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iForex Fees and Spreads

 

iForex Fees and Spreads

 

 

Overall Rating

4.6/5

Rated #436 of 
Recommended FX Brokers

💰Minimum Deposit

USD 100

🌐 Regulators

FSCA 

📱 Trading Desk

Crypto

Yes

📈 Total Pairs

☪️ Islamic Account

No

📊 Trading Fees

Low

🕒 Account Activation Time

24 Hours

🏛️ Visit Broker

 

iForex offers commission-free trading with spreads from 1 pip.

iForex doesn’t charge any account and deposit fees while withdrawals are charged up to $20. iForex also charges an inactive fee of $15 per quarter.

Finding a reputable list about iForex Fees and Spreads local or worldwide can be a difficult process, especially finding a complete list from a trustworthy reputable source.

Below is an in-depth Fees and Spreads review regarding this regulated Forex Company, which will assist traders and allow traders to invest in their currency.

 

Fees and Spreads

The iForex spread list is as follows:

Spreads are competitive but there is no discount offered for large trading volumes. Spreads on major currency pairs, such as the EUR/USD, start from 1 pip.

Added to this, the broker provides trading, which is free of commissions, making this a highly competitive offering all around.

 

Additional Trading Fees

iForex charges swap fees, or overnight fees, which is an additional charge that traders should take into consideration. As such, the fee starts at 5% per annum for indices and 2.5% for commodities and cryptocurrencies.

A swap or rollover fee is the net interest return on a currency position held overnight by a trader. That is, when trading currencies, an investor borrows one currency to buy another. The interest paid, or earned, for holding the position overnight is called the rollover rate.

The broker does offer an Islamic account, also referred to as a swap-free account, which allows Muslim traders to avoid this type of interest as it is prohibited by Sharia law.

Traders should note that the broker charges a $15 quarterly inactivity fee is charged to accounts that have been dormant for 12 months.

While there are no deposit fees charged by the broker, for withdrawals, a charge up to $20 may be applied, depending on the payment method and withdrawal size. This is unfortunate, as withdrawal fees can begin to stack up and eat into traders’ profits over time.

 

Overall Rating

4.6/5

Rated #436 of 
Recommended FX Brokers

💰Minimum Deposit

USD 100

🌐 Regulators

FSCA 

📱 Trading Desk

Crypto

Yes

📈 Total Pairs

☪️ Islamic Account

No

📊 Trading Fees

Low

🕒 Account Activation Time

24 Hours

🏛️ Visit Broker

 

Broker Fees

Traders also need to ensure that they verify additional broker fees which may be waived by their financial institution. In addition, traders may be subjected to currency conversion fees should they transfer fees in a currency that is different from their account base currency.

iForex is not a spread betting broker, so that spread betting fees will not apply.

 

Pros and Cons

✔️ PROS ❌ CONS
Commission-free trading Withdrawal fees are charged
Islamic Account available
No deposit fees
Tight spreads

 

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You might also like: iForex Islamic Account

 

FAQ’s

 

How many instruments can I trade with iForex?

iForex offers a wide range of tradable assets including shares & indices, such as the Dax and VIX, in addition to ETFs and commodities. Currency trading is available on over 90 currencies. Popular crypto pairs including, Bitcoin, Ethereum, and Ripple are also available.

 

Does iForex offer leverage?

Yes. When trading forex or commodities, leverage up to 1:400 is available while CFDs come with leverage of 1:200. Note, ESMA regulations limit the leverage available to European traders to 1:30.

 

What spreads can I expect with iForex?

Spreads are competitive but there is no discount offered for large trading volumes. Spreads on major currency pairs, such as the EUR/USD, start from 1 pip.

 

Does iForex charge commission?

No, iForex offers commission-free trading.

 

Is iForex regulated?

Yes, iForex is regulated by the Cypress Securities and Exchange Commission (CySEC).

 

Is iForex a recommended forex trading broker for experts and beginners?

Yes, iForex offers an excellent trading environment for beginner and advanced traders.

 

What is the overall rating out of 10 for iForex?

8/10.

 

 

Author Details

Louis Schoeman

Louis Schoeman

Featured Forex and Stocks writer

Table of Contents

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