iFourX Forex Review

Read our full iFourX review to get exact details about their safety, accounts, spreads, platforms, assets, support, and much more. Our unbiased iFourX opinion allows our readers to decide whether iFourX is a reliable broker.

iFourX Forex Broker History

iFourX forex broker is based in an offshore jurisdiction but is not regulated there. The broker has been around since 2024. It offers multiple account choices, an advanced trading app (MT5), and offers phone support plugin. However, there is no live chat available. The website is responsive and mobile-friendly, and looks modern. The broker has no awards, as it is relatively new and does not offer trading contests or bonus features at the moment, which are drawbacks. While the website looks professional, it still needs some refinements, especially in support option diversity.

iFourX broker safety

iFourX is a young forex broker based offshore. The broker is registered in Saint Lucia as a business company and is not overseen anywhere, meaning it offers trading services without regulations, which is a major red flag. As an unlicensed offshore broker, iFourX is not required to provide segregated accounts, which presents serious risks to trader funds. The FAQ section states that negative balance protection is not guaranteed, and the broker reviews each case separately, which is also a serious drawback. This policy sets the trading balance to zero whenever it falls below $0, and it is a crucial safety feature for beginners.

iFourX Broker Review of Accounts

The broker excels in offering diverse trading accounts, with three options available: ECN, VIP, and Platinum. These accounts are tiered, and higher-level accounts have better conditions, including higher minimum deposits. To see a clearer picture, we will list and analyze each of these accounts below.

iFourX Platinum Account is an entry-level trading account with the lowest deposit requirements among all accounts, but it has high spreads, and its minimum deposit is not that low:

• Minimum deposit – $100
• Maximum leverage – 1:500
• Spreads – From 1.4 pips
• Commissions – $10 per lot
• Minimum lot size – 0.01 lots
• Personal account manager – No
• Automated trading – Yes

iFourX ECN Account

• Minimum deposit – $5,000
• Maximum leverage – 1:500
• Spreads – From 0.7 pips
• Commissions – $7
• Minimum lot size – 0.01 lots
• Personal account manager – No
• Automated trading – Yes

iFourX VIP Account

• Minimum deposit – $10,000
• Maximum leverage – 1:500
• Spreads – From 0.2 pips
• Commissions – $5 per lot
• Minimum lot size – 0.01 lots
• Personal account manager – No
• Automated trading – No

As we can see, the broker is expensive and does not offer an ECN account for scalpers. Its spreads are high, and traders have to deposit large amounts to get competitive spreads, which is disadvantageous.

iFourX instruments

iFourX broker allows access to several asset classes, including Forex pairs, commodities, and indices. Most of these assets are offered as CFDs and enable fast trade execution. However, the lack of popular assets like crypto pairs is a serious drawback. The spreads are high on lower-tier accounts, but leverage is flexible. As a result, iFourX is not currently attractive or competitive and needs some serious improvements.

iFourX Reviews of Trading Platforms

The iFourX trading platform is MetaTrader 5, which is an advanced and popular trading software. MT5 supports EAs and custom indicators, and the broker does not prohibit them. Mobile trading is available using the MT5 mobile app, and traders can download and install it on both iOS and Android. The website is also mobile-friendly and allows users to manage their accounts on the go.

iFourX Forex Review of Extra Features

iFourX broker provides traders with a knowledge base. There are basic explanations for core trading concepts and a glossary. However, it does not provide trading webinars, courses, or video tutorials, which is disadvantageous for beginners. No bonuses are offered either, and the tools for market analysis are also very limited.

In the end, the broker falls short in the diversity of extra features to make traders’ lives easier.

iFourX Reviews of Customer Support

The customer support services at iFourX include email and hotline options. While phone support is a crucial offering, the lack of live chat is still an issue. This is because the live chat is cost-effective and fast, enabling traders to resolve issues quickly. Phone support is critical, but it is usually costly. The broker is not multilingual, which is also a minor drawback.

iFourX Deposit and Withdrawal

Funding methods supported by iFourX offshore brokers are mostly bank cards. There is no support for other payment methods at the moment, which is also a drawback. There are no fees charged from the broker’s side, but payment providers might apply commissions. While deposits are mostly instant, withdrawals are very slow, requiring 2 business days to get processed.

Overall, the broker lacks payment options and has slow withdrawals, which could be improved in the future.

iFourX Review Conclusion – Can you trust it?

iFourX is a young, unregulated offshore broker offering MT5 trading with flexible leverage (1:500) and multiple account options (tiered accounts). However, it has high spreads, offers limited trading instrument access, slow withdrawals, and lacks regulatory oversight, which makes it risky, especially for beginners.

The broker is not recommended for anyone unless it gets a license and implements proper safety features and policies.

FAQs on iFourX

Is iFourX a scam?

The iFourX scam is highly likely due to the offshore nature of the broker and the lack of any regulatory license.

What is the iFourX minimum deposit?

The minimum deposit size is $100 for the Platinum account, which is an entry-level trading account.

Is iFourX a cheap broker?

No, its spreads are high, especially on lower-tier accounts, and low spread accounts have very high deposit requirements.