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 |
When comparing the online brokers Spreadex and iFOREX, the differences in commissions and fees are noteworthy. For Spreadex, the average spread for the EUR/USD currency pair in January 2024 was recorded at 0.81 pips, with a minimum spread of 0.6 pips at least 60% of the time during the month. This efficient pricing structure has earned Spreadex a commendable rating of 4 out of 5 stars for commissions and fees, placing it at the 30th rank among 62 brokers reviewed by ForexBrokers.com.
On the other hand, iFOREX does not provide average spread data, which might make it challenging for potential users to gauge its cost-effectiveness. With a rating of 3 out of 5 stars for commissions and fees, iFOREX is ranked 60th out of 62 brokers in the same category. This suggests that while iFOREX can be a viable option, it may not be as competitive as Spreadex in terms of pricing transparency and fee structure.
In summary, if you prioritize lower average spreads and consistent monthly rates, Spreadex stands out as the more appealing choice, supported by its superior ranking and star rating. Meanwhile, iFOREX might suit traders who require different features but should weigh the lack of transparent pricing data and its lower ranking in commissions and fees.
| 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 present their own in-house developed platforms, but neither offers a Windows-based desktop download option. Instead, users can access trading through their web-based platforms. Despite the similarities, they stand apart in a few areas. For instance, iFOREX provides a wider selection of drawing tools with 25 options, compared to Spreadex's 11. In terms of watch list customization, iFOREX also edges out Spreadex, offering nine columns or fields to Spreadex's eight. Furthermore, both platforms allow trades to be executed directly from stock charts, though neither supports popular tools like MetaTrader 4, MetaTrader 5, or copy trading options.
As for recognition, Spreadex and iFOREX are each rated four stars in the Trading Platforms and Tools category. However, Spreadex holds a slightly better position, being ranked 46th out of 62 brokers on ForexBrokers.com, compared to iFOREX's ranking of 54th. Unfortunately, neither platform provides simulated trading through a demo account, which may be a drawback for those seeking to practice their trading skills without financial risk. Nevertheless, both brokers offer solid solutions for their respective users with unique features that cater to different trading needs.
| Feature |
Spreadex
|
iFOREX
|
|---|---|---|
| Virtual Trading (Demo) | No | 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) | 55 | 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 offer mobile trading apps for iPhone and Android users, providing flexibility for traders on the go. However, Spreadex stands out by offering stock and forex price alerts, a feature not available through iFOREX. Despite neither app supporting watchlist symbol syncing, Spreadex offers the ability to draw trendlines and view different time frames on charts, further enhancing its usability for technical analysis. iFOREX lacks these features, potentially limiting its appeal to users who prioritize charting capabilities. Additionally, Spreadex allows users to create real-time quote watchlists, another advantage over iFOREX’s app.
When it comes to performance ratings, both mobile apps are rated 4 out of 5 stars, showing they deliver a solid experience to their respective users. However, Spreadex is ranked higher at #49 compared to iFOREX's #55 in the Mobile Trading Apps category by ForexBrokers.com. This suggests that Spreadex may provide a slightly more favorable user experience overall. For traders who need detailed charting and price alerts, Spreadex might just be the better choice between the two. Conversely, if basic functionalities suffice, then both apps are comparable options.
| 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.
When comparing the market research offerings of Spreadex and iFOREX, both brokers provide daily market commentary, helping traders stay informed with regular insights. However, Spreadex stands out by offering forex news from prestigious sources like Bloomberg and Reuters, which iFOREX lacks. Neither broker provides tools from Autochartist for technical and fundamental analysis, but iFOREX uses Trading Central to offer technical analytics, unlike Spreadex. Additionally, both platforms feature sentiment-based trading tools, allowing traders to see the ratio of long and short positions across various instruments. While neither broker offers research tools from Acuity Trading nor market insights from TipRanks, both do provide economic calendars to track global news events, enhancing traders' strategic planning.
In terms of research quality, Spreadex is rated higher than iFOREX, earning 4 out of 5 stars compared to iFOREX's 3.5-star rating. This difference is reflected in their rankings on ForexBrokers.com, where Spreadex occupies the 31st position out of 62 brokers, whereas iFOREX ranks at 48th. The combination of better-rated research and exclusive access to top-tier forex news sources gives Spreadex an edge over iFOREX for traders seeking comprehensive market insights.
| Feature |
Spreadex
|
iFOREX
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | No |
| Autochartist | No | 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) | No | No | |
| Alerts - Basic Fields | Yes | No | |
| Watchlists - Total Fields | 8 | 9 | |
| Charting - Indicators / Studies (Total) | 55 | 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 | No | 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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