FEIF was founded in 1969 with the aim of organizing recurring international competitions, which led to the first European Championships in 1970 and later to the establishment of the World Championships in 1991. To ensure fair and consistent competition, FEIF introduced the first international sport rules in 1976, originally known as IPO International, later renamed FIPO. Since 2017, all competition rules have been consolidated into the document titled “FEIF Rules and Regulations.”

At FEIF competitions, the performance of the horse and rider is evaluated through various tests. Gait tests (tölt, four-gait, and five-gait) on oval tracks assess the quality of movement, while speed competitions on straight tracks evaluate speed and gait. Additional challenges such as flag races, trail riding, cross-country, in-hand presentations, and freestyle programs highlight other abilities. The Ivó Icelandic Riding Center is equipped to organize standardized competitions in accordance with FEIF rules.

The FEIF World Ranking was established in 1995, enabling riders to compete globally, regardless of location. Horse and rider combinations are ranked based on various tests, including Tölt (T1–T4), Four-gait (V1, V2), Five-gait (F1, F2), Pace Test (PP1), and Pace Races (P1 250 m, P2 SpeedPass 100 m, P3 150 m).

To maintain fairness, World Ranking events must meet strict standards regarding test formats, track sizes, equipment checks, and judging criteria.

The World Championships, held every two years, bring together the best Icelandic horses and riders from FEIF member countries. Teams consist of up to seven horse-rider pairs, with additional eligible and reserve pairs.

FEIF oversees the licensing of international sport judges, ensuring that competition rules, fairness, and horse welfare are upheld. National FEIF associations handle the training and certification of lower-level judges, while only FEIF itself certifies international sport judges.