ITB FX

ITB FX broker has been operating since 2017 and, with a Persian-language website, a variety of accounts on MetaTrader 5 and a $10 starting deposit, targets part of the Iranian trader base. On the other hand, this broker's regulatory status is neither transparent nor strong. In this overview, the Teagle editorial team reviews ITB FX's licenses, accounts, payment methods and risks based on recorded data.

What kind of broker is ITB FX?

ITBFX, with about 9 years of history, has registered its official address in Saint Lucia. The broker offers six account types for forex, metals, indices, cryptocurrencies and company stocks, and allows scalping, hedging, news trading, phone trading and the use of expert advisors. Its financial operations are mostly focused on cryptocurrencies, which, according to a Teagle expert, has made things easier for Iranian traders despite banking sanctions.

ITB FX licenses and credibility

Teagle's listing shows one active entry for ITBFX: saint lucia with number 2024-00233. However, according to Teagle's experts, this entry is merely a company registration in Saint Lucia and in practice carries no regulatory oversight. ITBFX also refers to an offshore FSA license from Saint Vincent in its documents, but checks show this license has expired. As a result, the broker lacks credible global regulation and its credibility is rated as average. To understand the difference between a company registration and a real license, read the article What are offshore and onshore brokers .

Does ITB FX serve Iranians?

Yes. The ITB FX website is available in Persian, and Iran is not on the broker's official list of restricted countries. However, the lack of live (online) support is listed among its drawbacks, meaning you may face delays in resolving urgent issues.

ITB FX trading accounts

All ITBFX accounts are offered on MetaTrader 5 with floating spreads, and all except the Stocks account have an Islamic version:

• Nano account: minimum deposit $10, spreads from 1.5 pips, no commission, 1:200 leverage and 20% stop-out; for forex and metals.
• Standard account: minimum deposit $50, spreads from 2 pips, no commission, 1:400 leverage and 20% stop-out.
• Gold account: minimum deposit $50, spreads from 1 pip, with commission (amount not stated), 1:400 leverage and 15% stop-out; dedicated to gold and silver.
• ECN account: minimum deposit $100, spreads from zero, $4 commission, 1:500 leverage, 30% stop-out and no requotes.
• Crypto account: minimum deposit $100, spreads from 1 pip, commission of $1 to $10 depending on volume, leverage from 1:10 to 1:50.
• Stocks account: minimum deposit $300, spreads from 2 pips, with commission, 1:10 leverage and 40% stop-out.

The 2-pip spread on the Standard account is high, and for most active traders the ECN account with its $4 commission is more cost-effective. The broker does not disclose its margin call level. More importantly, ITBFX does not offer negative balance protection, meaning that in extreme volatility you could end up owing more than your account balance. To understand this risk, read the article Margin and collateral in forex .

ITB FX platforms and services

ITB FX's only platform is MetaTrader 5, available for Windows, Mac, Android and iOS. Additional services include bonuses, cashback, rebates, education, copy trading, PAMM, expert advisors and robots, an economic calendar and a forex calculator. Before accepting any bonus, compare its terms on the broker bonuses page .

Deposits and withdrawals at ITB FX

Three payment methods are recorded for ITBFX:

• Cryptocurrencies: minimum deposit $10; fees and deposit and withdrawal times depend on the transfer network.
• Online exchange: minimum deposit $1, free deposits and withdrawals.
• Bank transfer: free deposits and withdrawals.

Withdrawal processing times for the exchange and bank transfer methods are not recorded; ask the broker about this before depositing.

ITB FX rating and risk on Teagle

ITB FX's final rating on Teagle is 2.06 out of 5, derived from two sources: Trustpilot 3.1 and WikiFX 1.02; no Teagle user has reviewed it yet. The Teagle Eye risk index for ITBFX is 58 out of 100, in the "medium risk" category. Its 9-year track record lowers the risk, but the lack of a credible license and low credibility ratings raise it.

ITB FX pros and cons

• Pro: wide variety of trading accounts and a $10 starting point
• Pro: Persian-language website and services for Iranians
• Pro: Islamic accounts, educational services and MetaTrader 5
• Con: no credible regulation and an expired FSA license
• Con: no negative balance protection
• Con: no live support and high spreads on the Standard account

Who is ITB FX suitable for?

According to a Teagle expert, ITB FX suits beginner traders and those who want to test their strategies in a live environment with small capital ($10 to $50). It is not recommended for large investors and professional traders who prioritize oversight by top-tier regulators, nor for depositing large sums. For a comparison with a similar broker, see the ITB FX vs Grand Capital comparison and the ranking of brokers for small capital .

Conclusion

ITB FX offers Iranians easy entry conditions, but the lack of regulation and negative balance protection increases its risk. Only trade with small capital, avoid high leverage, make a test withdrawal and follow the latest warnings on the investment risk warning page .