Written by ForexBrokers.com
In this head to head comparison of Spreadex 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.
Founded in 1999, Spreadex is an online broker that offers trading services and holds one Tier-1 license, indicating high trustworthiness from ForexBrokers.com. The company is not publicly traded and does not operate as a bank. Spreadex earns a Trust Score of 71 out of 99, categorizing it as an average risk broker according to ForexBrokers.com. Despite not having any Tier-2 licenses, Spreadex's Tier-1 license supports its credibility in the trading community.
iFOREX, on the other hand, has been in operation since 1996 and, like Spreadex, holds one Tier-1 license and is not publicly listed or a banking institution. With a slightly higher Trust Score of 75 out of 99, iFOREX is considered to pose an average risk based on ForexBrokers.com standards. While it does not hold any Tier-2 licenses, its Tier-1 status provides assurance to traders seeking a reliable platform.
| Feature |
Spreadex
|
iFOREX
|
|---|---|---|
| Year Founded | 1999 | 1996 |
| Publicly Traded (Listed) | No | No |
| Bank | No | No |
| Tier-1 Licenses | 1 | 1 |
| Tier-2 Licenses | 0 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 0 | 1 |
Spreadex is a competitive choice for those looking at online brokers with its favorable commission and fee structure. In January 2024, the average spread for EUR/USD was 0.81 pips, with the minimum spread of 0.6 pips achieved 60% of the time. This consistent level of performance contributes to Spreadex receiving a commendable 4 out of 5 stars for its commissions and fees, placing it at rank #27 out of 62 brokers reviewed by ForexBrokers.com.
On the other hand, iFOREX falls behind in terms of transparency and cost efficiency. The lack of available data on average spreads makes it challenging for potential clients to gauge their potential transaction costs accurately. Consequently, iFOREX is rated 3 out of 5 stars for commissions and fees and sits lower in the rankings at #60 out of 62 brokers overall, according to ForexBrokers.com.
For traders prioritizing lower commissions and clearer fee structures, Spreadex presents itself as the stronger option, whereas iFOREX's unclear spread information may require further consideration before proceeding with a trade account. Choosing the right broker involves comparing these critical factors to ensure the best value and service.
| Feature |
Spreadex
|
iFOREX
|
|---|---|---|
| Minimum Deposit | $0 | $100 |
| Average Spread EUR/USD - Standard | 0.81 | 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) | No | Yes |
| Skrill (Deposit/Withdraw) | No | Yes |
| Visa/Mastercard (Credit/Debit) | Yes | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
When comparing Spreadex and iFOREX, it's clear that both brokers offer forex trading as CFDs or spot contracts. However, Spreadex stands out with a much larger selection of tradeable symbols, boasting 10,000 compared to iFOREX's 750. While iFOREX offers more tradeable forex pairs (88 compared to Spreadex's 52), Spreadex provides a wider range of other investment options.
Neither broker allows clients to buy exchange-traded securities, such as Apple shares on US exchanges or Vodafone shares on international exchanges, and both lack copy trading features. For cryptocurrency enthusiasts, both Spreadex and iFOREX provide options for trading cryptocurrency derivatives rather than actual coins. Spreadex earns a higher rating for its range of investments, receiving five stars and ranking 13th out of 62 brokers according to ForexBrokers.com. Meanwhile, iFOREX receives 3.5 stars, placing 41st in the same category.
| Feature |
Spreadex
|
iFOREX
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 10000 | 750 |
| Forex Pairs (Total) | 52 | 88 |
| 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 Spreadex and iFOREX, both brokers offer unique strengths and limitations. Spreadex provides traders with a proprietary, in-house platform that can be accessed through a web browser, without a Windows-based desktop download. A significant advantage for beginners is Spreadex's free virtual demo account, which allows users to practice trading without any financial risk. Although it lacks popular platforms like MetaTrader 4 and 5, Spreadex compensates by offering a direct trading feature from stock charts and providing 8 customizable columns in watch lists. With 11 drawing tools available for charting, Spreadex is rated 4 stars for its tools and ranks 46th among 62 brokers according to ForexBrokers.com.
Similarly, iFOREX also provides a web-based proprietary trading platform but does not support desktop downloads or offer a demo account. Like Spreadex, it does not utilize platforms like MetaTrader or support copy trading. However, iFOREX enhances charting capabilities with 25 drawing tools and allows direct trades from stock charts. For those who monitor multiple assets, the platform features 9 customizable columns for watch lists. Despite these offerings, iFOREX shares a 4-star rating with Spreadex for its trading tools and platforms, yet it is ranked slightly lower at 54th out of 62 brokers in the ForexBrokers.com evaluation.
| Feature |
Spreadex
|
iFOREX
|
|---|---|---|
| Virtual Trading (Demo) | Yes | No |
| 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) | 58 | 57 |
| Charting - Drawing Tools (Total) | 11 | 25 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 8 | 9 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
Both Spreadex and iFOREX provide trading apps for iPhone and Android users, allowing easy access to mobile trading. However, they differ in certain features. Spreadex stands out by offering stock or forex price alerts, the ability to draw trendlines, and the capability to view multiple time frames on charts, enhancing the trading experience for users who need these functionalities on the go. On the other hand, iFOREX does not offer these specific features, making it potentially less attractive for traders who rely heavily on in-depth technical analysis and real-time alerts.
Neither broker offers watchlist symbol syncing between the mobile app and the online account, and both lack auto-saving for chart drawings. Despite these limitations, Spreadex allows users to create a watchlist with real-time quotes, while iFOREX falls short in this area. When it comes to customer ratings, both apps receive 4 out of 5 stars for mobile trading, yet Spreadex ranks higher at #46 compared to iFOREX's #55 out of 62 brokers, reflecting a slightly better user satisfaction and feature set. This comparison highlights some key differences that may influence a trader's choice depending on their priorities.
| Feature |
Spreadex
|
iFOREX
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | No |
| Watchlist Syncing | No | No |
| Mobile Charting - Indicators / Studies | N/A | N/A |
| Mobile Charting - Draw Trendlines | Yes | No |
| Mobile Charting - Multiple Time Frames | Yes | No |
| Mobile Charting - Drawings Autosave | No | No |
| Mobile Watchlist | Yes | No |
Dive deeper: Best Forex Trading Apps.
Both Spreadex and iFOREX provide daily market commentary, offering timely insights into market trends. However, Spreadex users benefit from an edge in staying informed through top-tier forex news sources like Bloomberg and Reuters, which are not available on iFOREX. Customers of Spreadex also have access to Autochartist tools for technical analysis, providing comprehensive options for traders relying on data-driven decisions. While iFOREX excels with tools from Trading Central, focusing on technical analytics, it lacks the Autochartist offerings provided by Spreadex.
Sentiment-based trading tools indicating long or short positions are available on both platforms, helping traders understand market sentiments. Despite both brokers offering important features like economic calendars, neither provides research tools from TipRanks or Acuity Trading. Overall, Spreadex scores slightly higher for research with a four-star rating compared to iFOREX's 3.5 stars and is ranked #31 out of 62 brokers, whereas iFOREX ranks at #48 according to ForexBrokers.com.
| Feature |
Spreadex
|
iFOREX
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | No |
| Autochartist | Yes | No |
| Trading Central (Recognia) | No | Yes |
| Social Sentiment - Currency Pairs | Yes | Yes |
| TipRanks | No | No |
| Signal Centre (Acuity Trading) | No | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
When comparing the educational resources for beginners offered by Spreadex and iFOREX, there are noticeable differences. Spreadex provides a substantial number of educational materials focused on forex and CFDs, including more than ten articles or videos catering to beginners. They also offer an investor dictionary with over 50 investing terms, a handy tool for those new to trading. However, Spreadex does not offer regular online client webinars or an archive of past webinars, limiting live learning opportunities.
On the other hand, iFOREX falls short in offering the same level of beginner-focused educational content, not meeting the basic criteria of having ten forex or CFDs educational pieces. While iFOREX does match Spreadex with a collection of beginner educational videos, it lacks both an investor dictionary and any form of client webinars. With a slight edge in educational rankings and star ratings, Spreadex ranks higher at #45 compared to iFOREX's #53 among brokers. Both platforms are yet to provide advanced educational videos for experienced traders, making them more suitable for those just starting their trading journey.
| Feature |
Spreadex
|
iFOREX
|
|---|---|---|
| Education (Forex or CFDs) | Yes | No |
| Client Webinars | No | No |
| Client Webinars (Archived) | No | 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 Spreadex is better than iFOREX. Spreadex finished with an overall rank of #39, while iFOREX finished with an overall rank of #52.
Spreadex is an FCA-regulated broker in the UK, offering forex and CFDs, and is well known for its sports betting business, and proprietary web trading platforms. Spreadex still has considerable room to improve, in key categories such as research and education, compared to the best forex brokers.
| Feature |
Spreadex
|
iFOREX
|
|---|---|---|
| Overall Rating |
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| Trust Score | 71 | 75 |
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Both Spreadex and iFOREX do not offer the ability to buy actual (delivered) cryptocurrencies, but they do provide options for purchasing cryptocurrency derivatives.
While both Spreadex and iFOREX support Visa, Mastercard, and bank wires for deposits and withdrawals, only iFOREX offers additional options through PayPal and Skrill, whereas neither broker provides 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 | Spreadex | iFOREX | |
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| Trust Score | 71 | 75 | |
| Winner | check_circle | ||
| Review | Spreadex Review |
| Broker Screenshots | Spreadex | iFOREX | |
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| Trading Platforms Gallery (click to expand) | |||
| Mobile Trading Gallery (click to expand) | |||
| Research Gallery (click to expand) | |||
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| Regulation | Spreadex | iFOREX | |
|---|---|---|---|
| Trust Score | 71 | 75 | |
| Year Founded | 1999 | 1996 | |
| Publicly Traded (Listed) | No | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | No | Yes | |
| Tier-1 Licenses | 1 | 1 | |
| Tier-2 Licenses | 0 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 0 | 1 |
| Tier-1 Licenses (Highly Trusted) | Spreadex | iFOREX | |
|---|---|---|---|
| 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 | Yes | |
| USA (CFTC Authorized) | No | No | |
| New Zealand (FMA Authorised) | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | No | Yes |
| Tier-2 Licenses (Trusted) | Spreadex | 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 | Spreadex | iFOREX | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 10000 | 750 | |
| Forex Pairs (Total) | 52 | 88 | |
| 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 | Spreadex | iFOREX | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 0.81 | 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 | Spreadex | iFOREX | |
|---|---|---|---|
| Minimum Deposit | $0 | $100 | |
| PayPal (Deposit/Withdraw) | No | Yes | |
| Skrill (Deposit/Withdraw) | No | Yes | |
| Visa/Mastercard (Credit/Debit) | Yes | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers | No | No |
| Trading Platforms | Spreadex | iFOREX | |
|---|---|---|---|
| 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 | Spreadex | iFOREX | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | No | |
| Alerts - Basic Fields | Yes | No | |
| Watchlists - Total Fields | 8 | 9 | |
| Charting - Indicators / Studies (Total) | 58 | 57 | |
| Charting - Drawing Tools (Total) | 11 | 25 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | No |
| Mobile Trading | Spreadex | 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 | N/A | N/A | |
| Mobile Charting - Draw Trendlines | Yes | No | |
| Mobile Charting - Multiple Time Frames | Yes | No | |
| Mobile Charting - Drawings Autosave | No | No | |
| Mobile Economic Calendar | Yes | No |
| Research | Spreadex | iFOREX | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | No | |
| Autochartist | Yes | No | |
| Trading Central (Recognia) | No | Yes | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | Yes | Yes | |
| Economic Calendar | Yes | Yes |
| Education | Spreadex | iFOREX | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | No | |
| Client Webinars | No | No | |
| Client Webinars (Archived) | No | No | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | No | No | |
| Investor Dictionary (Glossary) | Yes | No |
| Major Forex Pairs | Spreadex | 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 | Spreadex Review |
| Overall | Spreadex | iFOREX | |
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| Trust Score | 71 | 75 | |
| Winner | check_circle | ||
| Review | Spreadex Review |
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