iFourX Forex broker review — Everything you need to know

Minimum deposit

100 USD

Bonus

Maximum leverage

1:500

Year founded

2024

Regulation

Trading platform

MT5

iFourX is a trading name and website name of iFourX Capital Limited, which is a forex broker based offshore. It offers several account types, and traders are allowed to access their accounts from any device via trading platforms and mobile apps.

In this unbiased review, we will assess iFourX’s licenses, safety policies, accounts, spreads, leverage, profit withdrawals, support, and much more.

iFourX Overview of the website

The website of iFourX is modern-looking and very fast. There are no unnecessary media and visuals or colors, which is good for the user’s eyes. It does a good job of providing most of the crucial details regarding trading conditions like account types, spreads, leverage, deposit requirements, and more. The website is responsive, meaning traders can quickly navigate around, and it is also user-friendly, providing them with a simple but functional interface.

There is no live chat plugin available yet, which is a drawback for the broker. The website is also mobile-friendly, allowing users to access it comfortably from their smartphones and tablets.

iFourX security and reliability

iFourX was launched in 2024, which makes it a relatively young forex broker. It is based offshore as it is registered in Saint Lucia. However, the broker is not overseen by any major authority, making it an unlicensed and risky broker. Unregulated offshore brokers are mostly scams, and unless iFourX gets properly licensed, it is extremely unreliable.

Since iFourX is currently unlicensed, we can not confirm it truly provides segregated accounts, meaning its own operational funds and trader money could be on the same bank accounts, which will create major risks for traders.

We also found no confirmation that it offers negative balance protection, which is also a serious drawback, as beginners can easily abuse high leverage levels.

iFourX Accounts Reviewed

iFourX is a multi-asset broker that also offers users several trading accounts. There are three accounts: Platinum, ECN, and VIP. The accounts are ordered as tiers, meaning the platinum is the basic tier, while the VIP is the highest, with ECN being in the middle. The difference is minimum deposit requirements and spreads. Let’s briefly review each of those accounts to define whether the broker is truly competitive.

iFourX Platinum Account

The platinum is the entry-level account with the lowest deposit requirements of all three accounts. It offers a commission-based way of trading. Here are the main conditions:

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

As we can see, this account has extremely expensive spreads and charges commissions on top of those fees, which makes it nearly impossible to make a profit. Even investment accounts have better spreads than this account.

iFourX ECN Account

The ECN account improves on both spreads and commissions side but still has expensive costs for trading on top of higher minimum deposit requirements:

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

This account is not only very expensive to operate, but it has a super high minimum deposit requirement, which makes it very unattractive, just like the previous one.

iFourX VIP Account

The VIP account requires extra-large deposit amounts and has improved conditions than previous account types:

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

Overall, the trading costs make iFourX one of the most expensive brokers in the industry, which makes it very difficult to recommend to anyone.

Deposit and withdrawal options at iFourX

When it comes to payments, the broker accepts mainly bank cards. It includes Visa, MasterCard, and Maestro cards, both credit and debit. Both deposits and withdrawals are fee-free, which is flexible. However, the broker has a slightly lengthy withdrawal process. Processing will take place within 2 working days for all withdrawals, while all deposits are instant, which is a disadvantage. The lack of e-wallets, cryptos, and wire transfers will make it inconvenient for many traders to deposit and start trading with this broker.

iFourX Assets — What can you trade?

When it comes to trading asset diversification, the broker also falls short, as it only offers access to forex pairs, commodities, and indices. There are no stocks or cryptos offered, even though the broker mainly offers CFDs, which is a serious drawback. Not only is this broker very expensive at the moment, but it also does not allow access to BTC and other popular digital currencies in the form of CFDs. Add high trading costs to the equation, and iFourX does not give traders a reason to start trading on its accounts.

Trading platforms of iFourX

The main trading app at iFourX is the advanced and popular MetaTrader 5 software. The platform supports custom indicators and Expert Advisors, and the broker allows automated trading on most of its accounts. Only the platinum account prohibits algorithmic trading, while all others allow traders to use automated trading systems. Mobile trading is available via the MT5 mobile app, which is accessible on both iOS and Android devices.

Education at iFourX

When it comes to learning materials, iFourX offers a knowledge base section on its website. In this section, the broker offers basic explanations for important trading slang like pips, pairs, and so on. There are no webinars, video content, or structured articles for beginners to learn how to gain practical trading skills. As for the market analysis tools, the broker only offers the economic calendar. This is useful to monitor important market news and avoid trading during extremely volatile times.

iFourX Customer Support

The customer support experience of iFourX is provided via email and phone support channels. While these are crucial types of support, the lack of a live chat is a serious drawback here. Live chat is the fastest and most cost-effective way to get quick assistance, but the broker does not provide it, making the whole support process lengthy and inconvenient. iFourX offshore broker is not multilingual as it only offers its services in English, which is yet another drawback for this CFDs broker.

iFourX bonuses and promotions

There are no bonuses offered like welcome bonuses and deposit bonuses. iFourX does not provide no-deposit bonus promotions either. The overall promotion events are minimal, as there are no trading championships or other incentives offered. Since the broker is still young, it might offer some promotions in the future, but as of now, it is very unattractive in its category as well.

Is iFourX your broker? Final verdict

iFourX is an offshore forex and CFDs broker founded in 2024 and based in Saint Lucia. Despite offering access to the MT5 platform and multiple account choices, the broker lacks proper regulations, transparency, and competitive trading conditions. High spreads, high deposit requirements, limited payment method support, and the lack of negative balance protection and segregated accounts make it a very risky broker for traders. The absence of bonuses, combined with minimal educational materials and poor support options, makes iFourX unattractive and less competitive in the industry at present. Stay away!