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IFX Brokers

IFX Brokers Review
Min Deposit
$100
Min Spread
0.5
Regulation
FSCA
Max Leverage
0.3888888889
Broker Trust
8/10

Overview

What is IFX Brokers?

Founded in 2018, IFX Brokers is a secure, trustworthy, and reliable broker registered under the Financial Sector Conduct Authority (FSCA). With the current trust score of 93, the South African broker offers to trade in multiple assets and is suitable for both beginners and advanced traders.Ā  The broker has low spreads and offers exceptional customer support to its clients.

This IFX brokers review shares a complete picture of the broker and will help traders to invest wisely.Ā 

Is IFX brokers Safe?

Considering the safety concern, we can say that IFX Brokers is a safe platform to trade. There are two main reasons behind it being safe for trading. One, it is a regulated broker. FSCA is the authority regulating its trade. And, the other reason is that it offers an extra layer of protection to its traders, i.e., Negative Balance Protection. This feature helps protect clientsā€™ money.

Pros & Cons- TB

IFX Brokers: Pros and Cons

The advantages and disadvantages of IFX Brokers are listed here:

 

ProsĀ  Cons
Both MT4 and MT5 Only 24*5 Customer Support
Multiple Currencies Supported No US Clients
No Deposit Fee Not Fixed API Trading
Easy Withdrawal
Regulated by the FSCA
200+ Instruments

 

IFX Brokers Trading Limits

Let us know the trading limits of IFX brokers like minimum deposit, minimum withdrawal limit, procedure, etc.

Minimum Deposit for an IFX Broker

What is the minimum deposit for an IFX Brokers?

The minimum deposit limits for IFX brokers range from $10 to $ 1000. Generally, the minimum deposit amount depends on the selected account type. One of the good news for the clients is that there is no imposition of any deposit fee on IFX brokers. However, it is suggested to keep a minimum of R3500 as some of the services are chargeable. The list below shows different minimum deposits for different IXF account types:

 

Account TypeĀ  Minimum Deposit
Standard USD 10
PremiumĀ  USD 250
VIP USD 1000
Islamic USD 10
Cent USD 10

What is the minimum withdrawal limit for an IFX brokers?

The minimum withdrawal limit for clients is ZAR 50 or 50 Rand.Ā 

Money Withdrawal Process for IFX Brokers clients

The withdrawal process is simple, follow the step-by-step procedure to withdraw money.

  • Just log in to the IFX brokers client portal.
  • The next step is to enter the bank account details for verification. Keep in mind that bank accounts are verified only during working hours.
  • Once done with verification, you are ready for the withdrawal.

IFX Brokers: Fee

The trading fee for IFX brokers is USD 6 and spreads are from 0.5 to 1.6 pips. The platform offers commission-free trading across all account types, other than IFX premium accounts. A swap fee is also charged but there is no deposit fee for the clients.

 

Account Type Fee Spreads Commission Swap Fee
Standard USD 10 1.3 pip None Yes
Premium USD 250 1 pip NoneĀ  Yes
VIP USD 1000 0.5 pip USD 6 Yes
Islamic USD 10 1.3 pip NoneĀ  No
Cent USD 10 1.6 pip None

 

Tradable Assets

IFX traders are allowed to trade in numerous assets or financial instruments. The main ones are Currency, Contracts for Discussion (CFDs), Indices, energy, commodities, virtual currencies, spot metals, etc. Other than the six pairing currencies, IFX brokers can also trade in precious metals (gold, silver, platinum, etc), natural gas, and oil.

Trading Platform

Both MetaTrader4 (MT4) and MetaTrader5 (MT5)Ā  trading platforms are available. The two being the best trading platforms lets clients access a wide range of trading tools, indicators, and advanced features.

IFX Brokers Account

This IFX brokers review shares holistic information about IFX brokers accounts, account types, account features, and the process to follow to set up an IFX trading account.

Accounts Types of IFX Broker

Account Types

The different IFX account types are

  1. StandardĀ 
  2. Premium
  3. VIP
  4. IslamicĀ 
  5. CentĀ 

Account Features

Letā€™s discuss the account types with their features using an easy-to-understand table here:

 

Account type Minimum Deposit Bonus Leverage Minimum Trade Volatility Index Spreads From Commission from Margin Call Account Base Currencies One Click Trading Suitable for
Standard USD 10 yes 1:500 0.01 lots Yes 1.3 pips No 50 ZAR/USD/GBP/EUR Yes All
Premium USD 250 No 1:500 0.01 lots Yes 1 pips No 60 ZAR/USD/GBP/EUR Yes All
VIP USD 1000 No 1:500 0.01 lots Yes 0.5 pips USD 6 40 ZAR/USD/GBP/EUR Yes All
Islamic USD 10 Yes 1:500 0.01 lots Yes 1.3 pips No 50 ZAR/USD/GBP/EUR Yes Al
Cent USD 10 Yes 1:1000 0.01 lots Yes 1.6 pips No 50 USD Yes All

 

Setting up an IFX Brokers New Account

The step-by-step procedure to open an IFX Brokers account is:

  • Step 1: Open the webpage of IFX brokers
  • Step 2: Click on the Start Trading option available in red color on the right-hand side.
  • Step 3: Fill in the required details in the registration form.
  • Step 4: Set a unique passcode
  • Step 5: Click on the Register Now button for completing the registration.
  • Step 6: Once registered, you will receive a verification code on the provided email address.
  • Step 7: As soon as the email verification is complete, the applicant will be directed to their newly created IFX brokers trading account.
  • The final step is to finish the questionnaire, financial information, etc before starting to use the account.

IFX Brokers Education

IFX Brokers offers an extensive educational resource for its clients. Under their IFX Academy initiative, IFX provides educational material appealing to every type of user to educate them about the trading world. The FAQ section of the IFX brokers is also a great educational resource for the users.

Customer Support

IFX brokers customer support is available only on working days i.e. from Monday to Friday. Below listed are the ways to seek customer support from the IFX brokers:

Email: [email protected]

Website: ifxbrokers.com

Contact: +27879447273

Conclusion of IFX Broker Review

Overall. We can conclude that IFX Brokers is a secure trading platform in South Africa supporting multiple assets. The platform is trustworthy as it is registered under the FSCA. The easy withdrawal methods and different account types are also helpful for customers.Ā  However, the lack of 24*7 customer support lags the platform behind.

Disclaimer

Hello from FxReviewTrading! We aim to equip you with an array of objective appraisals, insightful commentary, and meticulous analysis. We uphold our commitment to precision through rigorous data validation and consultations with industry experts. It’s essential to recognize that, albeit rarely, minor fluctuations may arise. Please be assured that our dedication to delivering unbiased assessments, exhaustive scrutiny, and well-informed perspectives remains resolute.

We find it imperative to offer some advice on the matter of investing in financial instruments, commodities, and various assets, which inherently involve a significant level of risk. There is the potential for a complete loss of your invested funds. We strongly recommend engaging in such endeavors only if you possess a comprehensive understanding of the associated risks. It’s worth noting that FxReviewTrading refrains from providing investment advice or any form of financial guidance.

Your financial security is of paramount importance to us, and we fervently endorse the exercise of due diligence and seeking professional guidance when making investment decisions.

FAQ

Does IFX Brokers have NASDAQ?

Yes, IFX provides access to NASDAQ to its traders. Also, it is among the top 10 NASDAQ access providers in South Africa.Ā  Announced loudly on the website, it is one of the most acknowledged features of the broker. IFX brokers are associated with Equinix which is a NASDAQ – listed concern based in New York and London.

What is the NASDAQ100 on IFX Brokers?

NASDAQ100 is a group of 100 companies belonging to different sectors but with a common focus on tech. Some of the members of the group are Tesla, Cisco, Apple, Netflix, NVIDIA, and many more.

What is the minimum deposit for IFX Brokers?

Although IFX does not bind its traders with any minimum amount, it advises them to keep a minimum deposit of R3500. The reason for this suggestion is that some of the services might require a minimum deposit.Ā 

How to deposit money on IFX Brokers?

The process to deposit money on an IFX broker is quite simple. One simply needs to log in to their Client portal, select the payment mode and you are done. It is essential to keep in mind that OZOW, Payfast, Neteller, Skrill, and digital currency deposits are instantly deposited. But deposits for Wire Transfers need 48 hours to be deposited. Also, the deposits are processed during working hours i.e. 7h00am – 17h00, from Monday to Friday.

How to withdraw money from IFX brokers?

One can directly request the withdrawal on the client portal. It is important to know that any withdrawal on IFX brokers requires bank verification which might take up to 24 business hours. If the withdrawals are not received within 2 working days, the traders can seek support from the accounting manager. The process to request is by raising a ticket on the client portal.

Are IFX brokers regulated in South Africa?

The answer is yes, IFX brokers are regulated by the Financial Sector Conduct Authority (FSCA) in South Africa. Being regulated by an authorized body makes traders feel confident and secure while trading with IFX brokers.

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