iFOREX broker Accounts

iForex Account Types & Opening Guide 2025: Complete Comparison and Registration Steps

Part 1: iForex Account Types Overview

iForex Account Types Explained

iForex offers a variety of account types designed to cater to different trading needs and levels of experience. Below are the main account types available:

1. Standard Account

• Minimum Deposit Requirement: $100
• Spread/Commission Structure: Variable spreads starting from 1.5 pips
• Leverage Options: Up to 1:400
• Key Features: Access to all trading instruments, educational resources, and customer support.
• Target User Profile: Suitable for beginners and intermediate traders.
• Trading Instruments Available: Forex, commodities, indices, and CFDs.

1. Demo Account

• Minimum Deposit Requirement: Not applicable (virtual funds)
• Spread/Commission Structure: Similar to the standard account
• Leverage Options: Up to 1:400
• Key Features: Allows traders to practice with virtual funds without risk.
• Target User Profile: Ideal for beginners to learn trading strategies and familiarize themselves with the platform.
• Trading Instruments Available: Same as the standard account.

1. Islamic Account

• Minimum Deposit Requirement: $100
• Spread/Commission Structure: Variable spreads similar to the standard account
• Leverage Options: Up to 1:400
• Key Features: Swap-free account compliant with Islamic finance principles.
• Target User Profile: Muslim traders who require compliance with Sharia law.
• Trading Instruments Available: Forex, commodities, indices, and CFDs.

Account Type Comparison Table

Recommended Account Types by Trader Level

• Beginners: Demo Account, Standard Account
• Intermediate Traders: Standard Account
• Advanced Traders: Islamic Account (if applicable)

Part 2: iForex Account Features Comparison

Detailed iForex Account Features

When comparing the features across different account types, the following aspects are crucial:

• Minimum Deposit:

• Standard and Islamic accounts require a minimum deposit of $100.

• Demo accounts do not require a deposit.

• Maximum Leverage:

• All account types offer leverage up to 1:400.

• Spreads:

• Standard and Islamic accounts have variable spreads starting from 1.5 pips.

• Commission Fees:

• No additional commission fees are charged on standard and Islamic accounts.

• Lot Size:

• Standard lot sizes are available for all accounts.

• Available Trading Platforms:

• iForex provides a proprietary trading platform accessible on desktop and mobile devices.

• Execution Type:

• Market execution is standard across all account types.

• Islamic Account Availability:

• Islamic accounts are available for traders requiring swap-free options.

• Swap-Free Options:

• Islamic accounts are specifically designed to be swap-free.

• Demo Account Features:

• Demo accounts simulate real trading conditions with virtual funds.

Advantages and Disadvantages of Each Account Type

Standard Account

• Advantages:
• Low minimum deposit.
• Access to a wide range of trading instruments.
• Educational resources available.
• Disadvantages:
• Spreads can be higher compared to ECN accounts.

Demo Account

• Advantages:
• Risk-free environment for practice.
• Access to all trading features without financial commitment.
• Disadvantages:
• Limited to virtual trading; no real profits can be made.

Islamic Account

• Advantages:
• Complies with Islamic finance principles.
• Offers the same features as the standard account.
• Disadvantages:
• Limited availability based on eligibility.

Part 3: iForex Account Opening Requirements

iForex Account Registration Requirements

To open an account with iForex, the following eligibility criteria must be met:

• Age Requirements:

• Must be at least 18 years old.

• Geographic Restrictions:

• iForex operates in various countries; however, specific regions may have restrictions.

• Prohibited Countries:

• Traders from certain jurisdictions may not be eligible to open accounts. It is advisable to check the iForex website for the latest information.

• Identity Verification Documents Needed:

• A government-issued photo ID (passport or national ID).

• Proof of residence (utility bill or bank statement).

• Additional Documentation for Professional Accounts:

• May require additional financial documentation to verify trading experience and financial status.

KYC/AML Compliance Procedures

• iForex adheres to Know Your Customer (KYC) and Anti-Money Laundering (AML) regulations, requiring identity verification before account activation.

Verification Time Frames

• Account verification typically takes 1-3 business days, depending on the completeness of the submitted documents.

Part 4: iForex Account Opening Process

Step-by-Step iForex Account Opening Guide

1. Visit Website and Click Registration:

• Go to the iForex website and click on the "Register" button.

1. Personal Information Entry:

• Fill out the registration form with your personal details, including name, email, and phone number.

1. Choose Account Type:

• Select the type of account you wish to open (Standard, Demo, or Islamic).

1. Set Trading Preferences:

• Indicate your trading preferences and risk tolerance.

1. Document Upload:

• Upload the required identity verification documents.

1. Account Verification:

• Wait for the verification process to complete.

1. Fund Your Account:

• Make an initial deposit to activate your account.

1. Start Trading:

• Once your account is funded and verified, you can start trading.

Desktop vs Mobile Registration Differences

• The registration process is similar on both desktop and mobile platforms, although the interface may differ slightly.

Common Registration Issues and Solutions

• Issue: Document rejection.

• Solution: Ensure documents are clear and meet the specified requirements.

• Issue: Delays in verification.

• Solution: Contact customer support for assistance.

Average Account Approval Time

• Typically, account approval takes between 1-3 business days.

How to Upgrade/Downgrade Account Types

• To change account types, contact iForex customer support for guidance on the process.

Part 5: iForex Demo Account Information

iForex Demo Account Guide

• Demo Account Features and Benefits:

• Provides a risk-free environment to practice trading strategies.

• Access to all trading instruments available in live accounts.

• How to Open a Demo Account:

• Follow the same registration process, selecting the demo account option.

• Demo Account Limitations:

• Limited to virtual funds; cannot withdraw profits.

• Virtual Balance Amount:

• Typically, demo accounts are funded with a virtual balance of $100,000.

• Demo vs Live Account Differences:

• Demo accounts simulate trading conditions but do not involve real money.

• Duration/Expiry of Demo Accounts:

• Demo accounts may expire after a set period or remain active as long as there is periodic use.

Part 6: iForex Islamic Account (if available)

iForex Islamic Account Details

• Swap-Free/Islamic Account Availability:

• iForex offers Islamic accounts that comply with Sharia law.

• Eligibility Requirements:

• Traders must declare their need for an Islamic account during registration.

• Differences from Standard Accounts:

• Islamic accounts do not incur swap fees, making them compliant with Islamic finance principles.

• How to Apply for Islamic Account:

• Select the Islamic account option during the registration process.

• Restrictions or Special Conditions:

• Islamic accounts may have specific conditions regarding trading strategies and instruments.

FAQs – iForex Account Types & Opening

1. What account types does iForex offer？

• iForex offers Standard, Demo, and Islamic accounts.

1. What is the minimum deposit for each account type？

• Standard and Islamic accounts require a minimum deposit of $100, while demo accounts do not require a deposit.

1. How long does iForex account verification take？

• Verification typically takes 1-3 business days.

1. Does iForex offer demo accounts？

• Yes, iForex provides demo accounts for practice trading.

1. Can I have multiple account types with iForex？

• Yes, traders can open different account types as needed.

1. Does iForex offer Islamic/swap-free accounts？

• Yes, iForex offers Islamic accounts that comply with Sharia law.

1. What documents do I need to open an iForex account？

• A government-issued ID and proof of residence are required.

1. Can I change my account type after registration？

• Yes, you can contact customer support to change your account type.