iForex Review

$25 no deposit bonus
Visit Broker


iForex company information iForex, founded in 1996 is a forex broker website used by many day traders and casual traders. One of the reasons is because iForex is not only… more

Read Full Review


Broker iForex
Website URL www.iforex.com
Founded 1996
Headquarters Athens, Greece
Support Number 30 210 374 2599 Fax: 30 210 374 2598
Support Types phone, Fax, email: [email protected]
Languages English, Dutch, French, German, Italian, Hebrew, Indonesian, Spanish, Polish, Portuguese, Romanian, Phillipean, Turkish, Russian, Arabic, Japanese, Chinese
Trading Platform iForex Trading Platform (Web Trader and downloadable software and app)
Minimum 1st Deposit $100
Minimum Account Size $100
Minimum Trade Amount $1
Maximum Trade Amount $100,000
Bonus $25 no deposit bonus
Payout within 72 hours
Leverage From 1:10 to 1:400
Spread Low competitive spreads which vary per asset
Free Demo Account No
Regulated Yes
Regulation Cyprus Securities and Exchange Commission (CySEC licence No. 143/11).
Fees Yes
Fee Info iForex has no hidden commissions, fees or costs
Commissions Yes
Commission Info iForex has no hidden commissions, fees or costs
Account Types Interest-Free Account (Islamic Account), Standard Account, Protected Account, Premium Account
Deposit Methods iDeal, wire transfer, instant bank transfer, Visa, Mastercard, Diner's Club, Sofort, giropay, Western Union. Neteller, Skrill/Moneybookers
Withdrawal Methods iDeal, wire transfer, instant bank transfer, Visa, Mastercard, Diner's Club, Sofort, giropay, Western Union. Neteller, Skrill/Moneybookers
Trading Methods Hedging, scalping, OCO Orders, Guaranteed Limit Orders, Guaranteed Stop Loss
Number of Assets 300+
Expiry Times Expiry rates on options and futures vary
Types of Assets Trade a wide variety of assets including stocks, commodities, forex, indices, ETF's, futures and options.
Option Types classic or normal options, binary options, futures
Trading Currency You can trade all forex pairs including minors and exotic pairs
Account Currency You can fund your iForex account with any major currency which will be converted to the set currency under the ''my account'' tab
US Traders Allowed No
Mobile Trading Yes
Tablet Trading Yes
Overall Score 8.9

Full Review

iForex company information
iForex, founded in 1996 is a forex broker website used by many day traders and casual traders. One of the reasons is because iForex is not only a CFD broker but offers all stock market related trading products: cod’s, stocks, forex, options, futures, bonds, indices and ETF’s. To differentiate from other forex brokers, iForex offers low fixed spreads on its assets and provides a live prize feed via an inter banking liquidity system. iForex also offers Negative Balance Protection, so that users of the iForex trading platform can never get a negative balance, even if their exposure is to low.

iForex trading platforms

iForex Trading Platform
This is the basic, windows trading platform of iForex. It requires a download and the pros are as following:
– Advanced integrated charts and statistics
– Fully customizable user interface
– Full screen function
– One-Click order execution

Web Based Trading Platform

The web based trading platform is suitable for those who don’t want to install anything on their computer or don’t have time for this. The web based trading platform is accessible via every browser and only requires an internet connection. If you don’t use one computer as your trading PC but would like to trade from any device, this is the trading platform suitable for you.

Mobile Trading Platform

The iForex mobile trading platform is designed specially for smartphone and tablet and is fully responsive. Traders can trade anywhere, anytime using their smartphone and tablet. The iForex mobile trading platform is downloadable as app in both the App store and Google Play and is compatible with Android and iOS devices.

iForex Trading Accounts

On iForex there are four different trading accounts available for day traders and investors:
– Interest-Free account (Islamic Account)
– Standard Account
– Premium Account
– Protected Account

Islamic accounts are based on the ‘’no interest’’ or ‘’no riba’’ principle. For traders and people that just want to try iForex there is the ‘’Protected Account’’, which is comparable with a demo account. However, a minimum deposit is required of at least $100. The idea behind the ‘’Protected Account’’ is that the first $100 is fully covered for 14 days after opening the account. This way iForex checks whether the trader would actually like to trade with real money and the company covers the first $100 as a token of gratitude.

iForex commissions, fees and costs

Whilst traders can use inter banking margin tools on iForex, iForex is not fully transparent in the spreads it charges her customers, although I know they are rather low, this is a bit of a con compared to other brokers.

iForex customer service

The iForex customer service is 24/5 reachable by phone, fax, email and live chat. The iForex customer support is available in over 12 different languages and tries to help respond to and help customers as quick as possible.

iForex reliability

iForex is fully regulated and licensed by CySEC. The brokerage company also protects it’s traders by offering 128 bit SSL encryption on all platforms, guaranteed stop-loss features and negative balance protection.

iForex pros

– Negative Balance Protection
– $25 free welcome bonus, no deposit or banking details required upon signup

iForex cons
– No demo account available

iForex review conclusion

Although iForex doesn’t offer a demo account, the Protected account is very similar and with a free $25 no deposit welcome bonus upon signup new traders can familiarize themselves with the trading platform and trade with real money straight away. That iForex is not so transparant with it’s spreads is also a minor con but the easy to use interface and wide range of technical analyses tools and MetaTrader 4 availability make up for this fact. Note that iForex is one of the oldest forex brokers online and it’s very reputable amongst forex traders. With a full product range including binary options, futures, ETF’s and stocks iForex offers way more assets than most other forex brokers. As iForex gives a $25 free welcome bonus upon registration it’s worth trying out this broker, even if you are not going to use it for your forex and stock trading.

✓ Free $25 no deposit bonus upon registration
✓ Live market information and analysis on-screen
✓ Trade CFD’s, stocks, commodities, forex, binary options, futures, ETF’s and indices on one platform
✓ Reliable and regulated binary option broker by CySEC
✓ No scam history

Register for free and claim $25 welcome bonus


  • Free $25 no deposit welcome bonus upon registration
  • Trade wide variety of assets including options, futures, ETF's, indices and more
  • Personal training and mentor
  • First $100 fully covered


  • no demo account available


There is no review.

User experience


How pleasent is it to trade with this broker



Does the trading platform work smooth and without errors?



Was the broker and trading software reliable?

Customer Service


Was the broker easy to reach? How was your experience with their customer service?



How did the payouts work out, did you pay any withdrawal fees?

Overall Rating



I hereby declare this review to based on my own experience trading with this broker and I did not reseve compensation in any way submitting this review

Visit Broker
This website is owned by GC Media Holdings Ltd. 306 Victoria House, Victoria, Mahe Island, Seychelles. Advertise / (media) buying enquiries