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, IronFX offers a moderate pricing structure. For its Standard variable spread account, IronFX lists a typical spread of 1.8 pips, though this may vary based on account type. For those interested in the zero fixed-spread account, the spreads begin at zero but come with an $18 per lot commission and 3 pips widening overnight. IronFX has received a rating of 4 stars for its commissions and fees, placing it at rank #47 out of 62 brokers on ForexBrokers.com.
iFOREX does not provide average spread data, making direct comparisons with its competitors challenging for potential traders. iFOREX has been rated with 3 stars for its commissions and fees, resulting in a #60 ranking among 62 brokers as evaluated by ForexBrokers.com. This suggests that while iFOREX offers some competitive features, it may lack transparency compared to some of its peers in the industry.
| 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.
When comparing the range of investments offered by IronFX and iFOREX, both brokers provide opportunities for trading forex either as a CFD or spot contract. IronFX offers a total of 340 tradeable symbols, including 83 forex pairs, while iFOREX presents a more extensive collection with 750 tradeable symbols and 88 forex pairs. Neither broker provides access to exchange traded securities on US or international exchanges, meaning investors cannot directly purchase stocks like Apple or Vodafone. IronFX does offer copy trading, a feature that allows investors to mirror the trades of successful traders, which is not available with iFOREX. Both platforms offer cryptocurrency trading through derivatives rather than actual cryptocurrency purchases.
In terms of ratings, both IronFX and iFOREX have garnered a 3.5-star rating for their range of investments. However, when it comes to rankings by ForexBrokers.com, their standings differ, with IronFX placing at #51 and iFOREX at a slightly higher #41 out of 62 brokers. This discrepancy reflects slight variations in their offerings and user experiences. Overall, while IronFX provides features like copy trading, iFOREX appears to offer a broader selection of tradeable symbols, especially in forex pairs. Regardless, both brokers afford traders with diverse investment options, albeit with some limitations on certain securities and cryptocurrencies.
| 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.
When comparing the trading platforms and tools provided by IronFX and iFOREX, distinct differences stand out that cater to varying trader preferences. IronFX offers a comprehensive experience with virtual demo accounts, allowing newcomers to practice without financial risks. This broker supports both Windows-based and web-based platforms, ensuring versatility with popular trading software like MetaTrader 4, a favorite among traders worldwide. Additionally, IronFX includes copy trading, appealing to those who wish to mimic successful trades. Its charting tools, however, feature fewer drawing options compared to iFOREX, with 15 available.
In contrast, iFOREX takes pride in its proprietary web-based platform, offering a unique trading experience designed in-house. This platform does not extend to Windows-based downloads nor does it support MetaTrader applications. Despite this, it excels with a higher number of charting tools and broader watch list capabilities, providing 25 drawing tools and 9 fields for watchlists. Direct trading from stock charts is a feature both brokers share, but iFOREX's distinctive platform and broader tool offerings have earned it a slightly higher rating of 4 stars compared to IronFX's 3.5 stars, though both find themselves ranked in the lower tiers among 62 brokers evaluated for trading platforms and tools by ForexBrokers.com.
| 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.
IronFX and iFOREX both offer mobile trading apps for iPhone and Android, providing convenient access to trading on the go. IronFX stands out with its advanced charting capabilities, offering 30 technical studies and the option to draw trendlines, view multiple time frames, and auto-save drawings on stock or forex charts. This app also provides price alerts for stocks and forex, keeping traders updated with timely information. On the other hand, iFOREX does not support price alerts or drawing capabilities within the app but does maintain a higher user rating of 4 stars compared to IronFX's 3.5 stars, indicating a generally more favorable user experience.
While neither broker offers watchlist symbol syncing between the mobile app and online account, IronFX allows users to create a watchlist with real-time quotes, a feature lacking in the iFOREX app. Despite IronFX's comprehensive features for technical analysis, it ranks lower (#61) compared to iFOREX (#55) in ForexBrokers.com's evaluation of mobile trading apps. This suggests that iFOREX might be preferred by users for its overall app functioning even without some technical features that IronFX provides. Ultimately, the choice between the two apps may depend on individual preferences for specific trading tools and overall 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.
When comparing the market research offerings of IronFX and iFOREX, both brokers provide daily market commentary to keep traders informed. IronFX goes a step further, offering forex news from renowned sources like Bloomberg and Reuters, while iFOREX does not provide such top-tier news content. Both platforms equip users with technical analysis tools from Trading Central, yet IronFX lacks a sentiment-based trading tool, an advantage that iFOREX holds with its service displaying long or short position ratios across instruments. Furthermore, neither broker offers research tools from Autochartist or Acuity Trading, nor do they provide insights from TipRanks. However, traders can access economic calendars on both platforms to stay updated on global news events.
In terms of user ratings and rankings, IronFX has a slight edge, with a four-star research rating compared to iFOREX's 3.5-star rating. On ForexBrokers.com, IronFX is ranked 28th out of 62 brokers for its research capabilities, while iFOREX holds the 48th position. These distinctions highlight IronFX's somewhat stronger research offering, though both brokers cater to traders looking for reliable market commentary and essential research tools.
| 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.
IronFX and iFOREX both provide educational resources for those interested in forex and CFDs, but there are noteworthy differences in their offerings. IronFX excels in providing a strong foundation for beginners with at least 10 comprehensive educational articles and videos, alongside a searchable archive of recorded webinars. Additionally, IronFX includes an investor dictionary with over 50 investing terms, which can be a valuable resource for those new to trading. While both platforms offer beginner-friendly videos, IronFX’s broader array of educational content results in a higher education rating of 4 stars compared to iFOREX's 3.5 stars. According to ForexBrokers.com, IronFX ranks at #44 out of 62 brokers in the Education category, while iFOREX is placed at #53.
Despite their strengths, neither broker currently offers live educational webinars, nor do they provide a wide selection of advanced educational videos for seasoned traders. This can be a factor for those looking to progress beyond beginner lessons. While both platforms offer a collection of beginner-focused videos, beginners might find IronFX's extensive educational material more engaging and informative. Comparing these two, IronFX tends to be more appealing to those just starting in the world of online trading, providing a broader spectrum of learning tools and resources. iFOREX, meanwhile, maintains a solid educational offering, especially with its videos, but falls short in areas like webinars and an investor dictionary.
| 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 62 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) | |||
| Research 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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