Broker Review · last checked July 2, 2026
iFOREX Review
iFOREX is a long-established CFD broker claiming oversight by the BVI FSC and a CySEC-licensed European arm. This review focuses on the documented facts, where the broker is transparent, and where traders must confirm details within their account before funding.
- Public broker and legal pages reviewed
- Regulatory claims cross-checked against official sources
- Deposits, withdrawals, and platform claims checked on current pages
iFOREX at a glance
Listing status: Eligible With Caution · regulated, cysec, bitcoin, mt5
Our verdict
iFOREX seems to be a genuine, long-standing broker brand with an active website, published legal framework, and detailed platform and funding information. The key question is not whether the brand exists but which legal entity and jurisdiction govern your account and what client rules apply. Before depositing, verify the entity name, regulator, withdrawal terms, and any regional limitations.
Who this broker suits
- Traders who want a long-running brand with a proprietary platform and public legal pages
- Users who prefer a broker with visible fee, funding, and platform disclosures
- Traders who will verify the exact onboarding entity and local eligibility before depositing
- You want a broker with only top-tier onshore regulation
- You require MT4 or MT5 specifically
- You do not want to deal with region-dependent funding or account terms
Entity and regulation table
| Entity / brand | Regulatory status | Regulator / register | Evidence notes |
|---|---|---|---|
| Formula Investment House Ltd. | Authorised investment firm | BVI FSC regulated entities | BVI FSC lists it as currently regulated; entity type: Dealing as Principal. Official site says iFOREX site is operated by this company. |
| ICFD Ltd | Authorised investment firm | CySEC public register | CySEC licence 143/11; company reg. 254495; approved trade name iFOREX Europe. Former name: iFOREX (Cyprus) Ltd. |
| Formula Investment House B.O.S Ltd. | Not Verified In Public Registers | Official website / legal docs | Named on iFOREX legal pages as providing treasury and back-office services; no regulator licence verified in public registers. |
| iFOREX brand website | Broker website / support centre | Official website | Consumer-facing site operated by Formula Investment House Ltd.; legal pages and client docs hosted on iforex.com. |
| IFOREX OPTION24 | Unauthorised — Fca Warning | Fca Warning List | FCA warning page names IFOREX OPTION24; warning published 2023. Separate from the iFOREX brand/entity unless matched exactly. |
Key facts table
| Topic | What the public site says | Research note |
|---|---|---|
| Founded | 1996 | Stated on the about page. |
| Platform type | Proprietary web and mobile platform | No official evidence found on the reviewed pages for MT4 or MT5 support. |
| Markets | Forex, commodities, indices, shares, cryptocurrencies | Stated in the trading conditions page. |
| Minimum deposit | Varies by region and payment method | The funding page does not give one universal figure. |
| Deposit/withdrawal fees | iFOREX says it generally does not charge these fees | Third-party bank or payment fees may still apply. |
| Withdrawals | Usually processed within a few business days after approval | The final timing depends on method and institution. |
| Support | 24/5 live human support claimed | Verify hours and channels from the contact page for your region. |
All figures and features should be verified inside the account area before funding.
Alternatives to iFOREX
| Broker | Comparison score | Regulator signals | Platforms | Why compare | Review |
|---|---|---|---|---|---|
 XTB | 75.5 | FCA, CySEC, KNF | xStation, xStation mobile app | Readers who want a broker with publicly disclosed multi-jurisdiction regulation, Users who value transparent fee pages and entity-level lega | Read review |
 Capital.com | 73.5 | CySEC, Securities Commission of The Bahamas | Proprietary web platform, Mobile app, TradingView | Readers who want a broker with clear public legal-entity and regulator disclosures, Users looking for a proprietary web/mobile platform plus | Read review |
 Colmex Pro | 70 | Cyprus Securities and Exchange Commission (CySEC), Financial Sector Conduct Authority (South Africa) | Colmex Pro 2.0, MT4, Web Trader | Readers who want a CySEC-listed broker with publicly verifiable entity details, Traders comparing U.S. equities-focused platforms and MT4 av | Read review |
 CMC Markets | 69.5 | FCA | Next Generation, MT4, MT5 | Traders who want a well-documented broker with clear public legal disclosures, Users who value proprietary platform depth alongside MT4/MT5 | Read review |
 Interactive Brokers | 68 | SEC, FINRA | IBKR Desktop, IBKR Mobile, Trader Workstation (TWS) | Experienced traders who want a broad platform lineup, Users who value detailed public disclosures, Clients who want multiple funding and acc | Read review |
Alternatives are sorted by the TopOnlineForexBrokers comparison score as of July 2, 2026. The score is not a safety guarantee.
Overview
iFOREX positions itself as a veteran CFD broker operating since 1996, with proprietary web and mobile trading platforms alongside client tools like Pulse, Trading Signals, Today’s Opportunity, and Vault. According to its official site, the main brand runs via Formula Investment House Ltd., regulated by the British Virgin Islands Financial Services Commission (BVI FSC). It also states that a European subsidiary holds a CySEC license, number 143/11. The broker provides published information on payments, pricing, and trading conditions, which is a positive for transparency. Still, CFD traders should double-check the specific entity, regional documents, minimum deposit, and funding rules shown during their own account setup before transferring funds.
Pros
Established brand with a long history visible on its public site; uses a proprietary platform rather than a thinly rebranded white-label; publishes dedicated pages detailing pricing, deposits and withdrawals, and platform features; states client fund segregation, negative balance protection, and secure payment practices in its legal documents; and claims multilingual support.
Cons
Minimum deposit and other key terms vary by region and payment method, so the public site offers no single universal figure; marketing language is assertive and shouldn’t be taken as evidence of client outcomes; CFD trading remains risky even with regulation. Also, some traders might prefer MetaTrader platforms over iFOREX’s proprietary solution.
Safety and regulation
The main iFOREX site states that Formula Investment House Ltd. is licensed and supervised by the BVI FSC, and iFOREX’s legal pages affirm it is a regulated broker. The site also says its European subsidiary holds a CySEC license, number 143/11. The UK FCA has issued a warning about 'IFOREX OPTION24', which is unrelated to the current iFOREX brand; this highlights the need to verify exact entity names and contact details rather than assume connections. Always confirm the legal entity shown during account registration matches the regulator and entity listed on the broker’s legal pages.
Fees, account terms, and platform
iFOREX offers access to forex, commodities, indices, shares, and cryptocurrencies through a single account. Its pricing page states trading costs appear before placing a trade and vary by asset and deal size. The broker operates a proprietary web and mobile platform and provides tools such as Trading Signals, Pulse, Today’s Opportunity, The Trading Expert, and Vault. A trading-conditions page mentions a US$100 qualifying deposit tied to bonus terms, but this is not a universal minimum deposit. The funding page clarifies minimum deposits differ by region and payment method and are displayed during the deposit process.
Deposits and withdrawals
According to its payments page, iFOREX supports various payment methods, including credit and debit cards, bank wires, and alternative solutions, with availability depending on country and regulations. Deposits via cards and electronic payments are usually credited instantly or shortly after, while bank transfers can take several business days. Withdrawals are typically requested from the trading account and generally returned using the original deposit method when required. Account verification is mandatory before processing withdrawals. The broker aims to keep withdrawal costs transparent and generally does not charge fees, though banks or payment providers may apply their own.
Country availability caveat
iFOREX does not provide a straightforward universal country list on its public pages. Payment method availability explicitly depends on clients’ country of residence and regulatory requirements. This means you should not assume identical account structures, funding methods, or product access across jurisdictions. Confirm your local entity's acceptance and whether leveraged CFDs are offered where you live before opening an account.
Alternatives to compare
When comparing iFOREX to other brokers, pay attention to regulation, platform preferences, and funding conditions rather than marketing language. Key factors include whether a broker supports MT4/MT5, publishes clear fee tables, holds regulation in your jurisdiction, and offers straightforward withdrawals. If you want to benchmark before opening a CFD account, consider brokers regulated locally that provide clearer account-tier disclosures.
Common questions
Is iFOREX safe?
Public records show an active broker website with stated regulation and published legal documents, but no broker can guarantee safety. For CFD trading, the important point is whether the exact legal entity, regulator, and client-protection terms match your region and are properly disclosed.
What regulator is iFOREX under?
The site says Formula Investment House Ltd. is licensed and supervised by the BVI FSC, and the European subsidiary is licensed by CySEC under license 143/11. You should verify which entity applies to your account specifically.
What is the iFOREX minimum deposit?
The public payments page states minimum deposits vary by region and payment method and are shown during deposit. The trading-conditions page mentions a US$100 qualifying deposit related to bonuses, but this should not be mistaken for a universal minimum deposit.
Does iFOREX use MetaTrader?
Based on the pages reviewed, iFOREX promotes its own proprietary web and mobile platform with related tools. There is no official evidence on those pages that MT4 or MT5 are supported.
What markets can I trade with iFOREX?
Trading conditions state the platform offers CFDs on forex, commodities, indices, shares, ETFs, and cryptocurrencies, subject to regional availability.
How do deposits and withdrawals work?
iFOREX supports multiple deposit methods, with card and electronic payments usually credited quickly. Withdrawals typically return funds by the same method used for deposit when required. Verification is necessary before withdrawals proceed.
Is iFOREX available in my country?
The public site does not provide a single universal availability list. Whether you can open an account depends on the legal entity, your residence, and regulatory requirements, so check this directly before proceeding.
Check the details yourself
These are the pages we relied on. Read them before you open an account or send money anywhere.