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 the commission and fees structures of iFOREX and Xtrade, traders should consider their individual needs and preferences. iFOREX, rated at 3 out of 5 stars for commissions and fees, offers an experience that may lack specific average spread data but remains slightly more favorable compared to its competitor. In terms of rankings, iFOREX holds the 60th position among 62 brokers in the Commissions and Fees category, as evaluated by ForexBrokers.com.
On the other hand, Xtrade scores 2.5 out of 5 stars for its commission and fees setup. Like iFOREX, it does not provide average spread data, making direct cost comparisons challenging. Despite this, Xtrade ranks lower at 62 out of 62 brokers in the same category, suggesting that it may not be the most cost-effective option for those prioritizing low trading fees.
In summary, both iFOREX and Xtrade present certain limitations in transparency regarding average spread information, but iFOREX emerges as the marginally better option for cost-conscious traders based on ratings and rankings. Potential clients should weigh these factors when deciding which broker best aligns with their investment strategy and budget considerations.
| 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 iFOREX and Xtrade, both online brokers provide forex trading through CFDs, which allows traders to speculate on currency pairs without owning the assets. iFOREX offers an impressive 750 tradeable symbols, surpassing Xtrade's selection of 482. Additionally, for those keen on trading forex pairs, iFOREX offers 88 pairs compared to Xtrade's 56. Both platforms do not offer exchange-traded securities on U.S. or international exchanges, limiting options for those interested in direct stock trading. Neither broker supports copy trading or the purchase of actual cryptocurrencies; however, both offer cryptocurrency derivatives, allowing traders to engage with the crypto market through speculative contracts.
In terms of investment range, both iFOREX and Xtrade receive a rating of 3.5 out of 5 stars, indicating a fair balance of available assets within their offerings. According to ForexBrokers.com, iFOREX ranks higher at #41, while Xtrade follows at #49 out of a total of 62 brokers in the Range of Investments category. This suggests that while both brokers offer similar services in terms of tradeable assets, iFOREX slightly edges out Xtrade in this competitive space. As a prospective investor, these details can help you make a more informed decision on which platform aligns better with your trading preferences and goals.
| 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, both brokers offer proprietary platforms developed in-house and accessible through web-based browsers, but neither provides a downloadable desktop platform for Windows. Notably, Xtrade supports a simulated trading experience with a free virtual demo account, a feature absent from iFOREX. Both platforms allow users to trade directly from stock charts, but they don't support popular third-party tools like MetaTrader 4 or MetaTrader 5, nor do they offer copy trading, DupliTrade, or ZuluTrade integrations.
In terms of charting tools, Xtrade offers a more comprehensive selection with 100 drawing tools compared to iFOREX's 25. Both brokers provide nine columns for watch lists, catering to users who want detailed market overviews. Although iFOREX receives a slightly higher rating for trading platforms and tools with four stars out of five, compared to Xtrade's 3.5 stars, Xtrade ranks closely, indicating both brokers have strengths and areas for improvement. In global rankings by ForexBrokers.com, iFOREX holds the 54th position out of 62 brokers, while Xtrade is positioned slightly lower at 58th.
| 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 trading apps for iPhone and Android users. While these apps provide a base platform for trading on the go, neither iFOREX nor Xtrade includes features like stock or forex price alerts, synchronization of watchlist symbols across devices, or the creation of watchlists with real-time quotes. Additionally, both apps lack advanced charting tools, such as technical studies, the drawing of trendlines, or the ability to view different time frames. They also do not automatically save drawings on stock or forex charts, which may limit the user experience for traders who rely heavily on technical analysis.
Despite these limitations, both apps receive a 4-star rating for mobile trading. According to ForexBrokers.com, iFOREX is ranked #55 and Xtrade is ranked slightly higher at #53 out of 62 brokers in the Mobile Trading Apps category. This indicates that while there is room for improvement, both platforms offer a satisfactory experience for traders looking to manage investments via mobile devices. However, users seeking comprehensive charting and price tracking features might need to explore additional platforms or desktop applications.
| 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 comparing the market research offerings of iFOREX and Xtrade, both platforms provide daily market commentary and maintain an economic calendar that highlights significant global events. However, Xtrade distinguishes itself by delivering forex news from top-tier sources such as Bloomberg and Reuters, which iFOREX does not. Conversely, iFOREX caters to traders who value technical analysis by offering tools from Trading Central, as well as a sentiment-based trading tool providing insights into trader positions. Xtrade lacks these particular features.
Neither iFOREX nor Xtrade offers technical tools from Autochartist or research from Acuity Trading and TipRanks. Each is rated 3.5 out of 5 stars for research capabilities, according to ForexBrokers.com. Despite this equal rating, iFOREX is slightly ahead in ranking, placed at #48 compared to Xtrade's #52 among 62 brokers. This marginal difference indicates that while both have their strengths, iFOREX offers users a slight edge in some analytical tools over Xtrade.
| 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 different strengths. Xtrade provides a broad range of educational materials on forex and CFDs, including over ten pieces such as articles and videos, while iFOREX falls short in this area. However, iFOREX stands out by offering over ten beginner-focused trading videos that can be highly valuable for those new to the trading world, whereas Xtrade does not meet this criterion.
Neither iFOREX nor Xtrade offer monthly live webinars or access to archives of recorded sessions, potentially limiting interactive learning opportunities. Additionally, Xtrade offers an investor dictionary with definitions for over 50 investing terms, an educational feature that iFOREX does not provide. Despite these differences, both brokers receive a similar rating of 3.5 stars for education, with Xtrade slightly outranking iFOREX in the Education category on ForexBrokers.com by placing #46 out of 62 brokers compared to iFOREX's rank at #53.
| 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 62 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
|
Xtrade
|
|---|---|---|
| Overall Rating |
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| Trust Score | 75 | 74 |
| Range of Investments |
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| Research |
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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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