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iFOREX fees, after the safety questions
Cost is the last thing to weigh when the question is whether your money is safe, so this page comes after the regulation page and reads in that light.
Regulation: British Virgin Islands FSC (SIBA/L/13/1060); CySEC (143/11) through European group entity. How iFOREX is regulated
Facts last checked . Read the full iFOREX review.
What it costs to trade
- Spread from
- 0.7 pips
- EUR/USD spread
- Approx. 0.8 pips
- GBP/USD spread
- Approx. 1.2 pips
- Commission
- $0
- All-in cost, EUR/USD
- Approx. 0.8 pips
- Spread type
- Variable
- Overnight swap
- Both: overnight financing may be charged or credited
- Inactivity fee
- $15 per quarter after 12 months inactivity
- Deposit fee
- None internally
- Withdrawal fee
- Generally none; $20 international wire transfer / $5 India local transfer
- Currency conversion
- Conversion at applicable exchange rate
What this means
Cost is the last thing to weigh here, and never the thing that should decide it.
Spreads from 0.7 pips suggest an all-in account, where the broker's fee is built into the price rather than charged separately. There is usually no commission on top, which makes the cost easier to predict.
Quoted spreads are best-case figures on the most liquid pair, in normal conditions. What you actually pay widens around news and at the session open.
iFOREX lists a minimum deposit of $100. Treat it as the cost of opening an account, not the cost of trading one - position sizing on a small balance is what tends to cause damage.
Questions about iFOREX fees
Does iFOREX charge to deposit or withdraw?
Deposit fees at iFOREX: None internally. Withdrawal fees: Generally none; $20 international wire transfer / $5 India local transfer.
Does iFOREX charge an inactivity fee?
iFOREX's inactivity fee is recorded as $15 per quarter after 12 months inactivity.
What does iFOREX charge to hold a position overnight?
Overnight financing at iFOREX is recorded as both: overnight financing may be charged or credited.
Fees at brokers under the same regulator
- AvaTrade fees also licensed by FSC (BVI)
- Exness fees also licensed by FSC (BVI)
- easyMarkets fees also licensed by FSC (BVI)
- MultiBank Group fees also licensed by FSC (BVI)
- TopFX fees also licensed by FSC (BVI)