Written by ForexBrokers.com
In this head to head comparison of FXCM vs iFOREX, we will compare the trading platforms, mobile apps, range of investments, costs, market research, and more. Let's dive in.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 51% and 89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
FXCM and iFOREX are both well-established online brokers with FXCM founded in 1999 and iFOREX in 1996. When it comes to public trading status, FXCM is listed on a stock exchange, providing an additional layer of transparency, while iFOREX is not publicly traded. Neither operates as a bank. The Trust Score ratings by ForexBrokers.com highlight FXCM’s strong position with a high rating of 95 out of 99, reflecting a high level of trust and reliability, whereas iFOREX scores at 75, indicating an average level of trustworthiness.
In terms of regulatory licenses, FXCM holds four Tier-1 licenses and two Tier-2 licenses, reinforcing its level of trust. Tier-1 licenses are regarded as highly trusted, and Tier-2 licenses are considered trusted according to ForexBrokers.com standards. On the other hand, iFOREX holds only one Tier-1 license and no Tier-2 licenses, further distinguishing FXCM as the more trusted broker between the two. This regulatory strength makes FXCM appealing to those prioritizing high regulatory standards in their broker choice.
| Feature |
FXCM
|
iFOREX
|
|---|---|---|
| Year Founded | 1999 | 1996 |
| Publicly Traded (Listed) | Yes | No |
| Bank | No | No |
| Tier-1 Licenses | 4 | 1 |
| Tier-2 Licenses | 2 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 0 | 1 |
Comparing commissions and fees, FXCM provides more transparency and stronger third-party scores than iFOREX. FXCM is rated 4 out of 5 stars and ranks #25 of 63 for Commissions and Fees at ForexBrokers.com, while iFOREX is rated 3 out of 5 stars and ranks #62 of 63. iFOREX does not publish average spread data, which makes direct cost comparisons difficult.
FXCM’s forex pricing is slightly above the industry average on standard accounts. Using time-weighted averages for May 2024, EUR/USD spreads averaged 0.78 pips in the EU, U.K., and Australia, and 1.38 pips with the St. Vincent & the Grenadines entity. On commission-based accounts, the average core spread on EUR/USD was 0.28 pips in May 2024; after adding the commission equivalent of about 0.50 pips per round turn, the effective spread is closer to 0.74 pips. As with many brokers, spreads can widen during rollover or in unusual market conditions.
FXCM also offers volume-based discounts. Where available (not in the U.K. or EU), the Active Trader Rebate Program pays $5 to $25 per million traded starting from $10 million in monthly volume. Requirements vary by entity; for example, in the U.K., a $25,000 balance and at least $50 million in monthly volume can reduce the commission to $2.50 per side ($5 round turn), for an effective EUR/USD spread of about 0.78 pips based on a 0.28-pip core price. iFOREX provides no average spread figures, so assessing its costs depends on live quotes rather than long-run averages.
| Feature |
FXCM
|
iFOREX
|
|---|---|---|
| Minimum Deposit | Starts from $50 | $100 |
| Average spread (EUR/USD) - Standard account | 0.9 | N/A |
| All-in Cost EUR/USD - Active | 0.8 | N/A |
| Non-wire bank transfer | Yes | No |
| PayPal (Deposit/Withdraw) | Yes | |
| Skrill (Deposit/Withdraw) | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes |
Dive deeper: Best Low Spread Forex Brokers.
FXCM and iFOREX both let you trade forex as either CFDs or spot, but iFOREX offers a wider selection overall. iFOREX lists 750 tradeable symbols and 88 forex pairs, while FXCM provides 440 symbols and 46 forex pairs. Neither broker supports buying exchange-traded securities on U.S. or international stock exchanges, so you can’t purchase real shares like Apple or Vodafone through either platform.
For extras, both brokers offer cryptocurrency CFDs but do not support buying actual crypto. FXCM stands out with copy trading, which iFOREX does not offer. Each broker earns 3.5 out of 5 stars for Range of Investments; however, iFOREX ranks higher in the category (#42 of 63) compared with FXCM (#48 of 63). If you want more markets and currency pairs, iFOREX has the edge. If you want copy trading, FXCM is the better fit.
| Feature |
FXCM
|
iFOREX
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 440 | 750 |
| Forex Pairs (Total) | 46 | 88 |
| U.S. Stocks (Shares) | No | No |
| Global Stocks (Non-U.S. Shares) | No | No |
| Copy Trading | Yes | No |
| Cryptocurrency (Underlying) | No | No |
| Cryptocurrency (CFDs) | Yes | Yes |
| Disclaimers | Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). | Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). |
Dive deeper: Best Copy Trading Platforms.
FXCM vs iFOREX: For trading platforms and tools, FXCM offers a free demo account for paper trading, a Windows desktop platform, a web-based platform, and its own proprietary platform. It also supports MetaTrader 4 (MT4), copy trading, and lets you place orders directly from charts. iFOREX provides an in-house proprietary, browser-based platform and supports trading from charts, but it does not offer a Windows desktop download, a free demo account, copy trading, or MT4. Neither broker supports MetaTrader 5 (MT5).
Independent research highlights the gap: ForexBrokers.com rates FXCM 5 out of 5 stars for Trading Platforms and Tools and ranks it 6th of 63 brokers, while iFOREX earns 4 out of 5 stars and ranks 55th. If you want MT4, copy trading, a desktop app, and a demo to practice, FXCM is the better fit; if you only need a web platform with an in-house design, iFOREX can work.
| Feature |
FXCM
|
iFOREX
|
|---|---|---|
| Virtual Trading (Demo) | Yes | No |
| Proprietary Desktop Trading Platform | Yes | Yes |
| Desktop Platform (Windows) | Yes | No |
| Web Platform | Yes | Yes |
| Copy Trading | Yes | No |
| MetaTrader 4 (MT4) | Yes | No |
| MetaTrader 5 (MT5) | No | No |
| Charting - Indicators / Studies (Total) | 115 | 57 |
| Charting - Trade From Chart | Yes | Yes |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
FXCM and iFOREX both offer mobile trading apps for iPhone and Android. The differences show up in daily use: the FXCM app supports price alerts and syncs your watchlists across mobile and web, while iFOREX does not offer alerts or syncing. If you depend on notifications and want your saved symbols to match on every device, FXCM has the edge.
For charting, FXCM provides 59 technical indicators, lets you draw trendlines, and automatically saves your drawings. iFOREX doesn’t list a count of indicators and does not support trendline drawing or auto‑saving. Reflecting these gaps, FXCM earns 4.5/5 stars and ranks #16 of 63 for Mobile Trading Apps on ForexBrokers.com, while iFOREX scores 4/5 stars and ranks #56. Traders seeking stronger charting tools and alerts will likely prefer the FXCM mobile app, whereas iFOREX suits simpler, on-the-go checks.
| Feature |
FXCM
|
iFOREX
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Price Alerts | Yes | No |
| Mobile Watchlists - Syncing | Yes | No |
| Mobile Charting - Indicators / Studies | 59 | N/A |
| Mobile Charting - Draw Trendlines | Yes | No |
| Mobile Charting - Trendlines Autosave | Yes | No |
Dive deeper: Best Forex Trading Apps.
Comparing FXCM and iFOREX for market research: both brokers publish daily market commentary and provide an economic calendar. Each offers Trading Central tools and a sentiment feature that shows long/short positioning. Neither includes Autochartist. A key difference is news: FXCM offers forex news from top-tier sources such as Bloomberg, Reuters, or Dow Jones, while iFOREX does not.
For added research, FXCM includes TipRanks. Availability of TipRanks or Acuity Trading tools at iFOREX is not specified, and FXCM does not list Acuity Trading. These factors help FXCM earn 4.5/5 stars and rank #11 out of 63 brokers for Research at ForexBrokers.com, compared with iFOREX at 3.5/5 stars and #49. If you want leading news and extra outside insights, FXCM is the stronger pick. If you mainly need commentary, an economic calendar, Trading Central, and sentiment data, iFOREX covers the basics.
| Feature |
FXCM
|
iFOREX
|
|---|---|---|
| Daily Market Commentary (Articles) | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | No |
| Autochartist | No | No |
| Trading Central | Yes | Yes |
| Client sentiment data | Yes | Yes |
| TipRanks | Yes | |
| Acuity Trading | No | |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
For beginner-friendly education, FXCM offers more ways to learn. It provides 10+ beginner videos, plus live client webinars at least once a month to help you practice and ask questions in real time. FXCM also includes 10+ advanced videos, so you can keep learning as your skills grow. Overall, FXCM’s education is rated 4.5 out of 5 stars and ranks 14th out of 63 brokers for Education at ForexBrokers.com.
iFOREX supplies 10+ beginner videos, which can help you get started, but it does not host monthly live webinars and lacks 10+ advanced videos for next-level learning. Its education earns 3.5 out of 5 stars and ranks 53rd out of 63. If you want simple video lessons, iFOREX can be enough; if you prefer ongoing live sessions and a deeper library that supports progress from beginner to advanced, FXCM is the stronger choice.
| Feature |
FXCM
|
iFOREX
|
|---|---|---|
| Webinars | Yes | No |
| Videos - Beginner Trading Videos | Yes | Yes |
| Videos - Advanced Trading Videos | Yes | No |
Dive deeper: Best Forex Brokers for Beginners.
After testing 63 of the best forex brokers, our research and account testing finds that FXCM is better than iFOREX. FXCM finished with an overall rank of #15, while iFOREX finished with an overall rank of #52.
For traders who appreciate advanced trading tools and quality market research, FXCM is a winner, especially for algorithmic trading. Its range of tradeable markets is fairly narrow, however, and the pricing at FXCM is just average.
| Feature |
FXCM
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iFOREX
|
|---|---|---|
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| Trust Score | 95 | 75 |
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FXCM vs iFOREX: neither broker lets you buy actual (delivered) cryptocurrencies, but both offer cryptocurrency trading via CFDs.
FXCM vs iFOREX payment methods: FXCM supports ACH/SEPA, PayPal, Skrill, and bank wire deposits and withdrawals (Visa/Mastercard not specified), while iFOREX does not offer ACH/SEPA and does not specify availability for PayPal, Skrill, Visa/Mastercard, or bank wires.
Please note:
We review each broker’s overall global offering – a “Yes” checkmark in our Compare Tool does not guarantee the availability of any specific features in your country of residence. To verify the availability of any features within your country of residence, please contact the broker directly.
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0 of 5| Overall Rating | FXCM | iFOREX | |
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| Trust Score | 95 | 75 | |
| Winner | check_circle | ||
| Review | FXCM Review |
| Broker Screenshots | FXCM | iFOREX | |
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| Regulation | FXCM | iFOREX | |
|---|---|---|---|
| Trust Score | 95 | 75 | |
| Year Founded | 1999 | 1996 | |
| Publicly Traded (Listed) | Yes | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 4 | 1 | |
| Tier-2 Licenses | 2 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 0 | 1 |
| Tier-1 Licenses (Highly Trusted) | FXCM | iFOREX | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | No | |
| Canada (CIRO Authorised) | Yes | No | |
| Hong Kong (SFC Authorised) | No | No | |
| Japan (SFC Authorised) | No | No | |
| Singapore (MAS Authorised) | No | No | |
| Switzerland (FINMA Authorised) | |||
| United Kingdom (U.K.) (FCA Authorised) | Yes | Yes | |
| USA (CFTC Authorized) | No | No | |
| New Zealand (FMA Authorised) | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes |
| Tier-2 Licenses (Trusted) | FXCM | iFOREX | |
|---|---|---|---|
| Kenya (CMA Authorised) | |||
| Israel (ISA Authorised) | Yes | No | |
| South Africa (FSCA Authorised) | Yes | No | |
| UAE (DFSA, FSRA, or SCA Authorised) | No | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) |
| Investments | FXCM | iFOREX | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 440 | 750 | |
| Forex Pairs (Total) | 46 | 88 | |
| U.S. Stocks (Shares) | No | No | |
| Global Stocks (Non-U.S. Shares) | No | No | |
| Copy Trading | Yes | No | |
| Cryptocurrency (Underlying) | No | No | |
| Cryptocurrency (CFDs) | Yes | Yes | |
| Disclaimers | Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). | Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). |
| Cost | FXCM | iFOREX | |
|---|---|---|---|
| Average spread (EUR/USD) - Standard account | 0.9 | N/A | |
| All-in Cost EUR/USD - Active | 0.8 | N/A | |
| Inactivity Fee | Yes | No | |
| Order execution: Agency | Yes | No | |
| Order execution: Market Maker | Yes | Yes |
| Funding | FXCM | iFOREX | |
|---|---|---|---|
| Minimum Deposit | Starts from $50 | $100 | |
| PayPal (Deposit/Withdraw) | Yes | ||
| Skrill (Deposit/Withdraw) | Yes | ||
| Bank Wire (Deposit/Withdraw) | Yes | ||
| Non-wire bank transfer | Yes | No |
| Trading Platforms | FXCM | iFOREX | |
|---|---|---|---|
| Proprietary Desktop Trading Platform | Yes | Yes | |
| Desktop Platform (Windows) | Yes | No | |
| Web Platform | Yes | Yes | |
| Copy Trading | Yes | No | |
| MetaTrader 4 (MT4) | Yes | No | |
| MetaTrader 5 (MT5) | No | No | |
| cTrader | No | No |
| Trading Tools | FXCM | iFOREX | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | No | |
| Price Alerts | Yes | No | |
| Charting - Indicators / Studies (Total) | 115 | 57 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | No |
| Mobile Trading | FXCM | iFOREX | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Price Alerts | Yes | No | |
| Mobile Watchlist [DELETED] | |||
| Mobile Watchlists - Syncing | Yes | No | |
| Mobile Charting - Indicators / Studies | 59 | N/A | |
| Mobile Charting - Draw Trendlines | Yes | No | |
| Mobile Charting - Trendlines Autosave | Yes | No | |
| Mobile Research - Economic Calendar | Yes | No |
| Research | FXCM | iFOREX | |
|---|---|---|---|
| Daily Market Commentary (Articles) | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | No | |
| Autochartist | No | No | |
| Trading Central | Yes | Yes | |
| TipRanks | Yes | ||
| Client sentiment data | Yes | Yes | |
| Economic Calendar | Yes | Yes |
| Education | FXCM | iFOREX | |
|---|---|---|---|
| Webinars | Yes | No | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | Yes | No |
| Major Forex Pairs | FXCM | iFOREX | |
|---|---|---|---|
| GBP/USD [DELETED] | |||
| USD/JPY [DELETED] | |||
| EUR/USD | Yes | Yes | |
| USD/CHF [DELETED] | |||
| USD/CAD [DELETED] | |||
| NZD/USD [DELETED] | |||
| AUD/USD [DELETED] | |||
| Review | FXCM Review |
| Overall | FXCM | iFOREX | |
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| Trust Score | 95 | 75 | |
| Winner | check_circle | ||
| Review | FXCM Review |
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