ToraFX

ToraFX broker is a newly established broker that has been operating since 2025 and directly targets Iranian users with a Persian website and support, Rial deposits and a low minimum deposit. In this overview, we review ToraFX's licensing status, accounts, platforms, payment methods and risks based on Teagle's data; data on this broker is still limited.

What kind of broker is ToraFX?

ToraFX operates under the company name ToraFX Ltd, and its country is listed as Comoros in Teagle's data. The broker has about one year of history and offers CFD trading on forex, commodities, indices and cryptocurrencies through MetaTrader 5 and the proprietary ToraFX app. An ECN account, copy trading and hedging are also listed among its features. Teagle's analyst says there is not enough information available about the company's identity and its exact deposit and withdrawal methods, which matters a great deal for a new broker.

ToraFX licenses and credibility

The only license recorded for ToraFX in Teagle's license list is:

• AOFA Anjouan (Anjouan Offshore Finance Authority, number L15942), with an Active status in the license list.

However, Teagle's analyst and the broker's profile stress that this license had expired at the time of writing and is no longer active, so its actual status should be rechecked before any deposit. Even when active, the Anjouan license is a very weak offshore license with no credible client protection mechanism, and ToraFX holds no other regulation. To understand the level of this license, read the guide on broker regulation tiers and the article the difference between offshore and onshore brokers .

Does ToraFX serve Iranians?

Yes. Iran is not on ToraFX's list of restricted countries, and the broker serves Iranian users with a Persian website, Persian support and Rial deposits. However, according to Teagle's analyst, support mostly responds via tickets and no live support is offered.

ToraFX trading accounts

ToraFX has four account types, all offered on MT5 and the ToraFX app:

• Pro Gold account: no minimum deposit, no commission, spreads from 1 pip and 1:200 leverage; for trading gold only.
• Bonus account: minimum deposit of $10, $5 commission per lot and 1:200 leverage.
• ECN account: minimum deposit of $15, spreads from zero, $5 commission and 1:500 leverage.
• PRO ECN account: minimum deposit of $200, spreads from zero, $7 commission and 1:500 leverage.

The margin call level, stop-out level and availability of an Islamic version are not specified in Teagle's data for any of these accounts; ask support about them before trading. To better understand the costs of commission-based accounts, see the article what is an ECN account at a broker . If you only plan to trade gold, the article best brokers for gold trading in Iran also introduces other options.

ToraFX platforms and services

Trading at ToraFX is done on MetaTrader 5 with Windows, Mac, web, Android and iOS versions, and the broker's proprietary app is also available for Android. MetaTrader 4 is not supported. The broker's additional services include a deposit bonus, rebates, copy trading and PAMM. Follow the terms of active bonuses on the broker bonuses page and read the rules for withdrawing bonus profits before accepting one.

Deposits and withdrawals at ToraFX

The only payment method recorded in Teagle's data for ToraFX is Rial deposit with a 2% fee. The minimum amount, processing time, fee and withdrawal time are not specified for any method, and Teagle's analyst also considers the lack of information about exact deposit and withdrawal methods one of this broker's weaknesses. For this reason, making a test withdrawal before any serious deposit is essential.

ToraFX rating and risk on Teagle

ToraFX's final rating on Teagle is 1.01 out of 5, derived from a single source, WikiFX, with a score of 1.01, and no user has reviewed it on Teagle yet. The Teagle Eye risk index for ToraFX is 76 out of 100, in the "high risk" category; the weak offshore license, very low credibility score and only one year of history are the main drivers of this figure. Also follow this broker on Teagle's list of high-risk brokers .

ToraFX pros and cons

• Pro: serves Iran, with a Persian website and support
• Pro: low minimum deposit and a deposit bonus
• Pro: MetaTrader 5 support
• Con: offshore Anjouan license, which according to Teagle has expired
• Con: 2% fee on Rial deposits and unclear withdrawal terms
• Con: no live support and no MetaTrader 4 support

Who is ToraFX suitable for?

In Teagle's view, ToraFX is only worth considering for beginner traders with small capital who want to test the platform or make simple trades on gold. It is not suitable for professional traders, scalpers or those planning to deposit large sums. Before deciding, weigh it against a more established broker in the Iranian market in the ToraFX vs XChief comparison .

Conclusion

ToraFX offers Iranians an easy entry, but its short history, offshore license and unclear company and withdrawal information make it a high-risk option. If you work with it, deposit only a small amount, make a test withdrawal before anything else and follow the latest warnings on the investment risk warning page .