Desk file · 2026 edition · record confidence: high
iFOREX
We opened the file on iFOREX the way we open every file: register first, marketing never. Trading since 1996, run out of Limassol, Cyprus, and carrying 2 licence entries on the public record, 0 of them tier-1.
What the two desk scores say
Both are out of 10 and both are computed, not felt.
| Cost score | Priced off the spread basis below, not off a headline rate card. | not verified |
|---|---|---|
| Safety score | Weighted on licence tier and on how many of the entries we could re-read at source. | not verified |
| Cost per 10 lots | Ten round-turn EUR/USD lots priced at the spread basis, commission excluded. | $not verified |
Spread basis. . Nothing on this page is a live quote; a spread printed on a Tuesday afternoon is not the spread you get thirty seconds after a non-farm payroll release.
Licence entries, one row per entity
Every row links to the document we read it from.
| Regulator | Licence no. | Jurisdiction | Tier | Licensed entity | Source |
|---|---|---|---|---|---|
| CySEC | 143/11 | Cyprus | T2 | iCFD Limited | cysec.gov.cy |
| BVI FSC | British Virgin Islands | T3 | Formula Investment House Ltd | iforex.com |
Which entity actually holds your money is decided at signup, by the country on your application — not by the strongest licence in this table. Read the client agreement you are handed, then match the entity name against the row above.
What we were able to confirm
Confirmed at source
- iFOREX Europe is the trading name of iCFD Limited, licensed and regulated by CySEC under licence # 143/11 (own protection-and-security page and legal page).
- The CySEC register entry (id 37660) lists ICFD Ltd, licence number 143/11, telephone +357 25 204 600, e-mail info@iforex.eu, with approved trade name iFOREX Europe.
- The iFOREX Group's non-EU services are provided by Formula Investment House Ltd, an investment firm licensed and supervised by the BVI Financial Services Commission (own legal page).
- The iFOREX brand dates its founding to 1996 (own app-store and about-page materials).
- The iforex.com legal page directs EEA visitors to iFOREX Europe (iCFD Ltd), which operates under EU regulations and product intervention rules.
Not verified
The following could not be traced to a primary source at the time of filing. We publish the gap rather than a number that would look tidier:
- minDeposit not verified on an own account-spec page
- maxLeverage not verified on an own spec page
- spreadEurusd not verified
- segregatedFunds not verified in own legal text
- negativeBalanceProtection not verified in own legal text
- BVI licence number for Formula Investment House Ltd not stated on the legal page
- accountTypes naming (Standard/VIP) not verified on an own spec table
| Founded | 1996 |
| Head office | Limassol, Cyprus |
| Minimum deposit | not verified |
| Leverage cap | |
| EUR/USD | not verified pips |
| Tier-1 entries | 0 |
| Record confidence | high |
Platforms and account types on file
Platforms
Account types
Markets
Other records open on the desk
CFDs are complex instruments with a high risk of losing money rapidly due to leverage. A desk file is a record of what the public register said on the day we read it, not a recommendation to open an account.