　iFOREX also provides the option of using eWallets for payments. They support Neteller, Skrill, paysafecard, Bitcoin, perfectmoney, Digital (Crypto) Wallets, Google Pay, and Voucherry. Again, no additional fees are charged by iFOREX for using these eWallets, but charges may be applied by the payment service provider. The available currencies and maximum amounts may differ depending on the specific eWallet chosen. For example, Neteller supports currencies such as INR, USD, EUR, GBP, and JPY, while Skrill accepts USD, EUR, GBP, JPY, and CHF, with a maximum amount of 10,000 USD.

　　Lastly, iFOREX offers the option of using Prepaid Cards, specifically paysafecard. Similar to other payment methods, no extra fees are imposed by iFOREX for using prepaid cards. The available currencies for paysafecard include USD, EUR, GBP, and CHF, with a maximum amount of 1,000 USD. The processing time for prepaid card transactions is also instant.

Pros	Cons
Multiple payment options available	Fees may be applied by the payment service provider
Online and offline deposit methods	Different eWallets have varying currencies and maximum amounts
Instant processing time for most transactions	Some payment methods have maximum limits
No commission charges on transactions

　　

Customer Support

　　

　　iFOREX provides customer support services to assist users with their inquiries, comments, and requests. The company emphasizes the combination of advanced technology and premium customer support. Contacting iFOREX Europe is described as quick and easy. The availability of customer support is from Monday to Friday, between 04:00-20:00 GMT.

　　Various contact numbers are provided for different purposes. General inquiries can be made through +357-252-04600, while customer service and technical support have lines at +357-252-04694. Compliance and documentation-related matters can be addressed by calling +357-252-04668. The office address is specified as the Corner of Agiou Andreou & Venizelou Streets, Vashiotos Agiou Andreou Building, Second Floor, P.O.B 54216, Limassol, Cyprus.

　　For communication through email, different addresses are provided for specific purposes. The general email address is info@iforex.eu. Customer service inquiries can be directed to cs@iforex.eu, technical support to tech@iforex.eu, dealing room-related matters to dealing@iforex.eu, and data protection concerns to dpo@iforex.eu. Affiliates can contact partners@activelyinvesting.com.

　　European customers are provided with specific phone numbers for different countries, including Austria, France, Germany, Greece, Hungary, Italy, Netherlands, Poland, Romania, Spain, and Sweden. It is worth noting that iFOREX Europe is based in Cyprus and does not have physical presence in the Netherlands, Spain, Hungary, Poland, Austria, Sweden, or Greece.

　　

Conclusion

　　In conclusion, iFOREX is a regulated broker by the Cyprus Securities and Exchange Commission (CySEC), operating under the license number 143/11. It offers a diverse range of over 750 CFD instruments, including currency pairs, commodities, indices, shares, ETFs, cryptocurrencies, and non-leveraged CFDs. While iFOREX provides various educational resources, trading tools, and payment methods, it is important to note that there have been risk alerts and negative feedback regarding the broker, including complaints and a lack of trading software according to WikiFX. These factors should be taken into consideration when evaluating iFOREX as a potential trading platform.

FAQs

　　Q: Is iFOREX a legitimate broker？

　　A: Yes, iFOREX is a regulated broker by the Cyprus Securities and Exchange Commission (CySEC) under license number 143/11. It operates under the supervision of the regulatory agency in Cyprus and is licensed by ICFD Ltd.

　　Q: What are the available market instruments on iFOREX？

　　A: iFOREX offers a diverse range of over 750 CFD instruments, including currency pairs, commodities, indices, shares, ETFs, cryptocurrencies, and non-leveraged CFDs.

　　Q: How can I open an account with iFOREX？

　　A: To open an account, visit the iFOREX website, click on the “Register” button, fill in the required information such as your full name, email address, password, and phone number, and complete the registration process. Verify your email address and then log in using your registered email and password.

　　Q: What leverage options are available on iFOREX？

　　A: iFOREX offers leverage options of up to 400x on a wide range of over 750 assets.

　　Q: What are the available trading platforms on iFOREX？

　　A: iFOREX offers two trading platforms: FXnet, a web-based platform that can be customized, and the iFOREX Europe app, a mobile platform for trading on the go.

　　Q: What trading tools does iFOREX provide？

　　A: iFOREX provides trading tools such as an economic calendar to stay updated on market events, live rates for real-time pricing information, and a news and analysis archive for historical market information.

　　Q: What educational resources are available on iFOREX？

　　A: iFOREX offers a range of educational resources, including articles, guides, video tutorials, a demo account for practice, and advanced trading strategies covering various topics such as Forex, CFD trading, cryptocurrencies, commodities, and more.

　　Q: What payment methods does iFOREX accept？

　　A: iFOREX accepts various payment methods, including bank wire, credit/debit cards, eWallets (Neteller, Skrill, etc.), and prepaid cards (paysafecard).

　　Q: How can I contact iFOREX customer support？

　　A: iFOREX provides customer support via phone and email. Contact numbers and email addresses are available for general inquiries, customer service, technical support, compliance/documentation matters, and affiliates. The customer support availability is from Monday to Friday, between 04:00-20:00 GMT.