iFourX

iFourX is an online trading broker registered in Saint Lucia, operating under the corporate name iFourX Capital Limited. Founded on September 3, 2024, the company is headquartered at Ground Floor, The Sotheby Building, Rodney Bay, Gros-Islet, Saint Lucia, with a physical address also listed in Batumi, Georgia. It offers trading in forex, commodities, and indices via the MetaTrader 5 (MT5) platform.

As of this review, iFourX does not hold any known regulatory licenses from a financial authority. This means traders are not protected by a regulatory ombudsman or compensation scheme. The broker's presence in Saint Lucia, a jurisdiction without stringent oversight, and its recent founding date contribute to its high-risk profile.

iFourX provides three account tiers to accommodate different trading styles and capital levels. The Platinum account requires a minimum deposit of $100 and offers fixed spreads starting at 3.0 pips, with no commission per lot. The ECN account requires $5,000 minimum deposit and features floating spreads from 1.5 pips plus a commission of $7 per lot. The VIP account demands $10,000 minimum deposit, floating spreads from 0.7 pips, and a commission of $5 per lot.

All account types offer maximum leverage of 1:500 and have a margin stop out level at 50%. The broker advertises support for automated trading across all accounts, and maximum order sizes vary per tier: 1 lot for Platinum, 5 lots for ECN, and 15 lots for VIP.

iFourX lists 50 forex pairs, 15 indices, and 15 commodities in its offering. The broker's website highlights forex spreads from 0.28 pips and leverage up to 1:500 for forex trading. Commodities include precious metals and energy products. All instruments are offered as CFDs (Contracts for Difference), meaning traders speculate on price movements without owning the underlying asset.

The broker claims ultra-fast execution and guaranteed stop loss orders for certain account types. However, due to the lack of regulation, execution quality and order handling are not subject to external oversight.

Clients can fund their accounts via bank transfer and likely other payment methods not specified in details available. iFourX states that deposits are free, but third-party fees may apply. Withdrawals are processed within one working day, and the broker does not charge withdrawal fees. The advertised minimum deposit for all accounts is $25, though this conflicts with the higher minimums required for ECN ($5,000) and VIP ($10,000) accounts.

Trading costs include spreads and commissions as per account type. Overnight financing (swap) rates are likely applied but not clearly disclosed on the website.

iFourX provides customer support via phone (+41625059585 and +41447079655) and a contact form on its website. The broker also offers partnership programmes, including Introducing Broker (IB) and Multi Account Manager (MAM). IBs can earn commissions on referrals, while MAM allows managing multiple client accounts from a single MT5 interface.

The website includes an FAQ section covering deposit and withdrawal queries. However, live chat availability is not evident.

Trading with iFourX carries significant risk due to its unregulated status. The broker's registration in Saint Lucia, a jurisdiction with minimal financial oversight, means there is no recourse to a regulatory authority if disputes arise. The leverage of up to 1:500 can amplify both gains and losses, potentially exceeding initial deposits.

As with all unregulated brokers, traders should exercise extreme caution. The lack of independent reviews or a track record of operation (founded in 2024) further compounds the uncertainty. Prospective clients are advised to verify the broker's status independently and consider the high-risk nature of trading with a non-regulated entity.

iFourX is a new, unregulated broker offering leveraged trading on forex, indices, and commodities via MT5. While it presents competitive spreads and high leverage, the absence of regulatory oversight is a major red flag. Traders should weigh the potential benefits against the substantial risks, including lack of investor protection and jurisdictional limitations. FXCanary categorizes this broker as high-risk (Scam Risk Score 75/100), recommending only experienced traders who fully understand the risks consider engaging.