Verification record
iFOREX review
The entity behind iFOREX, its licence, and how to confirm both yourself.
Last checked
iFOREX is a real firm and not an outright scam, though enough is unverified here that we would want the gaps closed before recommending it. Regulated by British Virgin Islands FSC (SIBA/L/13/1060); CySEC (143/11) through European group entity, offering iFOREX Web Platform, iFOREX Mobile App.
Our rating
One rating, identical across our sites - only the way it is shown changes. It averages six assessments: regulation, trading costs, platforms, markets, support and education.
Regulation and safety
- Regulated by
- British Virgin Islands FSC (SIBA/L/13/1060); CySEC (143/11) through European group entity
- Regulator tier
- Tier 2
- Register entry
- BVI FSC register, licence SIBA/L/13/1060
- Client money segregated
- Yes
- Held at
- Regulated banking institutions
- Negative balance protection
- Yes
- Compensation scheme
- Investor Compensation Fund up to €20,000 for eligible CySEC clients; no statutory investor compensation scheme for BVI clients
- Audited by
- Independent external auditors
- Not available to
- United States and other jurisdictions where iFOREX is not authorised to provide its services
A licence is the first thing a fake broker cannot produce, so it is the first thing to check.
iFOREX holds a tier-one authorisation from CySEC. That matters more than any headline spread: it determines your leverage cap, whether losses can exceed your deposit, and what happens to your money if the firm fails.
It also operates an offshore entity (FSC). Which one you are onboarded to depends on where you live, and the two carry very different protections - worth confirming before you deposit.
CySEC licences passport across the EU and follow the 1:30 retail leverage cap, with the Investor Compensation Fund covering eligible claims.
An FSC licence (Mauritius or Belize, depending on the entity) is an offshore authorisation with lighter reporting duties than a tier-one regulator.
Check the licence yourself: the CySEC register of investment firms.
The company behind the brand
- Legal entity
- Formula Investment House Ltd.
- Company number
- BVI incorporated investment firm
- Headquarters
- Herzliya, Israel
- Founded
- 1996
- Publicly listed
- No
- Parent company
- iFOREX Group
- Employees
- 200+
- Also trades as
- iFOREX; Formula Investment House
Deposits and withdrawals
- Deposit methods
- Credit/debit cards, bank wire transfer and alternative/regional payment solutions
- Withdrawal methods
- Bank transfer, cards and supported original funding methods
- Deposit time
- Cards/electronic payments generally instant; bank wires several business days
- Withdrawal time
- Usually processed within a few business days
- Minimum withdrawal
- $20
- Local payment methods
- Country-specific alternative payment solutions and local bank transfers
What it costs to trade
- Spread from
- 0.7 pips
- EUR/USD spread
- Approx. 0.8 pips
- GBP/USD spread
- Approx. 1.2 pips
- Commission
- $0
- All-in cost, EUR/USD
- Approx. 0.8 pips
- Spread type
- Variable
- Overnight swap
- Both: overnight financing may be charged or credited
- Inactivity fee
- $15 per quarter after 12 months inactivity
- Deposit fee
- None internally
- Withdrawal fee
- Generally none; $20 international wire transfer / $5 India local transfer
- Currency conversion
- Conversion at applicable exchange rate
Costs matter less than whether you can withdraw, but an offer that looks impossible usually is.
Spreads from 0.7 pips suggest an all-in account, where the broker's fee is built into the price rather than charged separately. There is usually no commission on top, which makes the cost easier to predict.
Quoted spreads are best-case figures on the most liquid pair, in normal conditions. What you actually pay widens around news and at the session open.
iFOREX lists a minimum deposit of $100. Treat it as the cost of opening an account, not the cost of trading one - position sizing on a small balance is what tends to cause damage.
Accounts
- Minimum deposit
- $100
- Account types
- Standard/Real, VIP, Islamic/Swap-Free, Trial/Demo
- Account currencies
- USD, EUR, GBP
- Islamic account
- Yes
- Demo account
- Yes
- Professional account
- Yes, jurisdiction-dependent
- Minimum trade size
- Instrument-dependent, approximately $100 notional on selected instruments
- Time to open
- Typically a few minutes
Markets and execution
- Markets
- Forex, Commodities, Indices, Shares, ETFs, Cryptocurrencies
- Currency pairs
- 90+
- Total instruments
- 750+
- Crypto CFDs
- Yes
- Maximum leverage
- 1:400
- Execution model
- Market maker / principal
- Execution speed
- Under 100ms
- Order types
- Market, limit, stop-loss, take-profit and conditional orders
- Servers
- Global trading infrastructure
Leverage up to 1:400 is available on this entity. High leverage does not increase your expected return - it increases position size for the same deposit, and shortens the move needed to close you out.
iFOREX covers forex, commodities, indices, shares, etfs, cryptocurrencies. A wider range matters less than depth in the instruments you actually trade.
Funding options: credit/debit cards, bank wire transfer and alternative/regional payment solutions. Check withdrawal routes as well as deposit ones - they are often not the same, and the difference only becomes apparent when you try to take money out.
Platforms and tools
- Platforms
- iFOREX Web Platform, iFOREX Mobile App
- Own platform
- Yes
- Mobile app
- Proprietary
- Browser trading
- Yes
- Automated trading
- No
- Copy trading
- No
- Indicators
- Multiple built-in technical indicators
- Third-party tools
- Trading signals and integrated market-analysis tools
- API access
- No standard retail API
iFOREX offers iFOREX Web Platform, iFOREX Mobile App. A proprietary platform can be excellent, but it means your setup does not transfer if you later change broker.
Support and education
- Support hours
- 24/5
- Contact channels
- Live chat, email, phone
- Languages
- Multilingual
- Telephone
- +30 210 374 2599
- cs@iforex.com
- Live chat response
- Typically within minutes
- Education
- Extensive: Trading Academy, structured lessons, videos, guides, tutorials and educational articles
- Research
- Market analysis, trading signals, technical analysis, financial events, live rates and daily market opportunities
Information is regularly updated. Last compiled from iFOREX's own website on 26 August 2026.
Questions people ask about iFOREX
Is iFOREX a real registered company?
Yes. At iFOREX, the company you would be contracting with is Formula Investment House Ltd., registered as BVI incorporated investment firm and based in Herzliya, Israel. A registration number is checkable in the register of the country that issued it, and a broker that will not give you one is telling you something.
Is iFOREX regulated, and by whom?
iFOREX holds British Virgin Islands FSC (SIBA/L/13/1060); CySEC (143/11) through European group entity, which we grade as tier 2. A licence number is the part worth checking, because it is the thing a cloned site copies and the thing the regulator's register will not confirm.
Does iFOREX trade under any other names?
iFOREX also appears as iFOREX and Formula Investment House. This matters when you are checking a licence or a warning list, because a search for one name will not always find what was published about another.