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 |
When it comes to commissions and fees, FXCM stands out with a 4-star rating from ForexBrokers.com, positioning it at #24 out of 62 brokers for this category. FXCM's forex trading prices are slightly above the industry average, with its standard account spreads showing variance across regions. For instance, in May 2024, the time-weighted average spread for EUR/USD was 0.78 pips in the EU, U.K., and Australia, but 1.38 pips in St. Vincent and the Grenadines. If you opt for their commission-based accounts, the average spread drops to 0.28 pips, though adding the commission raises it to about 0.74 pips. FXCM also offers an Active Trader Rebate Program, providing rebates of up to $25 per million traded based on your monthly volume and tier. However, this program excludes the U.K. and EU markets.
iFOREX, on the other hand, carries a 3-star rating for its commissions and fees, putting it at #60 out of 62 brokers according to ForexBrokers.com. Unfortunately, specific average spread data for iFOREX isn't available, which can make it challenging for potential traders to assess the broker's competitiveness in terms of pricing. The lack of detailed information may deter traders who prioritize transparent and lower trading costs.
Overall, FXCM offers more detailed and potentially favorable pricing options for active traders willing to engage in high-volume trading. In contrast, iFOREX might not appeal to those seeking transparency and competitive fees. These distinctions could influence your decision if those factors are critical to your trading strategy.
| Feature |
FXCM
|
iFOREX
|
|---|---|---|
| Minimum Deposit | Starts from $50 | $100 |
| Average Spread EUR/USD - Standard | 0.78 | N/A |
| All-in Cost EUR/USD - Active | 0.78 | N/A |
| Active Trader or VIP Discounts | Yes | No |
| ACH or SEPA Transfers | Yes | No |
| PayPal (Deposit/Withdraw) | Yes | 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.
When comparing the range of investment options between online brokers FXCM and iFOREX, both platforms allow traders to engage in forex trading through CFDs or spot contracts. However, iFOREX outshines FXCM with a wider selection of tradeable symbols, offering 750 compared to FXCM’s 440. In terms of forex pairs, iFOREX provides access to 88 pairs, while FXCM offers 43. Neither broker offers direct access to exchange-traded securities in the U.S. or international markets, which means investors cannot purchase actual shares like Apple or Vodafone through these platforms. Both brokers do provide opportunities for trading cryptocurrency derivatives but not the actual digital currencies themselves.
FXCM and iFOREX have been rated equally, with 3.5 out of 5 stars, for their range of investments. However, iFOREX is slightly better positioned in rankings at #41 compared to FXCM's #47 out of 62 brokers according to ForexBrokers.com. An additional feature that differentiates FXCM is its offering of copy trading, a feature absent from iFOREX. These factors might influence a trader’s choice, depending on their specific investment goals and preferences.
| Feature |
FXCM
|
iFOREX
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 440 | 750 |
| Forex Pairs (Total) | 43 | 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.
When it comes to trading platforms and tools, FXCM and iFOREX each have their strengths, but they cater to different needs. FXCM stands out with its comprehensive offerings, including a free virtual demo account for simulated trading, making it a great choice for beginners who want to practice before going live. FXCM also provides a proprietary platform alongside industry-favorite MetaTrader 4 and offers a Windows-based desktop download option. With web-based trading and support for advanced features like copy trading via ZuluTrade, FXCM offers a versatile platform that suits both new and experienced traders. Furthermore, it uniquely offers the ability to trade directly from stock charts and provides a robust 13 fields for watch lists.
In contrast, iFOREX also delivers a good experience with its proprietary web-based platform, though it lacks a desktop download option and does not offer MetaTrader platforms. While it does not provide a demo account or copy trading features, iFOREX shines with a generous 25 drawing tools for charting, complementing its 9 watch list fields. However, without support for platforms like ZuluTrade and MetaTrader, it may not meet the needs of those seeking more advanced trading tools. Rated 4 out of 5 stars for its trading platforms and tools, iFOREX is a solid choice, but it ranks noticeably lower than FXCM, which has earned a 5-star rating and ranks 6th among 62 brokers in the category according to ForexBrokers.com. FXCM seems to offer a more all-rounded and flexible platform choice compared to iFOREX, which stands 54th in the same ranking.
| Feature |
FXCM
|
iFOREX
|
|---|---|---|
| Virtual Trading (Demo) | Yes | No |
| Proprietary Platform | Yes | 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 | Yes | No |
| Charting - Indicators / Studies (Total) | 115 | 57 |
| Charting - Drawing Tools (Total) | 10 | 25 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 13 | 9 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
When comparing the mobile trading apps of FXCM and iFOREX, there are several key differences to consider. Both brokers offer apps compatible with iPhones and Android devices, making them accessible for most smartphone users. However, FXCM stands out with features such as stock or forex price alerts, the ability to sync watchlists between mobile and online accounts, and offering an impressive 59 technical studies for charting. Additionally, FXCM's app provides users the capability to draw trendlines, view multiple time frames, and autosave chart drawings, which enhances the app's versatility and user-friendliness.
In contrast, iFOREX does not support price alerts, watchlist syncing, or trendline drawing, potentially limiting its appeal to more advanced traders. While both apps allow users to create watchlists, FXCM's realization of real-time quotes adds a layer of dynamism to its app. Users looking for a highly rated mobile trading experience might lean towards FXCM, who holds a 4.5-star rating and ranks 16th out of 62 brokers in the mobile app category, while iFOREX, with a 4-star rating, is positioned at 55th. Ultimately, for those desiring a more comprehensive range of trading tools at their fingertips, FXCM's app appears to offer a more compelling suite of features.
| Feature |
FXCM
|
iFOREX
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | No |
| Watchlist Syncing | Yes | No |
| Mobile Charting - Indicators / Studies | 59 | 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.
When comparing the market research offerings of FXCM and iFOREX, both platforms provide daily market commentary to keep traders informed. FXCM stands out by delivering forex news from top-tier sources such as Bloomberg and Reuters, an advantage not found with iFOREX. Both brokers offer tools from Trading Central, a widely respected provider of technical analysis. While each broker provides a sentiment-based trading tool that highlights the ratio of long or short positions across currency pairs, FXCM further enhances its services with market research from TipRanks, a feature that iFOREX lacks.
Both FXCM and iFOREX supply traders with economic calendars, capturing key global news events. Despite these similarities, FXCM shines with a higher research rating of 4.5 stars compared to iFOREX's 3.5 stars. Additionally, FXCM is ranked #11 in the Research category among 62 brokers by ForexBrokers.com, whereas iFOREX sits at #48. This ranking signifies FXCM's superior position in offering comprehensive and diverse market research tools to its users.
| Feature |
FXCM
|
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 | Yes | Yes |
| TipRanks | Yes | No |
| Signal Centre (Acuity Trading) | No | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
When comparing the educational resources offered by FXCM and iFOREX, beginners will find distinct differences that cater to various learning needs. FXCM stands out by providing a comprehensive selection of educational pieces, including over ten articles, videos, and archived webinars primarily focused on forex and CFDs. Their commitment to ongoing education is evident through monthly online webinars and a searchable archive of recorded sessions. Additionally, FXCM provides both beginner and advanced educational videos, ensuring content is available for traders at different experience levels. For those looking to bolster their understanding of trading terminology, FXCM also features an investor dictionary with over 50 investing terms. Such extensive resources have earned FXCM a 4.5-star rating in education and a rank of 14th out of 62 brokers by ForexBrokers.com.
In contrast, iFOREX offers limited educational support for beginners, missing several key components that FXCM provides. Although iFOREX does provide beginner educational videos, these offerings do not extend to advanced trading topics, and the platform lacks essential resources like a structured webinar schedule or an archive of previously recorded sessions. Moreover, iFOREX does not supply an extensive investor dictionary, which can be a drawback for newcomers trying to familiarize themselves with technical terms. As a result, iFOREX holds a lower position, securing a 3.5-star rating in education and being ranked 53rd in the same ForexBrokers.com list. These differences indicate that while both brokers offer some level of educational content, FXCM's resources are more tailored to meet the diverse needs of beginners aiming to deepen their trading knowledge.
| Feature |
FXCM
|
iFOREX
|
|---|---|---|
| Education (Forex or CFDs) | Yes | No |
| Client Webinars | Yes | No |
| Client Webinars (Archived) | Yes | No |
| Videos - Beginner Trading Videos | Yes | Yes |
| Videos - Advanced Trading Videos | Yes | No |
| Investor Dictionary (Glossary) | Yes | No |
Dive deeper: Best Forex Brokers for Beginners.
After testing 62 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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Both FXCM and iFOREX provide the opportunity to trade cryptocurrency derivatives rather than actual cryptocurrencies, as neither platform offers the ability to purchase delivered cryptocurrencies.
When comparing online brokers FXCM and iFOREX, both platforms facilitate deposits and withdrawals via PayPal, Skrill, Visa or Mastercard, and bank wires, while FXCM additionally provides the option for ACH or SEPA transfers, unlike iFOREX.
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 |
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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) | 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) | FXCM | iFOREX | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | No | |
| Israel (ISA Authorised) | Yes | No | |
| South Africa (FSCA Authorised) | Yes | No | |
| UAE (DFSA/Central Bank Authorised) | No | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No | No |
| Investments | FXCM | iFOREX | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 440 | 750 | |
| Forex Pairs (Total) | 43 | 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 | FXCM | iFOREX | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 0.78 | N/A | |
| All-in Cost EUR/USD - Active | 0.78 | N/A | |
| Active Trader or VIP Discounts | Yes | No | |
| Inactivity Fee | Yes | No | |
| Execution: Agency Broker | Yes | No | |
| Execution: Market Maker | Yes | Yes |
| Funding | FXCM | iFOREX | |
|---|---|---|---|
| Minimum Deposit | Starts from $50 | $100 | |
| PayPal (Deposit/Withdraw) | Yes | Yes | |
| Skrill (Deposit/Withdraw) | Yes | Yes | |
| Visa/Mastercard (Credit/Debit) | Yes | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers | Yes | No |
| Trading Platforms | FXCM | iFOREX | |
|---|---|---|---|
| Proprietary Platform | Yes | 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 | Yes | No |
| Trading Tools | FXCM | iFOREX | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | No | |
| Alerts - Basic Fields | Yes | No | |
| Watchlists - Total Fields | 13 | 9 | |
| Charting - Indicators / Studies (Total) | 115 | 57 | |
| Charting - Drawing Tools (Total) | 10 | 25 | |
| 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 Alerts - Basic Fields | Yes | No | |
| Mobile Watchlist | Yes | No | |
| Watchlist Syncing | Yes | No | |
| Mobile Charting - Indicators / Studies | 59 | 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 | FXCM | iFOREX | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | No | |
| Autochartist | No | No | |
| Trading Central (Recognia) | Yes | Yes | |
| TipRanks | Yes | No | |
| Social Sentiment - Currency Pairs | Yes | Yes | |
| Economic Calendar | Yes | Yes |
| Education | FXCM | iFOREX | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | No | |
| Client Webinars | Yes | No | |
| Client Webinars (Archived) | Yes | No | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | Yes | No | |
| Investor Dictionary (Glossary) | Yes | No |
| Major Forex Pairs | FXCM | 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 | FXCM Review |
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| Trust Score | 95 | 75 | |
| Winner | check_circle | ||
| Review | FXCM Review |
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