iFOREX Europe
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89.13% of retail CFD accounts lose money.

Vs.

Saxo Bank
Visit

69% of retail CFD accounts lose money.

iFOREX Europe Vs. Saxo Bank - Compare Trustworthiness, Capabilities, Fees and Legitimacy

Updated Oct 20 2022

Visit

89.13% of retail CFD accounts lose money.

Visit

69% of retail CFD accounts lose money.

Overview

iFOREX Europe (formerly Vestle) is the Europe brand part of the global iForex Group that specialises in CFD trading and offers over 600 instruments over currencies, commodities, indices, shares, ETFs and cryptocurrencies.

Saxo Bank is a Danish investment bank operating since 1992. It is one of the most regulated brokerages in the world with an exceptional selection of financial instruments.

Best For
  • Beginner traders with little to no experience looking to test a simple platform
  • Professional investors looking to trade a variety of markets
  • High net worth traders or investors
Licenses

Financial
Licenses

Regulation

Regulated

Top-tier Licenses

0

Other Licenses

1

Provided by
TheTradingBible.com

Learn More

Financial
Licenses

Regulation

Regulated

Top-tier Licenses

7

Other Licenses

0

Provided by
TheTradingBible.com

Learn More
🏛 Financial Regulators
  • CySec (Cyprus)
  • ASIC (Australia)
  • HKMA (Hong Kong)
  • ADGM (United Arab Emirates)
  • FINMA (Switzerland)
  • MAS (Singapore)
  • FFAJ (Japan)
  • AFM (Netherlands)
The Good
  • Extremely simple platform designed for beginners with little needs
  • Exceptional selection of financial instruments at one place
  • 2 highly-customizable proprietary trading platforms
  • API integration for 3rd party services like Excel or TradingView
The Bad
  • High spreads on all of their instruments
  • Web and mobile platforms are slow and lack tools
  • Their FAQ database doesn’t effectively answer the most common questions any trader could have
  • High minimum deposit for certain countries
  • Withdrawals via bank transfer only
  • High fees on options and futures
Status
Operational Operational
Recent News

No fresh news at the moment. Check again soon!

No fresh news at the moment. Check again soon!

Key Data
⌛ Account Opening Time
1 day 4 days
📋 Documents Required
  • Valid identity document (Passport, ID Card, etc)
  • Valid proof of residence document (Bank statement, utility bills)

All documents must be under the account holder's name.

  • Valid identity document (Passport, ID Card, etc)
  • Valid proof of residence document (Bank statement, utility bills)

All documents must be under the account holder's name.

📍 Year Founded
2018 1992
💳 Minimum Deposit Range
$200 From $500 up to $2,000
💰 Payment Methods
  • Bank Transfer
  • Credit Card
  • Debit Card
  • Visa
  • Mastercard
  • Bank Transfer
💵 Account Base Currencies
1 - EUR 26 - AED, AUD, CAD, CHF, CNH, CZK, DKK, EUR, GBP, HKD, HUF, ILS, JPY, LTL, MXN, MYR, NOK, NZD, PLN, RON, RUB, SEK, SGD, TRY, USD, ZAR.
🗽 Available to U.S Citizens
No No
❌ Restricted Countries

US, CA, SY, IR, JP.

US, BR, ES, IN, KE, MX, NG, PK, ZA.

📊 STP Account
Yes Yes
📊 DMA Account
No Yes
📊 ECN Account
No Yes
Banking License
No No
Debit Card
No No
Assets
📚 Assets Type
CFDs Hybrid
Total Asset Offering
584 49,339
Exchange Access
0 0
📙 Real Stocks
0 30,000
📙 Stock CFDs
400 0
📘 Currency Pairs
0 0
📘 Currency Pair CFDs
50 182
📗 Commodities
0 0
📗 Commodities CFDs
19 19
📕 Indices
0 0
📕 Indices CFDs
32 29
📔 ETFs
0 5,400
📔 ETFs CFDs
42 5,400
💸 Cryptocurrencies
0 0
💸 Cryptocurrency CFDs
41 9
📒 Bonds
0 5,000
📒 Bonds CFDs
0 0
📓 Options
0 3,000
📓 Options CFDs
0 0
📗 Futures
0 300
📗 Futures CFDs
0 0
Trading Experience
📈 Minimum Stock Trade Size
$2,500 in trade value Unavailable
📉 Minimum ETFs Trade Size
$2,500 in trade value Unavailable
📈 Minimum Crypto Trade Size
$2,500 in trade value Varies by Cryptocurrency (eg: 0.01 units of BTC)
📉 Minimum FX Trade Size
$2,500 in trade value $1,000 (0.01 lots)
📈 Minimum Commodities Trade Size
$2,500 in trade value Unavailable
📉 Minimum Bonds Trade Size
Unavailable Unavailable
📈 Minimum Futures Trade Size
Unavailable Unavailable
📉 Minimum Options Trade Size
Unavailable Unavailable
💪 Retail Leverage
30 30
💪 Professional Leverage
500 66
✍ Customisable Leverage
No No
🎲 Deleveraged Trading
Yes Yes
🎓 Demo Account
Yes Yes
📱 IOS App
Yes Yes
📱 Android App
Yes Yes
📺 MetaTrader 4
No No
📺 MetaTrader 5
No No
📺 cTrader
No No
💻 Web trader
Yes Yes
💻 TradingView Platform
No Yes
💻 Proprietary Platform
Yes Yes
📊 Multi-chart Tools
No Yes
👬 Copy Trading
No Yes
👫 Social Trading
No No
🔑 Guaranteed Stop-loss
No No
🔨 Trailing Stop-loss
No Yes
Fees
💰 Inactivity Fee

iFOREX Europe charges an inactivity fee of $15 for every quarter of inactivity.

Up to $150 after 6 months of inactivity, £25 after one quarter in the UK.

💰 Deposit Fees
None None
💰 Withdrawal Fees

No for credit cards but yes for bank wires (up to $20).

None
💰 Commissions
None

$0.02/share (min $10) for US Stocks, from 0.10% (min €10) for other equity markets, €4 per futures contract.

Spreads
📈 EUR/USD
Dynamic - From 0.7 Pips Dynamic - From 0.4 to 0.8 Pips
📉 SP500
Dynamic - From 90 Pips Unavailable
📈 GOLD
Dynamic - From 35 Pips Unavailable
📉 TSLA (Stock CFD)
Dynamic - From $3 Unavailable
📈 XLK (ETF - CFD)
Dynamic - From 30 Pips Unavailable
📉 BTC
Dynamic - From $120 Unavailable
Research and Analysis
⭐ Watchlists
Yes Yes
🔭 Stock Screener
No Yes
🗓 Economic Calendar
Yes Yes
📜 Integrated Newsfeed
No Yes
📡 Reuters Feed
No No
📡 Educational Content
No No
📡 Live Chat Support
No Yes
📡 Video Tutorials
No No
📡 Account Management
Yes Yes
📡 Webinars
Yes No