Written by ForexBrokers.com
In this head to head comparison of IronFX 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.
IronFX, founded in 2010, and iFOREX, established in 1996, are both online brokers that strive to provide secure trading experiences without being listed on a stock exchange or functioning as banks. Evaluating their credibility, IronFX possesses three Tier-1 licenses which suggest a high level of regulatory reliability. This compares favorably to iFOREX, which holds one Tier-1 license, implying a somewhat lower level of trust. Neither broker currently holds Tier-2 licenses, often categorized as trusted by regulatory standards.
In terms of overall trustworthiness as rated by ForexBrokers.com, IronFX receives a Trust Score of 83, classifying it as trusted. On the other hand, iFOREX earns a score of 75, placing it at an average risk level according to the same evaluation. These scores reflect considerations of licensing and other factors, affecting the perceived security and reliability of the brokers for potential investors.
| Feature |
IronFX
|
iFOREX
|
|---|---|---|
| Year Founded | 2010 | 1996 |
| Publicly Traded (Listed) | No | No |
| Bank | No | No |
| Tier-1 Licenses | 3 | 1 |
| Tier-2 Licenses | 0 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 1 | 1 |
When comparing the commissions and fees of online brokers IronFX and iFOREX, there are notable differences in their pricing structures and ratings. IronFX offers a Standard variable spread account with a typical spread of 1.8 pips, although no specific date range is provided and spreads can vary by account type. The zero fixed-spread account at IronFX starts at zero but includes an $18 per lot commission, with spreads widening to 3 pips overnight. Despite these specifics, IronFX exhibits room for improvement as its spreads tend to be higher than the industry average. This broker receives a 4-star rating for commissions and fees and ranks 46th out of 63 brokers evaluated by ForexBrokers.com.
In contrast, iFOREX does not provide average spread data, which may leave traders less informed about potential costs before engaging with this platform. This lack of detail contributes to the broker's relatively lower rating and ranking. iFOREX receives a 3-star rating for commissions and fees in the same category and is positioned 61st out of 63 brokers according to ForexBrokers.com.
| Feature |
IronFX
|
iFOREX
|
|---|---|---|
| Minimum Deposit | $50 | $100 |
| Average Spread EUR/USD - Standard | 1.2 | N/A |
| All-in Cost EUR/USD - Active | N/A | N/A |
| Active Trader or VIP Discounts | Yes | No |
| ACH or SEPA Transfers | No | No |
| PayPal (Deposit/Withdraw) | No | Yes |
| Skrill (Deposit/Withdraw) | Yes | Yes |
| Visa/Mastercard (Credit/Debit) | Yes | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
IronFX and iFOREX both cater to traders interested in forex trading and other CFD products, providing flexible options for investors. With IronFX, you'll have access to 340 tradeable symbols, including 83 forex pairs. Similarly, iFOREX offers a broader selection with 750 tradeable symbols, featuring 88 forex pairs. Neither broker provides direct access to U.S. or international exchange-traded securities, meaning you won't be able to purchase stocks like Apple or Vodafone directly through their platforms. However, both platforms offer the ability to trade cryptocurrency derivatives, though not the actual cryptocurrencies themselves.
An essential distinction between IronFX and iFOREX is the availability of copy trading—IronFX offers this feature, while iFOREX does not. For traders seeking diverse investment opportunities, both brokers receive a 3.5-star rating for their range of investments. However, iFOREX holds a slightly higher rank at #41 compared to IronFX’s #51 in ForexBrokers.com's evaluation out of 63 brokers. Whether you prioritize a larger selection of tradeable symbols or the option for copy trading, both platforms provide competitive investment opportunities in the online trading market.
| Feature |
IronFX
|
iFOREX
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 340 | 750 |
| Forex Pairs (Total) | 83 | 88 |
| U.S. Stock Trading (Non CFD) | No | No |
| Int'l Stock Trading (Non CFD) | No | No |
| Social Trading / Copy Trading | Yes | No |
| Cryptocurrency (Physical) | No | No |
| Cryptocurrency (Derivative) | 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.
IronFX and iFOREX cater to different trading preferences with their unique platform offerings. IronFX supports traders with a Windows-based desktop platform and web-based options, while also providing the MetaTrader 4 platform, widely favored for its comprehensive range of features. It further enhances the trading experience by offering copy trading and a simulated paper trading account, allowing beginners to practice without risk. Meanwhile, iFOREX stands out with its proprietary web-based platform, developed in-house to meet specific user needs, but it does not offer a desktop trading platform or support MetaTrader 4. iFOREX lacks a free virtual demo account, which may be a consideration for newer traders.
In terms of technical tools, iFOREX holds an edge with a greater number of drawing tools for charting and more fields for customizing watch lists. Both brokers allow trading directly from stock charts, yet iFOREX has garnered a slightly higher rating of 4 stars compared to IronFX's 3.5 stars, according to user reviews and rankings. Also, with a ForexBrokers.com ranking of #54 out of 63 brokers in the Trading Platforms and Tools category, iFOREX appears to have a slight advantage over IronFX, which is ranked at #61. Each platform has its strengths, and the choice may depend on individual trader needs such as preferences for custom platforms or access to industry-standard tools like MetaTrader 4.
| Feature |
IronFX
|
iFOREX
|
|---|---|---|
| Virtual Trading (Demo) | Yes | No |
| Proprietary Platform | No | Yes |
| Desktop Platform (Windows) | Yes | No |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | Yes | No |
| MetaTrader 4 (MT4) | Yes | No |
| MetaTrader 5 (MT5) | No | No |
| DupliTrade | No | No |
| ZuluTrade | No | No |
| Charting - Indicators / Studies (Total) | 30 | 57 |
| Charting - Drawing Tools (Total) | 15 | 25 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 7 | 9 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
Both IronFX and iFOREX offer mobile trading apps for iPhone and Android users, making trading accessible on the go. When it comes to advanced features, IronFX leads with functions such as stock or forex price alerts, the ability to draw trendlines, and the option to view multiple time frames. IronFX also offers 30 technical studies for its charting features, while this detail is not specified for iFOREX. However, iFOREX doesn't support stock or forex price alerts, nor does it offer the drawing of trendlines or multiple time frames, which might limit the analysis capabilities for some traders. Further, both brokers lack watchlist symbol syncing on their mobile apps, so any changes made won’t reflect across both mobile and online platforms.
Inevitably, app ratings and rankings provide some insights into user experiences. IronFX's app garners a 3.5-star rating and is ranked #62 out of 63 brokers by ForexBrokers.com for mobile trading apps. In contrast, iFOREX boasts a 4-star rating and is ranked higher at #55 in the same category, underscoring user satisfaction. Despite certain limitations in features, iFOREX’s app seems to provide a smoother overall user experience compared to IronFX, making it a potentially more appealing choice for traders prioritizing ease of use.
| Feature |
IronFX
|
iFOREX
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | No |
| Watchlist Syncing | No | No |
| Mobile Charting - Indicators / Studies | 30 | N/A |
| Mobile Charting - Draw Trendlines | Yes | No |
| Mobile Charting - Multiple Time Frames | Yes | No |
| Mobile Charting - Drawings Autosave | Yes | No |
| Mobile Watchlist | Yes | No |
Dive deeper: Best Forex Trading Apps.
IronFX and iFOREX both deliver daily market commentary, providing traders with regular insights into market movements. While both offer technical analysis tools from Trading Central, IronFX stands out by supplying forex news from reputable sources such as Bloomberg, Reuters, and Dow Jones, which isn't available through iFOREX. Despite both brokers lacking tools from Autochartist and Acuity Trading, iFOREX distinguishes itself by featuring a sentiment-based trading tool to help traders gauge market positioning, a feature IronFX does not provide.
When it comes to economic calendars, both IronFX and iFOREX ensure traders stay informed about key global news events. However, in terms of overall research offerings, IronFX holds a slight edge with a 4-star rating compared to iFOREX's 3.5 stars. In the research category ranking by ForexBrokers.com, IronFX is positioned at #28 out of 63 brokers, while iFOREX is ranked at #48. This suggests IronFX might be a more favorable option for traders seeking comprehensive market research integrated with reliable news sources.
| Feature |
IronFX
|
iFOREX
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | No |
| Autochartist | No | No |
| Trading Central (Recognia) | Yes | Yes |
| Social Sentiment - Currency Pairs | No | Yes |
| TipRanks | No | No |
| Signal Centre (Acuity Trading) | No | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
When it comes to educational resources for beginners, IronFX stands out by offering a comprehensive collection of materials. They provide more than ten educational pieces focused on forex or CFDs, ensuring that newcomers have access to a wealth of written and video content. Additionally, IronFX features a searchable archive of previously recorded webinars and a handy investor dictionary containing over 50 investing terms to help solidify foundational knowledge. Beginner traders can benefit from over ten educational videos specifically designed to introduce them to trading concepts. Despite their overall strong offerings, IronFX does not offer advanced educational videos or monthly live webinars for ongoing learning.
On the other hand, iFOREX presents a more limited educational experience for beginners. While they do offer at least ten educational videos tailored for new traders, they fall short in other areas compared to IronFX. iFOREX doesn't provide a selection of articles or archived webinars centered on forex or CFDs education, nor do they offer a comprehensive investor dictionary or live monthly webinars. Consequently, iFOREX's educational content is somewhat lacking, resulting in a lower education rating compared to IronFX. When ranked among 63 brokers for educational offerings, IronFX takes the 44th spot, while iFOREX is positioned at 53rd, reflecting their respective strengths and weaknesses in this field.
| Feature |
IronFX
|
iFOREX
|
|---|---|---|
| Education (Forex or CFDs) | Yes | No |
| Client Webinars | No | No |
| Client Webinars (Archived) | Yes | No |
| Videos - Beginner Trading Videos | Yes | Yes |
| Videos - Advanced Trading Videos | No | No |
| Investor Dictionary (Glossary) | Yes | No |
Dive deeper: Best Forex Brokers for Beginners.
After testing 63 of the best forex brokers, our research and account testing finds that IronFX is better than iFOREX. IronFX finished with an overall rank of #48, while iFOREX finished with an overall rank of #52.
IronFX has come a long way to rebuild its brand, acquiring multiple regulatory licenses to improve its Trust Score, and creating balanced educational material. That said, pricing is an area where IronFX has room to further improve as spreads appeared higher than the industry average.
| Feature |
IronFX
|
iFOREX
|
|---|---|---|
| Overall Rating |
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| Trust Score | 83 | 75 |
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Both IronFX and iFOREX do not offer the ability to buy actual (delivered) cryptocurrencies but provide options for trading cryptocurrency derivatives.
When comparing the online brokers IronFX and iFOREX, neither offers ACH or SEPA transfers for account fund transactions, both provide options to deposit or withdraw funds via Skrill, Visa, Mastercard, and bank wires, but iFOREX uniquely supports PayPal for these transactions, unlike IronFX.
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 | IronFX | iFOREX | |
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| Trust Score | 83 | 75 | |
| Winner | check_circle | ||
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| Broker Screenshots | IronFX | iFOREX | |
|---|---|---|---|
| Trading Platforms Gallery (click to expand) | |||
| Mobile Trading Gallery (click to expand) | |||
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| Regulation | IronFX | iFOREX | |
|---|---|---|---|
| Trust Score | 83 | 75 | |
| Year Founded | 2010 | 1996 | |
| Publicly Traded (Listed) | No | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 3 | 1 | |
| Tier-2 Licenses | 0 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 1 | 1 |
| Tier-1 Licenses (Highly Trusted) | IronFX | iFOREX | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | No | |
| Canada (CIRO Authorised) | No | No | |
| Hong Kong (SFC Authorised) | No | No | |
| Japan (SFC Authorised) | No | No | |
| Singapore (MAS Authorised) | No | No | |
| Switzerland (FINMA Authorised) | No | No | |
| 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) | IronFX | iFOREX | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | No | |
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | No | No | |
| UAE (DFSA/Central Bank Authorised) | No | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No | No |
| Investments | IronFX | iFOREX | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 340 | 750 | |
| Forex Pairs (Total) | 83 | 88 | |
| U.S. Stock Trading (Non CFD) | No | No | |
| Int'l Stock Trading (Non CFD) | No | No | |
| Social Trading / Copy Trading | Yes | No | |
| Cryptocurrency (Physical) | No | No | |
| Cryptocurrency (Derivative) | 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 | IronFX | iFOREX | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 1.2 | N/A | |
| All-in Cost EUR/USD - Active | N/A | N/A | |
| Active Trader or VIP Discounts | Yes | No | |
| Inactivity Fee | No | No | |
| Execution: Agency Broker | Yes | No | |
| Execution: Market Maker | Yes | Yes |
| Funding | IronFX | iFOREX | |
|---|---|---|---|
| Minimum Deposit | $50 | $100 | |
| PayPal (Deposit/Withdraw) | No | Yes | |
| Skrill (Deposit/Withdraw) | Yes | Yes | |
| Visa/Mastercard (Credit/Debit) | Yes | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers | No | No |
| Trading Platforms | IronFX | iFOREX | |
|---|---|---|---|
| Proprietary Platform | No | Yes | |
| Desktop Platform (Windows) | Yes | No | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | Yes | No | |
| MetaTrader 4 (MT4) | Yes | No | |
| MetaTrader 5 (MT5) | No | No | |
| cTrader | No | No | |
| DupliTrade | No | No | |
| ZuluTrade | No | No |
| Trading Tools | IronFX | iFOREX | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | No | |
| Alerts - Basic Fields | Yes | No | |
| Watchlists - Total Fields | 7 | 9 | |
| Charting - Indicators / Studies (Total) | 30 | 57 | |
| Charting - Drawing Tools (Total) | 15 | 25 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | No |
| Mobile Trading | IronFX | iFOREX | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Alerts - Basic Fields | Yes | No | |
| Mobile Watchlist | Yes | No | |
| Watchlist Syncing | No | No | |
| Mobile Charting - Indicators / Studies | 30 | N/A | |
| Mobile Charting - Draw Trendlines | Yes | No | |
| Mobile Charting - Multiple Time Frames | Yes | No | |
| Mobile Charting - Drawings Autosave | Yes | No | |
| Mobile Economic Calendar | Yes | No |
| Research | IronFX | iFOREX | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | No | |
| Autochartist | No | No | |
| Trading Central (Recognia) | Yes | Yes | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | No | Yes | |
| Economic Calendar | Yes | Yes |
| Education | IronFX | iFOREX | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | No | |
| Client Webinars | No | No | |
| Client Webinars (Archived) | Yes | No | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | No | No | |
| Investor Dictionary (Glossary) | Yes | No |
| Major Forex Pairs | IronFX | iFOREX | |
|---|---|---|---|
| GBP/USD | Yes | Yes | |
| USD/JPY | Yes | Yes | |
| EUR/USD | Yes | Yes | |
| USD/CHF | Yes | Yes | |
| USD/CAD | Yes | Yes | |
| NZD/USD | Yes | Yes | |
| AUD/USD | Yes | Yes | |
| Review |
| Overall | IronFX | iFOREX | |
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| Trust Score | 83 | 75 | |
| Winner | check_circle | ||
| Review |
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