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iFOREX vs FXPrimus 2024

BrokerNotes.co

Written by BrokerNotes.co

August 06, 2024

Trying to decide between iFOREX and FXPrimus? We’ve taken the guesswork out of the equation with our Comparison Tool. Use our tool to compare hundreds of data points, side-by-side, to see how these two brokers stack up against each other.

Based on our extensive research, hands-on testing, and expert analysis of over a hundred data-driven variables, we've determined that, overall, iFOREX ranks more highly than FXPrimus.

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Compare

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Overall Rating iFOREX FXPrimus
Overall Rating star 7.0 /10 star 7.0 /10
Offering of Investments star 7.0 /10 star 6.5 /10
Commissions & Fees star 6.0 /10 star 7.5 /10
Platform & Tools star 7.5 /10 star 7.5 /10
Research star 6.5 /10 star 6.0 /10
Mobile Trading star 7.5 /10 star 7.5 /10
Education star 6.0 /10 star 6.5 /10
Account Type iFOREX FXPrimus
Standard Trade Size (100,000 units) info Yes Yes
Mini Trade Size (10,000 units) info Yes Yes
Micro Trade Size (1,000 units) info Yes Yes
Islamic Account info Yes Yes
Deposit/Withdrawal Options iFOREX FXPrimus
Minimum Deposit info $100 $100
Bank Wire (Deposit/Withdraw) info Yes Yes
Visa/Mastercard (Credit/Debit) info Yes Yes
PayPal (Deposit/Withdraw) info Yes No
ACH or SEPA Transfers info No No
Copy Trading iFOREX FXPrimus
Social Trading / Copy Trading info No Yes
DupliTrade info No No
ZuluTrade info No No
Cryptocurrency iFOREX FXPrimus
Cryptocurrency (Physical) info No No
Cryptocurrency (Derivative) info Yes Yes
Bitcoin info Yes Yes
Ethereum info Yes Yes
Forex Trading (Spot or CFDs) iFOREX FXPrimus
Forex Trading (Spot or CFDs) info Yes Yes
Mobile Trading - Forex or CFDs info Yes Yes
Indices (Index CFDs) iFOREX FXPrimus
DAX info Yes Yes
Dow Jones info Yes Yes
FTSE info Yes Yes
NASDAQ 100 info Yes Yes
Nikkei info Yes Yes
SP 500 info Yes Yes
Investments iFOREX FXPrimus
Forex Trading (Spot or CFDs) info Yes Yes
Spread Betting info No No
Social Trading / Copy Trading info No Yes
Metals info Yes Yes
Energies info Yes Yes
Agriculturals info Yes No
ETF info Yes No
U.S. Stocks (CFD) info Yes No
Trading Platforms iFOREX FXPrimus
Apple iOS App info Yes Yes
Android App info Yes Yes
Proprietary Platform info Yes Yes
Desktop Platform (Windows) info No Yes
Web Platform info Yes Yes
MetaTrader 4 (MT4) info No Yes
MetaTrader 5 (MT5) info No Yes
Regulatory Licenses iFOREX FXPrimus
Tier-1 Licenses info 1 1
Australia (ASIC Authorised) info No No
Canada (CIRO Authorised) info No No
Hong Kong (SFC Authorised) info No No
Japan (SFC Authorised) info No No
Singapore (MAS Authorised) info No No
Switzerland (FINMA Authorised) info No No
United Kingdom (U.K.) (FCA Authorised) info Yes No
USA (CFTC Authorized) info No No
New Zealand (FMA Authorised) info No No
Regulated in one or more EU or EEA countries (MiFID). info Yes info Yes info
Tier-2 Licenses info 0 0
Tier-3 Licenses info 0 0
Research, Education iFOREX FXPrimus
Trading Central (Recognia) info Yes No
Forex News (Top-Tier Sources) info No No
Daily Market Commentary info Yes Yes
Autochartist info No No
Investor Dictionary (Glossary) info No No
Videos - Beginner Trading Videos info Yes No
Client Webinars (Archived) info No Yes
Trading Costs iFOREX FXPrimus
Minimum Deposit info $100 $100
Average Spread EUR/USD - Standard info N/A N/A info
All-in Cost EUR/USD - Active info N/A N/A info
Active Trader or VIP Discounts info No No
Trading Tools iFOREX FXPrimus
Watchlists - Total Fields info 9 7
Mobile Watchlist info No Yes
Charting - Indicators / Studies (Total) info 57 30
Mobile Charting - Indicators / Studies info N/A 30
Trust Factors iFOREX FXPrimus
Year Founded info 1996 2009
Publicly Traded (Listed) info No No
Bank info No No
Regulated in one or more EU or EEA countries (MiFID). info Yes info Yes info
Trust Score info 75 71
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iFOREX vs FXPrimus Comparison

Comparing forex brokers side by side is no easy task. Our research team has collected thousands of data points, written hundreds of thousands of words of research, and tested over 60 brokers to help you find the best forex brokers in the industry. Trying to decide between iFOREX and FXPrimus? Our independent database powered by our unbiased research will help you compare iFOREX vs FXPrimus side-by-side.

What is Trust Score?

Trust Score is a data-driven rating system that provides an at-a-glance rating of a broker’s overall trust by tracking 60+ brokers and over 100 regulatory jurisdictions across the globe. To make things clearer for everyday traders, we’ve created a five-tier system for regulators and Trust Score rating labels. Learn more about Trust Score, and check out our country guides to see the most trusted brokers in your country of residence.

Can I trust iFOREX?

iFOREX has a Trust Score of 75, giving it a "Average Risk" Trust Score Label.

Can I trust FXPrimus?

FXPrimus has a Trust Score of 71, giving it a "Average Risk" Trust Score Label.

Is iFOREX a good broker?

iFOREX, previously known as Vestle, offers a proprietary trading platform as well as a growing selection of nearly 750 symbols. However, the MetaTrader suite is not available at iFOREX.

Is FXPrimus a good broker?

Founded in 2009, FXPrimus offers cTrader as well as the full MetaTrader suite (both MT4and MT5), but offers fewer than 140 symbols that can be traded from within its platform. Despite carrying indemnity insurance from its Vanuatu-regulated entity and holding a regulatory license in Cyprus, FXPrimus' lack of additional top-tier licenses brings down its overall Trust Score rating.

What Tier-1 jurisdictions is each broker regulated in?

Tier-1 is reserved for the strictest, most stringent regulatory jurisdictions in the world. Tier-1 regulators impose additional capital requirements and require a tougher initial screening process. iFOREX holds regulatory licenses in the following Tier-1 jurisdictions: United Kingdom (U.K.) (FCA Authorised). FXPrimus, on the other hand, is licensed in these Tier-1 regulatory jurisdictions: none. Neither have Australia (ASIC Authorised), Canada (CIRO Authorised), Hong Kong (SFC Authorised), CBI Authorised (Ireland), Japan (SFC Authorised), Singapore (MAS Authorised), New Zealand (FMA Authorised), Switzerland (FINMA Authorised) and USA (CFTC Authorized)

What Tier-2 jurisdictions is each broker regulated in? What about Tier-3?

Tier-2 and tier-3 licenses are still important in evaluating the overall trustworthiness of forex brokers. As far as tier-2 licenses go, both iFOREX and FXPrimus are Cyprus (CySEC Authorised).. Neither have China (CBRC Authorised), India (SEBI Authorised), Israel (ISA Authorised), Russia (CBR Authorised), South Africa (FSCA Authorised), Thailand (SEC Authorised) and UAE (DFSA/Central Bank Authorised). When comparing tier-3 licenses iFOREX is British Virgin Islands (FSC Authorised), while FXPrimus is Vanuatu (VFSC Authorised).. Neither have Bahamas (SCB Authorised), Belize (FSC Authorised), Bermuda (BMA Authorised), Cayman Islands (CIMA Authorised) and Mauritius (FSC Authorised).

Which broker offers more trading platforms?

Whether your broker develops its own proprietary platforms or provides access to popular third-party platforms, you should make sure you can use your preferred type of trading platform. In our testing, we found that iFOREX offers a Proprietary Platform, whereas FXPrimus supports a Proprietary Platform, Desktop Platform (Windows) and cTrader. Neither have DupliTrade and ZuluTrade

Does iFOREX offer MetaTrader? Does FXPrimus offer MetaTrader?

For MetaTrader iFOREX provides neither of these, while FXPrimus provides MetaTrader 4 (MT4) and MetaTrader 5 (MT5). If MetaTrader is a must for you, read our guides on the best MT4 brokers or best MT5 brokers.

How do iFOREX and FXPrimus differ in terms of minimum deposit? What about average spreads and funding options?

iFOREX requires a minimum deposit of $100, while FXPrimus requires a minimum deposit of $100. It's also important to ensure your broker accepts the funding options and deposit methods that work best for you. In our research, we've found that iFOREX supports Bank Wire (Deposit/Withdraw), Visa/Mastercard (Credit/Debit), PayPal (Deposit/Withdraw) and Skrill (Deposit/Withdraw) for funding and deposit methods, whereas FXPrimus supports Bank Wire (Deposit/Withdraw), Visa/Mastercard (Credit/Debit) and Skrill (Deposit/Withdraw)

Which broker offers more tradeable asset classes, iFOREX or FXPrimus?

When choosing a forex broker, it’s important to consider each broker’s available investment products and tradeable asset classes. We’ve researched each broker’s individual offering of investments to help you pick the right broker for what you want to trade. During our testing, we found that iFOREX delivers a more diverse selection of investment options than FXPrimus, offering tradeable asset classes and investment types such as Forex Trading (Spot or CFDs), Metals, Energies, Agriculturals, ETF and U.S. Stocks (CFD). Neither have Spread Betting.

We also keep track of each broker’s total number of tradeable symbols; iFOREX offers 750, and FXPrimus offers a total of 140 tradeable symbols.

Can I trade cryptocurrency with iFOREX or FXPrimus?

Crypto trading has become popular among forex traders across a range of international jurisdictions. As a result, many forex brokers now offer crypto products to their clients; most crypto assets are offered either as an underlying physical asset (such as when you own actual bitcoin assets, for example) or as a derivative product like a CFD. If you are looking to trade physical cryptocurrencies, you’ll find that neither iFOREX nor FXPrimus allow you to trade physical cryptocurrencies.

Who offers more research tools, iFOREX or FXPrimus?

Market research plays a huge role in any forex trader’s ability to conduct analysis within the global forex market. We test each broker’s research offering to help you decide which broker is right for your technical or fundamental analysis needs. iFOREX delivers the following research tools: Daily Market Commentary, Stock Charts and Trading Central (Recognia). FXPrimus, on the other hand, provides the tools listed here: Daily Market Commentary, Stock Charts and Social Trading / Copy Trading. Neither have Autochartist and Forex News (Top-Tier Sources)

Broker Reviews

Still looking for more information, read our broker reviews.

iFOREX Review

FXPrimus Review

Overall winner: iFOREX

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announcementPlease note:

We review each broker’s overall global offering – a “Yes” checkmark in our Compare Tool does not guarantee the availability of any specific features in your country of residence. To verify the availability of any features within your country of residence, please contact the broker directly.


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