Written by ForexBrokers.com
In this head to head comparison of iFOREX vs Xtrade, 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.
When comparing online brokers iFOREX and Xtrade, several key points highlight their similarities and differences in terms of trust and regulatory standings. iFOREX, established in 1996, holds a single Tier-1 license, marking it as a company with a strong regulatory standing according to ForexBrokers.com. It is not publicly traded and doesn’t operate as a bank, resulting in a Trust Score of 75, which suggests an average risk level. Xtrade, on the other hand, was founded in 2003 and also carries one Tier-1 license, alongside an additional Tier-2 license. Despite this, Xtrade's Trust Score is slightly lower at 74, indicating a similar average risk assessment.
Neither iFOREX nor Xtrade is listed on a stock exchange, and both are non-bank entities. These factors are essential for potential investors looking for solid and regulated platforms. While both brokers provide a secure environment due to holding Tier-1 licenses, it is noteworthy that Xtrade slightly edges out with an extra Tier-2 license. Despite these regulatory credentials, both brokers fall within the average risk category, making them comparable options for online trading. However, prospective users should consider these trust scores and regulatory details to make an informed decision based on their individual risk tolerance and trading needs.
| Feature |
iFOREX
|
Xtrade
|
|---|---|---|
| Year Founded | 1996 | 2003 |
| Publicly Traded (Listed) | No | No |
| Bank | No | No |
| Tier-1 Licenses | 1 | 1 |
| Tier-2 Licenses | 0 | 1 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 1 | 1 |
When comparing iFOREX and Xtrade in terms of commissions and fees, users will find distinct differences between the two online brokers. iFOREX, ranked #61 out of 63 brokers by ForexBrokers.com, is given a rating of 3 stars for its commissions and fees. While specific average spread data isn't available, iFOREX offers a generally acceptable structure for traders seeking to manage their costs effectively.
On the other hand, Xtrade receives a slightly lower 2.5-star rating for commissions and fees and is positioned at #63 in the ForexBrokers.com ranking. Although like iFOREX, Xtrade doesn't provide specific average spread data, the relative ranking suggests that Xtrade may have higher costs or less favorable fee arrangements compared to iFOREX in the eyes of ForexBrokers.com’s evaluation criteria.
In conclusion, while both iFOREX and Xtrade might have similar offerings in terms of available spread data, iFOREX appears to be a more favorable option for traders concerned about commissions and fees, according to the rankings and star ratings, making it potentially less costly than Xtrade in this particular category.
| Feature |
iFOREX
|
Xtrade
|
|---|---|---|
| Minimum Deposit | $100 | $250 |
| Average Spread EUR/USD - Standard | N/A | N/A |
| All-in Cost EUR/USD - Active | N/A | N/A |
| Active Trader or VIP Discounts | No | No |
| ACH or SEPA Transfers | No | No |
| PayPal (Deposit/Withdraw) | Yes | No |
| Skrill (Deposit/Withdraw) | Yes | Yes |
| Visa/Mastercard (Credit/Debit) | Yes | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
When comparing the investment offerings of iFOREX and Xtrade, both online brokers provide opportunities for forex trading as CFDs or spot contracts. iFOREX takes a lead with a broader selection, boasting 750 tradeable symbols, including 88 forex pairs, compared to Xtrade's 482 symbols and 56 forex pairs. However, neither platform offers exchange-traded securities on U.S. or international exchanges, meaning you cannot purchase stocks such as Apple or Vodafone directly through these brokers.
For those interested in cryptocurrency, both iFOREX and Xtrade offer cryptocurrency derivatives, though neither provides the option to buy actual cryptocurrencies. When it comes to innovative trading options like copy trading, both platforms fall short, as they do not offer this feature. With identical ratings of 3.5 stars for their range of investments, iFOREX and Xtrade have different rankings by ForexBrokers.com, standing at #41 and #49, respectively, out of 63 assessed brokers. This suggests a slight edge for iFOREX in terms of variety and flexibility in their offerings.
| Feature |
iFOREX
|
Xtrade
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 750 | 482 |
| Forex Pairs (Total) | 88 | 56 |
| U.S. Stock Trading (Non CFD) | No | No |
| Int'l Stock Trading (Non CFD) | No | No |
| Social Trading / Copy Trading | No | 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.
When comparing the trading platforms and tools of iFOREX and Xtrade, there are several key differences to consider. Both brokers offer proprietary, web-based trading platforms but lack downloadable options for Windows and popular platforms like MetaTrader 4 and 5. While neither broker supports copy trading, iFOREX provides a more focused trading experience with 25 drawing tools and the capability to trade directly from stock charts. However, Xtrade surpasses iFOREX with a wider range of 100 drawing tools and also allows trading directly from stock charts. Both brokers offer the same number of watchlist fields, so the choice comes down to your specific needs in charting and tools.
A significant distinction between the two is the availability of a simulated trading option; only Xtrade offers a free virtual demo account. This feature can be a valuable asset for beginners looking to practice trading without financial risk. In terms of overall ratings, iFOREX scores slightly higher with four stars compared to Xtrade's 3.5 stars for their trading platforms and tools. With rankings of #54 and #58 respectively out of 63 brokers by ForexBrokers.com, iFOREX holds a modest edge over Xtrade, potentially appealing to those prioritizing platform reliability and consistency.
| Feature |
iFOREX
|
Xtrade
|
|---|---|---|
| Virtual Trading (Demo) | No | Yes |
| Proprietary Platform | Yes | Yes |
| Desktop Platform (Windows) | No | No |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | No | No |
| MetaTrader 4 (MT4) | No | No |
| MetaTrader 5 (MT5) | No | No |
| DupliTrade | No | No |
| ZuluTrade | No | No |
| Charting - Indicators / Studies (Total) | 57 | N/A |
| Charting - Drawing Tools (Total) | 25 | 100 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 9 | 9 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
Both iFOREX and Xtrade offer mobile apps for iPhone and Android, making them accessible for traders on the go. Despite offering essential features, neither app provides stock or forex price alerts, watchlist syncing, or the ability to draw trendlines on charts. The apps also lack functionalities like viewing multiple time frames on charts, auto-saving chart drawings, and creating real-time quote watchlists. As such, traders searching for a seamless, feature-rich experience might find these options limited in comparison to other platforms.
When it comes to ratings, iFOREX and Xtrade each receive a respectable 4 out of 5 stars for their mobile trading apps. However, their standing among 63 brokers, as ranked by ForexBrokers.com, positions them at #55 for iFOREX and slightly higher at #53 for Xtrade. This ranking can guide those weighing platform strengths and weaknesses, although the lack of several modern conveniences might sway decision-makers seeking advanced mobile trading capabilities.
| Feature |
iFOREX
|
Xtrade
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | No | No |
| Watchlist Syncing | No | No |
| Mobile Charting - Indicators / Studies | N/A | N/A |
| Mobile Charting - Draw Trendlines | No | No |
| Mobile Charting - Multiple Time Frames | No | No |
| Mobile Charting - Drawings Autosave | No | No |
| Mobile Watchlist | No | No |
Dive deeper: Best Forex Trading Apps.
When it comes to market research offerings, both iFOREX and Xtrade provide daily market commentary, keeping traders informed with timely insights. However, Xtrade edges ahead with its provision of forex news from renowned sources like Bloomberg and Reuters. iFOREX, on the other hand, garners an advantage by offering tools from Trading Central, providing users with valuable technical analytics, and by featuring a sentiment-based trading tool, which shows the ratio of long or short positions across currency pairs or other instruments.
Furthermore, both brokers offer an economic calendar to help traders stay updated on global economic events. Despite these offerings, neither broker provides research tools from Autochartist, Acuity Trading, or market research from TipRanks. In terms of overall research ratings, both iFOREX and Xtrade receive 3.5 out of five stars. However, in the ForexBrokers.com research rankings, iFOREX is placed slightly higher at #48, while Xtrade follows at #52. This comparison helps traders choose the broker that aligns best with their market research needs.
| Feature |
iFOREX
|
Xtrade
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | No | Yes |
| Autochartist | No | No |
| Trading Central (Recognia) | Yes | No |
| Social Sentiment - Currency Pairs | Yes | No |
| 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, iFOREX and Xtrade offer distinct features. iFOREX provides a variety of educational videos specifically designed for beginners, ensuring that newcomers can dive into the basics of trading without too much hassle. However, it falls short in delivering a broader range of educational materials such as articles, videos, and webinars concentrating on forex or CFDs. On the other hand, Xtrade stands out by offering more than ten educational pieces on these subjects, making it a better resource for those looking to expand their understanding in this area. Yet, Xtrade does not provide beginner-focused educational videos, which might be a drawback for those who prefer a visual learning method at the beginner level.
Despite not hosting monthly webinars or offering archives of past sessions, Xtrade compensates to some extent with an impressive investor dictionary containing definitions of over 50 investing terms. This feature is absent in iFOREX, which means that iFOREX users might find themselves at a slight disadvantage when it comes to understanding complex terminologies. While both brokers have received a 3.5-star rating for their educational offerings, their rankings by ForexBrokers.com differ, with Xtrade taking the #46 spot, slightly ahead of iFOREX, which is ranked at #53. This indicates that while each platform has its strengths, Xtrade might have a slight edge in offering a more comprehensive educational experience for novice traders.
| Feature |
iFOREX
|
Xtrade
|
|---|---|---|
| Education (Forex or CFDs) | No | Yes |
| Client Webinars | No | No |
| Client Webinars (Archived) | No | No |
| Videos - Beginner Trading Videos | Yes | No |
| Videos - Advanced Trading Videos | No | No |
| Investor Dictionary (Glossary) | No | Yes |
Dive deeper: Best Forex Brokers for Beginners.
After testing 63 of the best forex brokers, our research and account testing finds that iFOREX is better than Xtrade. iFOREX finished with an overall rank of #52, while Xtrade finished with an overall rank of #59.
iFOREX is operated by a long-standing company, previously known as Vestle, with regulatory status in a growing number of jurisdictions, offering forex and CFDs through its proprietary platform. The biggest drawback is the lack of markets you can trade with fewer than 200, compared to the best multi asset forex and CFD brokers.
| Feature |
iFOREX
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Xtrade
|
|---|---|---|
| Overall Rating |
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| Trust Score | 75 | 74 |
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Both iFOREX and Xtrade do not offer the ability to purchase actual (delivered) cryptocurrency, but they do provide options to buy cryptocurrency derivatives.
Comparing deposit and withdrawal options, iFOREX supports PayPal, Skrill, Visa/Mastercard, and bank wires but not ACH or SEPA transfers, while Xtrade offers Skrill, Visa/Mastercard, and bank wires, yet lacks support for PayPal, ACH, or SEPA transfers.
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 | iFOREX | Xtrade | |
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| Trust Score | 75 | 74 | |
| Winner | check_circle | ||
| Review | Xtrade Review |
| Broker Screenshots | iFOREX | Xtrade | |
|---|---|---|---|
| Trading Platforms Gallery (click to expand) | |||
| Mobile Trading Gallery (click to expand) | |||
| Research Gallery (click to expand) | |||
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| Regulation | iFOREX | Xtrade | |
|---|---|---|---|
| Trust Score | 75 | 74 | |
| Year Founded | 1996 | 2003 | |
| Publicly Traded (Listed) | No | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 1 | 1 | |
| Tier-2 Licenses | 0 | 1 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 1 | 1 |
| Tier-1 Licenses (Highly Trusted) | iFOREX | Xtrade | |
|---|---|---|---|
| Australia (ASIC Authorised) | No | 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 | No | |
| 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) | iFOREX | Xtrade | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | No | |
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | No | Yes | |
| UAE (DFSA/Central Bank Authorised) | No | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No | No |
| Investments | iFOREX | Xtrade | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 750 | 482 | |
| Forex Pairs (Total) | 88 | 56 | |
| U.S. Stock Trading (Non CFD) | No | No | |
| Int'l Stock Trading (Non CFD) | No | No | |
| Social Trading / Copy Trading | No | 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 | iFOREX | Xtrade | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | N/A | N/A | |
| All-in Cost EUR/USD - Active | N/A | N/A | |
| Active Trader or VIP Discounts | No | No | |
| Inactivity Fee | No | No | |
| Execution: Agency Broker | No | No | |
| Execution: Market Maker | Yes | Yes |
| Funding | iFOREX | Xtrade | |
|---|---|---|---|
| Minimum Deposit | $100 | $250 | |
| PayPal (Deposit/Withdraw) | Yes | No | |
| 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 | iFOREX | Xtrade | |
|---|---|---|---|
| Proprietary Platform | Yes | Yes | |
| Desktop Platform (Windows) | No | No | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | No | No | |
| MetaTrader 4 (MT4) | No | No | |
| MetaTrader 5 (MT5) | No | No | |
| cTrader | No | No | |
| DupliTrade | No | No | |
| ZuluTrade | No | No |
| Trading Tools | iFOREX | Xtrade | |
|---|---|---|---|
| Virtual Trading (Demo) | No | Yes | |
| Alerts - Basic Fields | No | No | |
| Watchlists - Total Fields | 9 | 9 | |
| Charting - Indicators / Studies (Total) | 57 | N/A | |
| Charting - Drawing Tools (Total) | 25 | 100 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | No | No |
| Mobile Trading | iFOREX | Xtrade | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Alerts - Basic Fields | No | No | |
| Mobile Watchlist | No | No | |
| Watchlist Syncing | No | No | |
| Mobile Charting - Indicators / Studies | N/A | N/A | |
| Mobile Charting - Draw Trendlines | No | No | |
| Mobile Charting - Multiple Time Frames | No | No | |
| Mobile Charting - Drawings Autosave | No | No | |
| Mobile Economic Calendar | No | No |
| Research | iFOREX | Xtrade | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | No | Yes | |
| Autochartist | No | No | |
| Trading Central (Recognia) | Yes | No | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | Yes | No | |
| Economic Calendar | Yes | Yes |
| Education | iFOREX | Xtrade | |
|---|---|---|---|
| Education (Forex or CFDs) | No | Yes | |
| Client Webinars | No | No | |
| Client Webinars (Archived) | No | No | |
| Videos - Beginner Trading Videos | Yes | No | |
| Videos - Advanced Trading Videos | No | No | |
| Investor Dictionary (Glossary) | No | Yes |
| Major Forex Pairs | iFOREX | Xtrade | |
|---|---|---|---|
| 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 | Xtrade Review |
| Overall | iFOREX | Xtrade | |
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| Trust Score | 75 | 74 | |
| Winner | check_circle | ||
| Review | Xtrade Review |
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